Go to Settings > Sales settings.
This is where you can set up:
Pipeline stages
Lost reasons
Default deal probability
Pipeline stages
The stages in your sales process. You can reorder them or add new stages here.
Lost reasons
Set up lost reasons so that you can say why precisely you lost a certain opportunity. Some typical examples would be:
We're not the right fit
They decided to go with another tool
We were too expensive
Timeline was unrealistic
Default deal probability
When creating a new deal, this is the default probability that will be assigned to it. You can read more about deal probabilities here.