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Competition and Profitability

The existence of competition in the market allows for companies to become motivated to increase their profits. It may feel like playing the game of tug of war, however, it is much more complex than that.

It's not about being the biggest company, but rather, profitability.

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Competition makes markets strive to earn more than their counterpart, here, we listed the five forces that influence the competitive market.

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Don’t Over-Promise And Under-Deliver

Sellers must first build their pipeline, then ensure as much accuracy as possible in the numbers they offer. Then the sales manager is responsible for communicating the combined pipelines of their team to upper management.

It’s common for sales managers to trust some of their folks’ numbers but may find others not so reliable. In other words, the problem is with those salespeople who are too optimistic, then over-promise and under-deliver.

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When the end of the quarter is approaching, what do sales managers want? Easy answers. Which sales that their people promised will close this week? And if not, why not? When will they close? Here are 4 questions that sales managers can ask to test for sales pipeline accuracy.

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After you’ve established a product-market fit and have your demand generation in order on the marketing and outbound sales side of things, it’s important to ensure that your reps have their calendars full depending on the deal size. Once that’s solidified, founders should be looking at the average deal size, the speed — how fast the deals are going through the sales cycle, not just in total but by stage — and then on top of it too is the conversion rates.

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