A sales pipeline is simply a way to see where each prospect stands. Built well, it answers one question at a glance: "How many contracts are likely to be signed this month?"
Five steps are enough
- New contact: the person has shown interest.
- Qualified: you've confirmed the need, the budget and the timeline.
- Quote sent: a priced proposal is in their hands.
- Negotiation: you're discussing the details.
- Won or lost: the decision has been made.
The golden rules
- Each prospect is in only one step at a time.
- Each prospect has a dated next action.
- When a sale is lost, write down why.
Reading your pipeline
If many prospects get stuck at "quote sent", your follow-up or your pricing may be the problem. If they never get past "qualified", your lead sources may not be the right ones.
Adapting it to your trade
A building inspector won't have the same steps as a manufacturer. What matters is that the steps reflect your reality and that the whole team understands them.
