Team Management

How to Build a Winning Team: 6 Proven Strategies for Success

Running a successful business takes more than just you at the helm. 

It requires having a high-performing team operating like a well-oiled machine. 

Of course, every business owner knows that. Nothing new there.

But going from knowing to doing gets a bit tricky.

Take 5 minutes in your busy day to ask yourself this questions:

  • Is your current crew really a driving force for growth or holding you back? 
  • Are your team members frequently missing deadlines? 
  • Do you notice a high turnover rate? 
  • Is there a lack of new ideas and innovation? 
  • Do you need to constantly solve conflicts and misunderstandings among employees? 
  • Do you feel further away from your goals despite hard work? 
  • Are you the only one capable of truly running your business?

If you answered “yes” to 3 or more of those questions, it’s time for an intervention. 

A group of people in an intervention

Pushing forward with an underperforming, dysfunctional team will only lead to more frustration. Keep reading to discover 5 proven strategies and 15 solid practices/actions for transforming your human capital into a winning, cohesive unit propelling your business to new heights.

a tug of war between you and your competitors and your teammates

Table of Contents

  1. Chart Your Team’s North Star
    1. Decoding Vision vs Goals
    2. Why Your Crew Craves a Rallying Mission
    3. Visions and Goals That Ignited Business Legends
  2. Assemble Your Dream Team
    1. Experience vs Passion: What Matters More?
    2. Leverage Your Team’s Superpowers
    3. Diversity: Your Hidden Competitive Weapon
  3. Galvanize Your Team with your Leadership
    1. Unpacking the Leadership Styles
    2. Guide Don’t Grip: The Path to Autonomy
    3. Fostering a Culture of Trailblazers
  4. Ignite Collaboration Fireworks
    1. Roles and Responsibilities Redefined
    2. Design Open Dialogue Pathways
    3. Teamwork Exercises That Pack a Punch
  5. Deploy The Conflict Resolution Playbook
    1. Why Conflict Isn’t Your Enemy
    2. Drafting Your Conflict Resolution Blueprint
    3. “I” Statements: The Conflict Disarmers
  6. Conclusion

Do you want to dive in more on how to create a scalable business? Join my virtual event SMART Challenge.  I will show you 5 assets you should have to bolster up your million dollar business.

a collection of 5 assets of SMART Challenge event with a button to guide reader to click to check more details

Chart Your Team’s North Star

A team without clear direction is like a ship without a compass – just drifting aimlessly. In this chapter, you’ll learn how to set a strong vision and goals for your team. Having a defined purpose motivates people and aligns everyone’s efforts productively.

a hand holds a compass

Decoding Vision vs Goals

A vision is an overarching view of the future you want to create – it’s your inspiration, your “northern star.” It provides direction and inspiration, outlining the company’s purpose and the impact it seeks to make. 

Goals, on the other hand, are specific, measurable targets that help achieve the vision. They break down the vision into actionable steps, offering clear milestones and objectives for the team to work towards.

Why Your Crew Craves a Rallying Mission

Having a clear vision and goals is crucial for several reasons. 

  1. They provide a sense of purpose and direction. When team members understand the larger picture and how their roles contribute to it, they are more motivated and engaged.
  2. Clear goals help in prioritizing tasks and allocating resources efficiently, ensuring that efforts are aligned with the overall vision. 
  3. Having defined goals allows for measurable progress, making it easier to track success and make necessary adjustments.

Visions and Goals That Ignited Business Legends

Several companies exemplify the impact of having a strong vision and well-defined goals:

  1. Google: Google’s vision is “to provide access to the world’s information in one click.” Their goal of making information universally accessible has driven initiatives like Google Books and Google Translate.
  2. Tesla: Tesla’s vision is “to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.” Their goals include increasing production efficiency and developing affordable electric cars, which have revolutionized the automotive industry and promoted sustainable energy.
  3. Amazon: Amazon’s vision is “to be Earth’s most customer-centric company.” This vision shapes their customer-first approach. Their goals focus on enhancing customer 

Do you want to find more secrets on how to build a winning team?  Join the SMART Challenge to unlock more and ask me questions directly.

A SMART Challenge ticket and a button to direct readers to check more details on SMART Challge

Assemble Your Dream Team

Your team’s skills and talents are key to your success. This chapter will explore how to evaluate your team and ensure you have the right people to develop their skills and grow with your business. 

a group of people in a meeting with pleasure expressions on faces

Experience vs Passion: What Matters More?

When building a winning team, one crucial decision is choosing between relevant experience and high motivation. While experience brings valuable knowledge and proven skills, motivation often drives continuous learning and adaptability. Experienced individuals can navigate familiar challenges efficiently, ensuring smooth operations and stability. However, highly motivated team members bring enthusiasm and a fresh perspective. They are often more willing to go the extra mile, embrace new ideas, and drive innovation. Striking a balance between the two can be key; consider roles where experience is non-negotiable and others where motivation can lead to exceptional growth and success.

