This is the final installment of a three-part series by D2 CEO Travis Chaney on attracting ideal clients.

HERE ARE SOME QUESTIONS TO HELP YOU BUILD YOUR IDEAL CLIENT PROFILE:
Who are the elephants you want to attract?
What are the pains your elephants have? How do your products and/or services ease the elephant’s pain?
What does the demographic profile of your elephants look like?
What signals and messages do you need to send out to attract the elephants?
What is the most efficient and effective way to distribute your message to the elephants?
How much do you need to earn financially on each elephant to be profitable and meet your financial objectives?

Image result for herd of elephants

THE COMPARISON OF MICE AND ELEPHANTS DOESN’T STOP AT YOUR CLIENTS.
As your business grows and you build a team, make sure you are building a herd of elephants. Elephant team members show up on time, say please and thank you, do what they say they are going to do, carry a passion for your business, and have the capacity to grow with you. Elephant team members attract elephant clients – mice team members attract mice clients. And make sure you see yourself as an elephant. Remember, similar species attract like species.

This is part of two of a three-part series by Travis Chaney on attracting clients. Read part one here.

HOW DO YOU GET RID OF MICE?
First, do your best not to take them on as clients. If you begin to attract a nest of them and the symptoms of unproductivitis begin to show, I suggest you call the exterminator ASAP to get rid of them. In other words – fire them! Or at least serve them differently so your company’s resources are not tied to them so strongly. Cure your disease immediately or you may never escape the clutches of these tiny critters.
If you conduct thorough research on your ideal client, you can build a positioning, marketing and sales plan to attract your ideal clients, and if executed with great precision and tenacity, elephants will come your way.

ELEPHANTS REQUIRE MORE WORK TO ATTRACT THEM TO YOUR BUSINESS.
However, the financial and psychological rewards are much greater. Ironically, elephants are difficult to acquire even though you know exactly where they are located. For instance, your new business may provide technology solutions for companies. Taking a stroll around town or through the phone book you will locate several potential elephants that could benefit from your solutions. Hunting elephants requires a bigger gun with high powered ammunition. In business, the bigger gun could represent a large menu of services or products versus a smaller lineup. The ammunition embodies the messages you are firing to bring the elephants to you. Superior magnetic messaging will carry the language and solutions that draw elephants to you.

elephant standing in field

WHY ONLY WORK WITH ELEPHANTS?
Elephants live longer, typically carry larger streams of revenue, and carry a higher lifetime value. Lifetime value is the amount of revenue your clients produce annually times the amount of years you plan to be in business. For instance, if you earn $5,000 per elephant annually and the mouse earns you $250 and you plan to be in business for 20 years, the elephant is worth $100,000 over your career as opposed to $5,000 for the mouse – a 5,000% difference.

Elephants respect your time and seek out your advice. They believe in long-lasting relationships, bother you less and value you more.

REMEMBER: ELEPHANTS ARE SCARED OF MICE AND YOU SHOULD BE TOO.
I know it’s counterintuitive to think you can hold out for the elephants and say no to the mice. However, successful organizations and professionals have no problem with saying no to mice. The quicker you learn to say no to mice, the better off your business will be.

This is part of one of a three-part series by Travis Chaney on attracting clients.

In his book “The 21 Irrefutable Laws of Leadership,” John C. Maxwell discusses the Law of the Inner Circle. Simply put, you become who you spend your time with. In business, the same rule applies when it comes to building a client base. As you think about your business, developing a clear picture of who you want to attract as clients is critical to success at any stage in business.

Image result for mice and elephants

WOULD YOU RATHER ATTRACT AN ELEPHANT OR A MOUSE?
Positioning, marketing and sales is the lifeblood of any business. In the beginning phase of your start-up operation, you probably spent the majority of your time, energy and resources in the pursuit of clients. Knowing your potential clients’ spending habits, pains, needs, where
they live, socialize, work, exercise, shop, their age, gender, your desired profit margin, etc. is important in your efforts to attract the ideal clients for your company. Developing an ideal client profile for your products and services before you begin to market and sell increases your efficiencies while ensuring your focus targets the clients you most desire. All of your
positioning and marketing efforts should be directly connected to attracting your ideal client.

If you were to ask any business owner if they were to start their business all over again what they would do differently, most would answer they wouldn’t work with one certain type of client. In the initial phase of launching your business, it is natural to take any and all clients. It is very easy to get caught up in the emotional rush of going out on your own. The fear of the unknown will drive you to say “yes” to just about anybody who is interested in your products and services. Over time, successful mature companies learn the financial rewards of spending time with the clients who value their services most.

Who makes up that group of undesirable clients? Mice. If you are attracting mice in your business you haven’t done your homework on who is most suitable for your products and services. It doesn’t take much effort to attract mice – and once you acquire one, mice typically require more work for sales and service, value you and what you offer less, and bother you more. Mice carry a disease known as unproductivitis – a crippling disease that causes your business to lose valuable time, energy and money due to working with the wrong type of clients.
And the more mice you attract the more

Attract elephants they tend to multiply in numbers.

[This is the second part of a post on characteristics of highly successful entrepreneurs. Click here for Part 1.]

