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Pipedrive Sales Pipelinbe

Factoring Broker Sales Pipeline

Setting Up Your Sales Pipeline in Pipedrive

Pipedrive is a popular and powerful CRM and is perfect for all types of consultants.  Because it is universal, you will need to adapt or “customize” it to specifically fit your needs as a factoring broker.  Pipedrive is very user friendly and making these small customizations will take only a few minutes.  Prior to starting this lesson, we recommend you view the company video on Pipeline setup here.

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Customizing Your Sales Pipeline

When you first log in to Pipedrive, click on “Deals” in the Navigation Bar to display your default Sales Pipeline.  This Pipeline has five (5) stages by default and we will be renaming several and adding two (2) new stages.   The default stages you will see are…

  • Lead In
  • Contact Made
  • Demo Scheduled
  • Negotiations Started
  • Proposal Made

To edit the Pipeline click the “slanted pencil” icon directly to the right of the drop down box which has the name of Pipeline.  This drop down box is located in the upper right hand corner of your screen.   Once you have clicked slanted pencil your screen will look like this….  (click image for larger view)


Modifying the Stages in Your Sales Pipeline

Modifying the sales pipeline stages to better suit factoring brokers / consultants in Pipedrive’s is very easy and we will be creating seven (7) stages.  They are…

  1. Lead In:  This is the default stage in Pipedrive and remains the same.  You should set the “Probability” to 25% and the “Deal Rotting” to 1 day.
  2. Contact Made:  This is the default stage in Pipredive and remains the same.  You should set the “Probability” to 50% and the Deal Rotting to 3 days.
  3. Profile Received:  Change the name of the “Demo Scheduled” to Profile Received.  This relates to you receiving a completed Company Profile from the prospect.  Set “Probability” to 75%.  When a prospect completes a company profile they are very “hot” leads.  Set “Deal Rotting” to two (2) days.
  4. Submitted to Lender:  Change “Negotiations Started” to “Submitted to Lender”.  You will drag the prospect’s pipeline record to this stage when you have chosen a lender, have a broker’s agreement in place, and have emailed the Company Profile along with any other supporting deal documents.  Set Probability to 85% and “Deal Rotting” to three (3) days
  5. Declined / Problems:  Click the green “Add New Stage” button and create a stage entitled “Declined / Problems”.  This stage is self explanatory and you will drag the prospect’s pipeline record here if the deal is declined by the lender due to a problem.  Make notes regarding the deal’s problems in the Notes Area under “Organization View” in Pipedrive.  Reduce your Probability to 50% and set Deal Rotting to three (3) days.  That gives you adequate time to find a new lender if possible.
  6. Re-Submitted:  Add a stage for “Re-Submitted”.  You will use this stage if a deal has been turned down by a specific factor due to, for example, being in a niche industry the factor does not service.  Set your “Probability to 75% and Deal Rotting to three (3) days.
  7. Approved / Terms Offered:  This is the final stage where the factor has approved your deal and sent contracts to your prospect to sign.  The factor will work directly with your prospect to get the contracts executed and returned.  Set “Probability” to 100% and “Deal Rotting” to seven (7) days.  NOTE: The prospect stays in this stage until you receive your first commission check.  Then you can drag this deal to “Deal Won” at the bottom of the screen.

Once you have updated your Deal Screen, it will look like this…