How to End an Opportunity

In this article, we will learn how to end an opportunity. Sometimes, an opportunity is not going to work or be in the won status. When this happens, you can mark the opportunity as lost, abandoned, or simply delete it. This is useful because you don't want to see the leads that did not work showing up where all your leads that worked are. But, you do want to know where they end up. Please, follow the next steps to learn how to update or delete an opportunity.

Part 1: Update Opportunity Status

You can update the opportunity status if it's not going to work to either lost or abandoned. 

1. Click on the Opportunity you want to update

2. A pop-up will open up for this opportunity.

3. In the pop-up, click on the status drop-down menu.

4. Select the appropriate status:

   • Lost: Choose this status if the lead has informed you that they no longer wish to be contacted.

   • Abandoned: Select this status if your lead has not responded or taken any action after a certain period.

1. Click on the Update button. This action confirms the change in opportunity status.

Note: Updating the status allows you to categorize the opportunity based on the lead's response or lack thereof.

Part 2: Delete an Opportunity

You can do this to remove it from the list entirely. 

1. Click on the opportunity you want to delete. 

   • This action opens the opportunity details.

2. Look for the Delete button in the bottom left corner of the opportunity details.

3. Click on this button to remove the opportunity entirely from your account.

Note: Deleting the opportunity removes it from the list, ensuring it doesn't clutter your active leads.

Additional Feature: Adding Custom Lost Reasons

This feature provides valuable insight into why opportunities are lost, enabling you to refine your sales strategy effectively.

1. Drag and Drop the Opportunity to the Lost Status

   • When you drag an opportunity to the “Lost” section, a pop-up window appears.

2. Add custom Lost Reasons

   • In the pop-up, there is an option to input a custom reason for the lost opportunity.

   • Type in the reason directly. If the reason is not in the existing list, you can create a new one.

   • Click on the "Create New Reason" button to confirm the addition.

1. View Lost Opportunities with Reasons

   • Utilize the filter option to view all lost opportunities.

   • The associated reason code is displayed for each lost opportunity, providing a quick overview.

Note: Adding custom lost reasons allows you to capture specific details about why opportunities are lost, enabling a more targeted approach to addressing sales challenges.

By updating the opportunity status, deleting irrelevant leads, and now, adding custom lost reasons, you can refine your approach and make data-driven decisions. Utilize these features to ensure that your active leads are streamlined, focused, and primed for success in your sales journey.