With the pandemic behind us and a red-hot summer in full swing, many of your company’s employees may be finally rediscovering the uninhibited joys of vacation.
Whether you know it or not, if your business has ever applied for a commercial loan, you’ve likely been subject to “adverse media screening.” Under this commonly used practice, a prospective borrower is “screened against” various media sources to determine whether the person or entity has been a party to any suspicious, unethical or illegal activities.
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them off for a hefty profit, it could trigger a large tax bill.
“It’s in the pipeline!” Business owners often hear this rather vague phrase, which may be good news in some cases or code for “don’t hold your breath” in others.
Your sales pipeline, however, is a very real thing. Simply defined, it identifies and quantifies the prospective deals in progress at various stages of the sales process. Properly managing your pipeline can help your business avoid losses and meet or even exceed its revenue goals.
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