Many sales methodology training courses focus considerable attention on closing techniques. In fact, there are entire books written about how to “close” sales. Certainly closing is an important activity, as the time, effort, and resources invested in managing sales cycles are wasted if orders are not secured. However, the real secret to closing sales is doing a great job at the front end of the sales cycle. In other words, it is the quality of the work that is done during the opportunity qualification stage of the sales process that determines whether a sale will close, as well as how hard or easy it will be to close. Doing a great job of opportunity qualification also minimizes the amount of time, energy and resources that are wasted on opportunities that will never close, or that will produce only marginally profitable or unprofitable business.
At its simplest, opportunity qualification is the process of determining whether a prospect has enough interest in a product, service, or solution for them to justify engaging in a sales cycle. At its most effective, opportunity qualification is a two-way street. What does this mean? It means you shouldn’t focus solely on whether a prospect can be enticed into a sales cycle. You should also carefully consider whether the prospect is worthy of the time and resource investments that will be required to manage a sales cycle. The best way to accomplish this level of qualification is to break the process into three separate steps: Business Problem Qualification, M-A-I-N BP Qualification, and Technical/Detailed Qualification. Each of these steps is explained below.