Summary

In this episode of the Tapped In Podcast, Bud and Mike interview Hunter Jerome from Jerome Distributing. They discuss topics such as driving business results, the challenges of the beer industry, and implementing the VXP compensation model. Hunter shares his experience of working in the family business and the importance of providing data and clarity to motivate the sales team. They also talk about the role of leadership compensation and the process of getting the leadership team aligned and invested in the changes. The conversation focused on the implementation of the VXP method and its impact on the business. The main themes discussed were working with family, shifting from variable compensation to the VXP model, coaching the sales team, and the interaction with suppliers. The key takeaways include the benefits and challenges of working with family, the importance of aligning compensation with profits, the shift towards more strategic thinking and decision-making, and the impact of the VXP method on supplier relationships. Overall, the implementation of the VXP method has led to increased profitability and a more focused and engaged sales team.

Takeaways

Chapters

00:00 Introduction and Setting the Stage

06:24 Implementing VXP: Driving Sales and Profitability

09:27 Transparency and Knowledge: Motivating Sales Teams

16:19 Getting Ownership Involved in the Process

18:00 Effective Leadership Compensation: Aligning Goals

18:03 From Seeking Permission to Taking Ownership

19:35 Navigating the Challenges and Benefits of Working with Family

21:01 Transitioning to the VXP Model

22:02 Coaching and Empowering Sales Reps

24:05 The Importance of Considering Gross Profit Percentage and Dollars in Supplier Relationships