Closing Opportunities

An opportunity ends when it is won, lost, or cancelled. This topic describes how an organization can close out an Opportunities record depending on the end result.

• Closing Won Opportunities
• Closing Lost Opportunities
• Closing On-Hold or Cancelled Opportunities

Closing Won Opportunities

If an opportunity is won, follow these steps to update the Opportunities record:

1. Open the Opportunities record.
2. On the Status tab, enter the date the decision was made in the Actual Decision Date field.
3. Change the Status to Won.
4. Change the Stage to a value that indicates that the deal has been won.
   
   
5. Add any applicable comments or other information to the record.
6. Create a Status Report for this opportunity if necessary (see Recording Opportunity Status Reports).
7. Save and close the Opportunities record.

Closing Lost Opportunities

If an opportunity is lost, follow these steps to update the Opportunities record:

1. Open the Opportunities record.
2. On the Status tab, enter the date the decision was made in the Actual Decision Date field.
3. Change the Status to Lost.
4. Change the Stage to a value that indicates that the deal has been lost.
5. Click the Details tab and specify the name of the competitor to whom the deal was lost (if known) in the Lost To field. (This field links to the Companies service.)
6. If the competitor who won the deal is recorded on the Opportunities record's Competitors tab, open that Competitors record and select the Lost To box and select a Lost To Reason.
   
   • See Tracking Competitors for more information on the Competitors tab.

   

7. Add any applicable comments or other information to the record.
8. Create a Status Report for this opportunity if necessary (see Recording Opportunity Status Reports).
9. Save and close the Opportunities record.

Closing On-Hold or Cancelled Opportunities

If a prospect decides to postpone a decision or cancel a project, follow these steps to update the Opportunities record:

1. Open the Opportunities record.
2. On the Status tab, change the Status to On-Hold or Cancelled, depending on the information received from the prospect.
3. Change the Stage to a value that indicates that the deal has been placed on-hold or cancelled.
4. Add any applicable comments or other information to the record.
5. Create a Status Report for this opportunity if necessary (see Recording Opportunity Status Reports).
6. Save and close the Opportunities record.