A sales opportunity is potential customer or client who has shown an interest in your product or service in some way. Sales opportunities don't just appear out of thin air - they're the result of a process that begins with generating leads. Once you have a lead, you need to qualify them to determine whether or not they're sales-ready. If they are, then it's time to start working on closing the deal.

Tracking an opportunity can help you stay on top of your sales pipeline and better understand your chances of closing a deal. By tracking an opportunity, you can see when it was last updated, who is working on it, and what stage it's in. This information can be extremely valuable when trying to prioritize your time and resources.

Additionally, tracking an opportunity can help you identify any potential red flags that may arise during the sales process. For example, if an opportunity suddenly moves backwards in your pipeline, it could be an indication that the deal is at risk. By tracking opportunities, you can stay one step ahead of your competition and close more deals.

The Stages of Sales Opportunities are:

1. Prospecting: In the prospecting stage, salespeople identify and qualify potential customers who might be interested in buying their product or service.

2. Research: In the research stage, salespeople learn more about the needs and wants of their potential customers. They also gather information about the competition.

3. Approach: In the approach stage, salespeople contact their potential customers and try to build relationships with them.

4. Presentation: In the presentation stage, salespeople present their product or service to potential customers and try to convince them to buy it.

5. Negotiation: In the negotiation stage, salespeople try to reach an agreement with their potential customers about the price and terms of the sale.

6. Closing: In the closing stage, salespeople finalize the sale and get the customer to sign a contract.