Complexity in the sales story is a common flaw of young companies as they are growing. You’re afraid to turn away any business, so you try to do almost anything that any prospect wants you to do. Big mistake! First off, it doesn’t work, and it will cost you money and anguish before you finally learn that hard lesson.
I have several clients whose products and services are demonstrably better than those of their competitors, based on independently verifiable measures.
Nevertheless, these clients do not always win their deals—in fact, when we first meet them, they are typically losing out on many deals where they offered a superior solution.
Why is that? How can that happen? If you base your sales strategy on “we’re the best,” you’re bound to lose.
Whale Hunting is a great strategy to grow your company fast. But even fast-growing companies make on average 80% of their revenue from existing clients. So it’s much more important to keep existing whales than to hunt for new ones. How do you find out if there is a high probability that existing whales will work with you next year, too?