The sweet spot on a golf club is that very specific point where, when you connect with the ball, it gives you the exact results you are looking for. The further the club connects with the ball away from the sweet spot, the more results are diminished. Get far enough off that point and you have a slice or a hook; landing you in the woods.
Your business is the same way. All the components that make up your business (such as expertise, experience, special skills, location etc.) combine to create a “sweet spot” that is most effective when you serve a customer base that is looking for, and willing to pay for, the unique combination you offer.
You cannot be all things to all people. When you try to serve just anyone who walks in the door, you end up bending and changing your core competencies to fit their needs. A much better approach is to go out and actively seek a client base that fits well with the strengths of your business (your sweet spot).
What do your top customers look like from a business perspective? They probably pay your top fees, complain little, use you on a repeat business and even have a “fun factor” when you do business with them. The more you get away from the sweet spot, the more you will hear complaints about price and service. Your team will become weary and you will start to see signs of diminished service and efficiency throughout the business.
The 80/20 rule states that 80% of your profit comes from 20% of your customers. That 20% are most likely your top customers and aligned fairly well with your sweet spot. Clearly identify who those customers are that bring you the most profit, develop a profile of their common characteristics and then spend your sales and marketing dollars attracting prospects that look just like your top customers.
Rather than just hunting for more business, why not seek out “better” business.
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