Predicting close dates is one of the most challenging aspects of accurate forecasting in complex sales environments. It’s particularly difficult in new business situations where the vendor has no past history of successfully selling to the prospect. Under these circumstances, it can be hard for the sales person to make a well-informed initial judgement as to when the opportunity is likely to close.
It’s easy to see why these initial estimates often prove to be inaccurate. The challenge is compounded by the fact that most CRM systems will not allow you to create a new opportunity without entering a close date. So it’s no surprise that this initial prediction is no more than a guesstimate, and often requires at least one adjustment.
But that first adjustment is often just the start of a series of slippages, to the point where it’s hard to have any confidence that even the very latest projected close date will actually be achieved…Read More