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Forecasting & Opportunity Management

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Your ability to forecast is the cornerstone to success in sales. What better manner of driving yourself can you have than to see the future before it happens? A weak forecast is what motivates most sales people and teams to drive harder. Is it not amazing how sales teams tend to “slow down” when the order books are full, but when things look tight in the future they then start to work harder.

My personal philosophy of sales teams is that each sales team must have a visible three month forecast These forecasts are shared with team members and the whole teams performance, highs and lows can be viewed, This is the only real way I know of driving individuals and sales teams.

Rolling three months forecast can either make you or break you.
Three months is about the time it takes for an order to written, manufactured, processed and paid for.

So creating three-month forecasts should be a monthly task of the sales team.
Lower than normal forecast sales in three months time needs to be combated now …not in three months time.

In addition, you should be able to list your opportunities by probability values and month of close, and be able to put a “net worth “ on you and your opportunities,

When I work with sales teams, I find that forecast become very accurate after a three-month “bedding in period”. We need to become realists and spend 80% of our time on the opportunities that will yield us 80% of our revenue. Rather than the reverse situation of what normally happens being spending 80% of our time on the clients that yield us 20% of our revenue.

Forecast and Opportunity Management

  • Put a forecasting system in place
  • Train sales team members to predict sales
  • Review forecasts each month and check accuracy
  • Encourage a team of sales team members that are always aware of opportunities and when they are due to be secured

In Closing…
If you implement the above ideas you will be on the path to sales success – these are tried and proven methods of becoming more motivated and more successful in sales.

Here at Synergy for Success we build “Invincible and Highly Profitable Sales-Teams and we do this with our interactive seminars, workshops and Selling Strategies Coaching Systems.

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