World-Class Strategies for Picking the Right Clients

Follow along on Twitter#IdealClients

Yoseph West

Choosing clients is personal.

Yoseph West

#IdealClients

Why Pick Clients?

Yoseph West

#IdealClients

The best clients require the least attention, and pay the most.

Yoseph West

#IdealClients

Standardize tools and focus on a niche that fits you.

Yoseph West

#IdealClients

Build a practice you’re proud of and work with great people.

Yoseph West

#IdealClients

Defining the Criteria

Tom Maxwell

Tom Maxwell (@ignition_tom)Head of Customer SuccessPractice Ignition

#IdealClients

This is a structure to help you decide what’s important.

Tom Maxwell

#IdealClients

Tom Maxwell

Three categories for identifying ideal clients:

#IdealClients

Tom Maxwell

#IdealClients

Tom Maxwell

#IdealClients

Tom Maxwell

#IdealClients

Tom Maxwell

Most professional service providers settle for one category

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Tom Maxwell

Strive for clients that fit at least 2 categories

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Tom Maxwell

If you find all three that’s your unicorn!

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Where you are in the business life-cycle might impact your decision.

Tom Maxwell

#IdealClients

Tom Maxwell

Now we have a structure, we need to determine a process for choosing

ideal clients.

Tom Maxwell

#IdealClients

Section 3: How to determine if someone is an ideal client.

Tom Maxwell

#IdealClients

Step 1: Determine your priorities.Step 2: Identify the key indicators.Step 3: Build a discovery process.

Tom Maxwell

#IdealClients

Step 1: Determine your priorities.

Tom Maxwell

#IdealClients

Step 1: Determine your priorities.

1. Rank the three ideal client categories in terms of importance to you.2. What do you want to get out of this business?3. Who are your favourite clients and why?4. What stage in the business life cycle are you in?

Tom Maxwell

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Step 2: Identify the key indicators.

Tom Maxwell

#IdealClients

Step 2: Identify the key indicators.How do you know if a client is a high margin client?

Questions to ask the client:

•  Do they have a business/strategic plan?/What are their goals?

•  do they really know what they need?

•  Are they aware of their business pains?

•  Is their cash-flow impacted by seasonality?

•  Are they open to fixed fee billing?

•  Are they willing to pay upfront?

•  what does their revenue look like?

Tom Maxwell

#IdealClients

Step 2: Identify the key indicators.How do you know if a client is a high margin client?

Questions to ask yourself:

•  How much work is there for you to do?

•  For repeatable work, can you automate it?

•  Will there be significant COGs to complete this work?

•  Can you see the potential for future up-sells?

Tom Maxwell

#IdealClients

Step 2: Identify the Key Indicators.The Work Itself:

•  What industry are they in? Do they fit in your niche?

•  What work needs to be performed?

•  Have you standardized/categorized your services?

•  Do you actually like doing this work?

•  Can you be proud of the work you are doing?

•  Do you have staff members that like doing this work?

•  Is this service/work sustainable on a short term basis? (i.e. for a particular client)

•  Is this service/work sustainable on a long-term basis? (i.e. will it become obsolete?)

Tom Maxwell

Step 2: Identify the key indicators.Interpersonal:

•  how quickly do they reply to communication? - send a survey, what is their response time? - how quick are they to respond to requests for documents?

•  Are they open to non-traditional communication methods? - (i.e. video calls if they are not local)

•  What is their current tech stack?

•  Are they comfortable with tech?

•  What is their Personality/behavioural type? (hint: research the DISC profile)

•  Are they comfortable making tough and/or fast decisions?

Tom Maxwell

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Step 3: Build a Discovery Process.

Tom Maxwell

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5 stages to building a discovery process.

Tom Maxwell

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Stage 1: Document your process internally.

Tom Maxwell

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Stage 2: Use it the same way every time.

Tom Maxwell

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Stage 3: Review your process. Test. Iterate. Repeat.

Tom Maxwell

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Stage 4: Have separate questions/scripts for each scenario in your sales cycle

and customer lifecycle.

A.  Initial call - High level identifiersB.  First sales meeting - Deep dive into each categoryC.  First customer review meeting - Did you get it right? If no, fix it!

Tom Maxwell

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Stage 5: Have somewhere central to document results (CRM). Set a pass grade for your clients.

RESULT = Does your client satisfy at least 2 of the 3 categories?

Tom Maxwell

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BONUS TIP:

Annual customer reviews with your clients is your opportunity to completely re-assess your priorities and:

•  introduce additional services to your ideal clients.

•  get rid of the clients you no longer want to work with.

Tom Maxwell

#IdealClients

To Recap

Step 1: Determine your priorities.Step 2: Identify the key indicators.Step 3: Build a discovery process.

Tom Maxwell

#IdealClients

Creating a Foundation for Client Success

Yoseph West

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Set expectations and set clients’ up for success.

Yoseph West

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Train them on technology and process.

Yoseph West

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Clearly define your relationships from the start.

Yoseph West

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Remove friction throughout the client experience.

Yoseph West

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Yoseph West

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Tom Maxwell

Max Walsh - Territory Manager Practice Ignition

Thank You

Tom MaxwellYoseph West

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