-
Incentive Compensation: What It Is & How to Implement
Typically, incentives are rewards that people receive for completing a specific task. Incentive compensations are financial rewards given to a salesperson for meeting or exceeding their quota. Giving individual or teamwide incentives motivates your sales team to meet and even exceed their quotas, increasing the company’s revenue. Here’s a guide on what incentive compensation is…
-
Minimum Viable Product: Definition, Strategies, and Examples
Introduction When it comes to launching a new product, the stakes are high. In order to mitigate risk and drive fast results, many businesses have adopted an iterative approach to product development known as the minimum viable product (MVP) strategy. An MVP is a version of a new product that has been stripped down to…