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  • #9516356
    Question re pipeline coverage
    Jono Earles
    Participant
    Jan 4, 2024

    Hey Will – just dropping in the relevant info re pipeline coverage:

    Background info

    • We have a monthly target of 22k of sales
    • For every $1 we sell over 22k we get 25%
    • My sales target for the year = $550k
    • Based on 2023 figures I will get $130k of sales from upsell opportunities to existing customers plus $150k of sales from meetings that are booked for us by our call centre.
    • Given the above I’ve put my financial target at $270k

    Rest of numbers:

    • Financial target: 270,000

    • Base salary: $110,000

    • Percentage commission per deal: 25%

    • Average sales cycle length: 61 days

    • Months left to hit financial goal: 12

    • Average closing rate percentage: 50% (once it gets to proposal stage)

    Let me know if you need any more info – cheers

     

     

    #9516370
    Will Barron
    Keymaster
    Jan 7, 2024
    Will Barron Jan 7, 2024

    This is what I pulled together.

    Does that sound about right from your end?

    #9516374
    Jono Earles
    Participant
    Jan 8, 2024
    Jono Earles Jan 8, 2024

    Cheers Will – so is this basically saying that at any given time I need to have $563k in the pipeline to stay on track for target?

    #9516377
    Will Barron
    Keymaster
    Jan 8, 2024
    Will Barron Jan 8, 2024

    Cheers Will – so is this basically saying that at any given time I need to have $563k in the pipeline to stay on track for target?

    That is correct.

    How does your pipeline look?

    #9516425
    Jono Earles
    Participant
    Jan 21, 2024
    Jono Earles Jan 21, 2024

    My current pipeline is 304k.

    #9516426
    Jono Earles
    Participant
    Jan 21, 2024
    Jono Earles Jan 21, 2024

    Don’t think I’ve given you the right numbers – I’ve assumed financial target is revenue generated by sales – but I think its how many $$$ you want to take home? Is that correct?

    #9516430
    Will Barron
    Keymaster
    Jan 22, 2024
    Will Barron Jan 22, 2024

    Don’t think I’ve given you the right numbers – I’ve assumed financial target is revenue generated by sales – but I think its how many $$$ you want to take home? Is that correct?

    Correct, your financial target is what you want to earn.

    i.e. – I want to take home £500k this year. By base salary is £150k. So the first part of the formula is 500k-150k.

    #9516481
    Jono Earles
    Participant
    Jan 29, 2024
    Jono Earles Jan 29, 2024

    Ok cheers Will – have changed the numbers to $180k being $$ target and conversion rate from meeting to appointment = 17%. See link below – does this make sense?

    https://docs.google.com/document/d/1OmjqEn306pZZ3-8xpo5xkVDhxVVMFzMIUG6vssBgNbk/edit?usp=sharing

    #9516494
    Will Barron
    Keymaster
    Feb 1, 2024
    Will Barron Feb 1, 2024

    Yes, I think so.

    #9516500
    Jono Earles
    Participant
    Feb 1, 2024
    Jono Earles Feb 1, 2024

    Cheers thanks

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