Opportunity Management

Tremendous effort and cost can be sunk into competing for opportunities, not even considering the cost for lost opportunity. Most of this activity is in detriment to operational commitments as resources are typically shared between presales activities and development projects.

Rare are the chances to define which and when opportunities will be won, however you do have control over deciding when an opportunity should be lost.

One solution is to introduce a systematic and gated approach to analysing risks and probabilities and deciding when to pull the plug or charge ahead.

Goals for a well-managed Opportunity Funnel:

• Qualify, Quantify and Prioritise Opportunities
• Reinforce partnership contracts/commitments
• Orient Innovation and IP creation
• Feed company Business Plan

Investing adequately in the early stages of an opportunity can

• Avoid wasting time on lost causes
• Avoid diluting the company value
• Build bi-directional trust between you and the customer
• Set the team and the company up for success