As entrepreneurs we understand that to be successful, we must continue to sell our products or services. But what happens when we aren’t making sales and become desperate, and we start marketing to prospects that are not really our target customers?
Join Jay on his latest Black Entrepreneur Blueprint podcast episode number 471 as he gives you a simple process to get rid of bad prospects and bad customers and teaches you how to attract your ideal and most profitable customers.
LISTEN TO THE FULL EPISODE
BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE 471
What Is The Cost Of Working With Bad Prospects And Bad Customers?
- Today we are going to discuss the benefits of working with your ideal customers and getting rid of your bad prospects and your bad customers.
- I’m also going to give you a simple process you can follow to implement this in your business immediately.
The fastest way to go out of business is to not have enough QUALIFIED prospects in your pipeline.
The Science Getting Rid Of Bad Prospects And Attract Your Ideal Customer
Benefits Of Working With Your Ideal Customers And Getting Rid Of Your Bad Prospects And Bad Customers
- Keeps your workflow smooth by reducing friction in your sales pipeline (do you want rocks in your sales funnel or water?)
- You can create standard processes, procedures, and systems based on knowing what your ideal customer wants and needs. (my mortgage clients have everything in order like bank statements, cash reserves, down payment money, etc versus clients outside my avatar that don’t)
- You eliminate the stress and frustration of working with prospects and customers that don’t fit your avatar.
- You become more selective with who you bring on as a customer, which also makes your business more desirable. (when you make something exclusive, it becomes more valuable – The AMEX Black Card, Invitation only events or clubs, By referral only – like when Clubhouse started)
- You make more money because your business and sales system is attracting qualified prospects that fit your criteria
A Simple Process You Can Use To Implement This In Your Business Immediately
- Go through your current customer base and fire your bad customers (problem customers). Be nice and give them a referral elsewhere.
- Have prospective customers disqualify themselves by saying “Who this is not for? Example:” If you’re looking for a get-rich-quick scheme, this is not for you. If you’re not willing to invest ten hours a week this is not for you. If you are not committed to participating in the weekly group discussions this is not for you.”
- Layout your process and expectations up front so they know your process and what to expect. You can even have a list or checklist that they initially confirm that they understand the process. Example: Understanding My process form.
- Remove the most common objections in your sales copy, by video, or in your FAQs.