Leverage Your Team’s Superpowers 

Understanding and utilizing the unique strengths and talents of each team member is essential for maximizing productivity and satisfaction. Tools like the OAD (Organizational Analysis and Design) personality test can help identify these strengths. OAD assesses various traits, such as decision-making styles, communication preferences, and leadership qualities. By aligning roles with individual strengths, employees are more likely to excel and feel fulfilled. For example, a detail-oriented individual might thrive in a quality control role, while a creative thinker might excel in marketing. Utilizing personality tests can ensure that people are placed in positions where they can perform their best and contribute most effectively to the team’s success.

Diversity: Your Hidden Competitive Weapon

Diversity is a cornerstone of a successful team. A diverse team brings together different perspectives, experiences, and problem-solving approaches. This variety fosters creativity and innovation. For example, a marketing firm with team members from different cultural backgrounds brainstorms a new campaign. Their diverse perspectives lead to a unique and compelling concept that resonates with a wider audience, boosting the firm’s market presence and success.  

Moreover, diversity enhances decision-making by providing a broader range of viewpoints, leading to more comprehensive and effective solutions. Here is one example.  A manufacturing company forms a diverse project team to address a production issue. With varied expertise and viewpoints, the team quickly identifies the root cause and implements a multifaceted solution, reducing downtime and saving costs.

Finding the right person on the right seat is not easy.  I will show you exactly what I do in the SMART Challenge.  Take the chance to explore my billion dollar experiences face to face.  

a collection of 5 assets of SMART Challenge event with a button to guide reader to click to check more details

Galvanize Your Team with your Leadership

Strong leadership is essential for building a winning team. In the following paragraphs, I provide solid and practical insights on leadership styles and my billion-dollar business experiences on leading a team. These strategies will help you cultivate effective and inspiring leadership.

a leader is hosting a meeting with a group of successful team members.

Unpacking the Leadership Styles 

Strong leadership is a cornerstone of a successful team. There are various leadership styles, each with its unique approach to guiding and motivating a team. 

  1. Autocratic Style
    Autocratic leaders make decisions independently, often without input from team members, focusing on control and efficiency.
  2. Authoritative Style
    Authoritative leaders set a clear vision and direction, inspiring and motivating team members to follow their lead with confidence.
  3. Pace-Setting Style
    Pace-setting leaders set high performance standards and lead by example, expecting team members to keep up with their fast pace and high expectations.
  4. Democratic Style
    Democratic leaders involve team members in decision-making processes, encouraging collaboration and valuing diverse opinions.
  5. Coaching Style
    Coaching leaders focus on personal and professional development, guiding team members through feedback and support to help them reach their potential.
  6. Affiliative Style
    Affiliative leaders prioritize building strong relationships and team harmony, creating a supportive and positive work environment.
  7. Laissez-Faire Style
    Laissez-faire leaders provide minimal direction and allow team members to self-manage, fostering independence and innovation.

Understanding and adapting these styles based on team needs and situations can enhance team performance and satisfaction.

Guide Don’t Grip: The Path to Autonomy

Effective leaders provide support rather than micromanaging their teams. Micromanagement can lead to decreased morale, reduced creativity, and a lack of ownership among team members. Instead, leaders should focus on empowering their teams by offering guidance, resources, and support when needed. Regular check-ins and open communication channels ensure that leaders stay informed and can provide assistance without interfering in day-to-day activities. This balance allows teams to work efficiently while feeling valued and trusted, leading to higher productivity and job satisfaction.

Fostering a Culture of Trailblazers

Encouraging your team to take risks and experiment is vital for fostering innovation and growth. Leaders should create an environment where mistakes are viewed as learning opportunities rather than setbacks. This approach not only boosts creativity but also helps teams to develop resilience and problem-solving skills. By celebrating successes and analyzing failures constructively, leaders can help their teams to continuously improve and innovate. Allowing space for experimentation can lead to breakthroughs and significant advancements, driving the team and the organization toward greater achievements.Jon

Check Snow’s Top 9 Rules For Success And Leadership

Ignite Collaboration Fireworks

Collaboration is the engine that powers high-performing teams. When everyone works together toward shared goals, you’ll see higher engagement, better ideas, and greater productivity. This chapter provides proven practices for fostering a collaborative culture of teamwork.

Roles and Responsibilities Redefined

For collaboration to work, team members must understand how their individual roles and responsibilities intersect. Overlapping duties lead to duplicated efforts and inefficiency. 

Start by reviewing each person’s current responsibilities and skills. Identify any overlap, gaps, or misalignment of duties. Then, work with your team to clarify roles moving forward. Develop clear, documented role descriptions capturing key duties and deliverables for each position.

