Strategy

    The Secret to Quick Wins: Why You Should Chase Whale Projects, Not Sharks

    August 2024
    9 min read
    The Secret to Quick Wins: Why You Should Chase Whale Projects, Not Sharks
    Peter O'Donoghue

    Peter O'Donoghue

    Business Development Expert

    I ran a paid training recently for a client that has a network of consultants working under them. Many of them are new to consulting or starting a consulting business for the very first time, and many are naturally preoccupied with getting new consulting clients.


    I shared with them a mindset and positioning framework that I think can really make a difference to how successful you are in profitably acquiring consulting business - not just for your first few clients but for the lifetime of your consulting practice.


    The Most Dangerous Position You Can Be In


    Read the following enquiry I received from a B2B Consultant:


    "I help companies that don't know they have a problem with employee retention by showing them the financial impact of high turnover."


    Can you spot the problem? Let me add extra context:


  1. The consultant had limited business development expertise
  2. The consultant had limited marketing expertise and certainly hadn't considered concepts like changing existing beliefs
  3. The consultant had a small cash runway and needed to see results quickly

  4. The problem is very clear: there was very little chance he was going to be successful selling a solution to people who make decisions when they weren't even aware that the problem existed.


    Are You Chasing Sharks?


    Think of it like this. Many consultants are trying to work on a shark project.


    The Shark Project Has No Movement


    The shark project is laying inert on the ground. There is no forward momentum and it's going to take an incredible amount of energy to lift that shark off the ground and get into motion - especially if it doesn't want to move.


    Think of it like you trying to originate a brand new project in a company that isn't aware they have a problem or haven't already prioritized it as a problem to solve.


    The Shark Has Attention


    The shark's inertia has already attracted some attention from other little sharks. They've already started attaching themselves to the bigger shark looking for their pay day.


    Now while you are trying to get it in motion, you'll be fighting off the other smaller sharks who are fighting to keep you from destroying their status quo.


    What is the Alternative? The Whale Project


    The whale project has momentum. It is already in motion. The whale is going somewhere and all you have to do is:


    1. Identify where the whale is going

    2. Get yourself positioned ahead of the whale

    3. Show the whale you can help it get there faster, cheaper, or with less risk


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    Why Whale Projects Work Better


    They're Already Approved

    Someone has already identified the problem, built the business case, and secured the budget. The project is happening with or without you.


    There's Urgency

    Because it's approved and has momentum, there's a timeline. This creates natural urgency to find the right solution.


    Less Education Required

    You don't need to convince anyone there's a problem. You just need to position yourself as the best solution to their known problem.


    Faster Time to Cash

    Because the project is already moving, the sales cycle is dramatically shorter. Instead of 6-12 months to educate and convince, you're looking at 4-8 weeks to close.


    How to Find Whale Projects


    Method 1: Ask Directly


    In your conversations with prospects, use these four questions:


    1. "What projects have been green lit for the next 6-24 months?"

    2. "How confident are you that they'll hit their objectives?"

    3. "What are people worried might go wrong?"

    4. "What happens to you personally if they don't succeed?"


    Then follow up with: "If I had ideas to help reduce those risks, would you be open to hearing them?"


    Method 2: Monitor Company News


    Watch for:

  5. Press releases about new initiatives
  6. Executive hirings in key areas
  7. Funding announcements
  8. Regulatory compliance deadlines
  9. Technology migrations

  10. Each of these signals a whale project in motion.


    Method 3: Leverage Your Network


    Your existing clients and contacts already know about whale projects in their companies and industries. Ask them:

  11. "What big projects are happening in your company right now?"
  12. "What are your competitors working on?"
  13. "What initiatives are consuming the most resources?"

  14. The Positioning Shift


    When you spot a whale project, use this transition:


    *"Steve, sounds like you might be facing some challenges around [the pain point] and that could lead to [bad consequence]. I might have some ideas that could mitigate the risks on this project. Would it make sense if I go away, put my thinking cap on, and come back with some thoughts? How does next Wednesday at 3 look?"*


    Nothing revolutionary here. But it works because it fits into the client's existing priorities rather than trying to create new ones.


    The Bottom Line


    Stop chasing sharks. Start chasing whales.


    Sharks require you to create momentum from zero. Whales are already moving - you just need to position yourself in their path.


    This isn't about being lazy or taking the easy way out. It's about being smart with your limited time and resources. It's about understanding that as a consultant, you don't get paid for how hard you work - you get paid for the value you create.


    And the fastest path to creating value is helping organizations succeed with projects they're already committed to, rather than trying to convince them they need something new.


    This whale-hunting strategy integrates perfectly with productised offers and business development systems. Need help implementing this approach? Our coaching programs and fractional BD director services can guide you.

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