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To Much Business… No income… No time…

Hard to believe but the title to this column happens all too frequently. I find this especially true in the service and commission sales business. There is a saying that everyone is a potential client, whether to purchase from you or to refer someone to you. If you accept this as a “working premiss” and you devote equal time to everyone, that nothing will get done.

The following is are a few suggested categories that you can place your “prospects” in as they come into the pipeline.

  • Red Hot: This category identifies someone who is interested in your product or service and is financially qualified to do business with you. To make this category, we add one more item: needs your product/service within a reasonably short period of time.
  • Pink Hot: This prospect is interested but cannot make a decision now, or is currently short of funds to purchase from you at this time. 
  • Pink Hot Conditional: This prospect  is interested but the purchase time or funds to purchase with are “way out” in the future.
  • Information Lead: This person, usually new to you, tells you to send them information and they will call.
  • Presented and rejected: This category is made up of prospect that you have had several conversations with and have not made a sale.
  • Throw Away: There are always some people that you just don’t feel good about. Perhaps they were rude or they question your ability or ?????

These categories represent the pipeline that grows your business. Everyone you meet should be qualified by you and then placed in one of these six categories. The should be worked in the order that they are listed. I recommend to my clients that they ignore the bottom two on the list and spend the time looking for number one. There are many ways to communicate with numbers 2, 3 and 4; that is why we have e-newsletters and a phone. It is important that these 3 groups be put on a contact system that doesn’t consume much of your time.

Learning to let go of the last two groups may be difficult, but unless you do, your limiting your potential growth.

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Besides the noble art of getting things done, there is the noble art of leaving things undone.  The wisdom of life consists in the elimination of nonessentials.

Lin Yutang

Have a great day!

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