Blog posts from April, 2017

Managing the Probability of Your Pipeline

April 06, 2017 by Tim Nevin

Vetting your pipeline is a game of chance; it’s taking the time and energy to figure out which leads have a higher probability of turning into sales than others. So how do you calculate this probability, and thus confidently forecast your monthly, quarterly, and annual sales? Well, you have to start by understanding all of the variables that go into developing your pipeline. You have an existing customer base with the potential to place new orders, and you have an existing pipeline of customers in the current markets that you serve, but there are countless potential customers you might not even know about yet, and even if you do know of them, you might not have the necessary information to reach out to them in a meaningful way that will earn their trust and ultimately their business. Outside of the number of prospect customers, you also have to consider the size, variation, and time commitment of each potential order. Now, although this may seem daunting at a high level, there are solutions. Depending on the size of your company, the first step is to prioritize the time you spend on companies that either have the highest likelihood of closing a

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