PROFITABLE SALES PIPELINE BUILDING

The strength of any great sales professional is in the size, value,

and credibility of the pipeline. A pipeline is defined as an

identified prospect company to which you have described the

features of your products or services. These features will

enhance the value of the prospect’s business or solve a potential

company problem in the future. A good sales professional looks

at a pipeline as a living, breathing, and growing object. It will

start out small and continue to grow when it is fed the proper

nourishment, and will begin to feed you only at its mature stage. Building this pipeline can also be compared to constructing a commercial skyscraper; the deeper and stronger the foundation, the taller the building. The construction of an industrial or commercial building represents considerable investment in terms of both time and skill. It is critical that the pros and cons be carefully weighed before making the decision to attach a prospect to your list. The tools, skills, and a great deal of time go into constructing a profitable pipeline. Tools and skills include networking, fact-finding, concentrative-listening, information verification, and payback.  Activity, as it relates to building a pipeline, is key to success. The higher the level of a new contact, location of a new business, andrediscovering old opportunities, the greater will be the size, value, and credibility of the pipeline.

Start in the center and work your way out. Find peopleyou know, companies you know, and businesses inclose proximityto your place of business, home, and

school.

Every business is a suspect until eliminated on the

basis of a prospect’s needs, buying timing, and

opportunity.

Develop a ranking system for the prospects in your

pipeline. (Rank the prospects in your pipeline

according to when they are schedule to close/buy. A

three- or four-tier ranking works well.)

Feed your pipeline daily, and it will feed you monthly.

(Each time you eat, feed your pipeline one suspect. In

one week either convert to a pipeline prospect or

eliminate.)

Every great pipeline will have some rabbits, deer, and

elephants. (The object of the game is to have

something closing at all times — small prospects you

can close quickly, medium prospects that may require

more time, and large prospects that could require more

time and have a greater dollar value. Your industry

will dictate the number of accounts in each.)

The easy sell is the one that your product and services

were design to solve. The solution that integrates

seamlessly and provide the greatest value to the prospect.

Avoid the six deadly sins of building a profitablepipeline.Pride is excessive belief in one’s own abilities that interfereswith the individual. There is gold in some of the strangestenvironments. Look under every rock. Don’t let your pridestop you from entering those golden doors.

Envy is a feeling of discontent or covetousness with regard toanother’s advantages, success, and possessions.Gluttony is excessive eating — to over consume prospects in one’s control. Every company does not belong to you.Only eat what you have placed on your plate, not everythingon the buffet table.

Lust is to crave, hunger for, covet, or yearn for power. Resist the need to over control the prospect or your information.Let the information flow to you. (When the student isready, the teacher will appear.)

Anger is manifested in the individual who spurns loveand opts instead for fury. It is also known as wrath.Anger blocks one’s creativity, reasoning, and fact-findingabilities. All are in need of building a profitable pipeline.

Sloth is the avoidance of physical, mental or spiritualwork.Greed is good. Control it; don’t let it control you.

~ by mimsmorningmeeting on April 5, 2007.