A PRACTICAL GUIDE TO CLOSING MORE DEALS
A Sales Funnel represents a sequence of steps necessary to sell products or services. The process begins with identifying a sales opportunity and ends with closing it, whether as won or lost. Although sales funnels differ from industry to industry, they generally follow a similar path when it comes to developing sales opportunities until they close one way or the other.
If you haven’t designed and applied your own sales funnel yet, the structure described below is a great starting point. It reflects the most common and logical sequence of sales stages we’ve encountered across many sectors and industries. Use this as your template, and then customize it for your specific business needs.
1️⃣ Opportunity Identified
This is where you log any potential sales lead that you can reasonably identify. It could come from a casual conversation during an event or a tender you’ve seen in the papers. Be optimistic but realistic, avoid inflating your funnel with dead-end opportunities.
👉 Probability at this stage? Usually zero. You’re simply aware of the opportunity and have a follow-up planned.
2️⃣ Qualification
Now that you’ve gathered initial details, maybe met the lead or reviewed a tender document, it’s time to assess whether it’s worth pursuing. Did you spot body language cues?
Did the RFP suggest a real chance at success? This stage is critical: better to drop weak leads early than waste time on doomed proposals.
👉 Trust your instincts. Qualify rigorously to focus on promising opportunities only.
3️⃣ Identify Solution
At this point, the spotlight turns inward. Can your company genuinely deliver what’s required? Do you have the experience, credentials, and references to compete?
Avoid falling into the trap of under-pricing just to win. That’s a quick route to regret and eroded profits.
👉 A good fit at this stage prevents win-lose or lose-lose outcomes later.
4️⃣ Preparing Proposal
Confident in your solution? Now package it into a clear, persuasive proposal. Draw inspiration from past submissions, but don’t blindly copy. Templates can be outdated or error-ridden. Refresh market data, tailor your pitch, and make sure everything is polished and well-designed.
👉 Don’t forget: proofread, revamp, and involve your marketing team where possible.
5️⃣ Proposal Submitted
You’ve done the hard work. The proposal is in. Now, patience is key. Avoid being overly aggressive with follow-ups. Respect the client’s timeline, but if feedback is unreasonably delayed, you have every right to request clarity on next steps.
👉 Stay engaged — without being pushy.
6️⃣ Review and Negotiations
This is where the client signals real interest. Together, you refine the proposed solution. Stay focused on value, not just price. If price reduction comes up, try to enhance value with add-ons rather than cutting revenue.
👉 Remember: win-win is the goal. Don’t give away too much just to close the deal.
7️⃣ Contractual
Congratulations! You’ve reached agreement in principle. Now comes the contractual stage where you translate those agreements into a binding contract. This is not just paperwork. It’s your opportunity to lock down all key terms, clarify deliverables, timelines, and responsibilities, and safeguard against future misunderstandings.
👉 Pay attention to contract language, scope, payment terms, and conditions. Involve your legal team where appropriate, and ensure both sides are clear and comfortable before signatures are inked.
8️⃣ Closed
This is the final stage: you either win the opportunity or not. If you win, the contract is executed and handed over for delivery. If you lose, all isn’t lost. You’ve gained valuable intelligence that feeds into your CRM and marketing programs, ensuring you stay on the radar for future opportunities.
👉 Capture lessons learned, and keep nurturing the relationship.
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