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Franchise Agreements: What They Look Like and What to Expect

Franchisor-franchisee relationships don't start vaguely and arbitrarily. Establishing a franchise involves more than a handshake, trust, good intentions, and an unspoken understanding of what both parties expect out of their relationship. It requires a record of clear, legally documented protections and obligations to set things in motion. That record...

Sole Proprietorships vs. LLCs: Pros and Cons, Plus Which One is Best for You

If you're looking to start your own business, I'm willing to guess you've already heard this question at least a handful of times: "Are you going to become an LLC, or stay a sole proprietor?" To understand the difference between an LLC and a sole proprietorship, let's start with an example. Let's say I recently started selling hand-carved wooden...

The 8 Best Real Estate Designations for Prestige and Expertise

A successful career in real estate is rooted in trust — developing a reputation as a knowledgeable, experienced, adept, and attentive advisor and advocate. But how can you project those qualities to your potential clients? How can they know for sure you know what you're doing? Well, one way to get there is through pursuing something known as a real...

Limited Partnerships: Their Structure, Value, & Practical Examples

A limited partnership is a business model that can connect bold, enterprising entrepreneurs with savvy investors looking to finance lucrative, low-touch business ventures. If you fit either of those bills, thoroughly understanding the concept is in your best interest. Here, we'll explore the model further, differentiate it from similar business...

5 Tips for Successfully Navigating the Bargaining Zone

I knew nothing about the bargaining zone when accepting my first job offer. Wide-eyed and nervous about getting rejected, I accepted the initial salary — and came to regret it soon after. Luckily, I've learned how to navigate the bargaining zone while working with executives and salespeople who have skillfully negotiated everything from multi-million...

12 Advantages and Disadvantages of Owning Your First Franchise

Think of your favorite fast-food restaurant — are there multiple locations? Is it even available in different countries? If you answered yes to both, this is likely because it’s a franchise. There is an original business owner, but independent parties have bought into the business and opened their own locations. So rather than one person managing...

What is a Franchise Fee? A Comprehensive Overview

It might go without saying, but owning a franchise doesn't come cheap. Franchisees aren't allowed to just buy a retail space, decorate it with a franchise's branding, serve its products, and tack a sign on the door with the franchise logo. The rights to do any of that comes at a price — a price that's most commonly referred to as a franchise fee. Here,...

How the "Rule of 78" Can Help Calculate Sales Quotas

The rule of 78 is one of the quicker, more straightforward ways to put together a solid estimate of your annual revenue. Here, we'll take a closer look at the rule, what it entails, how to use it, and how it can be leveraged to assist with calculating reasonable sales quotas. Let's jump in. The Rule of 78 Applying the rule of 78 is pretty...

Why Process Strategy is Key for Sales Ops Success

Many organizations fail to outline and document procedures when it comes to producing products, handling service concerns, or guiding their customers along their buyer’s journey. Without these documented procedures, employees are forced to start from scratch every single time, leading to wasted time, energy, and money — along with stress on your team...

Why RevOps Is the Answer to Your Compensation Planning Headaches

Creating the right compensation plan is one of the more difficult tasks you have to account for when building a sales team. If it’s too simple, you run the risk of missing some integral parts of your business, but the alternative might actually be worse. If you build a plan that's too complex, your reps might not understand it, or — worst case scenario...

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