It takes some work initially, but once you establish what you want in a client, it’s truly possible to identify your dream client.
Analyzing and knowing your ideal client’s demographics and psychographics will help you identify who you want to work with. Demographics relate to one’s salary, industry, profession, income, and location. Your client’s psychographics relate to behaviors, personality, and type of person they are.
Why do you need to define a clear set of demographics and psychographics on your clients?
Identifying these attributes allows you to determine what you seek and want in a client. This helps you say no to accepting clients who fail to meet your values.
At TFW Advisors®, we identified a demographic of clients we accept consisting of business owners, investors, and entrepreneurs in the US who generate at least a million dollars in annual gross revenue. Client psychographics we identified include those who stay engaged, are passionate about what they do, and want to be in control.
Once again, there is no right or wrong answer; it’s what works for you. Take a moment to reflect on what you prefer in a dream client, their attributes, and how those attributes and values align with your own.
Have you established your core values?
Knowing your values is an important part of creating and maintaining your company culture and it helps you identify the clients you seek. Investing time with your staff and leadership to establish your values and culture is paramount. At TFW Advisors®, our core values include:
Have fun with it: We always have fun working.
Own it: We own it by always accepting responsibility.
Honor it: We honor it by honoring our failures & successes
Break it: We break it by breaking dated processes and replacing them with new solutions.
In looking at your core values, it is imperative to keep them focused and simple (3-5 is ideal). Knowing your values will help you easily identify clients and anyone in your organization that doesn’t share those values.
Alongside defining your core values, you should identify your brand, culture, and leadership style to establish your dream clients. You will now have a group of people (clients and staff) that can work and succeed together.
Knowing the attributes of your dream clients is an important step in understanding who you should work with and who you should avoid. One step you can take is to analyze your client list. Start by reflecting upon your developed culture, brand, and leadership style. Know your client’s demographics and psychographics and determine which clients meet these requirements and which do not.
Now you have the blueprint for identifying your dream client!
Want to learn more about how to get better clients, a better practice, and a better life? Book a call with us today and see if joining TFW Advisors® is right for you!