Monday, February 06, 2006

Elephant Hunting:

In sales, the term "elephant hunting" is typically reserved for a salesperson that only goes after HUGE deals.

Elephant Hunters, in general do not want to waste their time, trying to hunt for "game animals" - or mid sized prey -- they always WANT the big FISH.

I have been there. I have been guilty of it.

There is a upside here, but also a HUGE downside.

The upside is that you have a part of your sales team landing MONSTER deals, and when the market is good, and the deals are coming in -- everyone is happy. Elephant Hunters are celebrated, happy, and positive.

But, when the market SLOWS DOWN - there are FEW to NONE elephant "prospects" (clients with monster budgets) out there to hunt for -- and ultimately close. You end up relying, on the small, to mid size prospects to keep you going. Without their big deals closing, your Elephant Hunter salesfolks are down, negative and gloomy. This can have a effect on your organization.

I have ONE word for the "Elephant Hunter" - (or their managers)

*** PIPELINE ****

Pipelines, (or new prospects that are in the sales funnel) need to be managed closely.

On average, Elephant Hunter salesfolk HAVE LESS IN THEIR PIPELINE AT ANY GIVEN TIME, because they believe they have to do LESS ACTIVITY to earn as much, if not more than their peers who hunt smaller, and work harder.

This may be true.

But, be aware -- even Elephant Hunters need SPURTS of activity, to sustain their ability to land deals. That is, a kick in the pants once in a while to fill up the funnel - so the next few months can be healthy.

Remember, sales and prospecting are different. Elephant Hunter prospecting, is going out with a MONSTER gun looking for clients.

And, sometimes when your weapon for hunting is too big, you miss all the mid-sized deals, (prey) that could have been in the pipeline all along.

Elephant Hunters, keep landing the big deals, but, keep multiple sized guns in your holster when hunting - it makes for a fresher meal once in a while.


Anonymous said...

It cannot have effect in reality, that is what I think.

9:36 AM  

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