Track to Scale: Grow Your Business By Developing Federal Sales Pipeline
In this post, you learn about the sales pipelineÂ
- Why do You Need a Sales Pipeline?
- Create a Basic Sales Pipeline to Start with
Why do you need a Sales Pipeline?
You need a sales pipeline to capture all opportunities. You have created your target buyers list so we can track each engagement.  A system needs to be in place to track all opportunities. You are identifying new prospects and sending follow-up emails. We recommend an excel spreadsheet because when you are just starting, you need to know what software to use. Â
The Dashboard is a snapshot to enable the owners to make decisions and provide insights. Important metrics to include in your pipeline include the following:
- Track Opportunities that are in the pipeline
- How many opportunities have we won and lost?
Sales Pipeline Stages
Keep it easy and simple to manage the moving of the opportunities through the sales pipeline. The Business-to-Government (B2G) sector has a long sales cycle. Use these sales pipeline stages include:
1. Prospects.
Potential customers discover that your business exists through marketing campaigns, ads, blog posts, public relations, and other promotional activities. Often, you deliver your message to potential buyers who fit the profile of your existing client base and ideal customer.
2. Need Analysis.
Pre-qualify; it would help if you had to understand the agency/prime contractors.
3. Relationship Building.
Attend events, and offer a white paper so the prospect can learn more about your products and services.
4. Qualified.
Request for a capability brief
5. Submit a Proposal.
Explain to the prospect how your company can help address potential customers’ needs. Demonstrate how the proposed prices are competitive.
6. Closed.
Did we win or lose the opportunity?
7. Debrief.
Some requirements do not require a debrief.
Watch Our Short yet Detailed Training Videos
This video we’ve made just for small businesses covers more about the importance of developing a Federal Sales Pipeline to track opportunities.Â
We break down, even more, each step of the way to help you feel confident while getting ready to do business!
Conclusion
It is vital to have a sales pipeline for your small business. Now that you have an idea of why you need to have a sale pipeline. Get started today! I hope this helps your small business!
Do you still have any questions about growing your small business? Let us know in the comments section. We are happy to answer your queries!
Furthermore, to start your small business and to understand more about working with the Government as a Subcontractor, here are your FREE quick start guides to help you reach your business goals! Get yours now!
