TArticles tagged with: new business pipeline

Now is the perfect time to do an opportunity pipeline review

Is your opportunity still coming…but the capture team is working from home?

As Industry increasingly invests in working virtually, this is the perfect time to perform an in-depth review of your opportunity pipeline. Companies use a variety of tools to manage their pipelines (SalesForce, Microsoft CRM, Excel, etc.). These tools facilitate developing “just in time” reports or snapshots of any part of the pipeline; you can showcase these portions of the pipeline in your virtual meetings and update them in real time. Before using one of these tools, it is important to prepare. Start by reviewing how your opportunity pursuits become part of your pipeline. Identifying in which “quadrant” of pursuit they fit is the first step. This helps the team understand the challenges that lie ahead in the pursuit: Once the quadrant is identified, the details of pipeline development and population can be addressed: Assess your capture status: Schedule meetings with your capture managers and market leadership to examine the capture … Continue reading Now is the perfect time to do an opportunity pipeline review

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Six tips for building your new business pipeline

Most companies really miss the mark when building their new business pipeline. Typically, the market research team dumps every conceivable deal they can find into the new business pipeline. One company that I reviewed even boasted that they had a new business pipeline with over 150 targets worth $8 billion. With a win probability of 5%, they thought they could bring in $400 million in new sales. Their new business pipeline was nothing more than a pipedream. Let’s get real and follow these 6 simple tips when building a new business pipeline. Stay close to your core business A fundamental truth in business development is that the better you understand the customer, the more likely you are to win. Always apply this principle when building your new business pipeline, and start by looking for new business opportunities with your current customers or with organizations that are close to your current customers. … Continue reading Six tips for building your new business pipeline

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