On the basis that it always seems to take longer than you want it to to go from an enquiry to onboarding a new client then you need more in your pipeline than you think.
But yet most businesses have too little in theirs.
How full is yours?
I bet it isn’t full enough. And that’s gonna hurt at some point.
I know, it’s hard work, and you’re busy.
Well that’s business – so suck it up!
The success of your business relies on your pipeline and your ability to fill it and manage opportunities through it
There is no one answer to how big your pipeline needs to be to ensure success as it’ll vary from business to business.
If you know your conversion rate then that will give you the answer. Eg if you convert 25% of all enquiries then you need 4x more enquiries than the number of clients you want to gain.
As a general guide I would advocate it’s at least 7 to 8 x bigger than you actually need.
Here’s why: That dead cert will disappear!
Your head will start to tell you “gosh we won’t be able to deliver all of this so best to hold off finding any more enquiries” but what actually happens is the opportunities die off and you end up totally stressed with a hole in your bank balance.
Don’t let that happen.
Fight that urge.
And here’s why it’ll all be ok….
It’s totally fine to have a waiting list or to schedule things in for the weeks ahead, when you have more work coming in than you can do right now.
Let’s examine this for a minute…
We want a consistent flow of enquiries and clients so why are we worried about having too much work?
I think it’s the fear of not doing a good enough job.
So put strategies in place to ensure the quality of what is being produced and plough on with that funnel.
What’s more stressful, not having enough work and struggling to pay the bills, or, having to manage the risks around the quality of your delivery if you have to schedule work in for the weeks ahead?
So manage those delivery risks and fill that funnel.
The only thing that will stop you gaining the right number of clients to hit your targets is YOU.
So get out of your own way, stop hiding and fill that funnel.
Remember that voice in your head that tells you that it’s already full enough is actually your 6 year old self combined with our flight/fight mechanism which kept us safe when we lived in caves.
But here’s the thing, neither your 6 year old self or your caveman ancestors understand sales funnels so don’t listen to them.
Go out and generate those leads.