TT#047 - The Checklist I Use To Define A Crazy ROI Niche...Jan 24, 2023
With just one question, I can usually get a good sense of:
- How much solopreneurs enjoy their work.
- How much money they (roughly) make.
- Whether they regularly burn out.
Can you tell me about your Ideal Client Profile?
If you have a brilliant profile of your dream client, you’ll get paid premiums to do high-quality work. Without one, though, everything you do will feel 3-10x harder. And be 3-10x less rewarding.
After all, your business is built around your ideal client and how effectively you can solve their problems.
But… there are hundreds (thousands?) of potential client profiles to choose from. And if you don’t have a clear criteria to use in building yours, it’s easy to go wrong.
This week I’m sharing an Ideal Client Checklist to help you avoid building a business that feels exhausting and unrewarding.
Here it is:
Item #1: They’ve got money to spend
I’ve worked with a number of awesome solopreneurs who, on paper, should have built great businesses.
They were experts in their fields, had awesome offers, and really cared about serving their ideal client.
The problem? Their ideal clients didn’t have any money to spend.
And it’s disheartening. Because you can’t serve without being paid.
Selling processes drag on, getting great results won’t necessarily lead to further business, and you never make enough to buy your time back.
If you can possibly avoid it (and you can), steer clear of “passion clients” that have no money to spend.
Item #2: You’re An Expert in Providing What They Need
I’ve spoken before about the ‘Adequate Work Trap’.
It’s easy to fall back on selling all the things you can do.
But you don’t want to build a business around services you’re just ok at delivering.
Because if you’re only ‘adequate’ at the work, you can never charge premium prices. And worse, you’ll find imposter syndrome setting in.
Instead - find an ideal client who you can serve as an expert.
I want you to be certain that you can deliver results.
Because that certainty will come through in your messaging, sales and delivery, and allow you to charge what you’re worth.
Your expertise will become a key part of your positioning and unique selling proposition.
Item #3: They’re In Pain
It's easier to sell painkillers than vitamins.
When you choose an ideal client that has a pain they want to go away, you’re selecting a group that wants to take action.
They don’t need to be educated on why it’s painful, or be made aware that they’re suffering.
They’re ready to buy.
In other words, when your ideal client is in pain, you get to preach (and sell) to the converted.
Item #4: They’re Committed To A Transformation
The fastest way to grow your business is to produce brilliant results for your clients.
And a brilliant result is almost always a transformation of some kind.
When your ideal client is committed to making the most out of your service, you’ll earn badass case studies.
But when clients pay and then only half-commit to whatever transformation you’re helping them go through, results are ‘meh.’ Case studies are tough to get and referrals don’t happen.
If at all possible (and it is), dial in on an ideal client committed to getting the transformation you’re offering.
Item #5: You Can Deliver Results Quickly
The faster you can deliver results, the faster you can leverage those results as case studies and testimonials to find more great work.
If it takes 18 months for your clients to see any results or put some wins on the board, you’ll always be a year and a half behind on referrals.
Just as dangerously, your product will be über slow to develop because your clients won’t be able to give you feedback for months. And a slow feedback loop means slow iteration and improvements to your offer.
Instead, choose an ideal client who needs a transformation you’re certain you can deliver some quick wins with quickly.
I’m on a mission to help 10,000 Entrepreneurs discover and enjoy a new lifestyle by creating income they deserve from wherever they choose doing work they love.
For a limited time, I'm hosting a LIVE workshop: How To Build A Scalable Service Business & Generate Client On-Demand.