Comp Plans Decoded: What Top Earners Know That You Don’t
Ever feel crushed by your comp plan and quota?
Lisa and Cindy sit down with Michael Williams, a multiple-time President’s Club winner, to break down exactly how to make your incentive plan work for you. From creating a “Dirty Dozen” target list to identifying high-ROI behaviors, Mike shares strategies that turn overwhelming numbers into actionable steps. Learn how to pivot mid-year, leverage networking, and maximize every dollar in your territory.
This episode is packed with practical advice for anyone in medical device sales or any sales role who wants to stop guessing and start hitting their numbers.
Episode Chapter Markers
01:46 Meet the Expert: Mike Williams
02:33 Understanding Your Compensation Plan
03:47 Breaking Down Quotas and Incentives
05:36 Strategies for Maximizing Earnings
08:21 Mindset and Motivation
11:18 Maximizing Opportunities
15:00 Navigating Different Territories
16:59 Identifying High ROI Behaviors
17:47 Understanding Your Market
18:23 Building Relationships with Clients
19:58 Adapting Sales Strategies
22:55 Self-Reflection and Continuous Improvement
23:56 Networking and Community Support
28:15 Inspiration and Continuous Learning
Must-Hear Insights and Key Moments
Breaking Down Comp Plans – Mike explains how to read and understand quotas, bonuses, and incentives without feeling overwhelmed.
The Dirty Dozen Method – How a targeted list of key accounts can help you hit your numbers consistently.
High-ROI Behaviors – Identifying which actions give the most return on effort for maximum income.
Territory Strategy – Tips on evaluating your opportunities and tailoring your approach to each account.
Networking & Mentorship – How reaching out to peers and mentors fuels ideas, motivation, and success.
Pivoting Mid-Year – Strategies for adjusting focus when some buckets aren’t hitting their targets.
Mindset Over Money – Focusing on goals and performance, and letting financial rewards follow naturally.
Continuous Learning & Inspiration – Using podcasts, peers, and reflection to improve sales performance every day.
Words of Wisdom: Standout Quotes from This Episode
“Focus on accomplishing your goals, and the money will follow.” - Michael Williams
“A dollar is a dollar, maximize it where you can and be efficient.” - Michael Williams
“Always be creative in how you get in front of someone; persistence matters.” - Michael Williams
“I’ve never wanted to be number one; I just don’t want to be at the bottom.” - Michael Williams
“Teach to learn again, explaining your strategy reinforces your own mastery.” - Michael Williams
"Nothing is given to you in this world. You have to work for it" – Michael Williams
“Ever feel crushed by your comp plan? Mike’s strategy turns that overwhelm into action.” - Anneliese Rhodes
“I love that you have that community and networking. It proves you’re never alone in this.” - Anneliese Rhodes
“It’s about focusing on the top line and getting there in the fastest, most efficient way.” - Anneliese Rhodes
“The Dirty Dozen list isn’t static, it's fluid, always evolving with your opportunities.” - Anneliese Rhodes
“Sometimes the small touches add up more than the big moves don’t overlook them.” - Anneliese Rhodes
“Stop worrying about what you can’t control, make a plan and execute it.” - Cynthia Ficara
“You have a choice in how you attack your job; focus on what lifts you up.” - Cynthia Ficara
“Identify high-ROI behaviors and give your energy to what actually moves the needle.” - Cynthia Ficara
“Even mentors need mentors to surround yourself with people who recharge you.” - Cynthia Ficara
“Simple math plus consistent action can turn any comp plan into success.” - Cynthia Ficara
Mentioned in the episode:
The HIDDEN Edge: What You’re Not Saying Could Be Costing You with Avery Lanman
What Most Reps Don’t Know (But Every Hospital Buyer Does) with Jeffrey DelVerne
Follow The Girls of Grit:
We'd Love to Hear Your Stories!
Ever had a comp plan or quota that felt impossible to hit? Maybe a territory was stacked with high-ticket accounts that were impossible to access, or one of your “buckets” just wasn’t cooperating mid-year. We’ve all faced those moments that test our creativity, persistence, and strategy. We’d love to hear your story. DM us or tag us and share the time you had to pivot, get creative, or lean on your network to turn a tough situation into a win. Your story might inspire another rep to attack their goals smarter, not harder, in the next episode.
Blog Transcript:
Note: We use AI transcription so there may be some inaccuracies
Anneliese Rhodes: Welcome everyone to another episode of Secrets in Medical Device Sales, brought to you by the Girls of Grit. And today we have an awesome I am super excited episode to talk to you guys about, because literally, this is something that every single one of you has talked about has been faced with, and it either makes you really excited.