Revisit these role definitions annually or as your team evolves. Responsibilities may need adjusting based on employees’ strengths, development areas, and organizational needs. Consistent role clarity is key.

Design Open Dialogue Pathways

Clear communication channels are essential for ensuring that information flows smoothly within your team. This helps prevent misunderstandings, increases efficiency, and ensures that everyone is on the same page. 

In my company, we use Slack to manage our communications effectively. We have separate Slack channels for each department and product line, as well as one main channel that includes everyone. For urgent messages, we put a red dot at the beginning to catch attention immediately. Additionally, always tagging the recipients ensures that messages reach the right people quickly. This structured approach helps streamline communication and keeps the team well-informed and focused.

Teamwork Exercises That Pack a Punch

  1. Pair Programming or Buddy System
    Collaboration thrives through shared knowledge and accountability. Pair programming or implementing a buddy system ensures work gets reviewed and team members learn from each other continually.
  2. Problem-Solving Workshops
    Gather your team regularly to break down complex challenges together. Diverse perspectives spark innovative solutions.
  3. Lunch and Learn
    Schedule team lunches where different members take turns presenting on trends, best practices or their area of expertise. Sharing knowledge boosts collaboration.
  4. Rotation of Meeting Roles
    Don’t let the same people dominate meetings. Rotate roles like facilitator, note-taker, and timekeeper to keep everyone engaged.
  5. Virtual Coffee Breaks
    For remote teams, virtual coffee breaks provide much-needed casual interaction that builds rapport and trust between colleagues.

Come Meet Me LIVE and I’ll Show You How to Transform Your Business Into A Long Term Valuable Asset That Gives You Back Your Time.

A SMART Challenge ticket and a button to direct readers to check more details on SMART Challge

Deploy The Conflict Resolution Playbook

While conflict is natural when working in teams, left unaddressed it can destroy morale and productivity. This chapter provides solid practices for resolving conflicts in a healthy, productive manner that actually strengthens relationships and teamwork.

A lady is mediating a conflict between 2 guys in a office

Why Conflict Isn’t Your Enemy

Inevitably, even the most cohesive teams will face conflicts due to miscommunication, competing priorities, or clashing personalities and working styles. Avoiding or ignoring these conflicts allows resentment to fester.

Effective conflict resolution skills are crucial for maintaining a positive team environment. Resolving disagreements amicably reduces negativity. It prevents small issues from escalating into larger problems that derail momentum. And it models healthy communication practices that build trust and psychological safety for your team members.

Drafting Your Conflict Resolution Blueprint

Develop and distribute a straightforward conflict resolution policy that:

  1. Outlines steps employees should take when conflicts arise
  2. Defines what level of constructive debate and disagreement is acceptable/encouraged
  3. Specifies what conflict behaviors cross the line into harassment, hostility or insubordination

The policy should provide a clear framework for addressing conflicts productively at the lowest level possible through open dialogue. It should also establish pathways for escalating issues to leadership if they cannot be resolved between the conflicted parties.

Hold a team meeting to review the new policy in detail. Use examples to ensure everyone understands the process and expectations around.

  1. How to initiate conflict resolution procedures
  2. What constitutes unacceptable conflict behavior
  3. How to give feedback and receive it with an open mind
  4. When to escalate conflicts to the next level

“I” Statements: The Conflict Disarmers

Team members should practice expressing themselves with “I” statements during conflicts. “I” statements.. 

  • Reduce blame and defensiveness
  • Focus on resolving the issue, not attacking the person
  • Allow both parties to understand how actions affected the other

For example:

  1. “I felt frustrated when you missed that deadline because it impacted my workload.” Instead of: “You missed the deadline and screwed up my schedule!”
  2.  “I feel that my tasks aren’t being prioritized when you work on individual projects instead of team goals.” instead of:  “You’re always working on your own priorities instead of the team’s priorities!” 

Role-play scenarios where team members rephrase accusatory statements using “I” statements. Have the team provide feedback on which “I” statements are most effective for opening constructive dialogues. This practice builds psychological safety and conflict resolution skills.

Conclusion 

Building a winning team demands inspiration, structure, and emotional intelligence in equal measure. This guide has armed you with strategies for charting a unifying vision, assembling a dream roster of talent and leadership, fostering open dialogue, cultivating trust-based collaboration, and resolving conflicts constructively.

Even implementing a few of these team-strengthening principles can elevate engagement, innovation and performance dramatically. With clarity of purpose, role definition, and healthy communication – your well-oiled crew becomes unstoppable. The blueprint for team greatness is here. Seize it!

Ready to take your team’s success to the next level? Come meet me live at SMART Challenge virtual event where I’ll reveal how I build high performance teams plus 40 other fundamental assets every business needs to thrive. You’ll get invaluable insights PLUS the chance to get your burning questions answered live!

