Your sales pipeline is every call, meeting, email, sales conversation, the guy you met at the boat show and other contacts you've had during the normal length of your sales cycle.

Most of these conversations are in early stages and far from the close. These are people you think need what you're offering. Others are folks with whom you already have a history. You've had several chats with them and you've identified a good fit between what you're offering and their needs.

A sales pipeline works in its own good time
An active and effective sales pipeline consists of conversations with prospects that lead to signed deals and fall within the timeframe of your typical sales cycle.

As an example, if your normal sales cycle from the initial "Hi there" to the signature on the dotted line takes 6 weeks, then any conversation lasting longer than 6 weeks must be considered to be held outside the pipeline and put on the back burner.

"What, toss away that guy I've been working for the last 2 years?" you ask. No, you don't ignore them altogether, it's really a matter of focus. It might seem strange to think about taking your focus away from a long-term prospect, even if they might be near the close.

Profitable sales pipeline management is about focusing on those conversations that are most likely to close. This means only those that fall within your sales cycle. Persistence is a great quality, but focused effort is really what makes money.