Or really nervous, right? And so
Cynthia Ficara: that's the truth,
Anneliese Rhodes: right? And so today we have an expert on this topic, and I am just so excited because it's all about money, money, money, baby. Competition.
Cynthia Ficara: Dollar, dollar, dollar,
Anneliese Rhodes: right? It's like the money gun.
Cynthia Ficara: That's what we
Anneliese Rhodes: need. So we have today with us Mike Williams or Michael Williams.
Cindy and I are both super lucky because we've been able to work with Mike for many years. He has been, I don't know how many president's clubs, 10, 12, something like that. Anyhow, the guy makes a boatload of money. He's a smart investor, and he is here today to break down compensation for all of you so that you leave.
This episode knowing exactly what you need to be looking for in your compensation plans, right Cindy?
Cynthia Ficara: And we are very, very excited because you know, this topic comes up a lot and all of you out there listening think, how can I be better and how can I make more money? And there's no money better that we thought of than Mike Williams.
So without further ado, I would like to introduce you all to Mike and Mike, welcome. And tell us a little bit about yourself.
Michael Williams: Well, thank you, uh, Lisa and Cindy. This is, uh, I was so excited when you reached out, uh, a little while ago and asked me to do this. I was very honored, so I really appreciate this. Uh, it's my first podcast, so I'm super excited and, you know, you guys are so easy to talk to anyways, so this seemed like it's such a natural thing for me.
So, so take it easy on me, but,
Cynthia Ficara: uh,
Michael Williams: uh, so yeah, background, uh, about me. I've been in medical device sales for. Around 20 years through multiple companies, kind of like, just like you guys did. You know, it's kind of like you build up from the little, uh, non-invasive products and then you just kind of build building block in your career, learn things, different call points, and just, uh, you know, just elevate your career, uh, to that extent.
So, um, you know, previous to that, I used to be in B2B sales with a DP selling payroll services. Um, I always thought that was a great foundation to get started. But, you know, being in the Michigan area, Detroit area, you know, it was an automotive supplier option or medical devices. And I thought, you know, let me try this part.
It's, you know, not that, not cyclical and it's always about advancing technology. So, you know, it's been, it is been a great run and, uh, you know, love my job, love what I do, and you know, super happy to be here.
Anneliese Rhodes: I love it. Well, you made a lot of money doing it, Mike, so today we're gonna break it down for everyone.
How to Turn Overwhelm into Opportunity
So let's just dive right in. Um, we've got some good questions for Mike. So, all right, Mike, you know, you get your number for the year, you get your comp plan for the year. Here it is. Woo. It's overwhelming, right? Like for me personally, when I see all the numbers, I'm like, okay, I am not an accountant. I didn't go through finance.
I really suck at numbers. I just wanna make a lot of money. So what are the first three things or the top three things that you think you know immediately given the plan that are really important?
Michael Williams: Well, I think first and foremost, you just need to understand what your quota is and, uh, us usually it's a, uh, always a sticker shock, right?
It's never like lower than you thought it was gonna be. Right? It's
Anneliese Rhodes: never lower. That damn number always climbs.
Michael Williams: Yes. So I, I think it's very important just to kind of look at that and just kind of level set with that. And then, then just break it down from there saying, okay. If I'm at a hundred percent to plan, what type of money am I gonna make?
Right? And then you break it down beyond that, like what are the incentives? Like are, is there overage dollars? Are there MBOs? Are there quarterly bonuses? Are there, whatever, like if you're a trainer, do they pay extra for that? Do try to understand really. Wholly encapsulated what the opportunity is, and then you start to kind of, uh, build your framework from there.
So really just kind of understand the bare bones of it and then take it to the next level from there. Okay.
Cynthia Ficara: So, you know, it can be overwhelming and like, like Lisa said, you know, at first you think, oh my God, this number is so huge, and people are like, oh, I'm never gonna make that number, I'm never gonna hit that number.
I know you, you, you hear people that, that say that all the time. And so I like how your approach is almost like not just say big number and hit it. But now there's like areas to dissect it and understand it. So, um, can you just tell us a little bit more about how you do that? I mean, I know everybody listening doesn't have the same comp plan, but could you maybe give us one example about how you dissect that without, you know, or making it more general for everybody?
Yeah,
Michael Williams: yeah, sure. So, um. So in general, so when I look at my comp plan, I, I tend to just kind of work it backwards a little bit and say, all right, you know, let's face it, so say Lisa and Cindy, you know, we all basically, when we're working together, like we have the same comp plan, but we certainly don't have the same opportunities, right?