A SMART Challenge ticket and a button to direct readers to check more details on SMART Challge

Get The Best Out Of Your Sales Team

Your closers are part of one of the most important teams in your business…

And over the years, I’ve built sales teams of all sizes, including up to well over 100 closers.

I’ve tested many ways to train them, incentivize them, and help them perform to their fullest potential.

Some things worked, while others didn’t.

So, in this week’s newsletter, you’ll get a comprehensive list of things you must do if you want a closing team of top producers.

So, grab a notepad and a pen and get ready to make good notes…

Because this newsletter will be one of the most important things you read if you want to take your business to brand-new heights.

Why Your Sales Team Must Be Coachable

Before you hire any new closer, you must first find out if they’re coachable.

The way to do this is to roleplay with them and give them feedback.

If they take the feedback well and without ego, you know they’re coachable.

Next, you want to roleplay again to see if they can take the feedback onboard.

This will show they can implement feedback fast, which is exactly the type of person you need on your team.

Why Your Prospects Are More Important Than Your Product

The old way of sales is DEAD my friend.

Gone are the days of talking AT your prospect and selling the features and benefits.

In today’s market, your prospect is most important, and in fact, they always were, it’s just taken people this long to figure it out.

Every closer on your team must know your prospects inside out.

They must know their pains, problems, roadblocks, goals, fears, aspirations, etc.

Outside of that, they must have the product knowledge to know if you have a good solution to their problem.

You’d be surprised how many business owners don’t have a customer avatar document.

You should already have a detailed customer avatar to give new team members, especially in sales and marketing.

If you want to know how to create a customer avatar in 5 simple steps then click here >>

How To Set Them Up For Success

A lot of business owners don’t have a solid onboarding process.

They don’t set expectations well enough (more on this later)…

And they don’t give them the right materials to study.

So, here are 5 things that will help onboard your closers:

  1. Show them how to set sales appointments

    This should be done live either by you, your sales manager, or your top closer or appointment setter.
  2. Show them how to close deals live

    This should be done live either by you, your sales manager, or your top closer.
  3. Give them successful sales calls to listen to

    Find the best sales calls you can, and give them to your closers to listen to on repeat.
  4. Get them to roleplay amongst themselves daily

    If you have a physical office, you can create an objection game, so whenever your closers walk past each other they throw objections at each other and have to answer them on the spot.

    If you have a virtual office, then get them to set aside some time each morning for roleplay.
  5. Create an environment with tools that can train them when you can’t

    Recommend the best sales books… give them access to sales trainings you’ve invested in.

    Set up their environment in such a way that you’re not needed every time you want to train them.

    As the CEO you don’t have time to train your team every day, like I’m doing here >>

But you should train them periodically or find someone capable to do it.

What Expectations Should You Set Before They Start Work?

You’ll want to let them know their KPIs based on performance and behaviors.

Performance KPIs will obviously be the number of sales, but behavioral KPIs will be things like…

Clearing their pipeline every day… never being late for sales meetings… following up with prospects every 90 days or so, etc.

If they dip below their KPIs for two weeks or don’t meet your minimum expectations, they’ll need more training.

Hold them accountable to your expectations and their KPIs by firing them if they’re not met after a further two weeks.

Make sure you fire the bottom 25% of your closing team every quarter as well.

This keeps everyone on their toes and ensures you have the best producers on your team.

Why You Must Have a Leaderboard

You’ll want to set up two leaderboards either in your office or somewhere your team can see them daily in a virtual setting.

Have one leaderboard for sales results, and another for the daily tasks/behaviors I mentioned earlier.

Because it’s the behaviors that create results for them and your company at the end of the day.

Why You Must Create A Solid Compensation Plan

Your compensation plan must incentivize your closers.

We use a combination of a few different commission structures, depending on price point and profit margin.

Every new closer starts in my company as a setter, regardless of their experience.

They earn a percentage of sales for appointments they set.

After they’ve proven themselves by getting a predetermined number of sales, they then move to a closing position.

In this position, they get a base plus commissions, and we also work out a bonus structure that works similarly to the tiered commission structure.

Providing your closers with a base removes neediness and desperation.

The last thing I want in my team is a closer who is in survival mode because this causes most people to act on emotions and irrationally in a sales conversation.

How To Reward Your Top Closers

If you like, you can also reward your top closers with gifts.

The size of the gift isn’t as important as the fact that you’re giving them something for performing well.

It can be as small as a $20-$50 gift card.

Then, as you grow you can increase the size of the gifts.

In closing…

Training your closers, setting expectations, and rewarding them for good performance is key to building a successful closing team.

Until next time… go high ticket,

Dan Lok

P.S. – If you want to take your business to new heights this year, I invite you to attend the next S.M.A.R.T. Challenge™.

It’s our 3-day business immersive where you’ll get a sneak peek into my $100 million business playbook.

Get to surround yourself with hundreds of high-level coaches, consultants, and experts.

