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This course will explain with standard forecasting as it it done in most companies and will teach some methodologies in order to ensure robust, reliable and consistent sales forecasting within your sales team.
Forecasting means to create a likelihood for a certain revenue at a certain time, usually the end of a month, a quarter or a year. The typical method is to assign probabilities to a certain revenue number, that could be for a region, a customer or a single deal. In high-tech sales, the forecast is [...]
At first sight, one could question that there even is a trade-off between high revenue growth and forecast reliability by claiming that closing probabilities should be the same in both scenarios. Sales people with some experience intuitively know that a reliable forecast requires to be more stable and less aggressive in revenue growth. So, let’s [...]
Let’s first look at the typical sales process in high-tech sales in the IT and telecommunications industry. There are probably more books on the topic than actual sales people out there, but in my experience the following process has been proven to be valid: Now, if you look at the process you can see that [...]
In Sales, you are dealing with probabilities for closing deals. You will never win 100% of your prospects as customers. This is important to remember when it comes to sales forecasting. Therefore, at the beginning a few basics regarding probabilities: Chance or accident we usually call something for which we don’t know the probability of [...]