The Rabbits: the small, readily available catch where a fair number of them are needed in order to survive. The Deer: bigger in scale and a decent feed. The Bears: large, requires more guts, but they are a thrill to chase. The Elephants: few and massive in size, the risks are high and the gains are great. Who makes up your client profile? Are you hunting rabbits or elephants?
At Sandler Training we stress the importance of divervisying your clientele. Don’t put all your eggs in one basket because the organizations who work solely on elephants – starve once the elephant is gone. A simple rule to follow is the largest client should make up no more then 25-30% of the sales revenues.
Why? It’s the risk factor. Based on human instincts, we’re able to take risks on a rabbit because the risks are low, but those same risks are much harder to take with an elephant. Psychologically, you might be more afraid of the elephant. So, who do you go after? The key – diversify!
Once you become comfortable taking on the bears, it may make sense to hire someone else to take on the rabbits. Once they are more comfortable with the rabbits, encourage them to go after the deer while you continue to focus on the bears and elephants.
When prospecting for your next client think about your prospecting plan and who is in your pipeline. How long have they been in the pipeline? Are they still in the game if they’ve been there for six to seven months? How about two to three months? Probably not, individuals and organizations who buy, typically buy within the first 30 days.
Whichever animal you may be working with, remember to only present solutions that match their pain. People don’t buy benefits and features, they buy solutions to their problems.
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