Get the proven strategies to SCALE, SYSTEMIZE, and SUSTAIN your business in ANY economic climate and much more.

Click here for the full scoop and to save your seat while you still can >>

We go live soon, so time is running out.

Happy Employees = High Profit?

We’ve all heard the phrases “the customer is always right” and “it all starts with your customer”

But is that really true?

My friend and CEO of 1-800-GOT-JUNK? Brian Scudamore disagrees.

He believes that no company grows sustainably without first taking care of its people.

When you take care of your people, they’ll take care of your customers, and your customers take care of your brand, reputation, revenue, and profits.

So, in this week’s newsletter, you’ll discover how to hire the right people and create a happy work environment, and a winning culture so your employees are taken care of.

This will in turn bring you higher profits and a much healthier business in more ways than one.

Before we get started, you may like to check out this snippet of an interview I did with Brian at the Dragon Summit™ last year…

Where he talks about the importance of finding the right person not just for your business but for you as well, and much more >>

Why Happy Employees Make All The Difference

The results are in, and studies show that happy employees mean lower employee turnover and higher revenues for the company they work for.

Here’s the thing, it’s a myth that more money is what makes an employee happy.

Sure, everyone wants more money, but if an employee’s job lacks responsibility and trust…

Or they feel like they’re being treated unfairly, or they feel like the things they say are overlooked or seen as unimportant, then this affects their job happiness.

How To Hire The Right People

Depending on the size of your business, hiring the wrong people can and will cost you hundreds of thousands or even millions of dollars over time.

Likewise, hiring the right people will save and make you millions of dollars.

My hiring strategies are quite unconventional.

Most people hire based on someone’s resume, whereas I’ve not read many resumes at all.

In fact, all my team members were hired based on their attitude, and we trained them on the job.

Many of them started in one position, but ended up in a completely different position, as I like to promote from within.

If you’d like some of my best tips and strategies for hiring the right people, then click here to watch this video >> 

How To Build a Winning Team

An average leader only takes the relationship with employees 1 or 2 layers deep.

As a result, the employees won’t stay loyal to them.

So, if you want to be the kind of person your employees will stay loyal to and do anything for, you must connect with them on the deepest level possible.

Now, depending on the size of your business this could be challenging, but still doable.

In this video, Gary Vee shares his method for getting to know and building a strong relationship with your employees >>

The method he shares is simple, yet effective, so set aside some time to implement this, and you’ll reap the rewards for years to come.

How To Create a Winning Culture

You may have heard the saying “no one man is more important than the mission”.

As the CEO of your company, you’ll have to make many tough decisions.

Some of which may be to fire people who don’t fit the culture even if they’re phenomenal at their job.

So how do you create a winning culture?

You first need to identify what your company’s core values are.

At Team Dan Lok, our core values are:

  1. Loyalty
  2. Harmony
  3. Extreme Ownership
  4. High Performance
  5. Constant Improvement

You’ll notice ‘Harmony’ is one of our core values, and that fits in with my previous statement of firing people who don’t fit, even if they exhibit ‘High Performance’.

So what would you like your company’s core values to be?

You could model some of ours and add a few of your own.

But you must first get clear on these, so you know if your employees are a culture fit or not.

How to Be a Better Manager

People ask me all the time, “Dan, how can I best manage my team?”

I used to be a micromanager, and what I realized is, not only does micromanaging waste everyone’s time…

But, I discovered people can’t be managed.

It’s much better for you to create a system for your employees, and your employees will manage themselves.

This makes your job as a leader much easier because your job is to coach and guide your team to success.

Not only are systems important for your employees, but they are essential if you want to scale.

Why?

Because you can’t scale if more of your time is being taken up every time you hit a new revenue level.

In this video, I discuss more reasons why you need systems to scale, and why you NEVER want to be the smartest person in your company >>

How to Become a Better Leader

Leadership is a learnable skill, and there are many ways you could become a better leader.

First, you must know what you need to work on…

And this could be challenging, but whenever a problem arises with an employee, think about how your leadership has played a part in that problem.

Then brainstorm ways this problem could have been avoided if different actions were taken.

But if you’d like to know the 10 skills every good leader should have, then click here >>

To summarize this newsletter, if you take care of your employees, they will take care of your customers/clients.

It’s really that simple, but there’s a lot that goes into it, as you’ve just seen.

Until next time, go high ticket,

Dan Lok

P.S. – As I mentioned earlier, systems are vital to your business.

As luck would have it, we’re running our next S.M.A.R.T. Challenge™ on April 19-21.

This is my 3-day business immersive where you’ll gain the secrets and strategies I and my clients use to SCALE, SYSTEMIZE, and SUSTAIN our businesses through any economic climate.

I’ve used these exact strategies to generate over $100 million in my coaching/consulting business, and now I’m handing them to you on a silver platter.

