Streamline your sales pipeline for building services

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every day i speak to entrepreneurs sales leaders and business owners who want to grow their sales revenues probably while you're here listening to this video because you want to grow your sales revenue and there are some exciting parts to this and different things excite different entrepreneurs or sales leaders based on their own experience and their own strengths some parts of sales are very much related to messaging and the psychology and influence and communication but there are other parts of sales that are rooted in analytics and in science and one of those is knowing how to build and maintain a healthy pipeline so what i observe here is that either entrepreneurs that are strong in terms of analytical thinking may potentially gravitate to sitting behind the tool and consuming themselves with managing the tool uh often at the cost of the sales activity but far more frequently what i find is that people are busy busy busy seeing customers opening opportunities closing some more effectively than others and very often deals are falling right through gaps within the sales process so any entrepreneur and any business that wants to grow these sales in any sustainable way and in a way that allows them to reliably predict their cash flow i mean this is one of the core functions of your pipeline is to help you forecast your revenue you need to know how to build and maintain your pipeline so here are my top tips on that the first is make sure that no matter what's going on your business you keep your outbound activity up because if you get consumed with delivering against the work that's coming in very soon you're going to find yourself with an anemic pipeline you just don't have enough opportunities coming through the second is to be very clear on your sales stages what does your sales process look like and what are those name sales stages in your process can you ensure that every piece of data information that goes into your pipeline is an accurate reflection of where the customer is in their sales stage and not where we want them to be your pipeline should be a reflection of the truth not a vision board okay so when you look at your pipeline you want something that tells you you've got x amount of opportunities and it's an excellent stage and so my final tips are to ensure that you have a balance across the stages in your pipeline you don't want anybody sitting at the beginning or everybody's sitting at the end and also you want to balance across and transaction amounts now i'm not saying a balance across products because it depends on what you sell and you'll sell strategy you might be focusing on one product set but you definitely want to have a good balance of deals finally you want at least three times the coverage that you need on your pipeline and in tough times i would say you want to aim for 5x five times the coverage of what you need and then you have margin and you're able to enjoy the process of building and maintaining a healthy pipeline [Music] you