Your Pipeline Equals Your Profits (The ‘P’ Series)

Another double ‘P’ here, Pipeline + Profits. Let’s get into it.

A sales pipeline is simple. It’s a list or chart or different color Post-it’s if you like, of your prospective clients and where they are in the sales process.

A sample entry might look like this:

Jane Doe – met at networking mixer – hot lead – sent email about strategy call – follow up on Monday.

Entering, analyzing and using this information with every single lead you have is how you make a profit. Staying on top of your prospects and making sure your pipeline is not only filled, but flowing, is the answer.

A sales pipeline allows you to accurately forecast your next month, quarter or even year.

Using a CRM system, along with automation, is the best way to keep your pipeline flowing. This is a luxury you should appreciate, back in my early years in sales and running a business I would use index cards and sort them by month so I knew when to be working my pipeline.
If every time you meet someone you have to craft a new introductory email, you are wasting time and energy. Have an email ready to go in your CRM system for initial meetings. You can always pop in to add a little personalization, but automating the process will help you actually follow through.

Also make sure your system is setup to remind you when and how to follow-up. Day 1 an email, Day 3 a phone call, Day 5 another phone call, etc.

I’ve grown my businesses to 6 figures + by consistently filling and working my pipeline. I always know who I need to contact and what I need to say. A closed deal happens because a relationship was formed, a connection was made and follow-up was done properly.

If you don’t have a CRM system in place, research what is out there and what works for you or your organization.

There are systems for a solo entrepreneur to use, all the way up to extremely robust applications for a huge corporation. Some systems even allow you to connect social media correspondence, along with email and phone records, so every point of contact you have with a prospect is entered and catalogued.

If you want to talk about how to start filling your pipeline and how to work it to get to the profit, let’s have a conversation. Email me at support@slatersuccesscoaching.com and let me know a good time to chat.

I don’t go to events to find clients…I go to do something else instead

This past weekend, I had a group of 14 at the house. I always do a ton of entertaining in the summer, I don’t go to events to find clients_Ivy Slater2usually my kid’s friends make up a lot of the guest list, and I love to cook for them.

I’m always going to 3 or 5 different specialty stores to find the specific ingredients I want.

I look for fresh, interesting and unique.

When the weekend was over and I was going through the receipts from the many stops I made, I realized that how I shop for ingredients is the same way I network for my business and add potential relationships and clients to my pipeline.  

I look for events that will be filled with like-minded people. I want to go somewhere and connect with theI don’t go to events to find clients_Ivy Slater other guests.

I don’t go to find clients. I go to build relationships.

Those relationships turn into connections. Those connections turn into sales, referrals, friendships, you name it.

I attend at least one networking event per week and they are all different and unique (like my ingredients).

Some are geared towards women, others for business owners in a certain age range, others for coaches.

Just like I pick out a new cheese for a pasta dish, I pick out a new event to spice up my business.

I also spice it up by holding my own events. Even SSC Live, that is held annually, has a different theme every single year. I want people to learn as much as they can when attending one of my events, just as I expect to learn a lot when I’m the guest.

Along with learning comes those vital connections and building a pipeline. If you don’t have a pipeline in your business, it’s something you need to get into action immediately.

I fill my fridge with new ingredients just like I fill my pipeline with new people. Keeping everything fresh.

I add to that pipeline by consistently attending various networking events and building relationships with people from all levels of business.

Share with me how you are building your pipeline this Summer. If you’re struggling, STOP and reach out to support@slatersuccesscoaching.com to talk pipeline strategies and plans.