We only run the challenge a few times per year, so don’t miss your chance to borrow my high ticket business playbook and make 2023 your best year yet >>

Unsure How To Pay Your Closers?

If you’re unsure of the best way to pay your sales team, then you’re in for a treat…

Because in this week’s newsletter, you’ll discover many ways to structure your team’s commissions…

You’ll also discover what I believe are the best ways to compensate them…

I’ll give you a sneak peek into how I pay my closers and why I’ve chosen this method…

And you’ll also get my simple but powerful method for removing complacency and keeping your closers on their toes.

Let’s get started…

3 Goals Of Your Commission Structure

When structuring commissions for your team, you should have 3 goals in mind.

  • Increase closer motivation…
  • Boost sales and productivity…
  • Reduce staff turnover…

With those in mind, let’s dive into some common commission structures.

3 Of The Most Common Commission Structures

Believe it or not, there are at least 10 different ways you could structure your team’s commissions.

But today, we’ll cover just 3 and I’ll give you a link so you can gain insight into the other 7.

  • 100% Commission

This is beneficial for both the company and the closer.

Why?
Because the company doesn’t pay the closer a salary, they can offer a higher commission rate.

The closer will feel like they are in complete control of their income.

There is no limit to how much the closer can make.

This is a great way for the closer to gauge their performance.

But, one of the biggest problems with this model is it can cause neediness and/or desperation, as they only “eat what they kill”.

Furthermore, closers could resort to unethical sales techniques in order to make sales in the event of a quiet sales period.

Another problem with this model is it can cause a high turnover rate, if closers don’t perform or are unhappy with their income.

  • Base Salary + Commission

Here you’ll provide an hourly rate or monthly income and you’ll also pay your closers for each sale they make.

You’re invested in the closer, and you both carry certain levels of responsibility.

The base should not be so high that the closer can get complacent and lazy…

But it also shouldn’t be so low that if they run into challenges they can’t survive without making sales.

This model still rewards high performance, and as you control the number of hours the closer works, you can still predict fixed salary expenses.

Any extra outlay is of course connected to sales made.

  • Tiered Commission

If you want a good way to motivate your team to close more sales, a tiered commission structure may work well for you.

With this type of structure, your closers will earn a higher commission when they hit certain milestones.

For example: If they close anything under $20,000 they may get 5%.

Anything over $20,000 but under $50,000 may see them receive 8%, and so on.

It’s up to you how far you want the tiered commission to continue and what percentage you award them each time they hit a new tier.

This helps motivate them to continue closing sales even after they’ve hit their monthly targets, as they’ll receive greater compensation.

Click here to discover 7 other commission structures you could potentially install into your business >>

How I Pay My Sales Team

In our business, we use a combination of a few different commission structures.

Regardless of experience, every new closer starts as an appointment setter.

They earn a percentage (dependent on the price point and margin of the offer) of sales for appointments they set.

After they’ve proven themselves by getting a predetermined number of sales, they then move to a closing position.

In this position, they get a base plus commissions, and we also work out a bonus structure similar to the tiered commission structure.

As I mentioned earlier, providing your closers with a base removes neediness and desperation.

The last thing I want in my team is a closer who is in survival mode…

As this causes most people to act irrationally and emotionally in a sales conversation.

How To Keep Your Closers On Their Toes

One huge challenge you’ll face no matter how well your sales team performs is people becoming complacent.

It’s very common for people to get too comfortable and even lazy at times.

So, in order to get around this, and to ensure you always have the highest performers on your team, here’s what I do.

Every quarter, I cut the bottom performers.

It’s up to you how many or what percentage of people you cut each time, but if you have 4 or 5 people on your team, you may like to cut the bottom person.

I think 20-25% is a good portion to cut, depending on the size of your team.

How to Turn Your Sales Team Into A Force To Be Reckoned With

If you want your team to perform to the best of their ability, you have two choices, [Name].

Either you can assume they’ll train themselves and upgrade their skills on their own dime…

OR

You can get on the front foot and provide them high-level training vital to their success.

Now, I’m in a unique position where my team has access to the hundreds of hours of sales training I’ve created.

In fact, in order to get a position on my team, each closer must have taken my High Ticket Closer Certification™

This proves to me they’re serious and they understand my sales methodologies.

But if you’re not at the level where you’ve created sales training, or perhaps you’d like to bring in some outside training…

Then I invite you to check out the Dan Lok Closing Collection >>

This collection compiles 6 of my most effective sales trainings, including:

How To Sell High Ticket Consulting Programs And Services… The Perfect Closing Script… Objection Handling Secrets… Persuasion Secrets… Prospecting Secrets… and Negotiation Secrets.

By the time your team has been through these programs, their closing skills will be like night and day from where they are now.

And the best part, each program works out to roughly $66 each.

In my opinion, it’s a complete steal for the potential value you could receive if your team implements the teachings. 

