Don’t Put All Eggs In One Basket

Biggest sales mistake? Putting all your eggs in one basket.

Perfect example: Covid.

My company in Portugal did customer service translation.

Travel was our strongest ICP. Then the world shut down. 

A colleague lost her entire pipeline.

I lost a deal with the largest airline in Europe.

Gladly, I had started to invest in retail companies, a long-shot at the time. 

I quickly saw the potential to support their move to e-commerce.

That year, I became top AE in Europe. In 2021, top AE globally.

Here’s the kicker: Had I stayed, I would’ve had to adjust again.

In 2022, these accounts began to plummet due to changing consumer behavior and the comeback of offline businesses.

That's why diversifying is key, especially in good times.

It's tempting to bet it all on red after a big win, but remember:

Regression toward the mean is real.

My previous company implemented a company-wide strategy similar to Pareto, that is also effective for sales:

Trees: Strong ICP fit and traction - 70% focus

Plants: Growing accounts, first traction - 20% attention

Seeds: Potential, but long shots - 10% effort

How well-balanced is your account portfolio and pipeline?