Similarities (& Differences) Between Whale Hunting & Strategic Planning

This article will continue to address the currently popular book, "Whale Hunting: How to Land Big Sales & Transform Your Company." Previously outlined was a brief synopsis of the approach of aggressively pursuing large account (Whales) acquisition & development.

As I use and study several of its methods and perspectives, it becomes more & more apparent that there are many similarities between Whale Hunting(WH) and Strategic Planning(SP). In fact, one complements the other.

Both SP & WH are processes very specifically defined, requiring a commitment from the top, and both require significant data gathering. Similarly, knowing yourself and your competitors is required by each. Both require extensive knowledge of your potential and existing customers, although WH demands a more meticulous effort.

Each touches every area in the organization, but again, WH is more thorough , and stresses understanding & contribution from literally everyone. Again, subjectively, I would say that SP at least begins a bit more internally based, with taking stock of who we are & where we've been, while WH is driven by the Whale, around which everything revolves.

The internal & external scanning of SP is similar to the target filters of WH, but here again, WH takes it a step further with weighting & analysis. At the same time SP, if it chooses to, can get very detailed in the gathering and analysis of data.

One of the most congruent approaches is in the identification of the company's unique competitive advantages. This understanding of core competencies, both current or perhaps desired, is crucial to the success of both. And both realize the importance of understanding your culture & changing it if necessary.

The most obvious dichotomy is the "all or nothing" attitude of the WH. Although it is not as extreme as it seems (existing & smaller accounts can still be pursued), it definitely is more intense. SP is a bit more about consistent performance over time yielding the results we want.

Another difference is that of changing the game; it is critical to WH, whereas with SP, it's a bit more important to understand and play the game. Additionally, there are more roles to learn with WH than with the more traditional approach of SP. Finally, WH does not tolerate incremental growth where SP does.

Areas that at least somewhat differ are the potential of customers, how we actually grade each actual & potential customer, & a smaller team approach with SP versus the wider team (the entire company) with WH.

When all is said and done, OR, at the end of the day, they each offer the other a great deal. One really does complement the other!