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Ep. 117 - From Prospects to Profits
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Find Your Ideal Buyer
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In business, finding and targeting the right customers is crucial for success. Many business owners find it a challenge to identify their ideal buyer. Today, we will explore the concept of finding the ideal buyer and talk about strategies to help you attract high-value customers.
The Sentient Strategy:
One approach to identifying the ideal buyer is through "Sentient Strategy", as discussed by Alan Weiss. This strategy involves looking at future buyers from two dimensions: their changing and growing nature, and external market factors such as technology and demographics.
When you evaluate these dimensions, you can make informed business decisions about which buyers to target.
Targeting & Attracting High-Value Buyers:
You should also adjust your marketing materials and persona when targeting larger markets. Understanding what the ideal buyer reads, listens to, and interacts with is crucial for getting on their radar screens. Rather than solely chasing money, it is important to focus on attracting high-value buyers who align with your business goals.
Addressing Issues & Shedding Clients:
Business relationships are not always smooth sailing. It is essential to address issues and make necessary changes to ensure you have successful transactions. Sometimes, a difficult buyer may bring in significant revenue, but if they are unwilling to adapt, it may be necessary for you to end the business relationship. As business needs change, it is important to shed clients who are no longer appropriate and find new ones.
Finding your ideal buyer is a key factor in achieving success in your business. When you implement strategies like the "Sentient Strategy", targeting high-value buyers, and addressing issues with clients, you can position your business for growth and profitability. It's not selfish to shed clients who are no longer a good fit—it's about protecting the integrity of your business. Focus on attracting those who genuinely want assistance and are willing to invest in your value. Start prioritizing your ideal buyer today and watch your business prosper.
What's In This Episode
How to choose the right buyer
Moving to a new market
Knowing what questions to ask
How not to be all things to all people
Knowing who the wrong buyer is
What To Do Next
Visit lisalarter.com/e117 for all resources from this episode.
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