JKL Associates – Business & Talent Builders Blog!

September 29, 2011 – ISSN# 1545-2646

If you are a weekly reader you might recall that from time to time I touch base on the whole part of the business called “SALES.”

This week we revisit the Sales Funnel as a very important tool in managing the efforts to move an opportunity from inception to sale or as I like to call it – idea to revenue. It is kind of important to differentiate as I don’t know of too many vendors that accept ideas as payment or employees that deposit opportunities into their checking accounts. The systematic method of channeling work into revenue or profit is the basis of “for profit” businesses.

The sales funnel concepts has been around for years.  Just type it into your favorite search engine and you will get lots of choices of explanations and graphics.

The pictures are great for a visual on activity but more critical is the discipline to move opportunities through the funnel based on solid delivery of specific events and transactions with your prospect/customer.

Closed sales and the probability leading up to the signed contract are earned activities.  They just don’t happen by accident.  High performing sales organizations can track the success of sales and they know that when steps in the process are skipped over, it lowers the chance of closing the sale.

This week I suggest that you look at your sales process and map it into a sales funnel with specific tasks that must be done to move the opportunity from one phase to the next.  Associate probabilities with the completion of each set of tasks or phases so that a weighted value for the sale can be projected in your forecast.

Once your funnel is set up, track your business sales activity so that you have early indicators that your top end or suspect development when weak will impact your revenues some number of days, weeks, or months in the future depending on your overall sales cycle.

Don’t currently use sales tools like funnel or forecast? Give JKL Associates a call at (313) 527-7945 and let us help you design a sales system to help engage your sales team.

Graphic courtesy of Solutions 360 Software

Questions or comments – email us at partners@jklassociates.com or call our Office at (313) 527-7945-

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JKL Associates
18530 Mack Ave #242
Grosse Pointe Farms
MI 48236

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