Business
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: Listen to our free resource (this podcast) and then put the action items into practice. Share your work with us via Twitter or podcast@catalystsale.com Invest in a Catalyst Sale course - self directed. Find our courses here Hire us as a consultant/advisor within your team or organization Thank You Please send listener questions and feedback to podcast@catalystsale.com or contact us directly on twitter, facebook or LinkedIn. This podcast is brought to you by Catalyst Sale - you can learn more about Catalyst Sale, and the products and services we provide via the following links. Growth Acceleration - Plateau Breakthrough Product Market Fit