Excellent observations. I worked in Sales for a hotel several years ago, and we had a Cash Cow situation with one of our clients, they were big and needy and “the only game in town”.
One morning in the sales meeting, our GM told the sales team that he wanted us to stop working that client. He said, “Imagine that company X were to disappear tomorrow. How will you make your goal and get your commission without them?” It was prescient advice, as about four months later company X cut way back on their meeting budget. We were the only hotel in the area that had other clients in the pipeline to replace that lost business.
Cash Cow
Excellent observations. I worked in Sales for a hotel several years ago, and we had a Cash Cow situation with one of our clients, they were big and needy and “the only game in town”.
One morning in the sales meeting, our GM told the sales team that he wanted us to stop working that client. He said, “Imagine that company X were to disappear tomorrow. How will you make your goal and get your commission without them?” It was prescient advice, as about four months later company X cut way back on their meeting budget. We were the only hotel in the area that had other clients in the pipeline to replace that lost business.