Whether you have teaching institutions or rural facilities, or. You name it. There's some places that have good payer mix, some don't. So really just kind of break down like what is your opportunity based on your previous, you know, experience in the territory where your opportunities are, and really just kind of align what the opportunities are with kind of how the buckets they're paying you and just start to build a framework from there, whether it's, um.
Like kind of working it backwards. Like I, one product category, I need say $500,000 in growth. And you say, okay, well that's, you know, that's three account conversions. If it's three account conversions, like, well, maybe I need like six or eight targets that I'm always kind of. That could fill that bucket knowing that you're not gonna get them all.
You know, that's, you know, that's not a good strategy to say, oh, I can get it off this company and that's it. Or this, this customer, as you know, it doesn't work that way. So you really need to identify, um, what your opportunities are based on your comp plan and just kind of almost like make silos, like, all right, this customer.
Uh, can, can make this happen and you start to cultivate it. But let's face it, they don't always pull through. So you, you just have to learn to pivot and kind of process through. So it's always a recycling of that. And sometimes you're coming back to that same person six months later, maybe, like, who knows what was going on there?
That new fellows, there was turnover, there was whatever, some sort of disruption. There was a merger with the hospital. I dunno if you guys ever have that happen. You know, so there's always, oh, you got a contract. So it, I think the, the key is like. Who can give you that number. And then of those, if you can get half of those or a third of those, can that still get your number?
And so I kind of break it down from that perspective, um, because at the end of the day, it's always about activity to kind of get us to where we need to go. And we, you can't just count on one strategy to make that happen.
Quota vs. Compensation
Anneliese Rhodes: So I have like a million questions going through my mind right now. Okay. But let me ask you this.
When you look at your comp plan, when it's handed to you, are you more concerned about the quota or are you more concerned about the money that you're gonna make? Or do those kind of go hand in hand? Like how do you separate one versus the other? And then as a side note to that. Do you have like a spreadsheet that you're saying?
Okay, so for this account, like you mentioned, you know, you have three account conversions and you need six to eight customers per account. Are you breaking that down per call point, right. Quarterly planner, are you breaking that down per call point? How are you, like, are you working alongside with another document?
Like, how are you keeping all this together, Mike? Because to be honest, sometimes for me it's so overwhelming that I find myself like I'm just gonna concentrate on one bucket in one account.
Michael Williams: Yeah. So, uh, I'll try to remember all that. Um, but, uh, but those are great questions. So I think at the beginning, your question was, do I worry about like the quota or the compensation?
Right. Um. In my experience through the years, if I got a bad quota, it feels like everyone got a bad quota. And I think the company, thankfully through the years, has recognized that and has pivoted to make changes. So I tend to focus on, you know, what I need to do on that. And if no one is making money based on.
A poorly designed compensation plan, then the company's gonna have turnover, they're gonna have all these problems. So like, you know, clearly I give my opinion back to my manager with the understanding that it is irrelevant, whatever I say, because he got his marching orders from his boss and his boss and his boss.
So, you know, I think he kind of have to just kind of swallow that and. Say, okay, what do I need to do? And at the end of the day, we are judged amongst our peers too, right? So, uh, if everyone is struggling and I'm still doing better than them, I should be okay. Right? So that I don't, I don't let it worry me too much because.
I can't do anything about it. And if it was a, a chronic problem that continues to happen, well, you know, who knows? Maybe I'll be looking for a different job at that point. Not, not my goal, but you know, that becomes a company issue on a poor design.
Cynthia Ficara: Sure.
Michael Williams: So, I. Like I have faith in leadership that they can course correct.
Um, you have to remind me on the second half of the question you had there.
Cynthia Ficara: Well, can I just, can I just interrupt and say, I think it's really important to point out what you said was huge and, and it's very much mindset in that, you know, we all feel that way. It's like a personal attack when you're like, oh my God, this, I'm never gonna make it.
Oh, I need to make money. And then you realize to stop and breathe. And I think that the way you handled that and the way you advise people to handle it. Is, you know what? This is what you're dealt with. You can control what you control. You're paid to do this job and now do your job. There are people that will spend half the quarter, three quarters of the quarter complaining, oh, the quota's so high, I'm not gonna do this.
But if you never even try, you won't even get close. And Mike, I just think that just deserved reiterating. That is a fabulous approach and I, I hope everybody out there. Really, really heard you say that. You just, all right, it's gonna be hard. Let's go, let's figure it out. So thank you. So sorry, second part of your next question.
Michael Williams: Yeah. As a follow to that, I think that's great insight as well, Cindy, because sometimes people put so much energy into that and it, it's the takeaway from what you really need to do. And you know, I've heard plenty of the phone calls through the years. I do my best to kind of. Pull people up versus let them pull me down.
