Common Pipeline Challenges - 216

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. 

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