How do you define a “Qualified Opportunity”?

How do you know if you are on a good track toward closing a deal or at least gathering the necessary information?  One approach is to start with a clear understanding of how you want to define a “Qualified Opportunity”.  Thoughts on where to start…

Key criteria

No matter what you are selling, the following are likely critical to your having a “Qualified Opportunity”.

  • You have access to decision makers
  • Funding is available
  • Customer has a sense of urgency
  • You understand the following about the decision process:
    • Key players
    • Steps
    • Decision criteria for each player
    • Timeline

Other elements of the definition

Other elements that should be part of your definition of a “Qualified Opportunity” may come from several angles including the solution you are selling and existing conditions at your customer.  For example, does your solution require certain technology to be in place…OR…a certain program to be underway at the customer (e.g. initiative to create “community spirit”, initiative to promote mental health).

Use your definition of “Qualified Opportunity” to guide your activity

What you do NOT know should turn into action items for you/your team.  It is ok, as you close these gaps of information, to “qualify an opportunity out”.  If, for example, you determine there is no way the customer will get sufficient funding…some opportunities do not work out.  Using your definition can help you prioritize your efforts!

Feel free to contact me directly for ideas and/or help on this or other topics!

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