Aim small – Miss small
Describe target market
In our world that holds inclusion of everyone as a psudo-virtue, the impediment to selecting a target client is that designating a specified focus is a deselection of everyone else. The reality is that you are only selected a focus of attraction – not parameter of inclusion. A target client doesn’t mean you refuse to consider clients who are outside of your niche. It does mean that you clearly describe the characteristics that separate your target from everyone else, and that you articulate why you are the best option for that client. Designation of focus doesn’t mean exclusion. If you aim at everything you hit nothing, even though you can lie to yourself by defining your intended target after you see what you hit. A target client is merely a focused description; designating an optimum fit.
***QUICK NOTE OF EXCEPTION***
There are often auxiliary target clients who are not the focus, but should be recognized when encountered. If there are certain products or services that have a quick close timeline (or possibility of automating the entire sales cycle); when someone’s interested in that product or that service ask the closing question upfront, direct them to where they can solve the problem without you—and move on. Many times this type of ‘sale’ is a wonderful self-funded lead generation channel.
It is deliciously tempting to describe target clients that you wish you attracted and closed, but up till now… you have not. Design your target client around past successes that have paid you money, not wishes. To choose where you’re heading you must accept where you’ve been. Start with remembering your favorite and least favorite clients. Ask yourself:
- Which clients hold your best and worst memories? Why?
- What details do you remember about them?
- How much did you make on this client?
- Did they give any referrals or were they a stand alone client?
- If every client had to be modeled after just one deal, which one would it be?