Hey tech sellers. Nick and Paul back again. Today we briefly chat about this whole “managing the pipe” thing.
Right, and what's the sort of big problems you're finding?
One of the issues we are finding is that some companies get good at having disciplines on how they look at the sales pipe, and understandably what they do is spend time and energy at the closing end, around sales proposals and closing the deal, and that's important.
Yeah as that’s how you get the money.
Yeah, get the money and get over the line, but sometimes that causes lack of focus on the top part of the pipeline, which is where your leads and opportunities are. So, what could happen is you can be so focused on getting the deals over the line, you forget you need to be doing some work on the leads, to qualify them, understand opportunities and keep in touch with them.
This is so that when we do manage to get some of those closing deals over the line, we don't end up with this big “lull", and that we keep our whole pipe moving.
Which impacts cash flow and all of that.
Yep, because if we don’t promote, or qualify stuff at the top of the pipe enough, we're going to lag and that's a terrible thing, as you say, the cash flow stuff comes into play.
There’s lots of you out there that go through the peaks and troughs of the sales as we have briefly described, and as we mentioned last week, we can identify gaps and opportunities for you quickly.
A couple of hours with a good sales audit process will give you that picture. A good place to start, understanding where you are at right now.
So, if you aren’t already, “manage both ends of the pipe.”