In this episode, Mike and Jody discuss the definition of pipeline and common challenges associated with a Sales pipeline.
Questions Answered:
- When we say pipeline, what are we talking about?
- What are some common pipeline challenges?
- Are there different segments of the pipeline?
Key Takeaways:
- Sum of all of the opportunity that is out there = pipeline
- Weighted probability of closing that business = forecast
- Challenge 1 - actually doing the work and getting in front of customers
- Challenge 2 - Deals sit in the pipeline for too long
- Challenge 3 - Neglecting to put things in the pipeline because you are not sure if it will turn into anything.
- Don’t get emotionally attached
- If you have a 45 day sales cycle, evaluate your pipeline every 15 - 30 days
- If you have a 6, 18 or 24 month sales cycle, evaluate your pipeline monthly or quarterly.
- A forecast is a sub-set of pipeline.
- If I am not managing the pipeline well, it will have a negative effect on my ability to forecast with any level of predictability.
- I firmly believe you can forecast if you leverage data and simplify your process.
Work With Catalyst Sale:
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Thank You
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