Expert Topic

Sales Compensation

Companies vary significantly on the structure of their sales organizations, depending on their business model.

Understanding the business model is critical to developing sales compensation plans that will drive the goals of the company and excite the sales organization to meet or exceed corporate financial targets. 

Keep in mind that sales compensation is probably the most important compensation plan in the company.

It needs to be clear in its components and transparent in its implementation.

Meet the Expert

Rick Smith

Consultant Rick Smith
Principal, RE Smith Consulting LLC
Incline Village, Nevada
  • English
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About Rick

  • 35 years of sales and marketing experience at the senior executive level in the medical devices and service industries
  • Expertise in commission plan design, implementation and administration.  Informed by deep experience with sales and marketing strategies; sales force organizational structures; merger-based sales force integration; and product introduction strategies
  • Led sales and marketing organizations for large multi-national, mid-size and startup companies, including Siemens, Toshiba, Acuson

Experience

Principal • RE Smith Consulting LLC
2010 — Present
  • Consulting services to medical device, software and IT companies specializing in the healthcare US market. 
  • Compensation plan design, sales and marketing strategies, sales force management, and product introduction strategies.
  • Clients include Siemens Medical Systems Japan, UMI (Ultrasound), and Imorgon Medical (IT).
Chief Executive Officer • Allocade, Inc.
2007 — 2010
  • Command and control systems for hospitals for real-time management and caregiver visibility of schedule changes for inpatient, outpatient and ER patients
Senior Vice President • Siemens Medical Solutions
2000 — 2005
  • SVP Global Sales & Marketing, Ultrasound division
  • Managed 500+ personnel and $1.0 B in sales
  • Achieved #1 U.S. and international marketshare.
Senior Vice President • Acuson Corporation
1992 — 2000
  • Acuson Corp was acquired by Siemens Medical Solutions in 2000.
  • SVP Global Sales & Marketing, responsible for all Acuson's product lines: general imaging, cardiology and radiology product lines. 
  • Managed 350+ personnel and $400M in sales globally and achieved #1 U.S. and #2 international marketshare.
Vice President • Toshiba American Medical Systems
1982 — 1992
  • Promoted from top-ranked Account Manager to top-ranked District Manager to National Sales Manager Ultrasound and then to VP Ultrasound Operations North America.
  • Achieved record divisional sales in last full year as Vice President (1991).
  • As National Sales Manager Ultrasound and VP Ultrasound Operations, grew sales from $14M to $64M in 3 years.

Education

Southern Illinois University, Carbondale
MS, Education, 1970

Thesis

Psychology of Performance
Western Illinois University
BS, Business Administration, 1969
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