From the course: Sales Pipeline Management
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Sales forecast
From the course: Sales Pipeline Management
Sales forecast
- Forecasting our revenue projections for sales opportunities is one of those responsibilities that salespeople have always found to be burdensome at best. It triggers emotions from fear of being wrong to frustration that we feel like we're wasting time being asked to update our numbers much too often. There's a story from early in my career that I think illustrates some of the issues we have faced with sales forecasting. I was really excited with a potential order that would've been one of the largest I'd ever gotten. It generated a lot of interest some other departments and management too, when I communicated the projected dollar volume along with my optimism for closing it. When I got the order, I was so excited. However, I sensed some disappointment from others because due to a budget cut, the buyer had to reduce the order by 10%. It was still a major order but smaller than I had projected. When I asked some peers about the diminished enthusiasm, I was pulled aside by a seasoned…
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