If you don’t have an accurate description of your ideal prospect on the tip of your tongue, you are unlikely to ever find one. And, more unfortunately, your clients and referral sources are not likely to ever refer you to one. It is vitally important that you describe in writing what your ideal prospect looks like. The ideal client is the one that gets the most value from your services, is willing to pay the price to get them, and they are large enough to have an impact on the growth of your company. You should describe your ideal prospect by the pain they are in or at least the problems they would have that make them the ideal prospect. Just because your best clients are all service firms in the Fortune 1000, does not mean that all such firms are ideal prospects for you. You are a labor attorney then maybe your ideal prospect is all fortune 1000 firms who have Non-Union Employees and are trying to avoid being unionized. That narrows the field and much more importantly allows your clients and other referral sources to be able to identify prospects for you while in general conversation with their clients or acquaintances. Being able to succinctly describe the pain your prospects might have makes you much more effective in networking situations and when working trade shows. Demographics are important when describing target clients but not as important as identifying the pain that they might be in.
