[Music]
Very, very welcome.
Let's talk about Prospection again.
And today I come with surprises.
I come with good news.
Because from this episode,
I commit to each and every one of you,
dear audience,
that we're going to have a weekly frequency.
And it's all planned.
It's something that many have asked me for.
Because sometimes it happens a couple of weeks,
and sometimes even more.
Without episodes, we talk about Prospection.
And because of the value that I'm glad that we're generating,
the truth is that we can't have so much space,
between one episode and another.
Obviously, it hasn't been because it's been wanted this way,
but because, of course,
the agenda sometimes prevents you from recording
all the episodes you want.
But when you plan, you order,
you put the ball on the floor, as it is said,
you take a break,
and you project the things,
and you organize your topics,
you do it.
And the same goes for Prospection.
When one blocks an hour at least from the day,
to only prospect ideally in the mornings,
to develop the habit first,
and then there will be a modification of that block,
eventually,
it will depend on each business,
but it's the same.
The organization,
the time blocking,
the blocking of spaces for important things.
That's what I've done this time.
Blocking that space once a week,
in a moment where I obviously have less possibilities
of having to sabotage it.
Therefore, it's a great news.
And what's the idea?
Although that will also depend on other people,
but the idea is to have a weekly episode,
a single episode,
as it's called,
which is where I am today,
talking about some important topic,
which surely will also be shorter episodes,
and then alternate it with between states,
between states of high value,
and between states of high value,
as you have seen so far.
We are already in episode number 84,
we have been doing podcast for three and a half years,
something wonderful.
So, we have to continue for a long time more,
because there is much, much, much more to contribute,
and every day,
in these times new things are coming out.
Therefore, we also have to share
the new trends,
the new ways to prospect,
to sell and generate new businesses,
and to close with good clients for our businesses.
So, with that introduction,
I would like to start first,
because I think it is something important,
something that we had not been able to achieve
before we left,
so that is the first great news.
And today I want to address a topic
from which you ask me a lot.
We see it in the training programs,
it is always like in the first session,
for example, the smart perfection program,
which is one of the three programs
that today I am imparting from my consultant,
pablopefort.com.
Take the opportunity to go and take a look
at my official website,
and attend a meeting with me
to talk about any topic,
that I would like to worry about,
without any commitment,
there maybe I can guide you.
But the idea is to talk about
the Pipeline Velocity.
The Pipeline Velocity is a formula,
of which I am always talking,
as I say in some episodes,
in fact,
I remember that with Ariel Berkovitz,
who in that minute,
he said, "No, I believe in Geo-dictory,
but now he is living out of Chile,
we talk a lot about this."
He was perhaps the one who introduced
this topic to the podcast,
but that has already happened for a couple of years,
but it is a formula that still
there are a lot of people who care about it.
So today, as it is said here,
I want to explain it with pearls and apples,
so that there is no doubt about
how this is calculated,
and what it refers to.
The Pipeline Velocity,
which by the name we could,
quickly say that it refers
to the speed of your Pipeline,
which could have to do with the strength
of your Pipeline,
with the robustness of your Pipeline,
and how it is today in terms of
how far, near or well,
of your goals.
And the Pipeline Velocity,
the result that gives the formula,
which I am going to talk about,
is the equivalent of your daily sale.
I have it clear,
and this is where I begin to explain too,
so as not to confuse anyone.
I have it clear that not all businesses
close sales every day,
because the sale cycle does not allow it,
it can last a month, three months,
six months, one year,
more big projects,
others that are more transactional,
that if they can close business
in the same day.
But of course,
regardless of that,
when I talk about,
which refers to the equivalent number
of your daily sale,
the daily sale, of course,
would be what one would have to add,
for example,
if I, in the month,
have to sell 20,
the result of that formula
should be one.
Of course,
because it is equivalent to your daily sale,
so I, every day,
considering that a month
has 20 days of sales,
selling one,
I will be able to sell 20
at the end of the month.
If my goal,
if in three months,
because my cycle is longer,
I have to sell 60,
again with easy numbers
so that it understands very well,
I also have to keep that one daily,
so that in three months
I achieve 60.
So, of course,
I'm not going to close sales every day,
but if there is a daily sale value,
I sell what I sell.
In the end,
I have a daily sale value,
which is going to be a X number,
and that's the one that's going to help me
to get the calculation,
depending on the days
that I have to consider.
So,
how does this formula work?
The first is,
in the top part,
there are three variables,
it means that,
and I don't need this to be,
it doesn't matter if it's audio,
I don't need a board for this,
because it doesn't have
as many elements
as to get married so much.
There are four elements
that compose the formula.
And in the top part,
we would have
the current number of opportunities.
In other words,
I put my CRM in,
ideally,
if I have it,
if not for my Excel,
for the data,
I hope they have CRM.
Recommendations,
Pie Drive,
Hapspot,
for example.