A lot of times I just, you know, you know, like, listen, you know, you have your responsibilities in life and so do I, I'm gonna focus on those and I can't spend a lot of time on this. So, uh, I, you're right. I think a lot of people probably, if they were just focused on, you know, how they're gonna solve the problem versus the problem the whole time, um, I think they'd be in a lot better spot.
Anneliese Rhodes: That's great points, guys. I love that. Thank
Cynthia Ficara: you.
Anneliese Rhodes: Um, I think the next point that I, that I asked, and this is probably gonna roll into some other stuff, but you know how when you're breaking it down, right? So back to the whole compensation or well quota really, and where you're gonna get that quota from in order to get paid.
Do you have kind of a running list alongside like a little tab that you're making notes on saying, okay, I'm gonna get X amount from this guy, X amount from that gal, that kind of thing.
Michael Williams: Yeah, I mean, I, you definitely have to do that. And I usually try to do it conservatively. It was like saying, all right, this person, if I get, um, say projected 10 procedures a year out of them, um, this will gimme this amount of money.
And I'll even like say, all right, my a SP for that product category is. This amount. I'll kind of, I'll just kind of, I'll, I'll slide 'em down a little bit. Just kind of make it more conservative.
Anneliese Rhodes: Yeah.
Michael Williams: And then just add 'em all up and, and just know like, all right. Just as a reminder, like this is where my focus is, and I, I've actually done this for.
Good Lord. I mean, my whole career, um, I, I used to go in, I used to have print out my to-do list or my targets, and I'd put it in my visor, in my car as a reminder. I put it in my pocket and, you know, you know, my, my spouse was like, you know, you know, I, I don't know. Can't believe you do that. No one does that.
But it's like I learned a long time ago. If I don't write it down, I'll forget.
Anneliese Rhodes: Forget,
Michael Williams: you know, I, I learned that like 18, you know, like. I have, I don't have my todo list here, but usually it's, it's never, never complete and it's always at least a half a page.
Anneliese Rhodes: Yeah.
Michael Williams: And, um, you know, there's always something to do.
So, and that's my checklist for the day. If I don't know what to do, I go to my little list or I go to my target. And I used to have, um, I used to call my list for the quarter or the dirty dozen, you know, so I'd have like 12 targets, you know, just because I like the way it sounded, you know? I can say top 10, but like dirty dozen, you know, I
Anneliese Rhodes: like that.
You
Michael Williams: know, it's uh, you know, I do the English D for Detroit for the D 12, you know, you know,
Anneliese Rhodes: I love
Michael Williams: it. Like whatever. Just try to make it fun. Yeah,
Anneliese Rhodes: I love that. That's awesome.
Outwork, Outmaneuver and Outperform
Cynthia Ficara: I love that. Well, Mike, so which parts of the comp plan would you say many reps will either ignore or just completely misunderstand?
Michael Williams: Um, I think, honestly, I think in my experience, well, for one, it's hard for me to judge how other people view comp plans other than by the conversations, like the phone calls I get. Unfortunately, I think a lot of people just truly don't understand 'em very well at all. Okay. I think their quota. And they, um, they get bogged down in that so much, you know, so I, I think it comes back to what I said.
So I, I think usually me talking them off the ledge on the call, on, you know, I'm driving down the road and, you know, whatever between accounts is like, you know, just kind of like a fatherly approach. I'm like, all right, well go through what you have and this is what it is. Where are your opportunities in your territory?
Does this product category pay you a lot more money? And you actually have good opportunity there? Like if you can, if you can double your output there, like you'll, that'll more than make up with maybe on the other area that you're like, I don't know how I'm gonna make this up. So I, again, I think it all comes back to understanding your territory.
Um, it's ni it's niche of opportunities and figure out how you can optimize that. Love that. I know it's kind of general, but it's. But everyone's territory is different, right? Yes. So you just have to understand that. And, you know, if you're lucky, you can sell the high, high ticket items and, and make a ton of money on that.
Or if you're on the other side where you have a lot of. High volume on the lower ticket ones. I mean, you're gonna have to hustle, but it's there. So you know, that's where you live, that's where you gotta sell, you know? So, um, I think you just, it really just comes down to how do you maximize that by, 'cause I think we talked about before, uh, I look at comp not as compensation plans, but as incentive plans like that is giving you.
Incentive to do certain things. So listen to what they're saying because they're basically saying, Hey, we're gonna pay you four times commission on this one, and two times on this one. I don't know. Sounds like to me I should probably investigate this four x one a little deeper and see how can I get there.
