I've been reading Peter Diamandis's Abundance: The Future Is Brighter Than You Think. I am both intrigued and fired up over the way he views the potential of the next few decades. Diamandis's work is ultimately an ode to positivity and the potential of humankind to do extraordinary things. While his book covers everything from historic figure Pliny the Elder to solving the global water crisis, I kept coming back to his chapter about the power of incentive competitions. As a sales veteran and the CEO of a SaaS company that manages incentives, I've long been a believer in the potential of incentives. Incentives are nothing new; they've been used to accomplish major goals across the globe since the early 1700s. When the British Parliament wanted to figure out how to cross the Atlantic by ship, they offered 20,000 pounds to the person who won the "Longitude prize". The success of this incentive-driven competition encouraged leaders across the globe to use incentives to problem solve. Diamandis focuses on how powerful incentives can be in competitions that change our world for the better. He believes the success of such contests "can be boiled down to a few underlying principles. First and foremost, large incentive prizes raise the visibility...while helping to create the mindset that this challenge is solvable." What I enjoyed most about Diamandis's thoughts on incentives is that he highlights just how large the scope of incentives can be, from sticking to an exercise plan to providing food for nine billion people. Large or small, incentives have a great power that has not yet fully been unleashed. Using incentive prizes is helping to solve the world's most pressing issues like providing over a billion people in need with clean drinking water and finding sustainable energy sources. If you think about sales incentives like this, it makes it even clearer why strategic incentives have the power to inspire your sales teams and up-level your business. Incentives are an incredibly powerful lever that can transform the world at large and keep your salespeoples' eyes on the prize by giving them a tangible goal to achieve.
Feb 13, 2015