The number of opportunities
that are alive today,
because
there is no need to be deceived,
because I can really have opportunities
in my CRM,
I have them as opportunities
that may take months,
and my recommendation here,
I'm going to take advantage of it,
I'm going to go out
with several tips,
well,
if an opportunity today
that you have in your father
and has more than three months there,
take it out,
because it clearly
doesn't have to be there.
I mean three months without action,
because, of course,
it's a big project
and it takes months,
obviously it's going to be,
but I mean three months,
where there has been no interaction
in three months.
That opportunity
is not an opportunity,
because no one collaborated,
because you didn't manage it
for different reasons.
So,
the opportunities that today
are really alive,
the ones that today
have a chance of concreting,
or have an estimate,
to be able to close
in some time.
So,
that number,
I don't know,
could be ten,
so I would have to put ten.
Multiplicated by my average ticket,
I also explain it,
because many times
there are people who don't understand it,
it's the average of my sale,
I mean,
if this month I sold
one,
sorry,
I sold two sales,
I sold one,
I sold one,
I sold five,
I sold six,
then my average ticket is three,
right?
Of course,
probably in many businesses
there will be many more transactions,
but it's the average of my ticket,
there are times when I sell
a contract of one million,
sometimes I sell a contract of ten million,
the average of my ticket,
of course,
the business line that I'm evaluating,
that's the number that goes there,
and it's in the number,
if it's one million,
it's one million,
so we would have
ten opportunities for one million,
multiplied by the closing rate,
the closing rate is
of the proposals that I have,
that I present,
how many do they become in the business,
my recommendation
for that number to be
well, well, well set,
that it can have
minimum changes,
but in time,
but,
well, the idea is that it will be
a major change
with the average time that I am improving,
but I mean that
to have the current photo,
I recommend doing a measurement
of the last six months, for example,
to have a considerable sample,
in the last six months,
how many of the proposals
that I have presented
to date have been closed,
and that gives me a fairly close number
or the real,
or what I could have as
consideration as a reference
to get this number,
so, for example,
I close with ten proposals,
I close two,
then I have twenty percent
of conversion,
and that I take it to decimal
for the effects of the formula,
that would be a zero point two,
then it would be the number of opportunities
for my average ticket,
for my conversion rate,
in decimal,
divided by the number
of sales of my sales cycle.
How long does your sales cycle last?
Some businesses close in a month,
another in four months,
another in six months,
I don't know,
it can be that your sales
average is three months,
your sales cycle,
that is, from the first meeting
until the closure,
how much is what, in average,
it takes your cycle,
and if it were three months,
I have to put it in days,
then it would be ninety days,
the number would be ninety,
then it would be ten opportunities,
for, I'm doing it here in the calculator,
three million,
for zero point two,
it is equal,
divided in ninety days,
that gives me, as a result,
sixty-six thousand,
six hundred sixty-six,
that would be the equivalent of my daily sales,
if I had ten opportunities today,
live,
if my average was three million,
right,
and if my rate of ten refers to twenty percent,
and if my sales cycle lasted ninety days,
that would give me as a result,
then it can tell me,
I'm good,
I'm far,
I'm close,
I have to work much more
to work more opportunities,
watch out,
the number that is faster,
one can impact,
is the number of opportunities,
but also with time,
if you are polishing the technique,
if you are improving your ICP,
qualifying your clients,
your average ticket will improve,
your conversion rate will improve,
and probably,
it will also impact the sales cycle,
maybe it can be reduced a little,
because when it comes to prospects that collaborate,
and that really qualify,
that number can also go down,
therefore your daily sales result
can also improve,
not only by putting more opportunities,
so be aware,
that is the pipeline velocity,
I hope it has been ultra-clear,
I don't want to make it clear to you,
and I don't know how to be clearer,
but if you don't know how to explain,
please contact me,
by email,
right,
to
[email protected],
or on my website, paolobefort.com,
schedule a meeting with me,
we talk about this topic,
we work with your company,
I help you get the real number,
of you as sales manager,
or you as commercial manager,
you want to have the number of your team,
because this can be taken as a team,
it can be taken as a particular team,
there are millions of ways,
but the truth is that it is important
to know that number,
it is the current photo,
it is what it tells you,
if you are fine today or not,
in that way you can plan better,
and organize your time for what comes,
to achieve the number that you really need,
so with that I wanted to leave you,
we will be seeing each other in a week,
I have a guest there from Lujo,
I hope that we can have the list
to publish it next week,
I will try to make this on Thursday,
I think it is a good day to publish episodes,
so that you can hear it from the judge,
not necessarily late,
but from Friday morning or Monday,
and in that way we will publish all the episodes,
but regardless of that,
if it is not the exact day,
I commit myself to be a weekly episode,
and the commitment is with you,
I want to be an auditor,
so I will fulfill it in any way,
and if something happens,
or even if it was of greater strength,
well, I will have to explain it,
but we will not get into that plan,
see you then,
in a week around here,
we will talk about prospects.
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