The first stage in setting up sales funnel reporting is to understand your sales process fully (perhaps using a technique like flowcharting). While sales processes are often quite similar from company-to-company, there can be points of difference depending, for example, on the size of the order and the consequences to the client of making the wrong purchase decision.
Dave Woodward was at the ClickFunnels semi-annual partner meeting and totally screwed up. He was explaining a critical concept and without any context or backstory ended up losing the attention of his partners. Russell Brunson came in to save the day by providing the backstory and context. The context brought things back around and unified the group. As embarrassing as this was for Dave it was a great lesson. A lesson he wants to make sure others do not have to learn on their own.