Written by Sean McPheat |
From time to time you’ll close a monster deal!
With this you’ll most likely hit 25% of yearly sales target with one piece of business.
But do you continually go after whales all of the time at the expense of smaller fish?
My advice is that your pipeline should consist of both.
The reason being is that to bag a large deal normally takes you a lot longer time to close and they take up a lot of your attention usually at the expense of the smaller deals.
That’s not to say that you should not go for them, but you should have both in your pipeline.
For example, to get the deal which made 25% of your yearly target it may have taken you 60% of your time to get it so it puts you under pressure then to make up the difference.
Make sure that your prospecting strategy includes approaches to big fish as well as small fish.
The big fish will give you a fantastic feast but after a while you’ll go hungry. Whereas a steady supply of little tiddlers interspersed with the odd whale will keep you full all year round!
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Originally published: 21 November, 2008