Closed a big deal? Fantastic! Now it's time to roll up your sleeves...
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I was spending a lot of time with my clients this year helping them to build pipeline. And how do we accelerate pipeline development in order to have good in-year revenue. And there's a lot of reasons for that. And I think it's very smart.
You know, one of the things that people forget about is when you close a piece of business. And I just got an email from a client who had two sellers close nice chunks of business this year. pieces of business. That's great.
But unfortunately, that also means that you're probably going to have to add three more prospects in the pipeline, because if you have a closing ratio of 32% or so, 33% that one piece of business that you closed means that probably two in the pipeline are not going to close. And so we need to backfill the pipeline. In fact, you could argue that for every sale you have, you've closed, you have to add 3 or 5 pieces of business or prospects every single time. Yes, your pipeline might grow on the large side, which isn't a bad thing because the more you have in your pipeline, the more likely you are to hit your goals.
And so, yes, celebrate the win. By all means, celebrate the win. Take a look at your new targets and make sure that you're on track. And then go to work at finding new prospects to replace the one you just won.
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