Finding Your Goldilocks Prospect: The Key to Effective Business Development

Are you pursuing the right audience? In today's market, identifying your real buyer is crucial for success. As a solopreneur or independent business developer, your time is your most valuable asset. That's why selecting the right prospect profile is one of the most important ingredients in your business strategy.

?Think of it like Goldilocks and the Three Bears. You need to find a prospect profile that's not too broad, not too narrow, but just right. Why does this matter? Because your subconscious mind will lead you (and your referral partner) to the right person if you direct it properly.

?Let me share a quick example from my experience delivering sales training for Sandler. We conducted an experiment with two groups of our sales people:

?1. Group A targeted "engineering companies" as their prospect profile.

2. Group B selected 10 specific companies from the Business Journal Book of Lists, complete with decision-makers and titles.

?After 30 days, which group do you think was more successful in connecting with their targets? While Group A did make some connections, Group B, with their more focused approach, achieved both higher quality and quantity of direct connections.

?Why does this happen? The human brain functions like a powerful computer. Think of it as a Google search. A general search yields numerous results, but often not what you're looking for. When you use specific, narrow search terms, you get higher quality results, even if fewer in number.

?Your resources are finite, so it's crucial to focus your attention where it can gain you the most ground. Here are some tips for narrowing your prospect profile:

?1. Use identifiers that are recognizable to anyone, not just those in your industry.

2. Limit the jargon used to describe your ideal prospects.

3. Don't forget to include psychographic data, not just demographics.

?Behavioral characteristics often tell you more about a prospect who has the three M's to purchase:

- Means: The ability to make a decision

- Money: Available budget to invest in your solution

- Motivation: A problem they're eager and willing to solve, which your offering addresses

?By focusing on these aspects, you'll create a prospect profile that's just right – not too hot, not too cold, but perfect for your business development efforts. Remember, in the world of sales and marketing, sometimes less is more. A well-defined, focused target audience can lead to more meaningful connections and, ultimately, better results for your business.

?So, take the time to refine your prospect profile. Your future self will thank you for the increased efficiency and effectiveness in your business development efforts and you will experience the REALITY of success (no fairly tailes for you!).

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