Sales for oil industry

Q1: 🛢️ You're reviewing your quarterly results. Your sales quota was $200,000, and you closed exactly that amount. However, at the start of the quarter, your pipeline value was only $250,000. What does this tell you about your pipeline health, and what risk does this create for next quarter? A. Your pipeline was healthy; having 1.25x quota in pipeline is ideal for oil sales B. Your pipeline was too small; you got lucky this quarter but have little left for next quarter C. Your pipeline was perfectly sized; you should maintain this same ratio going forward D. Your pipeline indicates you over-qualified prospects; you should be less selective E. Your pipeline suggests your conversion rate is too high; you need harder prospects

Q2: 🔍 You've just started prospecting in a new territory. You identified 60 companies with active drilling operations. After initial calls, 45 expressed some interest. You now need to qualify them using BANT. Which of these questions specifically tests the 'Authority' component of BANT? A. What budget has been allocated for this type of purchase? B. Who will be involved in making the final purchasing decision? C. When are you planning to implement this solution? D. What specific challenges are you facing with your current setup? E. How many units would you need for your operations?

Q3: 📊 Your pipeline currently shows: Prospecting (8 leads, value unknown), Qualification (15 opportunities, $900K), Proposal (4 opportunities, $400K), Negotiation (2 opportunities, $180K), Closing (1 opportunity, $75K). Your quarterly quota is $250K. Calculate your total qualified pipeline value and determine if you have sufficient coverage. A. $1,555K total; excellent coverage at 6.2x quota B. $900K total; marginal coverage at 3.6x quota C. $1,555K total; insufficient coverage, need more prospects D. $655K total; insufficient coverage at only 2.6x quota E. $400K total; critically low coverage at 1.6x quota

Q4: ⏱️ You're calculating your pipeline velocity. You have 20 opportunities averaging $50K each, your historical win rate is 25%, and your average sales cycle is 5 months. What is your monthly pipeline velocity? A. $10,000 per month B. $50,000 per month C. $2,500 per month D. $25,000 per month E. $5,000 per month

Q5: 🤝 A drilling contractor, Apex Offshore, told you 4 months ago they were 'very interested' in your mud pumps and would 'definitely make a decision by end of quarter.' That quarter ended 2 months ago, and despite three follow-up emails, they haven't responded. The opportunity is still in your Negotiation stage valued at $120,000. What should you do? A. Keep the opportunity at full value; they said they were interested so they'll eventually buy B. Reduce the opportunity value to $60,000 to reflect the decreased likelihood C. Move it back to Qualification stage and make one strong attempt to re-engage or remove it D. Move it to Closing stage and be more aggressive with your follow-ups E. Double the opportunity value to $240,000 since they've had more time to increase their budget