1/2/2024-Pipeline Mgmt: Q1 Rev Tracking

You have just as much responsibility to be credible inside your org as you do outside your org. There are three specific things you need to do if you want to be a better revenue prognosticator.

Happy Sales New Year – welcome back!

Although your ’24 selling year started months ago, today’s first-working-day-of-2024 is an important milestone in your dash toward your annual quota!

Excluding vacations and holidays, there are 65 selling days in each quarter. The sooner you get into it today, the better you’ll feel about hitting your number and performing at a high level this year.

Start strong by analyzing your Q1 pipe so you can quit work today, proclaiming, "Yeah, I got off to a crazy good start today." It’ll help you prioritize the week’s tasks and jump-start your productivity.

Go top off your mug, return to your desk with your favorite brew, and settle in for a CRM session.

Today is Q1 Rev Day: pick through that CRM data with a fine-tooth comb!

Examine your open opps and analyze the probabilities of them closing and affecting Q1 revenue. Assess each opportunity through a binary lens: "Are they…or are they NOT going to affect Q1 revenue?"

Let that question guide your selling actions this week; the goal is to deliver an accurate Q1 number to your manager by Friday.

On average, sellers are off with their revenue estimations between 20 – 40% each quarter. The math makes the reality look silly: if you tell your manager today that your pipeline says you’ll do $1,000,000 in Q1, the number will be closer to $600k.

Some might suggest this is how business works…it’s just hard to estimate revenue. And while that’s partly true, you should take it personally that the variance in estimates versus reality is as broad as it is. (What is your variance each quarter?)

There are three specific things you need to do if you want to be a better revenue prognosticator. And you should care because your reputation is based on your accurate promise of future revenue.

1. Ruthlessly qualify open opportunities on each interaction with a buyer. (Throughout the quarter!)
2. Proactively surface objections on each buyer interaction and probe to find out how much the objection hinders the opp.
3. Directly push your prospects for the truth about the when? You must ask questions like, When are you a buyer? (If not now, when?)

You have just as much responsibility to be credible inside your org as you do outside your org. Figure out how to deliver accurate quarterly projections.

Your assignment today is simple: project 90 days of revenue.

It’d be easier if you had time travel abilities and could transport yourself to March 31st, but unless you’re Scarlett Johanson in the movie Lucy, that’s obviously impossible.

After watching this wild, beautiful, and gripping 3-minute clip featuring Lucy’s adventure, you may not want her powers. (Heavy stuff!)

Existentialism theories aside, come back to January 2nd and do your best to answer this all-important reality-based question: What number am I going to hit in Q1?