So, uh. That's usually the conversations they have. And I think some people, just, like I said, does it get bogged down and they don't get it? And maybe the font's too small or, you know, the conference call went too fast and no one really went over and they don't wanna read it. I don't know. I mean, to me it's like an important document for your life, so you should probably focus on it a little more.
Anneliese Rhodes: Yeah.
Michael Williams: So,
Anneliese Rhodes: well, I was gonna ask you, you know, I mean, everybody wants to get the biggest bang for their buck, right? It's like, how can I make the most money? And you kind of just touched on it a little bit. But I was gonna ask you even more, so you mentioned in the beginning of this conversation, everybody's territory is different, right?
Some people have a ton of teaching hospitals, so you know, certain procedures are definitely gonna get done at those hospitals and then others don't. And so they have like more community based where maybe some of those higher revenue procedures aren't getting done. So. How do you handle it when you are faced with, you know, let's just say five or six buckets, or two or three buckets, right?
And you know, one of those buckets you're just not gonna hit, right? It's just not gonna happen for you. How do you manage that to still get the biggest bang for your buck at the end of the year?
Michael Williams: Well, I mean, Lisa, you know me well enough, that never happens, right? I hit every bucket every time, right? So, uh, no, I mean, uh, as you were asking the question, it, it kind of bounced through my career, even in this industry, uh, of different jobs I've had where, um, you know, I, I've had the opportunities in the teaching us, uh, uh, institutions, but I couldn't get in there.
So I had to go to the community ones. And so. While, let's just say the teaching ones, there's maybe bigger opportunity, bigger tickets, also a lot more competition there, you know, so, and relationships they have to contend with. So sometimes the smaller community areas, um, you know, for better or worse, like no one's bringing 'em lunch.
You know, you can out there and just make friends with them, and then all of a sudden, you know, the competition like. Especially if you're an up and comer, like the, uh, the, uh, you know, the, the market leaders, like, they're just taking phone calls. They're not knocking on doors, so you just knock on doors, turn over every stone and you know that that's the route I go on.
And so I think at the end of the day, um, a dollar is a dollar is a dollar. You know, like for the most part in my career, uh, 'cause you know, like you get buckets and some of 'em I just didn't do as well in. I'm like, you know what? I don't think you're ever gonna get fired if you hit, you hit a hundred percent.
You know? Yeah. So I worry about the top line and how I get there in the fastest, most efficient way. So, and you know, if you can play your cards right and have the overage dollars or the bonuses come into play, again, it's gonna be very dynamic on a comp plan. But again, I, I think it comes down to figuring out where it is.
You can get that number. In the most efficient manner. So hopefully that answered your question.
Anneliese Rhodes: Yeah, I like that. I like
Cynthia Ficara: that.
Anneliese Rhodes: Thank you.
Cynthia Ficara: That's, I'm just sitting here like mentally taking notes as you walk through, like really good points along the way, and I hope everybody's listening, you know? Um. And identifying those really, um, like as we say, like the highest ROI behaviors that you have that really what are you going to do to give you the biggest return on investment?
And even something you just said, like if you outwork your competition. You know, you've identified those three accounts you need of the six you're targeting and maybe the competition's not doing lunches and this place allows you to do lunches. Great. Um, and all those little things I think add up, but is there any other thing you would say, any other specific, uh, things you do to identify the highest ROI behaviors?
If you look at your plan.
Michael Williams: Um, yeah, I mean, obviously your plan will dictate the product. The product dictates the specialty, and then, uh, dictates the location, right? So if you have, um, a, without trying to get into specifics here for the effect of the podcast here, but, um, you know, I think. It's kind of simple, but um, this goes back to whenever you start the job, and I'm sure there's plenty of people listening to this, that they just started a new job and they gotta figure that out.
I mean, go to the, go to the website of the hospital, figure out who the doctors are, bring it all down, like, figure out where they trained at, you know, like you can really. Kind of dive in deeper and just truly understand. It kind of goes back to understanding all your opportunity. So if I'm at, say, university of Michigan and I just started, you know, I heard of this one guy, he is like famous.
He is, you know, does presentations, podium, you know, he is well published. And that's the only guy I know 'cause I just started the job. I go looking, I'm like, oh, there's five other guys here, let me just knock on the door and talk to 'em. 'cause like they're all doing the same procedures. Maybe the top dog is doing all the crazy stuff.
But I mean, they're all trained. Um, and they're teaching. So like they're all extremely well qualified for do this procedure. Sometimes it's, you know, they're unaware. I mean, for as much as we, we walk in there like, yeah, how do you not know my product? Like, you know, like, they don't like they right. That's our job to teach them that.
