This principle is without any doubt the most impactful of all the principles. Every company that implements this, routinely improves their forecasting accuracy from 30 to 95% within 3 to 6 months. And this is very closely related to the 3d and 4th quality principle outlined above.
When we have our sales stages created, and defined what every stage means, we still have inconsistency, because some people interpret a definition in one or the other way. Besides this, many sales reps give to the customer, but forget to define what they need to get in order to move a deal or opportunity forward.
You will solve this by implementing the following 3 Gs: the gives, the gets and the gates, for every sales stage.
Identify what information, tool, component you will give to your prospect at the current stage.
For example: case studies, price, story to solve the pain, …
Identify what you need to get from your prospect at the current stage. For example: commitment, agreement on the scope, a start date, a signed PO, …
Identify the condition to move the opportunity to the next stage. As long as these conditions have not been met, then you cannot move this opportunity forward.
For example: knowing the priorities of the budget owner, prospect agrees with scope, decision maker confirms budget, …
A word of caution: this only works when the team or organisation implements and manages those 3 Gs, during company communications, QBRs, deal reviews, pipeline reviews… and showcase the successes of these implementations widely.