Step 7: Find the Right-Fit Targets — Goldilocks Had the Right Idea
Originally written by Dan Doescher. Updated by Tom Doescher.
Note: If you missed the introduction or earlier steps in this series of blog posts, please click here to read it.
You are confident you will know your “10” — that perfect potential new customer or client — when you see it, because you have taken the time to define your target. That is an important step.
The real test, however, is figuring out where you can find your 10 — or even the 7s, 8s, and 9s.
Given the many ways to hunt, you may need to experiment until you determine the most effective and efficient approach for your business and your team.
This is where many companies get stuck. They define the kind of customer they want, but then they rely on the same old habits to find them. They wait for referrals. They attend the same events. They talk to the same people. They hope the right opportunities will somehow show up.
Hope is not a hunting strategy.
Brainstorming with team members who are involved in any part of the hunting process can be extremely useful. Do not overlook the inside administrative team members. They may hear things, notice patterns, or understand customer behavior in ways leadership misses.
With your ideal target profile in clear view, start asking practical questions.
What companies, both generically and by specific name, best meet your criteria?
What industries or professions fit your strengths? This may include areas where you already have specialization or where you plan to develop it.
Are you trying to expand geographically? If so, where are the right customers located?
What size company is the best fit?
They cannot all be 10s.
Goldilocks had the right idea.
She tested the porridge, chairs, and beds until she found the one that was “just right.”
Your team needs to do the same.
Not every potential customer is too big, too small, too complex, too simple, too far away, or too risky. Some will be just right. The key is to get clear enough that you can recognize them when you see them.
Next, ask where you are most likely to find these targets.
This can feel daunting, so break it down.
Generally, the narrower the field, the more difficult it is to connect. That does not mean you should avoid narrow targets, but it does mean you may need a mix of broad and narrow efforts.
Associations, community service organizations, trade groups, industry events, and clubs can provide networking opportunities. Current customers may also help you understand where similar companies spend time, what they read, which groups they trust, and who influences their decisions.
Then consider the people involved.
Who are the likely influencers and decision-makers?
Robert B. Miller and Stephen E. Heiman, in The New Strategic Selling, identify four potential influencers:
Economic influencers have the final say.
Users can kill a deal, but not necessarily close it.
Technical influencers can keep a deal from getting to the users, but they cannot close it.
Coaches want you to close the deal and can provide useful leverage.
This is a helpful reminder that a target company is not just a logo on a list. It is a group of people, each with different roles, concerns, and levels of influence. If you do not understand who those people are, you may spend time with the wrong person or miss the real obstacle.
Also, do not overlook current loyal customers and clients. The emphasis is on loyal.
These individuals are not likely to refer you if they are not completely delighted. Following up to ensure they are pleased is not only good customer service, it is also a great way to deepen existing relationships.
Satisfied customers may stay. Delighted customers may refer. Referral sources are also important, and some of the best ones may be in unsuspecting places. Consider:
Your staff.
Current suppliers and service providers.
Family and friends.
Professional advisers.
Community connections.
Industry peers.
Many people may be willing to help, but only if they understand who you are trying to reach and what kind of opportunity is a good fit.
If you want new customers or clients, the key is for people — all of the people you know, or at least most of the people you know — to understand that you are open for new business.
Equally important is something my dad taught me. I heard it hundreds of times, and it had a distinct and profound impact on my life:
“Don’t be afraid to ask. The worst they can say is no.”
That advice still holds.
For many business owners, asking feels uncomfortable. Asking for an introduction, asking for a referral, asking for advice, asking who else you should meet — all of that can feel awkward at first.
But if you believe your company can meet real needs, then asking is not selfish. It is part of helping the right people find the right solution.
A final thought: once you know who your ideal customer is, do not keep that knowledge hidden in a planning document.
Turn it into action. Name the companies. Identify the influencers. Talk to loyal customers. Equip your referral sources. Ask your team what they know. And then start testing where the best opportunities are found.
Goldilocks was on to something. The goal is not to chase every bowl of porridge in the room.
The goal is to find the one that is just right.