Yeah. And they're so, you know, dialed into their patient, their current practice and, you know, change is hard. So. It's just a matter of just getting in front of them and asking the questions like, are you doing these types of procedures? You know, how many times have you kind of talked to someone you realize they weren't even, they were doing something you didn't even know?
You know, like and or there's someone new, like there's always change. So you always just kinda have to do that, even if you're gonna go see your best customer there, you know, keep walking down the hall. Yeah. And like, oh, hey, what are you doing here? Like, I haven't met you. Here's my card. Can I come back?
You know, like, it's like you're like, all you do is loiter it, know? Mm-hmm. Or loiter at the cafe. Stalker. Like, oh, hey, funny Ronnie, you here, whatcha doing here? I'm like, I'm doing inventory. You know, you know, making sure you guys are good. You know, that's not why I'm here. That's,
Anneliese Rhodes: I always laugh. I'm like, I'm a stalker in the parking lot.
No, I'm really not many, but I
Michael Williams: get
Anneliese Rhodes: to be,
Michael Williams: you could do that in Florida. You can't do that in Detroit.
Anneliese Rhodes: This is good
Michael Williams: point. For many reasons.
Anneliese Rhodes: This is a very
Michael Williams: good
Anneliese Rhodes: point, Mike.
Michael Williams: Especially this time of year. It's too cold.
Anneliese Rhodes: Yeah, yeah,
Michael Williams: yeah.
Your Network Is Your Secret Weapon in Sales
Anneliese Rhodes: Okay, so, so I got a question for you, um, kind of switching gears a little bit.
All right. So. Let's move to the middle of the year, right? Okay. So you know what your comp plan is, you know what your quota is, and you realize you are super behind on hitting, you know, maybe one or two of those buckets, right? Like you're kicking it in all the others, but you're really missing the mark on the others or on the other two.
What do you do you know, next? And this is gonna be more of like sales strategy, right? Like I love talking strategy. So does Cindy. That's what we do all day long on this thing. Um, what are you doing, Mike? Because you've been so successful year in and year out, president's, clubs, you know, you realize you're really missing the mark on some things.
How do you kind of like, I don't know, put it in reverse and then move in a different direction?
Michael Williams: Well, that's when I give you guys a call while we're driving. I was like, Lisa, Cindy, like, alright, what are you guys doing? Like, I need some help. Like is, you know, but I mean, I'm being serious. Like, you just call and like you call your peers and just.
You know, talk shop and like, what are you doing? Like, uh, so our, you know, our rep in Chicago, like we, you know, we get along great and we're both kind of like, uh, kind of marketing idea guys really have fun with it. And he, like, he had said to me, he is like, he's like, yeah, I'd sent out to my docs, uh, um, you know, in Chicago, um, top new.
Top 10 new restaurants in town and he would like, send, send the link to all of them and say, Hey, do you, uh, wanna go to dinner and talk about, its one product at one of these places? And he send it like to 20 guys. I
Cynthia Ficara: love that.
Michael Williams: Right. And then he's like. He's like, four of 'em respond. I'm like, that's like incredible, right?
Yeah. And so I'm like, and you know, it's, you get to check out an awesome new restaurant, you know, it's company sponsored and you know, like, you know, you, you just, you just keep throwing that out there. And so I think it's always about ideas and like. Like, I've seen, like, um, like he and I kind of bounce ideas off each other, like whether it's, um, again, you just hear it like when we have our conference calls, our monthly calls, marketing calls, like, oh, this, we, we had a speaker do this here.
Or, you know, uh, the, a rep in Arizona flew their doctor out to Florida, you know, or something like that to do a talk. It was super successful. You're like, you know, that's a great idea. I'll start ground sourcing that some of my docs that are like interested, maybe my one guy that's a good customer at one of my hospitals if I wanna get his partners involved.
Like, Hey, you know, you just kind of share a success story of someone hearing things and just bring that in. Set that up. As you know, those are a lot of work. But, you know, they could be very impactful and, uh, you know, so I think you're always, you're always kind of re-engineering and pivoting. Like I said before, when I have my say my dirty dozen list, uh, that list is always, it's not static, it's always fluid.
It's always moving. You're like, all right, this guy, you know, I'm gonna, I'm not gonna keep bothering 'em. I'll just put 'em on the back burner, maybe come back. Um, so you just keep adding people and taking 'em off, or you pivot to another product. 'cause it kind of got stale. And then you're working on this other product and you're like, oh yeah, by the way, what about this?
