Lead : A lead represents the initial stage in CRM where a potential customer is introduced to your product or service. This is a critical step in customer relationship management as it sets the foundation for future interactions.  

Opportunity : An opportunity identifies a qualified lead with the potential to convert into a deal. In the best CRM for small business, this stage helps prioritize efforts where there's a higher chance of closing the sale.  

Quotations : A quotation outlines the estimated costs for the product or service the prospective client is interested in. Efficient CRM systems ensure quick, accurate quote generation to enhance customer trust and speed up decision-making.

Sales Order : This is the final step in the CRM workflow, where the quotation is accepted and a sales order is issued. It formalizes the transaction and is essential in maintaining transparent and efficient customer relationship management.