Business leaders tend to make one critical mistake in implementing their Strategic
Plans. They build growth plans without understanding their Ideal Client.
Understanding that Ideal Client can be tough.
The Ideal Client has a dire need for your products and services, and you can deliver
exceptional results that resolve that dire need. In addition, the market size for that Ideal
Client has to be large enough to support your growth plan.
In other words, who depends – or could come to depend – on your products and
services? Can you repeatedly deliver exceptional results to that target group? And are
there enough of those clients to profitably grow?
If yes, you can create a market niche that gives you a competitive advantage, pricing
power and a path to growth. If not, your growth will stall, and your efforts will become
sub-optimized over time.
If your past growth rates or profitability have had significant swings, stalled, or worse
declined, chances are that you’ve become distracted by all customers, without
understanding or honing your focus and energies toward your Ideal Client.
Sales and Marketing resources should be focused to attract and retain Ideal Clients that
meet your target profile. You begin to say NO to revenue growth opportunities that don’t
lead to strategic profit growth. Continuing to focus on any customer who comes along
leads to business complexity, additional cost, lack of pricing power, lower profitability
and slower revenue growth – the exact opposite of your strategic goals.
Finding Ideal Clients creates a sustainable growth rate pattern and exceptional
profitability within uncontested market segments, and helps you stay strong in the face
of competition.
Click here to learn more about how to make your 2023 plan a building block
to your strong future!