He's like, oh yeah, I totally forgot. You know, but you're like, okay, really? I mean, I, I, I emailed you, I text you, I mail you, I drop stuff off. I, you know, you know, whatever I do a hologram, you know, whatever, you know. You just always have to just be creative in how you're gonna get in front of someone. And sometimes it's as simple as bumping them to the hall or doing inventory and like, what are you doing here?
So I think all those touches are really what ultimately kind of continue the sale forward. And, um. You know, I think it just really comes down to creativity and persistence and not giving up, and then also just getting better at your job. Um, you know, I was talking to a colleague today who is struggling on something and it is weird, like, you know, you know, the old saying is to teach is to learn again.
So I, and honestly, I be careful how I say here, but I was like. I was kind of like, you know, I don't know what to tell you here. And then I just started talking out loud. I started saying things and I was, I was actually convincing myself. I'm like, actually, I didn't do this. You know? And, uh, I, I think it just comes down to the more educated you are and more passionate you are, it clearly comes through.
So I think you, whenever you're in that rut, you kind of have to reengage with, alright, why is my product better than the competition? And maybe, what am I doing? Not so good. How can I do it better to relay that message? Because like sometimes you say the same message to the same guy and you're like, I can't believe he's not buying from me.
You're like, well, you keep saying the same thing. You know? And I think it's that self-reflection and self-awareness that, um, you know, you kind of have to have, and sometimes it gets slapped in your face when someone else is struggling and they're asking you a question and you realize, yeah. I'm like, I'm kind of totally missing the ball here.
So.
Anneliese Rhodes: You know, one of the things I'm really picking up with you, Mike, is that you call a lot of people, you talk a lot to people. And I think that, I mean, I don't really do a good job of that sometimes, like I'm like in my own little box, I'm like, Hey, I'm just gonna do that. I talked to Cindy. Right. But like, that's about it.
I like that you are constantly reaching out to other people. And Cindy, I know you were gonna say something. I'm so sorry. I did not mean to cut you off, but like. I, you know, I think it's really important that we remember that we're not alone, we're not a silo. People are in this together. Like you said, everybody's got the same type of comp plan, whether it's good or bad, everybody's got either a high number or a low number.
It's not like you just are the one that got the high number. So I, I love that you have that community and networking with not, probably not just your colleagues, but others as well. I, I have to commend you on that. I think you do a really good job of that. Well,
Cynthia Ficara: thank you. But I wanna take it a step further because there's somewhere in there that I took from early on in this conversation.
It's not that you reach out to a lot of people, you reach out to the right people and the people who lift you up, and yes, you help those. Somebody may call you for your advice and then you become their mentor. But you know. Even as mentors, there's moments where you get knocked down and all of us have to have that other person to build us up.
And you need that person when you feel the weight of like, oh no, this quote is big. Whoa, snap me back out of it. That's right. Control what I can control. Make a plan and stick to it. And you know, that comes down to choice. And we all have a choice of how we want to attack our jobs. And we said at the beginning of this call, you sit in a job that all of us sit in, most of us listening, all work in medical device.
We all start at the same starting line and we all get the same comp plan. And you've done a really good job of looking at, okay, I wanna get to the finish line, I wanna finish at the top, and I wanna make money. And along that way, you get knocked down along the way. But Mike, you have such a great way of focusing on your dirty dozen list and your goal, and you stay focused and then making the money you wanna make, and then you start to filter out a lot of the noise that people call you and let them weigh you down.
So networking and reaching out to people is very important when you selectively realize those that recharge you and those that completely deplete you. So, hmm. Uh, you've done an amazing job of like bringing a comp plan to life, or excuse me, an incentive plan. A lot of the things that you said, I mean, I'm hoping people are picking up, Ooh, I can do a little bit of this and I can do a little bit of that.
Focus on Your Goals, The Money Will Follow
So, I do wanna ask you, one is one comp plan move that you have, that you've done significantly made more money over time. Like, what is, is there anything consistently you've done? With your comp plans so that you do make this money.
Michael Williams: Um, I wish I had a good answer for you here, Cindy. Uh, but no, I don't. Um, okay.
What I, what I do is, um, I see what my quota is and you know, it, it may sound very strange, but like, um, I do not look at my comp plan to say, how can I make a million dollars this year? Or how can I make. Hundreds of thousands of dollars from last year. I don't do that. I actually focus on how it is I need to, uh, create my goals and attack my goals and accomplish them.
And I, I know, but just by default, if I achieve all my goals, the money follows and it usually follows very well. And you know, even like. This is like a, certainly a sales management topic they don't wanna hear, but like, I've never wanted to be the number one rep either. 'cause I, I've seen the number one reps and like, you have to wake up in the morning and go to bed wanting to be that person every day.
