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E.g. Imaging you have a business that sells Furniture. When your friend tells you that his neighbour is looking to buy new furniture. Your immeediate response would be , send your neighbour to my shop or ask your neighbour to call me or can i have your neighbours phone number. So basically you are thinking of that neighbour as a potential customer.
Opprtunities are deals in progress.
E.g When that neighbour calls you or you call that neighbour or the neighbour visits your furniture store and expresses an interest in buying furniture from you, this process is called Opportunity.
To learn more, see this trailhead module
https://trailhead.salesforce.com/content/learn/modules/admin_intro_opptys_leads
Leads - People who is interested in your company to do business with or involved in a business which your company can offer to him. Yet, but have not qualified them. Unsure if they're going to buy from you. People you don't have a relationship with yet.
For example: Visiting cards which you get on conference or trade show.
Leads converts into Contact and Account
Contact - Someone you have a business relationship with, someone you know. Possibly has bought from you in the past.
Account - A business entity. Contacts work for Accounts.
Opportunities - Sales events related to an Account and one or more Contacts.
Opportunity is when you had a discussion with a contact and you think yes there is some connection between your offerings to the person you talked with. You create an opportunity. Opportunity is basically putting together
You can not create an Opportunity without converting a lead into Account and Contact.
Hope this helps you!
If my answer helps resolve your query, please mark it as the 'Best Answer' & upvote it to benefit others.
Thanks
Varaprasad
@For Salesforce Project Support: varaprasad4sfdc@gmail.com
Salesforce latest interview questions :
https://www.youtube.com/channel/UCOcam_Hb4KjeBdYJlJWV_ZA?sub_confirmation=1
Understand the relation:
A sales lead is a set of contact information for a person or business, which could somehow facilitate a future sale.
Typically a lead will be a single person at a business who is looking to purchase a service or product you offer.
A lead may or may not be the person or entity who will eventually make the purchase, they may be an adviser, a friend,
or a person without decision making power. The one consistent attribute of every sales lead is that it is somehow related to a potential sale.
An opportunity is also an object which represents a potential deal, but this specific deal has met certain criteria which indicate a high value
to the business, or a high probability of closing. This is where the differences between sales processes emerge.
Since every business has a different set of criteria which determine how qualified a lead is, each business will consider a lead qualified at a different stage.
Hope this explanation is helpful. Mark it as solved if you get help from this.
Thanks.
Ajay Dubedi
When you post questions, please elaborate, rather than being brief. Where possible give examples or put screen shots.
That way community members don't waste time writing explanations.
Varaprasad, Ajay and me all interpreted your question in the same way. This means, the way you ask questions needs to be improved. It's benefiacial to you as you will get accurate and faster responses.