Ideal Prospect

If you are a new business, you may not have the data necessary to dial in on your ideal prospect. Imagine what that ideal prospect would look like in an area of business where you are passionate. Allow your passion to define your daily activities, and you will never work another day of your life. Work will be fun! After you land some accounts, you can begin to tailor your prospect profile to be what you wish.
If you are an existing company with a book of business, you can use the 80/20 rule. It’s that simple. Look at your book of business and identify the top 20% of your clients. Identify the following:

• Why are they in the top 20?
• How much revenue do they drive?
• How much service work/expense do they drive?
• How did you get in front of them?
• Is there a problem specific to their industry that you can meet?
• Who can they introduce you to?
• How many employees do they have?
• What is their annual revenue size?
• Have you gotten a written testimonial from them (online or otherwise)?

Think about all the information you got on your ideal clients. That was in a matter of a couple of minutes of thinking it through. This exercise doesn’t need to get completed in a one-off setting. Conduct this exercise at one of your sales meetings with your team each quarter. Evaluate the top 20%.