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Building a vibrant workplace requires a foundation of trust, respect, and honest communication. It also requires employee appreciation.

Over 200,000 global employees were studied by the Boston Consulting Group, and the top reason they reported enjoying their work was, “feeling appreciated”. Number 2 was having a good relationship with their supervisor, and number 4 was that they had a good relationship with their colleagues. Financial compensation didn’t appear until number 8!

Four out of five employees (81%) say they are motivated to work harder when their boss shows appreciation for their work. Unfortunately, many managers don’t respond to this need and those who do, choose employee recognition programs.

Traditional recognition programs...

The first article in this 3-part series (How to Design a Killer Sales Compensation Model) introduced the concept of behavioural theory and how it affects sales compensation design. This second article discusses how compensation packages suit different stages of company and product evolution.

The main challenge with designing a sales compensation program is the primary sales role constantly evolves as the company grows and the market matures. The following diagram, courtesy of The Alexander Group, explains the four phases of growth and how this impacts the business.

Phase 1: The Start-Up Phase

In the Startup phase, brand awareness is low, and companies strive for a foothold in the market. The salesperson must have an entrepreneurial drive ...

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What’s a good way to establish a solid referral network?

I am asking clients for their dentists’ names and then calling them up one by one. Few dentists are willing to meet me, and I find the process tedious. I am curious to find if there’s another, more efficient way to reach my target clients. I am looking for something other than website SEO.

Humberto Valle, Entrepreneur, answered:

Hello, I’m a marketer and strategist by trade. One of the best in Arizona, where I reside.
I can guarantee you that a fundamental reason is that you are calling and talking more about you instead of them. Do your homework on dental services. Aim for one genuine friendly relationship...

Somehow the startup world has convinced people to work for "free" on a regular basis, with the theoretical benefit of some big payout on equity later.

The truth is, those bets rarely work and once the pixie dust of the new startup wears off, what's left is a bunch of frustrated employees who can't pay their bills.

Although we have little to no money to pay today, we should always try to incorporate some level of cash compensation, even if it's incredibly small, to help offset the cost of life that our team is going to inevitably face.

When our team is more focused on going broke than contributing, we're not really doing anyone a favor!

Use a Compensation "Ramp Up"

Compensation doesn't have to be "all or nothing."

Just because someone mak...

Over the past few years, I’ve had the opportunity to have a first-hand look at several marketing plans, budgets and strategies — quite a few, of which, that have been weak and sub-optimal.

I’ve noticed an alarming trend within small businesses and startups across all industries: After experiencing a small degree of success from their current efforts, they get complacent. Teams that were once innovative and curious go on autopilot — pre-allocating funds to the same channels they’ve always used to connect with their audience.

In the beginning many startups experiment with a myriad of marketing channels, ad placements and creative direction to figure out what works for their target market. But, after a few short years, they stop exploring. Wha...

Crowdfunding is a method of raising capital through the collective effort of friends, family, customers, and individual investors.

This approach taps into the collective efforts of a large pool of individuals — primarily online via social media and crowdfunding platforms — and leverages their networks for greater reach and exposure.

Sounds great, right?

But because this method is relatively new, many people don’t understand exactly how crowdfunding works.

Simply stated, crowdfunding works by presenting your idea to people inside and outside of your network and allowing them to contribute toward your fundraising goals online.

Who is the "Crowd" Anyway?

The crowd is essentially your personal network, potential customers, and — in the case ...

Taking on full-time staff is a super scary proposition.

It's one thing to have to cut a check to a freelancer, but it's a whole other thing to know that someone's entire livelihood rests squarely on your shoulders.

Startup Founders have far more options and flexibility than we used to, which means the question of taking on full-time staff should be weighed much differently than it used.

Have Founders always been debating this question?

Not nearly as much as we have in the last decade.

The world of employment has undergone a massive change as the gig economy and freelance marketplace has exploded. Nowadays, more people are considering themselves "mercenaries" who can float between gigs which also means employers have to re-consider how th...

You can’t throw a rock these days without hitting a company that practices corporate social responsibility. You want proof? The Harvard Law School study “CEO Materialism and Corporate Social Responsibility” revealed that Fortune 500 firms spend more than $15 billion on philanthropy and CSR.

On a personal note, giving back has always been part of my company’s DNA; it’s a policy that my father started and that I’ve continued during my own leadership tenure. CSR is near and dear to me because I’ve seen the amazing work we’ve done affect communities and influence and change the culture within our own offices.

For businesses looking to make a philanthropic mark, implementing CSR strategies won’t be an overnight overhaul. For small businesses and...

When you’re on the hunt for startup office space, the number of factors surrounding the search for a suitable working environment can actually make the process quite daunting.

You need to satisfy your startup business’s current needs while also looking to the future, making sure that wherever you choose is cost-effective and good for team morale, as well as accurately reflecting your brand image.

If you’re beginning your search for the incubator your startup needs, here are five tips from locker and shelving manufacturer Action Storage that should help you make the right decision when choosing office space for startups.

1. Choose your location wisely

The first thing you’ll need to think about is where your new office space is situated, as ...

It was recently reported that the co-Founder of WeWork Adam Neumann took over $700 million off the table from investors long before the company had gone public.

How do these Founders go about getting cash out of their startups long before the startups ever cash out themselves?

Why would investors let me take money off the table?

Investors will often dangle the option of providing some Founder liquidity only when the deal they are trying to get into feels incredibly competitive.

This happens only rarely, and only amongst investors who are open to providing some Founder liquidity (some are very against it!).

Generally speaking, it only helps the investor by allowing them to get into the deal but provides very little upside to the company a...