What Should I Consider When Deciding if a Potential Client is a Good Fit?

Short Answer: To determine if a potential client is a good fit, evaluate whether they have a legitimate business, assess their investment capability, and consider the ticket size of their business.

Full Explanation

When deciding if a potential client is suitable for your services or program, begin by verifying the legitimacy of their business. A legitimate business is one that is actively engaged in its market and appears to be financially stable enough to invest in your offerings. Signs that may indicate the opposite include a lack of a website, minimal or no social media followers, or an apparent lack of resources or capital. These factors suggest that the potential client might not be prepared or willing to meaningfully invest in your program.

Additionally, another important factor to consider is the ticket size associated with their business. The ticket size refers to the average transaction value or the amount of revenue generated per sale. For example, home service businesses often handle larger ticket transactions compared to makeup artists. Knowing the ticket size can help you gauge whether the client aligns with your service model and pricing strategy.

Step-by-Step Breakdown

1. Confirm Business Legitimacy: Check if the client has an operational presence such as a website or social media profiles.
2. Assess Financial Viability: Consider whether they have the resources or willingness to invest in your program. A client who seems broke or lacks investment readiness may not be a good fit.
3. Evaluate Ticket Size: Understand the typical transaction sizes in their industry or business type to determine if your program’s value matches their spending capability.

Real Examples

For instance, a home service business usually deals with clients requiring bigger-budget projects or services, which means they often operate with larger ticket sizes. This kind of client is typically more likely to invest in comprehensive programs. In contrast, a makeup artist might work with smaller ticket sizes, making their ability to invest in higher-priced programs less predictable. Understanding these distinctions helps in selecting clients who align well with your offerings.

Common Mistakes

• Failing to verify whether a potential client has a legitimate business, leading to wasted time on prospects who cannot or will not invest.
• Overlooking the importance of ticket size, which can result in mismatched expectations around pricing and service levels.
• Assuming social media followers automatically indicate investment readiness without considering other financial factors.

FAQs

Q: Why is having a website important when evaluating a potential client?
A website demonstrates that the business is established and invested in its presence, which often correlates with readiness to invest in additional services.

Q: Can a small follower count mean a client is not legitimate?
Not necessarily, but it could suggest limited reach or marketing investment, which might impact their ability to afford your program.

Q: How do I determine the ticket size of a potential client’s business?
You can research typical transaction amounts in their industry or ask the client directly about their average sale value.

Key Takeaways

• Assessing the legitimacy of a client’s business is essential before committing time and resources.
• Evaluating a potential client’s financial investment capability helps ensure alignment with your offerings.
• Considering the ticket size of the client’s business type aids in matching services to appropriate budgets.