When should I create an Opportunity?
 
TekStack can track and display a wealth of data about opportunities to help you accurately forecast your business. For example, how long is it taking deals to close? How long does it take to move through various stages? Are we continuously losing deals to the same competitor? At what stage(s) do our deals tend to get stuck? What is our win rate?

The key to ensuring that these questions can be answered accurately is to open opportunities early and keep them up to date as you move through the sales journey with the customer.

We recommend creating an opportunity before you begin investing a great deal of time with the customer. This way, all important detailed correspondence with the customer will be tracked in TekStack.
Create an opportunity for a Qualified Account when you can identify the following information and receive these signals from the customer:
 
 
What you WANT to see with opportunity creation:
  • Opportunity is opened early based on signals and info received from the customer.
  • Communication with the customer is tracked.
  • There are relevant opportunity source details included.
  • There are some pricing estimates included.
  • Some details have been added to Business Impact, such as information on the customer’s current situation and a preliminary list of customer needs.
What you DON’T want to see with opportunity creation:
  • Opportunity is created before the customer has indicated any buying signals. This could result in a cancelled or lost opportunity that should not have been an opportunity to begin with.
  • Opportunity is created and then won immediately. Doing this means you miss out on all the data regarding the customer’s sale journey which play a large role in business forecasting.