Pipeline! Keeping Score
(For those are you interested in high-tech applications, this entire article is being transcribed via voice-recognition just to streamline operations and to see if I could really do it.)
Our last article would have been the capstone on this series, had it not been for the fact that pipelines are useless until you have some method of tracking whether the pipeline is working or not. To put this another way, "How do you know if your winning?" Score-keeping is the only effective way that I've seen which works best.
The following is a list of items you can use to track results in your pipeline to assure your pipeline is working at optimum. The list is presented as a series of questions concerning each stage of the pipeline and some transitional stage questions you can throw in between stages. Of course, depending on your specific business these questions may or may not apply to your pipeline.
Hint: First of all, know your pipeline really well! Then ask yourself "quantity" questions at each Stage and answer them honestly. This will give you some form of an accounting which lets you know how you're doing at each stage. The more specific the questions regarding quantity, and in some cases quality, the clearer the picture will be.It can make a difference in your bottom line.
- Stage 1 _- How many suspect names were found today?
- Stage 1 -- How many contact attempts were made today?
- Stage 2 -- How many of these contact attempts were successful?
- Stage 2 -- How many prospects were actually located through these contact attempts?
- Stage 2 -- How many of these new contact attempts identified individuals who were not
- All Stages -- How many referrals were asked for today?
- All Stages -- How many referrals were actually obtained today?
- Stage 2/5 -- How many future appointments were set today?
- Stage 2/5 -- How many appointments were held today?
- All Stages -- How many follow-up calls were made today?
- All Stages -- How many follow-up calls made today were successful?
- Stage 3 -- How many agreements were signed today?
- Stage 4/5 -- How many customer contact attempts were made today?
- Stage 4/5 -- How many successful customer contacts were made today?
- Stage 4 -- What was the total gross revenues generated today?
- Stage 4 -- What was the total net revenues generated today?
Creating an Effective/Efficient Tracking System: Ask yourself how well your process keeps track of itself. How well, too, are you identifying what number results should be expected and obtained at each stage. Continually ask yourself if the numbers you're seeing at each stage tell you if the process is working well and where, based on the numbers, must changes be made to bring results back into line.
And of course, on a scale of one to ten, how would you rate your system at keeping track at each stage? What should be added to make each stage a perfect Ten if it's not? A good tracking system assures you that your system is operating at peak and lets you know "loudly" when it's not.
This is the last (planned) article in a series of articles on the simple business pipeline. We hope you've enjoyed them. Again, as stated in the last article: Keeping a score of what's going thru the pipeline for your specific industry is as important as establishing the pipeline. Knowing the numbers that have to be generated at each stage empowers you to adjust your activities to prevent logjams and dry-ups. A smooth flow is what makes a pipeline a delight to have. Know your numbers! It makes a big difference to all involved.
I hope you've enjoyed this review. Please take a moment to reflect on how these articles have assisted your process. What specifically could we focus on in future articles that would make a big difference for your process? Let us know. See you next week!
[Interested in receiving a graphic of the pipeline? Send a request to the following E-mail address Pipeline Request.
Have a BODACIOUS week!
Coach John S. Nagy is CEO and Lead Business Coach for Coaching for Success. Inc., a Business Coaching Service specifically designed for top level decision makers dedicated to peak performance in all facets of their activities. He's hired to focus them continuously in activities that bring higher returns on their resource use. His programs are for the seriously committed. This means having his clients work "ON" their businesses, not just "IN" it. He's a published author and a multi-degree professional with a nationwide client base. Coach Nagy can be reached through his E-mail address at his website at http://www.coach.net and by calling 813-949-0718.
Copyright © 1999 John S. Nagy