The lifecycle of an opportunity in opportunity management begins with the creation of a new opportunity, typically starting at the Prospecting stage.
As the sales process progresses, the opportunity moves through various stages such as:
Qualification,
Needs Analysis,
Proposal,
Negotiation.
Each stage represents a step closer to closing the deal. The lifecycle finishes with either a Closed Won stage (a successful sale), or a Closed Lost stage (not secured deal).