And if perhaps the collection is outside your budget, there are other trainings you can invest in individually if you wish.

Here’s the link to check out the rest of my sales trainings >>

To your success,

Dan Lok

P.S. – If you want your sales team to have complete confidence when speaking with prospects…

One of the best ways to achieve this is by having an irresistible high ticket offer.

And if you want my help to create an irresistible high ticket offer in just 3-days, then click here for the full story >> 

Leverage Your Effort For Max Return..

Have you ever thought to yourself…

“If only I could duplicate myself, my business would run smoother and more profitably”?

If so, you’re not alone.

Trying to be everywhere in your business is a challenge every coach, consultant, or expert faces throughout their career.

And whether you’re at the stage where you can hire a Chief of Staff, or a Chief Operating Officer or not…

There are things you can do to effectively “duplicate” yourself in your business to leverage your time better.

How To Leverage Your Time If You’re a Solopreneur

If you’re the only person in your business, you’ll feel run off your feet at the best of times.

And if that’s you, then it’s absolutely VITAL you create systems and ways to streamline your operations.

I’m talking about templated emails, simple spreadsheets to record your sales and expenses each month, and other systems that make your business run smoother.

If you find you’re sending out the same emails often, create a template you can copy and paste so you only have to change minor details.

Sit down for a small amount of time each week to record any sales and expenses that came in in the last 7 days.

By the end of the month, your records will be top notch and it may only take 10-20 minutes.

Every time you notice “time vampires” sucking your time out of your day, that’s an area you could potentially systemize.

Be sure to document the process, so when you do hire an employee, they can pick up the task with minimal supervision in the beginning and ultimately zero supervision.

You can also find software online that saves you time, depending on the task.

An obvious example is social media post-scheduling.

How To Leverage Your Knowledge As an Expert

EVERY coach, consultant, or expert should leverage their knowledge online.

I’m talking about books and e-books, podcasts, online courses, lead magnets, webinars, etc.

You likely know this already, but what I’ve learned over the years is, we don’t always do what we know.

And to know and to not do, is to not know.

So, if there are any areas you could improve upon in your business when it comes to leveraging your knowledge…

Think of this newsletter as a kick in the butt to make it happen.

How To Ensure Your Material Reaches a Wider Audience

Speaking of leveraging your knowledge, this next strategy will work best for coaches and experts.

It has to do with creating certification programs that teach others your methods for getting clients amazing results.

You can effectively duplicate yourself with every new person you bring under your umbrella.

You sell the program and potentially get a cut of each client they coach, depending on how you set it up.

This allows you to spread your message faster, and also brings you multiple income streams in addition to your client work.

We have many certification programs in our business, most notably the High Ticket Coach™ Certification.

The potential here is limitless.

If you want to know how to create a high ticket program, then click here >>

How To Leverage Your Time With Group Coaching

I wrote an entire newsletter about group coaching and why I believe it’s the holy grail to not only scale your business but also leverage your time.

Look out for it in your inbox if you’d like to review it, the subject line was “Why group coaching eats 1-on-1 for breakfast…”

You can save so much time and make far more money with group coaching it’s not even funny.

Here are some of my best tips on running group coaching calls >>

How To Double The Size Of Your Business

I mentioned the job title Chief of Staff earlier in the newsletter.

A Chief of Staff is someone who thinks like you and can do things like attend meetings on your behalf, make key decisions, as well as carry out certain tasks you would normally do.

Hiring one is one of the quickest ways to duplicate yourself in your business, and has the potential to help you double the size of your company…

But like you, they can only do so much.

Eventually, your business will grow to the point you need another Chief of Staff because you can’t scale an employee.

At this stage, instead, what you want to do is hire a Chief Operating Officer.

A COO designs and implements systems and processes so a competent person can carry out key tasks overseen by the COO.

(Side note: I’m likely to do an entire newsletter on hiring key employees such as a COO in the future, so keep your eye out for that one.)

Of course, if you want to hire anyone in your company, you must stop micromanaging, if that is something you do.

I used to do this a lot, and I think it’s something almost every business owner does at first until they realize it’s stopping them from doing their job and their business from reaching its full potential.

How to Stop Micromanaging

The counter-intuitive thing about micromanaging is that it does the exact opposite of what we intend.

We think it will make things run smoother, and more effectively, and that tasks will be done to a higher standard…

But all it does is waste your and your employee’s time.

Not to mention it’s frustrating for all involved.

If micromanaging is something you do, then click here for 3 ways to stop >> 

So there you have it…

No matter the size of your business, there are always ways you can leverage your time, to save you trouble, and make your business more efficient and profitable.

Whether it be creating digital versions, your own systems, using software, passing on your expertise to others, or hiring key employees.

