A balanced and effective compensation plan is key to motivating your sales team, and a motivated sales team may be the difference in achieving new growth in this challenging economy. But different people want different things, so a starting point in designing such a plan is to talk with your sales people and understand what motivates them.

Some may be looking to pay for their kids’ college education, others to purchase a retirement home or pay down credit cards, still others, the potential for promotion, other recognition or even time off.