In business your clients are bombard with hundreds of messages everyday – yours is just one of the many. If you try to talk to too many people nobody will hear you properly.
Imagine that you are standing on the proverbial milk crate in the local business square. You have a loan hailer or megaphone and you are surrounded by people, 360 degrees around you.
Now the people standing right in front of you are hearing you loud and clear. The ones to the either side are hearing you ok. The ones on your rear left and right are getting every third word and the ones directly behind you can’t hear a thing.
Where are your ideal clients? Hopefully they are right smack in front of you. if not you are shouting at the wrong people. If they are directly behind you – then you are really in trouble. In many businesses I work with they are usually to the left and the right a little. They are there because they are not as noisy as the ‘close but not quite’ clients. You know these guys, they look like they will be great but often want changes or extras that eventually mean that they are less or unprofitable. They are also the most vocal about what they want and what you are not delivering. Remember the 80/20 rule – 80% of your work will come from 20% of your customers but also 80% of your headaches will come from 20% of your wrong customers.
So who is your business shouting loudest at? Remember based on this analogy (and in real life as my kids often say) you can’t talk equally to all people so make sure that you are talking the loudest and clearest to the right ones.
This is what I mean when I say ‘orientate your business towards your ideal clients’. Will you get the wrong ones – absolutely but make sure that you don’t make changes or add things based on the wrong clients or you will have turned your loud hailer away from your ideal to that other less desirable group.
In business, especially small business you need to the best. True?
I believe that you have to be the best – option for your clients!
If you are not then they won’t buy from you. This clearly does not mean you have to be the biggest or the price leader. What it means is that for your clients, the people who get your value proposition(s) and fit your target, you must be their best option in all aspects including value.
I talk with business owners often about orientating their business towards their ideal clients and not towards their last client. This is the case here, the way you design and develop your products or services needs to be aimed squarely at the ideal client. They will love it, i.e you will be their best option and the other clients who are not as ideal will still like it hopefully enough to buy it.
So when you think about being the best at things in your business make sure you are looking at your ideal clients and not solely at your competitors and what they are doing because they hopefully are chasing a different client.
Last week Converge had a very special guest – John Warrillow author of “Built to Sell”.
Built to Sell was one of the top selling business books in the US in 2011 and the Converge Members got a private 3 hour session with John last Friday. Across the groups we have discussed John’s book and ideas extensively and many members have made significant positive changes to their businesses as a result. So it was great to get an opportunity to meet with John in the flesh and discuss his experiences. For more photos check out the Photo Gallery on our site.
If you haven’t already read it – then make sure you get a copy of Built to Sell
John is also the creator of the Sellability Score which you can complete at no charge on our website
A fabulous sunny morning at Beautiful Balmoral Beach. Our topic today was Mindfulness, what does it mean, and how can it enhance our work/business. Andrew Hurrell surprised us with a box of Lindt chocolates, and proceeded to guide us through an exercise in Mindful Eating – feel the chocolate in your hand, smell it, take a bite, let it melt on your tougue, feel the texture, the taste……….you get the picture?? Quite a way to start your morning, let me tell you. Our discussion, while being aimed at our businesses, covered Pat Rafter, NBL, baseball, the Waratahs, Shane Watson, the Australian swimming team….oh and yes, a bit about our businesses.
Try it, I think you’ll enjoy it.
First photo of Converge Fitzroy. Off to a great start
Client or customer targeting and segmentation are key aspects for any successful business. The issue is that as business owners we are often reluctant to limit our options in terms of potential clients professing (and convincing ourselves) that we can service a larger group than we should or can.
This is an reasonable concern but understand that very few businesses can work with ‘everyone’ and almost no small businesses. Failing to pick your mark will make it hard to build a profitable sustainable business. Of course you need to make sure that you pick a market that has longevity and growth.
This week we looked at a Customer Empathy Map which helps to you build your client personas and go deep on truly understanding your clients/customers – not just thinking that you understand them.
The question came up (as it always does), “how do I know who my ideal client or customer is?”
Well there are numerous metrics you can use and analysis tools but for a quick assessment use this litmus test – “which client that if 100 more exactly like them came into your business, would make your business the most profitable and enjoyable,?” This client then becomes your first persona or your ideal client.
This is not saying that you don’t deal with all of the other clients but you want to orientate your business, marketing, promotions and your time towards these clients and slowly away from the others.
Likewise when you are looking at which clients to sack (yes you should sack clients regularly) change the question to – “which is the client(s) that if 100 more just like them came into the business I would be bankrupt, insane or both within the month?” This is the first client you sack, when you can afford to sack them.
Note – if your business is young or in need of cash-flow then you are likely going to take any client that comes your way. I understand that and you need to keep the revenue coming in. Just don’t make it s comfortable for those wrong clients that they stay or worse still bring all of their friends.
First photo from the new and improved North Sydney group (formerly our Lane Cove group who have moved).
If you run a business in the North Sydney area and are interested on coming along please contact Granville on 0414 880 374.
Loving the beard…..
Great to see some new faces. Welcome David and Niten.
Thanks also to Ken who facilitated by all accounts and great topic & discussion .
Of course a huge thank you to Grant for the annual photo
Manly has kicked off this week (I know for the second time) with a great group (2 missing from photo). Meeting fortnightly at the 3 Beans Cafe is you want to join us for a look?
We are officially started in Chatswood. Eva, Geoff and Angus are the first cabs off the rank.
Group meets on Wednesday’s at Cafe Ena if you are a business owner in the area and want to tag along
Page 1 of 1612345...10...»Last »