I hope you enjoyed this week’s edition of High Ticket Weekly, until next time…

Go High Ticket,

Dan Lok

P.S. – If you want to know how I weathered the storm of the last 3 years of what’s been the toughest period in economic history…

Click here for the full scoop, on how to SCALE, SYSTEMIZE, and SUSTAIN your business for years to come >>

So you can build a robust business that withstands the test of time.

How To Fill Your Team With “A Players”

Everyone wants a team they can hold accountable…

A team that works well together, so they can minimize having tough conversations with members who don’t perform.

I’m talking about “A Players”.

So, in this week’s edition of High Ticket Weekly, you’ll discover how to rate your team members…

How to hold them accountable…

And how to handle team members who underperform, and have tough conversations if needed.

How To Define An “A Player”

It goes without saying that an “A Player” is someone who consistently performs at high levels and exceeds expectations. 

But what specific characteristics do they possess?

Because before you fill your team with “A players”, you must know what to look for. 

Now, you may already have a definition in your head, but I believe “A players” should possess these six characteristics. 

  • High productivity levels: They should be able to handle high workloads and complete work to a high standard over short periods of time.
  • Strong skills and knowledge: They should have strong technical skills and be able to apply these skills to their work.
  • Proactive and independent: They must show great initiative, pick things up fast, and be able to work and solve problems with minimal or no supervision.
  • Positive attitude: They must love what they do and enjoy working within the company. They must also contribute new ideas and work well with other team members.
  • Strong communication skills: “A players” have strong written and verbal communication skills they use to communicate their ideas to you and the entire team.
  • High EQ: I believe Emotional Quotient eats Intelligence Quotient (IQ) for breakfast. Sure, “A players” are often intelligent too, but they don’t have to be a genius to be an “A player” if they have a high EQ.

IMPORTANT: Each role has different expectations, and the definition of an “A player” will vary between departments.

Now you have a clear idea about what an “A player” looks like, you can create a rating system and begin to rate your team members to see how they measure up.

It’s possible you could train a “B player” to become an “A player” over time.

When rating team members it’s important you use clear and specific criteria for each role and stay consistent and objective with each rating.

If you’d like to know my simple method for measuring my teams performance, click here >>

How To Keep Your Team Motivated and Accountable

People ask me all the time, “Dan, how do I motivate my team?”

The truth is, you don’t.

You find people who are already motivated.

That cuts out a lot of the training and hard work on your behalf.

So, knowing that your team is already motivated, let’s speak about ways of holding your team accountable, whether they’re remote or not.

How To Keep Your Team Accountable

I believe one of the most vital keys to accountability is setting clear expectations.

These should be set each time a new employee joins the team.

There should be clear expectations around each project, such as budget, first draft due, and final deadline.

Communication is always important, but in a remote setting, it’s even more important.

You may like to set up a weekly meeting and a daily check-in if needed.

Employee engagement is also a key factor and there are things you can do to boost engagement such as frequent communication, and team-building activities.

These are just 3 of 8 ways to keep a remote team accountable.

If you’d like to know another five ways of holding your team accountable, then click here to read this short article >>

How To Handle Team Members Who Don’t Perform

Every business has team members who don’t perform at some point in time.

They may submit subpar work… they may constantly miss deadlines… there could be an energy mismatch between them and the company as a whole.

Whatever the reason, it’s expensive and time-consuming to look for new employees all the time…

So, here are a few ways of helping them improve their performance.

It all starts with communicating your concerns, so you and the employee can identify the root cause of the problem.

Ask them the right questions, and once you’ve uncovered the problem(s) you can create new targets and offer support and resources for them to improve.

You must also set clear expectations so the two of you know if the new targets are being met.

Finally, you must follow up with them and monitor their progress.

I shot you a roleplay of me coaching one of my event attendees on how to have a conversation like this >> 

How To Have Tough Conversations With Employees

Should any team member continue to underperform even with your support, eventually you’ll need to have an even tougher conversation to let them go.

Here are 3 things to think about before and while you have the conversation.

  • Make sure you prepare in advance and plan what you’re going to say. Be clear and direct with a clear outcome for the conversation, and have an answer for any challenges or objections that may arise.
  • Choose a private location where people can’t interrupt you or overhear what’s being said.
  • Practice aggressive listening: Pay close attention to what your employee is saying so you can construct thoughtful and respectful answers.

So there you have it…

My best tips for identifying and keeping “A players” in your organization…

Keeping your remote team accountable…

And dealing with underperforming employees.

I hope this newsletter has been of great help to you and your business.

Until next time… go high ticket,

Dan Lok

P.S. – Our 3-day business immersive High Ticket Mastery™ is coming up VERY SOON.

It’s the first and still only immersion training that destroys the low ticket mindset once and for all…

And replaces it with the identity change needed to run a High Ticket Business.

If you’d like to kick start the new year with an irresistible high ticket offer, a flow of high ticket leads, and the ability to sell without feeling needy or inauthentic…

Then click here for the full scoop >>

See you there