Streamline your sales opportunity qualification for Manufacturing

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hey there Brian Conway here from achieve success  and welcome to 4-minute Friday now this week's   sales subject is gonna be about qualification  of opportunities to help make them stronger and   therefore more winnable and more for castable as  well as regards to when they might actually close   which obviously strengthen and improve your  pipeline etc and now the content comes from a   course called target account selling that many of  you may actually have been through this program so   often referred to as Taz and this content came  up because this week was with a client and we   were doing a workshop with their sales team  around opportunity qualification and looking   at improving their pipeline and everything I just  mentioned and so a number of things came up that   I remembered from tears because tears actually  has a number of frameworks that can be used to   qualify opportunities very effectively so there's  four key areas that we ended up discussing so I'm   fully attributing this to Taz this isn't kind  of my content although it is sort of fairly a   kind of generic best practice sales activity but  worth reminding ourselves perhaps of some of these   things and therefore hopefully things that you can  question about your own opportunities in your own   pipeline that might help improve them and bring  them to conclusion for you so Taz looks primarily   at four things first of all it looks at you know  do we have an opportunity then it will look at   can we compete for that opportunity then it takes  that a step further that asks you know assuming   we can't compete can we win okay because sometimes  qualifying out an opportunity is just as important   and the final thing it looks at is do we want to  win all right which is an interesting question   you know which comes down to come with a value not  only to the business but maybe even the time and   effort that might be put in to try and win it when  would that ever be worthwhile invested elsewhere   so when it comes to it the opportunity itself and  is there an opportunity it's asking things like   is there a project is there a compelling event you  know how do we understand the requirements and do   we understand sort of the driver behind the need  do we have any stakeholder kind of relationships   at the moment that we can leverage that's  what I know is there budget some fundamentals but   really important things that perhaps sometimes we  forget to think about when we're in the thrust of   chasing a deal down assuming there is a fully  qualified opportunity the next thing that this   then looks at this framework as I said is  can we compete so competing will look at   things like how well does our solution fit the  customers need you know do we understand what   the decision-making criteria are and make sure  that our proposition and our company perhaps is   in line with our customers business and and their  demands of a supplier it look at things like do   we understand what business value will be derived  from our opportunity and even what resources might   we need to actually enable us to if not in win  the business but actually maybe even fulfill the   business so you know is it really worth competing  for then as I said the next question is do can we   win it and that look at things like the internal  support you know do we have a sales champion   inside the company that we could leverage  that has our back that will help us win the   piece of business it will look at top political  alignment as I said things like this is making   criteria but also things like differentiation if  we're gonna win it have we got enough of a unique   proposition or are we able to demonstrate the  measurable business value that our proposition   will bring perhaps over any other competitor in  the marketplace so it said it so yeah we want to   compete but can we win it because if you can't  then get it off the pipeline don't worry about   it you know did put it to one side and work on  something that you know you can win and where   the money will be I said the final aspect was is  focusing primarily on do is it know do we want   to win it is it worth it and that might come down  to the revenue that it actually generates for the   business it might be down to profitability but  maybe even its strategic values you know there   are such things as lost leaders you might win a  piece of business making a loss with no revenue   and profit up front because it's worth winning the  client because of the long time or the lifetime   value of that client to you as an organizational  to you as a salesperson particular in the world   of cloud we talked a lot today about kind of land  and expand you know winning the business is the   first step but driving adoption and consumption  of our service to drive up those revenues is   where the long-term revenue might be so it's  things like that it's just out evaluating the   strategic value and even things like the risk to  your business with regards to pursuing or winning   a piece of business from a particular client  you know is there any risk associated with that   and I think I well I know factually for the fact  that when I work with people and we dig through   their opportunities and their pipeline of deals  that they have there that quite often if some of   these questions they can't answer well for you as  a salesperson if you can't answer all those areas   then there's a potential risk to you winning that  opportunity there are places there are cracks in   there that your competition could come in and  leverage to their advantage so think about all   those different components that make up those  sort of four key areas and think about do you   really understand the opportunity as it exists can  you compete and got have you got the potential to   potentially win it can you win it then against  any other competitor in your marketplace assume   you do want to go for it and secondly are you  hundred percent sure it's worth doing for your   business and you're not just chasing something  where your time could be better invested to win   something bigger or better or more strategically  more valuable to you or to your company so that's   a subject so today again as always a minute or  two over forgive me but hopefully you getting   great value from these short little video posts  that I do each week I'm Brian Cohen we're going   to leave it they have a great weekend great  reselling if you want to go to achieve success   code at UK particularly to the blog you'll find  loads more of these videos if this is the first   time you found me and in closing please do share  like and comment give me some feedback you know   have you been through Taz have you tried and  applied some of these techniques and give me   some feedback and let you know how you're getting  on Oh tell me ask me what you'd like to know more   about I'd love to help you be more successful in  selling that's what about only to achieve success   it's in business or in life that's what I'm here  for all the best take care I'm brung away bye-bye you