Can Your Pipeline Predict Your Future?
In This Issue…
You can’t outrun chaos… but you can outsmart it!
446 words, total reading time less than 2-1/2 minutes
Can’t think of a more perfect day to talk about your pipeline – future revenues dressed up as a list of jobs and prospects. Maybe you tear into your pipeline looking for those jobs/prospects that present the most immediate opportunity. Or maybe you’re so busy with so many jobs & prospects that you don’t even worry about your pipeline?
That would be a mistake, because a managed pipeline brings more revenues and profits than an unmanaged pipeline.
The Weekly Pipeline Pause
To manage your pipeline you need to measure and review it regularly. We don’t know about your business, but in many integration companies a lot of stuff can go off the tracks in one week’s time. That’s why it always pays to stop, get your bearings, and reset your priorities for the week ahead.
A report list of your current projects goes a long way to making this weekly pause more structured and productive. The report lists all your JOBS currently in production, shows the total value of each project, and…
Shows you the dollar value of work remaining to be done on each project.
We call this “remaining work” your Production Pipeline. There is a LOT of valuable, actionable information here..
Which projects are almost done? Finish them up and collect your final payment.
Which projects need to be completed soon? The list helps determine what you can work on over the next week or two.
Do you need extra help? If you’re a $1.8M company, and you’ve got $600,000 in open pipeline, that’s 4 months-worth of business. If you only have 2-1/2 months to complete the work, you better get some extra help.
Do you need to make some sales? A busy production schedule can make it feel like all is well, but if you’re that $1.8M company and your production pipeline is only $100,000, you’re going to be out of work in about 3 weeks. Better go sell some stuff, quick!
Regimen Will Set You Free
We recommend a weekly review of the production pipeline. Do it the same day each week. Start at the same time, and on-time. End at the same time, and on-time. Keep the discussion focused on your JOBS list and setting up your production plan for the coming week.
It might seem like you don’t have time to do this but the real truth is, the weekly pause & reset helps you get more done every week. It brings order to the chaos. And as we like to say, you can’t outrun chaos, you’ve got to outsmart it.
Attend this week’s 1st Friday webinar and we’ll show you exactly how this is done! It's 30 minutes well spent.