Anyone can consume
a sales team's time
with no cost to themselves.

Qualifying Sales Opportunities

Nothing is more wasteful than someone who ties up sales people and does not buy. A lot of salespeople want to put the maximum number of leads into the sales process that they can. They are thinking that it is just a numbers game, with no skill involved. This is a bad combination that can squander an organizations resources if not held in check.

The problem with that approach is that there is a finite amount of resource available to pursue opportunities.

A good sales person will filter out all the unlikely prospects and focus on the real opportunities.

The methods for qualifying potential customers vary by industry and deal size. For big ticket sales, try to get the following information:

  • B budget
  • A authority
  • N need
  • T timeline

If a prospect does not have sufficient budget, authority or need, or if the deal is way off in the future, it is probably not worth actively putting substantial effort into it. It may be that you want to cultivate relationships at this client slowly, but not incur a lot of expense doing elaborate demonstrations or executive visits. Instead, find something of value, like free consulting, to give them. This will allow you to invest work in the opportunities that have the highest probability of being won in the near term.

As a result, your win ratio will go up, and your cost of sales will go down - a double benefit.

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