While last month's column looked at "The Myth of Market Share," this column will address the realities of market share.

Record farm income and never before seen low interest rates over the last several years have enabled many dealers to make more money than they have ever made. Barring unforeseen economic and/or political events, all indicators point to continued prosperity for those dealers committed to managing their business successfully.

At the turn of the 21st century as the dot-com bubble came to a screeching halt, all eyes turned to the burgeoning real estate market.

While a survey of dealers revealed that 98% of respondents paid their sales personnel either on the basis of salary (30%), cash difference (28%), salary plus commission (19%) or gross margin (21%), the remaining 2% of dealers paid their sales staff utilizing an undisclosed form of compensation. This column, the last in a four part series on sales personnel compensation, will explore possible compensation systems that may have been used by one in 50 dealers.

While next month's column will continue to explore compensation systems for salespersonnel, the focus of this column will address those winning attributes that were personified by each of the Olympic athletes as they participated in their individual and team events during the 2012 Summer Olympics in London, England. Whether Michael Phelps, Usain Bolt, the U.S. women's soccer team, or any of the other hundreds of participants, four attributes emblematic of gold (Au) medal play stood out; namely, purpose, passion, perseverance and pride, and each of those attributes are similarly applicable to a successful career in equipment sales.

While previous articles is this series have addressed the two most prevalent types of sales personnel compensation — salary and cash difference — this column focuses on a system that is not used as frequently, yet should yield significantly greater results. It is a sales compensation system based on the equipment gross margin.

While the last installment of this column documented the general characteristics of a well thought out compensation plan, this column, and a few to follow, will address the three most prevalent forms of salespersonnel compensation. The series will conclude with a radical approach for progressive dealers who want to "think outside of the box."

In a survey conducted several years ago on how equipment dealers compensated their sales personnel, it was revealed that 30% of the dealers paid their sales personnel on the basis of salary while 28% of the dealers paid their sales force on the basis of "cash difference." While salaried sales compensation was the basis of last month's column, this column will explore the nuances associated with paying sales personnel on the basis of the cash difference that is "drawn"? on each transaction.

In addition to hiring the right person and clarifying the requisite objectives, tasks and responsibilities of the sales staff, another critical responsibility of the modern day sales manager is to develop a cogent and lucid compensation system that is easy to understand and rewards overachievers for their performance.

Once the sales department culture is set in motion and the sales department philosophy has been established and agreed upon, the next step in managing the wholegoods department is identifying and embracing the responsibilities of both the sales manager and the wholegoods sales personnel.