Building Your Business: Sales Funnels and Pipelines for Small Businesses

Last weekend, I had the pleasure of speaking at the Wealth and Wellness conference here in Nashville. My workshop focused on helping small business owners build profitable sales funnels.

Here's the thing: many people get confused by the terms "sales funnel" and "sales pipeline." But understanding the difference is crucial to attracting new customers and turning them into loyal fans.

Let's Talk Funnels: The Customer Journey

Imagine your sales process as a funnel. At the top, it's wide open, representing a large pool of potential customers who might be interested in what you offer. As they move down the funnel, the pool gets smaller, but the remaining prospects become more qualified and closer to making a purchase.

The sales funnel represents the customer's journey. It maps the stages a potential customer goes through, from becoming aware of your brand to making a purchase decision. This perspective is all about marketing: how you attract, engage, and nurture those potential customers.

Here are some key stages of a customer journey within a sales funnel: