The Funnel Theory:

First: The Funnel:

The Funnel is a way of describing your prospect base that is used by ACT and GOLDMINE as their basic premise. The problem with both of these 2 most popular packages in my opinion is that they include so many extra functions in order to sell their product that the basic intent of their system gets lost by users with little or no training and even by veteran users.

Imagine a funnel, like a megaphone with a large open side on one end and a small open side on the other.

Many businesses find themselves in business for 30 years and the sales department has information on about only 20% of the potential market due to turnover, record keeping on paper (unusable in many cases because of being outdated), and general policy of not understanding the funnel theory.

The premise: The large side represents how many potential accounts you know about in order to be able to contact them and sell your services to. The small side represents prospects who are ready to make a yes/no decision on a quote or proposal or bid you make and a percentage of these will fall through the small end and become sales.