This is the second episode of an experiment I did on a new episode format that was shorter, 20-30 minutes, and focused entirely on ideas and challenges operating small companies. The first episode in this experiment was last week’s episode with Jason Hill on adding food to the office and some of these interesting benefits there.
On this operating focused episode, I talk with Palmer Higgins of Mainely Grass and Chenmark on why he’s getting rid of sales roles and doesn’t operate on a commission structure. We talk about the positive and negative unintended consequences of becoming a more versatile team, the training and adjustment period of shifting roles, and some of Palmer’s thinking on paired metrics and why commissions are a poor metric and incentive to use in their business. If you want to learn more about Palmer and his work, you can listen to our earlier podcast, episode 43, on his move to CEO at Mainely Grass. For now, enjoy our episode on sales roles and incentives.
Think Like an Owner Sponsors
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Hood & Strong, LLP – Hood & Strong is a CPA firm with a long history of working with search funds and private equity firms on diligence, assurance, tax services, and more. Hood & Strong is highly skilled in working with search funds, providing quality of earnings and due diligence services during the search, along with assurance and tax services post-acquisition. They offer a unique way to approach acquisition diligence and manage costs effectively. To learn more about how Hood & Strong can help your search, acquisition, and beyond, please email one of their partners Jerry Zhou at [email protected].
Oberle Risk Strategies– Oberle is the leading specialty insurance brokerage catering to search funds and the broader ETA community, providing complimentary due diligence assessments of the target company’s commercial insurance and Employee benefits programs. Over the past decade, August Felker and his team have engaged with hundreds of searchers to provide due diligence and ultimately place the most competitive insurance program at closing. Given August’s experience as a searcher himself, he and his team understand all that goes into buying a business and pride themselves on making the insurance portion of closing seamless and hassle-free.