Bulding a Profitable Pipeline Takes Work

The strength of any great sales professional is the size, value and credibility of their sales pipeline. The sales pipeline is defined as an identified prospect or company to whom you have described the features and benefits of your services.' At some point, successful prospects in your pipeline will express an interest in exploring the possibility of a purchase. The features of your services must increase the worth of the prospect's business life or personal being, or solve a potential company problem in the future.

A good sales professional views a profitable pipeline as a living, breathing and growing object. A profitable pipeline starts out small and immature, but with the correct nutriment (food), stimulation (education) and exercise (implementation), it will begin to feed you at its conventional stage.' Nutriment for a pipeline is life, food and lifeblood. Too much or not enough nutriment can have detrimental effects.

A profitable pipeline focuses on quality rather than quantity. Just as a great interview is done after the book has been read, a great pipeline comes after a complete understanding of the subject matter and discovery of all the finer points.' For example, a few years ago, I pursued a major oil company. 'At first blush, this seems like a standard cold-call-need-analysis-present-and-close-type sale. However, the entire process turned out to be a 29-month sales cycle involving multiple sets of documents 'and very long 3 a.m. telephone calls with representative heads of four neighboring countries.' 'I received the contract.

Feeding the prospect may not be seamless. You must be willing to go the distance, put in time and make great sacrifices.

Stimulation for a sales pipeline is the initial education of a prospect. The prospect is informed of the rewards they will receive when doing business with you. They will also receive an overview of their needs, applications, time frames and demands. The marriage of these and others will happen at a later date. What does the prospect need to accomplish their goals, and who sets the goals? You must understand the greater impact of the prospect's goods and services to the company in the market place.

Exercise for a pipeline is implementing ' putting forth effort to roll out a definite plan or procedure. Things like receiving daily updates, changing awareness and creating clear correspondence happen at this stage.' Building your pipeline can be compared to constructing a commercial skyscraper. If the pipeline's foundation is strong, you are able to build a taller skyscraper. To construct an industrial or commercial building takes a considerable investment of time, skill and money. Before investing time and money into constructing a building, it is critical that the pros and cons are carefully weighed.

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Guest article by'Frank Mims V; Mims Morning Meeting

Please don't let the headline mislead you, I am not sharing information on the construction of a profitable oil pipeline.

No, I'm talking about salespeople and the sales pipelines they must have in order to get a good night's sleep.

The strength of any great sales professional is the size, value and credibility of their sales pipeline. The sales pipeline is defined as an identified prospect or company to whom you have described the features and benefits of your services.' At some point, successful prospects in your pipeline will express an interest in exploring the possibility of a purchase. The features of your services must increase the worth of the prospect's business life or personal being, or solve a potential company problem in the future.

A good sales professional views a profitable pipeline as a living, breathing and growing object. A profitable pipeline starts out small and immature, but with the correct nutriment (food), stimulation (education) and exercise (implementation), it will begin to feed you at its conventional stage.' Nutriment for a pipeline is life, food and lifeblood. Too much or not enough nutriment can have detrimental effects.

A profitable pipeline focuses on quality rather than quantity. Just as a great interview is done after the book has been read, a great pipeline comes after a complete understanding of the subject matter and discovery of all the finer points.' For example, a few years ago, I pursued a major oil company. 'At first blush, this seems like a standard cold-call-need-analysis-present-and-close-type sale. However, the entire process turned out to be a 29-month sales cycle involving multiple sets of documents 'and very long 3 a.m. telephone calls with representative heads of four neighboring countries.' 'I received the contract.

Feeding the prospect may not be seamless. You must be willing to go the distance, put in time and make great sacrifices.

Stimulation for a sales pipeline is the initial education of a prospect. The prospect is informed of the rewards they will receive when doing business with you. They will also receive an overview of their needs, applications, time frames and demands. The marriage of these and others will happen at a later date. What does the prospect need to accomplish their goals, and who sets the goals? You must understand the greater impact of the prospect's goods and services to the company in the market place.

Exercise for a pipeline is implementing ' putting forth effort to roll out a definite plan or procedure. Things like receiving daily updates, changing awareness and creating clear correspondence happen at this stage.' Building your pipeline can be compared to constructing a commercial skyscraper. If the pipeline's foundation is strong, you are able to build a taller skyscraper. To construct an industrial or commercial building takes a considerable investment of time, skill and money. Before investing time and money into constructing a building, it is critical that the pros and cons are carefully weighed.

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