Anthony Iannarino reminded me of the importance of not putting “all my eggs” in one prospect’s basket.
Hedging is an often used term in the financial world. Traders who seek to reduce the risk of their trades will hedge their trades with an opposing position.
Longterm buy and hold investors who do not want to give up their positions during a downturn will also hedge their position with a short term opposing position.
Anthony applies this term to the selling profession by reminding us:
We cannot control the actions of decision makers.
We can’t control if they will buy, when they will buy or how much they will buy.
But we can control how many other prospects we have in our pipeline. The idea of hedging if one prospect says no, particularly a prospect you have invested much time and effort in selling… that your sales career will still prosper because you have a pipeline of other prospects who can say YES.
I’ll add one additional benefit to hedging:
The more prospects you have in your pipeline, the better you will sell!
Why? First, prospects are not drawn to needy salespeople. Second, you have more access to your inner resources to do your best selling when you don’t “need” the prospect to buy. Third, prospects are drawn to confident salespeople.
The takeaway: A full pipeline of prospects creates confidence, better selling and a more productive sales career.
Is your prospect pipeline filled with the prospects you want to sell to?