Custom properties allow you to store data that is specific to your business. HubSpot has a wide variety of default properties that are consistently tracked regardless of your business (e.g. Company Name, a Contact's email address).

After clicking on the Settings gear, navigate to Properties under Data Management on the left hand side:

Here you can create any custom properties you like. You can always come back to this later. We suggest creating 2 properties on the Deal object - a Loss Reason field (which is a dropdown) and a Loss Reason Details field, which is a text field. This allows you to track and report on common reasons you're losing deals.

Our suggested dropdown values for the Loss Reason field are listed below: