Congratulations! You just won a new client.
It was a long and tedious process. Your team spent hours and hours pulling together credentials, testimonials, references and project examples. Eventually you clicked ‘Send’ and shuttled that RFP into the interweb, with all 20 fingers and toes crossed.
Then the call came.
You won! Cheers, high fives and back pats made their rounds.
After the initial glow of victory wares off and the streamers and party hats are safely tucked away for the next hoo-rah, you began to dive into the event. And you soon realized that the event you once coveted is turning out to be a pain in your a**.
Sound familiar? It should, because…
Most small businesses have it all wrong.
Accepting every client into your company is like marrying every Tom, Dick or Harry that comes along. You’re lucky if you find the right fit, but most times the pendulum will swing some place between ‘m’eh’ and ‘utter catastrophe’.
Sure, you might ‘need the money’, but here’s the problem that you’re creating…a cavernous problem that is near impossible to climb out of.
You get that new client to fill the gaps in your revenue. You end up spending more time and resources servicing that client because there’s a disconnect between what they need / expect and what you offer. You end up over-investing and your profitability wanes. Your work is sub-standard…after all, you’ve lost all excitement and your team is just running around to ‘get it over with’. Your client isn’t happy and they let others know about it. You find it harder to grow your business because you’re now fighting negative word of mouth, crappy work and a demotivated team.
Welcome to the undesirable client trap. Many of us have fallen victim before and many more will.
Want to get out?
Create your ‘Don’t Book Me’ list
One of the first things I ask a coaching client is to tell me about their ideal customer. The problem is that most people don’t know who their ideal customer is. Either that, or they describe a client that they don’t yet have the qualifications to service.
So I flip the script.
“Tell me what clients you don’t want calling you.”
Now that’s usually when the floodgates open.
Bottom line is that most event companies have far more experience working with people they never want to work with again than the ones who knock their proverbial socks off.
Make a list of qualities, personality traits, demographics and values for people you’d love to ship off to your competitors. Here’s a snippet from one of my coaching clients to rev your engine a little:
- already know exactly what they want (like down to the finite details), so they’re just looking for a ‘do’er
- the CEO wants nothing to do with events, he/she’ll stick his/her minions on it
- have a track record of LOTS of former event planners
- there’s absolutely no strategy involved…it’s all about the pretty details
- price is their #1, #2 and #3
Now, let’s be honest, your gut probably shoots a warning flare to your brain the moment one of those ‘bad fits’ calls your office. But most times it’s ignored. Why? Because there’s no Client Tailoring process. So, your company becomes a one-size-fits-all shop.
It’s time to make Client Tailoring operational
Armed with your Don’t Book Me list, focus on 3 areas of your business: 1) How you qualify leads, 2) How you identify warning signs and 3) How you fire customers.
Qualifying: What questions do you need to ask prospects to determine if they’re the right fit for your business? Go beyond, “how much money is the event worth”. Figure out if their processes, company and individuals will bring out the best in yours.
Warning Signs: Train your staff on what ‘bad fit client’ signs to look out for. It’s never too late to identify a bad fit. And, yes, it’s often better to walk away from one than to see a project through to a disappointing completion.
Firing: Know who, when and how you’ll fire a client before you have to.