Getting Started With Opportunities

April 15, 2017

Page Reviewed / Updated – April 2017

How to handle Opportunities while using W3B CRM

Definition: a business opportunity (or bizopp) implies the sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to start a business. The licensor or seller of a business opportunity usually declares that it will secure or assist the buyer in finding a suitable location or provide the product to the purchaser-licensee.
(Source: Wikipedia)

Business Opportunities and Reports

This guide will cover what you need to know about potential business that we cann opportunities, why you should use them, and how to view the reports.

Opportunities are very important in keeping the sales team informed with what is coming, especially the executives. Sales Reps use the opportunities to keep track of their sales efforts. Executive managers analyze the opportunities and they make decisions according to company directions. An opportunity not only brings money in your company but can also bring expenses. In order to execute a service, the company has to invest some money.

Summary Report

We will start with the report to show you how the results are organized.
First screen below is the summary report. Then the next screen contains the funnel and the sources, both reports from the dashboard.

Sample Report

Summary Report

Opportunities Source and Opportunities Funnel

Source and Funnel

How to Add an opportunity into your CRM

Add or edit an opportunity into your CRM is as simple as you can see below. Here are some details on the most important data entry fields.

Opportunity Name – use a descriptive name – make it easy to remember.

Amount – the money you expect to earn from this deal.

Stage – contains values that you can manage. You can add your own opp. stages.

Source – contains values that you can manage. You can add your own opp. sources.

Managed By – the member of your sales team that will be in charge with this opportunity.

Result – contains values that you can manage. You can add your own opp. results.

Deposits – contains values that you can manage. You can add your own values.

Description – details about the opp – your team will see this and they should understand what the deal is about.

Notes – is the place where you type anything you want to remember about the deal.

Activities – apply a predefined set of activities, like a predefined set of follow ups.

Add New Opportunity into your CRM

Add New Opportunity


Conclusion about the opportunities

No matter which sales strategy you or your company have, working with Opportunities should be one of your first priority as a sales rep.

Remember you can define your own values for Stages, Sources, Results, and Deposits. Opportunity funnel is based on the Stages and is also dynamic.

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