\n\t\t Entrepreneur \t<\/p>\n
Rarely do I meet a business owner who isn\u2019t looking to increase sales. There\u2019s never quite enough work, right? The backlog only stretches so far \u2014 and beyond that lies the abyss.<\/p>\n
The truth is, there\u2019s no magic bullet for growing revenue. But there is one report you should be reviewing every single week that will dramatically help: the pipeline report. Do you have one? You should.<\/p>\n
Some of my clients track their pipeline in a simple spreadsheet, and that\u2019s fine. But my best clients rely heavily on their CRM systems. Most CRMs come with a pipeline report built in, and the smart companies take the time to customize it to fit their business.<\/p>\n
Successful owners and managers live and die by this report because it tells them their future. It identifies potential revenue shortfalls before they happen, highlights top performers and gives them the visibility to plan their marketing, spending, hiring and investment decisions with confidence.<\/p>\n
Related: Want to Maximize the Sale Price of Your Business? Start with These 5 Value Drivers<\/b><\/p>\nWhat the report reveals<\/h2>\n
A strong pipeline report shows all potential revenue opportunities in play \u2014 every quote, bid, proposal, and estimate. It also includes prospects who haven\u2019t yet received a quote but are moving in that direction. In other words, it\u2019s a forward-looking snapshot of your business. It\u2019s your revenue forecast in motion.<\/p>\n
Start with the basics. List every active opportunity with the company name, contact, description, estimated value, date created, expected close date and the salesperson or manager responsible for it. Don\u2019t limit this to new prospects \u2014 include existing customers if they\u2019re likely to buy more.<\/p>\n
Next, assign a probability to each opportunity. Keep it simple. In my company, we give unquoted opportunities a 10% chance of closing. Once a quote goes out, that jumps to 50%. If it\u2019s been sitting for more than 30 days with no movement, we lower it to 25% unless there\u2019s a good reason not to. If it\u2019s looking promising, we move it up to 75%. And once it\u2019s closed but not yet invoiced, we assign it 95% . We review and adjust these numbers every week.<\/p>\n
From there, calculate the weighted value of each opportunity by multiplying its value by its probability. When you total those figures, you\u2019ll have a clear forecast of your likely sales over the next 30 to 90 days. This method works, and it works consistently.<\/p>\n
Each opportunity should also include recent activities \u2014 calls, emails, meetings \u2014 and the next planned follow-up. Managers need to know who last communicated with a prospect and what comes next. While a spreadsheet can handle this manually, a CRM integrated with your email and calendar makes the process automatic.<\/p>\n
Finally, organize the report by the age of the opportunity and by the person accountable. This allows managers to zero in on older or stalled deals and decide what to do \u2014 apply pressure, re-engage the prospect or remove the opportunity altogether.<\/p>\n
When an opportunity is lost, remove it from the active report but keep it in your database. Always record a reason \u2014 price, competitor, timing, or any other factor. Review these reasons quarterly. Patterns will emerge. You may find that a specific competitor is winning too often, or that pricing or communication needs improvement.<\/p>\n
This analysis also helps you measure performance. Track each salesperson\u2019s \u201cbatting average\u201d \u2014 their closed deals compared to total opportunities \u2014 and you\u2019ll quickly see who\u2019s performing best and why. You can do the same for wins to identify what\u2019s working and replicate it across the team.<\/p>\n
The power of the pipeline report is in its discipline. It keeps management aware of every opportunity, helps salespeople focus on the best ones, and prevents leads from slipping through the cracks. It shows where the business is heading, who\u2019s driving it, and what adjustments need to be made now \u2014 not after the quarter has ended.<\/p>\n
Related: Work Smarter and Boost Sales with These 5 Peak Season Tips<\/b><\/p>\nMake it a habit<\/h2>\n
If your company already uses a CRM system, make the pipeline report your top priority. Eliminate redundant spreadsheets and require all opportunities to be entered and updated regularly. Many businesses complain that their teams don\u2019t fully adopt the CRM. Weekly pipeline reviews fix that problem fast.<\/p>\n
My company has implemented hundreds of CRM systems across industries. The most successful owners and managers \u2014 the ones who consistently hit their sales goals \u2014 are those who commit to their pipeline report. They review it weekly, discuss it with their teams and use it to drive decisions.<\/p>\n
Do the same, and you will increase your sales.<\/p>\n<\/p><\/div>\n