Narrow your focus Contd.

  • Once you’ve got a good idea of who your customers are, it’s time to group them into one of four boxes. First, you’ve got the profitable customers who also refer business. These are your golden geese – the customers you need to understand, find, and cultivate.
  • Then, there are the profitable customers who don’t refer business. These folks are still good to have, but maybe there’s a disconnect somewhere. Figure out what’s going on, and see if you can improve your communication with this group.
  • Next up, you’ve got the unprofitable customers who refer business. Sure, you appreciate the referrals, but maybe these folks shouldn’t be customers in the first place. Take a hard look at who they’re referring, and see if it’s a good fit for your business.
  • Finally, there are the unprofitable customers who don’t refer business. These guys are your detractors – they’re not making you money, and they’re not helping you out by sending new customers your way. Take a close look at this group and see if they represent work you should no longer be doing.

Remember, the key to success is often focusing on what really matters and cutting out the rest. By narrowing your focus and honing in on your ideal customer, you can make sure that your business is thriving and growing.

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