In this article we will be breaking down Pipeline Reports, which is one of our favorite systems here at Buildify. For most businesses, a functional Pipeline Report provides the necessary clarity and information used to direct your Marketing team and Sales team. The pipeline report is a pivotal system that is at the heart of any business’ ability to grow and scale. Come along as we delve into the function and power that a Pipeline Report provides through the lens of Buildify’s Method.
One of the reasons a Pipeline Report is a favorite around the Buildify campus, is this particular system’s positive impact on the mindset of the owner, and on subsequent teams like Marketing & Sales. A major benefit a Pipeline Report yields is that it keeps you out ahead of your business. At Buildify we believe that an effective pipeline should show you your projected sales at least 3 months out. Having your focus 3 months ahead of your business allows you to properly plan and strategize so there’s ample time available to line up the company’s Sales Goals.
For example, when looking at your Pipeline Report with team members, you see that next month you are only 60% of the way to your goal, and the month after you are only 25% to your goal. For most of us that would light a fire under our asses! The Pipeline Report keeps you clear and present to your numbers, and your numbers keep your mind mentally engaged. When you are mentally engaged, you take different actions, and those different actions produce typically positive results.
At Buildify we believe that certain systems help to anchor your mindset in place. Being mentally engaged and driven as well as having your teams mentally and emotionally engaged creates the kind of culture that breads performance and results. At Buildify we are all about performance, hence why the Pipeline sure is one sexy system in our eyes xoxo 😉
Now that we’ve covered the mental game of your Pipeline Report, we’re diving into the structural components that make an effective Pipeline Report really work for you and your team.
The first piece you’ll want in place when constructing a Pipeline Report is the layout, so that you can see the month you’re currently in, plus the next two months out beyond the current one. This view allows you to stay ahead of the business so there are no surprises.
The next critical component- at the bottom of each month there needs to be a ‘Target’ or ‘Goal’ section where you enter the Sales Target / Sales Goal for each month. Then, directly under that, you need an ‘Actual’ section which totals all of the sales and projected sales under that month. Lastly, we need a third section or box that shows the difference between the two.
EXAMPLE:
| Sales Goal | $30,000 |
| Actual | $27,000 |
| Difference | -$3,000 |
The final component of a functional Pipeline Report the Buildify way is to have another box that totals up all 3 months, allowing you to see your Quarterly performance, along with your month-to-month performance. You would have the same 3 items: Sales Goal, Actual and Difference- it would merely be totaled for the quarter. In some industries, it can be tougher to nail each month, but you MUST hit your Quarterly targets. Having both views is the key to having a Pipeline Report that truly supports your business.
Buildify Systems has created for you a customizable Pipeline Report system, as part of our software suite. Our functional Pipeline Report automatically talks to several other key systems in the suite. One of the critical systems in our suite that the Pipeline Reports automatically talk with are our Lead Tracking Forms. For example when you add a lead to a Lead Tracking Form, and that lead then moves forward to become a customer, with the click of a button Buildify populates your Pipeline Report with that Customer along with all other relevant information, keeping your Pipeline Report accurate and up to date for you with just the click of a button.
Visit our blog page for more information on creating a functional Lead Tracking Form!
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At Buildify, we are committed to empowering business owners by giving them powerful tools right at their fingertips.
In the Buildify Systems platform, we have made creating and implementing key system easier and more efficient for you. We are committed to providing your with all the foundational business systems you need in order to grow and scale. Aaron Keith, our founder and master business coach, has masterminded our dynamic systems with his more than 20 years in business and having worked with more than 10,000 companies over that time.
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