Lessons From The Great Recession: Setting Quotas When The Economy Is Unpredictable and Turbulent
Although the National Bureau of Economic Research considers the recession over, many businesses are still feeling the impact of the downturn of the economy. Businesses and individuals continue to confront the debt hangover and deleverage while eagerly waiting for a definitive sign that the worst is behind us.
Executives are beginning to be more cautiously optimistic about the economy. Business prospects appear to be brightening but executives are still wary of taking any significant risk.
Most executives agree that the climb up from the 2007 financial meltdown needs to be slower and is going to be longer than anyone wants.
As the budget planning process for companies on a calendar fiscal year progresses, it’s time to begin thinking about setting sales expectations and quotas for 2011. What is the best way to set sales reps quotas with all the economic uncertainty?
The Great Recession has provided some key lessons in effective quota setting in a turbulent economy, which looks to be the “new normal” for the foreseeable future. Many of these insights also apply during more robust economic times.
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