Most companies are held back from greater success because they have too many different kinds of customers or clients. When they started their company, they did business with anybody who would buy their products or services. Over time they accumulated many different kinds of customers. While this may be seen as a good thing, it is also a problem because it is complicated to work with so many different kinds of customers. For each type of customer you need different marketing tools and activities, different products and services, and different processes. This fragmentation makes it hard to unify your business under a single brand, message, process and product line, and that inhibits growth.
To simplify your business, and make more money with less work, focus on one type of customer. For example, we only work with small and medium size companies. We don't work with large corporations or government agencies. This single focus has made us experts in the needs of these customers, has simplified our business, and has made our company much more profitable.
Using this model, you have one type of customer and an unlimited potential number of products and services geared to that single customer type. This is in stark contrast to a typical product-first company that has only one type of product and many different types of customers.
Many companies resist this strategy because they don't want to give up any potential customers. But that is not a problem. To implement this idea, you don't have to give up any customers. If a non-ideal prospect walks in the door, you can still work with them if you want. But you don't seek out any new customers that don't match your #1 customer profile.
As you get more and more customers that match your #1 customer type profile, you realize that you don't really want to have any other kinds of customers. You feel more focused, and your business is easier to run. It is then easier to let go of those other kinds of customers.
One key note: It is very important that you choose the right type of customer to focus on. Make your selection after considerable thought. It is the most important decision you will make in your business.
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