01:15: the same concept explained in different ways sometimes it makes different sense to different people02:01: Same ideas in different terms02:22: initiation, qualification, negotiation, determination02:48: Deming says, if you can't define what you're doing as a process, you don't know what you're doing03:16: Contacts and leads. And there is a difference The contact is anybody whose contact information you have03:27: lead is someone who could actually be doing business with you03:35: lead generation is another word for initiation03:42: touches and meetings03:48: ideally one leads to the other. Touches are all of the different ways you could reach out to get to the meeting, email, phone, call, text message, LinkedIn connection, meeting somebody face-to-face bumping into them at a networking event.04:11: “scheduling a meeting is good. Holding a meeting is better” -M04:35: prospect and proposals04:44: Prospect is somebody who you've had a meeting with and we are now in the negotiation phase with that person04:51: prospect when things get real and they get a proposal when things get really real05:02: sale and revenue05:20: sale doesn't convert to revenue right away Revenue is when it's in the bank Sale is when it's on paper05:48: “He's my governor. He slows me down a little bit” -M about Brad06:05:” I need to know where a potential revenue is in my sales process” -M06:53: “my goal is to get to the next step” -M07:11: it’s important to be accurate and objective about where an opportunity stands07:22: a better view of your pipeline and know where you should be putting in your time and your attention and your energy07:50: You need to know that there's a filter between each of these stages of the sales process08:04: So basically you can't go to the next one unless you go through the first one08:19: “meetings don't just happen” -M08:59: Every contact is not a lead09:15: you need to classify your leads09:25: A means target buyer person with money who has a problem, who will pay to make the pain go away09:49: A B is somebody who is not quite there.09:53: Maybe it's a good opportunity. It's maybe it's a partnership, but it's not actually the person who's going to be making the purchase10:17: C is just basically a contact10:32: I need just send them a LinkedIn request because you never know who knows who and what might come back, but you don't want to spend a lot of time running down contacts that you think are leads10:41: identity what makes a well-qualified lead10:57: “look for what's common among the people that are doing business with you” -M11:05: you will be able to identify the theme that identifies what's true for you, and that'll help you do a better job of classification
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