I was working face to face with some wonderful Personal Mentoring Clients a month or two back who own a Digital Agency in Sydney. They are really smart at what they do and with me around; their goal is to grow their business.
One key issue they were up against was having lots of low value meetings and spending too much time on clients that don’t spend much / any money.
It was creating key issues in that they could take that time to bring in more of the right clients and I shared the ‘Value Target Model’ which totally changed their thinking. Just a month later they are making more money and they love me (and I love them).
In short, when you get a lead or are working with someone you want to work this out very quickly and rate each client. We like the ‘Value Target Model’ which applied goes like this:
- Red Bulleye Eye Client: They love you, spend lots of money with you, you love them they have great results and you’re all friends.
- Yellow Good Client: They love you and spend good money with you. Similar to the reds, just don’t spend as much. Great people.
- Green Entry Level Client: They love you and are good people with the right attributes. They may not have a lot of money, but as they rock you still support them.
- Black NO GO Level Clients: They are people you just don’t want to work with. Be it poor ethics, manipulate you, don’t value you. Just don’t do it. These are the clients you fire / never work with.
My advice and thinking? Focus on the Red with your Marketing & Sales and enjoy the Yellow & Greens as they come to you. Never work with the ‘Black Level NO GO’ clients though. It will send you backwards.
Love your work, thank you to the great client, enjoy my diagram attached and stay awesome friends!