A typical set of stages
- Prospecting or qualification.
- Discovery and needs analysis.
- Proposal or quote.
- Negotiation.
- Closed-won or closed-lost.
Define exit criteria for each stage
A deal should move forward because something happened (a demo was held, a quote was sent, a decision-maker was identified), not because time passed. Write these criteria down and use them consistently.
Metrics worth tracking
- Conversion rate between stages.
- Average time in each stage.
- Pipeline value by stage and owner.
- Win rate and reasons for losses.
Frequently asked questions
How many stages should a pipeline have?
Enough to reflect real decision points, and few enough that reps update them accurately. Five to seven is common.