If you could wave a magic wand and work with any client you wanted, who would they be and what would your business look like? It’s a fun exercise and gets the juices flowing again if you have been feeling less motivated in your business lately.
Let’s begin with your current client base. You may want to create a report of customers that you had in 2012 and list them by revenue collected. Who are your top revenue-producing clients? Are they easy to work with? Do you love the work you are doing with them? If so, you may want to find out a little bit about the type of client you enjoy working with so that you can find more of them in 2012.
Are they male or female? In a particular industry? Have a particular personality trait? Enjoy the same hobbies you do? Have kids? Are they from your alma mater? Do they live in a certain neighborhood that you enjoy?
Look to see if your top clients have characteristics in common. You are beginning to make a picture of who you best work with.
The questions are endless, and you may need to ask quite a few of them before you stumble on what your top clients might have in common. Perhaps they are all dog lovers, pilots, or football fans. Perhaps they have all been in business for less than five years. Perhaps they are all transplanted from the south. Once you see the connection, you will have some freedom and a clear direction to find more people just like them.
Ideal Product/Service Mix
Also take a look at what services you like to deliver best. Once you’ve been in business for a while, you may have some work that’s not your favorite, but you keep doing it for the money. In 2012, think about how you can proactively attract clients that need the type of work you love to do. Work that challenges you, is interesting, and is profitable will keep you from burning out. Plus, it will help your entire business and your other clients to seek clients that energize you because you will be happier.
Start by creating another report that shows you revenue by service or product line. What would the ideal mix be if you could wave your magic wand again?
The intersection of your ideal client and your ideal service/product revenue mix is the sweet spot you want to aim for this year.
It’s a simple exercise, yet a very powerful one. Wave your magic wand and think about what would really fulfill you as a business entrepreneur. Then take the first step to creating a business full of the ideal client and ideal work of your dreams.