 

3. High achievers know how to effectively leverage resources.

High achievers have learned the best and highest use of their time, talent and resources. The idea is that you focus on what you can do based on what you are really good at. You perform the tasks that only you are qualified to do – the high points that drive results and hit your passion zone. On the flip side, you should know the jobs at which your team members excel so they can take the burden of those tasks off you. This reaches beyond mere delegation of grunt work to knowing exactly how your team works smoothly together and who does which jobs best.

You should also have a good understanding of when you need to reach outside your organization to make use of other resources – this could include vendors, consultants, colleagues and other trusted advisors. In short, you are a conductor bringing together the various members of your orchestra at just the right time to make beautiful music together.

4. High achievers make decisions quickly because they know who they are, where they’re going and how they want to get there.

Many entrepreneurs are equally talented in terms of the knowledge specific to their industry – financial services, heath care, construction, etc. One financial advisor, for example, may have 20 high net worth clients, while another has 100 of the same type of clients. Both advisors may know how to handle such clients and may be equally skilled in strategies that increase their clients’ wealth (and their own). The second advisor just knows how to attract more clients at a quicker rate. His advantage is in the speed with which he operates because of his certainty in what he’s trying to do.

High achievers know the values and principles that define who they are, they know exactly what they want and they are on a well-thought-out path to their goals. As different ideas and strategies emerge, they can quickly decide what to incorporate into their plan and what to leave out.

They are quick to make decisions to start something and slow to move away from the direction they set when their ideas meet challenges. Conversely, lesser achievers are slow to make decisions to start a new initiative and quick to change their mind when faced with challenges. At the end of the day, motion trumps meditation the majority of the time – so take some kind of action if you want to earn the status of high achiever.

So here’s the question:

When you look at highly successful entrepreneurs, what differences do you see between them and you? These four characteristics just might be the answer. They might be your way of climbing off the low end of the achievement spectrum and jumping on the fast track to the top.

Do you want to be at the top? Do you want to be looking up at others or see them looking up at you? Reaching that best-of-the-best level requires more than just thinking, “Oh, I wish I could be successful like her.” It requires full implementation and constant refinement of each of these four characteristics.

If you’re ready to strive for big results, centering your thinking on these four attributes can bring the motivation and traction you need. Your results will change when your behaviors change. Your behaviors will change when your beliefs change. Are you sure about who you are? Can you make decisions quickly? Are you willing to take managed risks and change quickly when necessary? Are you leveraging your resources in the best way?

Your business will truly succeed when you begin applying these entrepreneurial principles. Focus on these fundamentals and they will be difference makers for you.

Want to find out more about D2? Contact us here to set up a complimentary 30-minute consultation to find out what it will take to move your life and practice to the next level.

If you’re reading this post, chances are that you’re successful to some degree. But we all know, or at least have observed, wildly successful entrepreneurs who skyrocket their businesses to the next, next, next, next level and beyond – a level you marvel at and admire.

What’s the difference between achievers and high achievers? How do some entrepreneurs escalate their businesses to the top when they don’t appear to be any more skilled than you?

Your expertise in whatever particular industry you’re involved in is probably not that different from the top achievers in your field. The difference lies in your mindset and your level of mastery of entrepreneurial fundamentals.

Below are four key characteristics of outrageously successful entrepreneurs. Spend time developing these tenets and your success will soar as well. (We’ll cover the first two in this post and the last two in a subsequent post.)

Four Characteristics of High Achievers

 

1. High achievers process and implement change at a very rapid pace.

If your company is going to succeed, you must be ready and willing to change constantly. Wildly successful entrepreneurs maintain a rhythm of constant change. Change works best when it is planned, so once these entrepreneurs decide the direction they want to take, they are bold enough to launch themselves headfirst into the new course.

Many other changes are unplanned, so as an entrepreneur, you must develop the ability to roll with the punches and adjust on the fly. Stay committed to your vision and plan, but be ready at any time to adapt based on circumstances, new developments, and especially when faced with adversity. Flexibility is an undervalued trait, but a fantastic way to demonstrate your willingness to do what’s necessary to push through to the next level.

Wildly successful entrepreneurs maintain a rhythm of constant change.

2. High achievers know how to manage risk effectively, so they’re not afraid to take risks.

In order to manage risk, you’ve got to take risks. Because high achievers are so accomplished at managing the possible effects of their actions, they are willing and able to take more risks than everybody else. Here’s a helpful grid through which you can view risk:

Calculate the best and worst possible results of the proposed course of action. The end results usually fall somewhere in between (i.e. the more-than-likely), but high achievers are quick to decide if they can tolerate the worst thing that could happen as a result of taking a particular risk.

If you decide you can tolerate a bad result and the more-than-likely scenario will help you achieve your goals, move ahead with the risk – the possible good outweighs the potential bad. If you can’t tolerate the worst case scenario and/or the more-than-likely scenario won’t move you closer to your goals, don’t take the chance – the reward from the risk is not great enough.

The more you practice this method, the more you will develop your sense for finding the appropriate risk versus return ratio.

Stay tuned for more on entrepreneurship later this month …

Want to find out more about D2? Contact us here to set up a complimentary 30-minute consultation to find out what it will take to move your life and practice to the next level.