- This topic has 9 replies, 2 voices, and was last updated 9 months, 2 weeks ago by Jono Earles.
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Jan 4, 2024 #9516356Question re pipeline coverageJono EarlesParticipantJan 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
Jan 7, 2024 #9516370Will BarronKeymasterJan 7, 2024Will Barron Jan 7, 2024This is what I pulled together.
Does that sound about right from your end?
Jan 8, 2024 #9516374Jono EarlesParticipantJan 8, 2024Jono Earles Jan 8, 2024Cheers 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?
Jan 8, 2024 #9516377Will BarronKeymasterJan 8, 2024Will Barron Jan 8, 2024Cheers 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?
Jan 21, 2024 #9516425Jono EarlesParticipantJan 21, 2024Jono Earles Jan 21, 2024My current pipeline is 304k.
Jan 21, 2024 #9516426Jono EarlesParticipantJan 21, 2024Jono Earles Jan 21, 2024Don’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 $$$ you want to take home? Is that correct?
Jan 22, 2024 #9516430Will BarronKeymasterJan 22, 2024Will Barron Jan 22, 2024Don’t think I’ve given you the right numbers – I’ve assumed financial target is revenue generated by sales – but I think its how many $$$ 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.
Jan 29, 2024 #9516481Jono EarlesParticipantJan 29, 2024Jono Earles Jan 29, 2024Ok 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
Feb 1, 2024 #9516494Will BarronKeymasterFeb 1, 2024Will Barron Feb 1, 2024Yes, I think so.
Feb 1, 2024 #9516500Jono EarlesParticipantFeb 1, 2024Jono Earles Feb 1, 2024Cheers thanks
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