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Why Sales Managers Need to Make Regular Deposits in "The Trust Account"

Written by: Ralph Burns

Article Overview: In your bank account, you have an ATM card that only you have the PIN number to access the account funds. Every week, you make regular deposits and withdrawals into your account. Base salary deposits go in regularly through automatic deposit, while bonuses and commission checks go in periodically with expense checks and other deposits. You make cash withdrawals, debit card purchases, write checks, and make other payments. Unless you enjoy bouncing checks and incurring overdraft fees, you're careful to monitor your balances so you don't bounce checks and rack up those nasty overdraft fees. Even though you may have overdraft protection, you certainly don't want to pay 16.75% interest, so you're careful to make sure your deposits outweigh your withdrawals.

Why Sales Managers Need to Make Regular Deposits in "The Trust Account"

In your bank account, you have an ATM card that only you have the PIN number to access the account funds. Every week, you make regular deposits and withdrawals into your account. Base salary deposits go in regularly through automatic deposit, while bonuses and commission checks go in periodically with expense checks and other deposits. You make cash withdrawals, debit card purchases, write checks, and make other payments.

Unless you enjoy bouncing checks and incurring overdraft fees, you're careful to monitor your balances so you don't bounce checks and rack up those nasty overdraft fees. Even though you may have overdraft protection, you certainly don't want to pay 16.75% interest, so you're careful to make sure your deposits outweigh your withdrawals.

Think of the trust level you have with your salespeople in the same way you think about the balance in your bank account. The amount of trust they have in you is your beginning "balance". Both of you keep a running tally of the balance at all times which fluctuates over time.

Similar to how you manage your bank accounts, each of your salespeople has a "trust account" that only you have the PIN for. In the same way that you make daily or weekly deposits in your regular bank account, you make daily and weekly "trust" deposits in each of your salespeople's respective accounts.

To keep your sales reps highly motivated and productive, your goal is to make as many deposits in their trust accounts as you possibly can, and avoid making any withdrawals.

You need to be mindful that your deposits always outweigh your withdrawals. With "trust accounts" you never want to be overdrawn, because there is no overdraft protection.

Motivating and getting the best out of your salespeople involves making regular deposits in their trust accounts - this keeps them indebted to you and motivated to produce superior results for themselves as well as for you.

The more deposits you make, the more your salespeople will produce superior sales results for themselves, the company, and you.

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Article Tags: atm card, base salary, bounce, bouncing checks, card purchases, cash withdrawals, commission checks, overdraft fees, overdraft protection, pin number, sales reps, salespeople, tally, trust account, trust accounts, trust deposits, trust level



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