It’s The Process, Stupid! - Adaptive Business Services

I believe it was Bill Clinton who famously coined the phrase … “It’s the economy, stupid!” and he then rode those words directly into the White House. It would be nice to see that focus again right about now.

The same can be said for the sales process. Proving that you have a proven process, one that delivers the highest levels of consistent results, why would you not wish to follow that? To replicate it? I can think of no good reasons.

Let’s start by defining a process and then we can explore how this can, and should, be implemented in sales. Simply put …

“A process defines the steps to be taken, in order, from the start to the finish of any task”

Well, now … that was easy. Next let’s look at a simple sales process and it will be divided into two stages … a lead qualification workflow and a deal pipeline. Leads will be moved from stage to stage through the workflow and deals will do the same through their pipeline.

Lead qualification workflow

When someone inquires about your product or service, one of the first things that you will need to determine is if there will be a match between their needs and your offering. One popular simple system for this process includes the acronym BANT.

Budget – Do they have the necessary funds to invest in your services?

Authority – Is who you are dealing with, the person who can approve this investment?

Need – Do your offerings match up with their needs?

Timing – All things being positive, are they in a position to make a decision now?

Let’s build a very simple lead qualification process (workflow) around BANT …

Stage #1 – The lead is received and assigned to a salesperson.

Stage #2 – The sales person researches for company and the key contact(s).

Stage #3 – Initial outreach to schedule a meeting.

Stage #4 – The elements of BANT are satisfied.

Stage #5 – This lead exits the workflow in one of two ways: Successful – The lead is turned into a deal or opportunity which is then placed in a sales pipeline and it is removed from the qualification work flow or … Unsuccessful – it leaves the workflow (not a match).

Sales pipeline

Active deals, or opportunities, reside in a sales pipeline. The pipeline is very similar to the lead qualification workflow in that it represents a process, but it differs in the following three ways …

A deal has a dollar value.
A deal has a projected closing date.
A deal has a percentage probability of closing successfully.

These three elements are critical for both a healthy pipeline as well as for generating sales reports and forecasts.

Now, let’s build a very simple sales pipeline …

Stage #1 – Needs discovery

Stage #2 – Sent to estimating

Stage #3 – Proposal presented

Stage #4 – Revisions

Stage #5 – Verbal acceptance

Stage #6 – The deal is either won, lost, or it goes away

A few important notes regarding pipelines. Variables such as deal amount and predicted closing dates should be monitored and modified as needed.

Watch the pipeline, and this also holds true for workflows, for deals that are not moving through the stages. The question is why? Is the deal stuck? Have the variables changed? Is this even a valid deal? Keep your eye on the ball!

A properly maintained pipeline will ensure that there are enough healthy deals in the hopper to ensure your ability to meet or exceed your goals. For example, if you need to generate $100,000 in new business per month, and your closing ratio is 60%, you will need to have $166,000 in good deals that are expected to close this month.

The beauty of having a proven process is that, if followed consistently, it should deliver consistent results. Certainly, it will maximize the probability of doing so. Also please note that having fewer stages in either process will be much easier to manage. My suggestion would be no fewer than five and no more than ten for each.

For the experienced salesperson, doing this will undoubtedly increase their revenues. For the new sales hire, you are providing them not only with guidelines, but with a blueprint, a map, to ensure their success.

Are you thinking about a CRM? If you would like to explore whether or not Nimble CRM might be right for you, please book a free 30-minute Zoom consultation with me by going to www.calendly.com/craigmjamieson

To learn more about our Nimble training and implementation services, please visit www.adaptive-business.com/nimble-scrm-training-support. Thank you!

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Craig M. Jamieson

Managing Member at Adaptive Business Services

Craig M. Jamieson is a lifelong B2B salesperson, manager, owner, and a networking enthusiast. Adaptive Business Services provides solutions related to the sales professional. We are a Nimble CRM Solution Partner. Craig also conducts training and workshops primarily in social selling and communication skills. Craig is also the author of "The Small Business' Guide to Social CRM", now available on Amazon!