So we talked about what a sales cycle is and the long and short of it. Kurt, What the heck is a pipeline? A prospect who is interested in what you are selling, but now is the not the right time for them to buy. Reasons may be money, time, apprehensive, sometimes who really knows to tell you the truth. This is your pipeline and it is very important to keep it full no matter what you are selling. I don’t care if you are selling an inexpensive widget or a high ticket item that costs thousands of dollars. Matter of fact if all you sell are high ticket items you need more prospects in your pipeline as the sales cycle is longer (remember what a sales cycle is?).
I am going to tackle high ticket items here for a second. If you are selling a product that costs $100,000 you need at least 10 prospects in your pipeline in any given month for a chance to close 1 in that month. The same can be said for a product that is anywhere from $50,000 to $90,000. Got it? So, if you are in the niche of selling high priced products, programs, whatever it’s going to take time and the volume you sell will not be that much. But if you get 10% of a $100,000 dollar sale that’s $10,000 in your pocket. I’ll take that every day of the week and twice on Sunday! Would you? Sell 5 and that’s $50,000, 10 $100,000 get the point? My advice to you sell high ticket items, it’s a no-brainer!