And I've always had the goal is. I just wanna be the furthest from the bottom. And by, because of that nature, I have always found myself at the top. Uh, although in this job, like, you know, depending on the comp plan, I may want to say, all right, this year, uh, I will see no one and I will be number one. Just check that box.
Uh, so that, that day is coming. Uh, it's just, you know, life is a little complicated these days. So, uh. But, um, I can see that happening. Maybe I'm waiting for that right comp plan to come in and say, okay, they, they really screwed this one up. I'm gonna take full advantage of this.
Cynthia Ficara: Well, gee, you, you've only won President's Club, what, 9, 10, 11 times?
I mean, really? That's tough.
Michael Williams: Yeah. I, I want, I wanna be the person that breaks the comp plan, not the person that has to deal with Oh, I like that. And being broken
Cynthia Ficara: that Yes.
Michael Williams: Yeah.
Anneliese Rhodes: Breaks the bank. I love it.
Michael Williams: That's right. I
Cynthia Ficara: know.
Anneliese Rhodes: All right, Mike, so before we close out, and this, by the way, this has been an awesome conversation.
I've really enjoyed myself. Honestly, you've inspired me on a couple things. I'm already like, okay, I gotta do that. Okay, I gotta do that. Um, I know you, you've gotta be a reader. You're a smart guy. Give us one or two of your top. It can be anything, right? Like, it doesn't have to be about medical devices or money or any of that, but it can be what are your one or two favorite book recommendations or what you're reading now or listening to, like what would you recommend to our listeners?
Michael Williams: Yeah, I, I remember you asked that on the front end and like, uh. Let's just say as I've gotten older, I don't read as many books as I used to, but I'm definitely into podcasts and especially with all over driving time because I find it more entertaining just like this right here. Like if even I'm been listening to an audio book, it's like, okay, same person over and over again.
I like the kind of the ban tour, the back and forth and um, I'm a big Joe Rogan fan and the shocking thing to me is that like. I'm not a u I've never been a UFC fan or like, he has just weird like, like just unique guests on there. But like these, he has a lot of these UFC guys and you just hear like their struggle and their discipline and their mindset and you know, there's just not these assassins in the ring.
It's like from the day they have their fight, like, uh, scheduled for whatever, 16 weeks, you know, you hear their story. Of what they do every day for, you know, how many times they work out, how they eat, how they just, their mindset is so nailed in and focus. And even like how they slowly progress. Like they're not just trying to kill it all one day.
They're like just knocking it out one at a time. And I remember, remember I had, uh. Uh, I guess a vp, uh, years ago, he had said, you know, like, how do you, how do you eat an elephant? You know, like one bite at a time, right? So like, I see it with, I, I find the inspiration in those stories. Uh, uh, and there's several of them.
We could put it in the show notes later, but, uh, yeah, like, I, I like that certainly, I like humor and all these other things, but you know, when you hear the, the, the story of someone that. Has just really, um, dedicated themself to working hard. And then it is just like, it's so magical to see them kind of achieve their success.
Like a lot of people, we just see them on the stage, you know, we don't see what it took for them to get there.
Cynthia Ficara: Mm-hmm.
Michael Williams: So I kind of go off those as my inspiration and, um, you know, it just reminds me that, you know, you know, nothing is given to you in this world. You have to work for it. And, um, it's good to get that reminder even if you're just driving down the road while you're doing it
Anneliese Rhodes: a hundred
Cynthia Ficara: percent.
Well, clearly some of that has sunk in because a lot of what you just said is what you actually execute in your daily work. And I just wanna thank you for sharing a lot of what you did today and I hope that our listeners take away your can-do mindset and, you know, look at your future. Incentive plan as you know, how do I solve this problem?
How do I maximize? And you know, I just really appreciate you sharing your, your simple math can lead to to true success. And you are very passionate with your work. You are very good at what you do. And. It's so great when you see that it, it's not given to you and you've earned it. Um, every penny of it and like they say, nothing good comes easy.
It's just really good to hear how when you do do the little things that we talk about all the time on this podcast and you put them together, you too can be multiple, multiple year over year president's Club winner and make a lot of money doing it.
Michael Williams: Yes.
Anneliese Rhodes: Oh my God, that was perfectly said, Cindy. So with that, we're gonna close this episode.
We hope all of you took away a number of pearls of wisdom today. If not, hit replay and listen to it again, and we'll put what we can in the show notes for y'all. Thanks so much, Mike. Thank you.
Michael Williams: Thank you guys. Thank
Anneliese Rhodes: you, Mike.
Michael Williams: This is, this was awesome. Thank you.
