Follow My Blog To Its New Location

Please join me in our new location, effective October 10, 2010:

http://rochellemoulton.com/the-be-unforgettable-blog

You can sign up for email delivery or RSS feeds there so you won’t miss a post. And, all of the entries back to August 2009 have been duplicated for your reading pleasure.

Let's be unforgettable together!

Dolphins, Whales and Sharks

One of the challenges of professional advisors is seeking out the right clients for our talents and business model. We often get seduced into chasing the big name or the bleeding-edge project, only to shake our heads in disbelief once we’re in the midst of the work.

Try thinking of your target clients as dolphins, whales or sharks.

Dolphins are highly intelligent, social (in small groups) and nimble. When the situation warrants, dolphins will merge their pod (about 12 dolphins) with others. Dolphin clients naturally collaborate and thrive in team situations. They will seek out advisors who are adaptable, nimble and smart. They aren’t cheap, but highly value conscious.

Whales are smart, but their sheer size makes them ungainly. They don’t maneuver easily, but when they do surface it is unforgettable. Like dolphins, they travel in pods, but do not routinely join larger groups. Whale clients tend to be large, entrenched organizations. Their functional leaders often don’t collaborate outside their team. Whales gravitate to advisors with big, complex project expertise and tend to pay accordingly.

Sharks are equally maligned and celebrated (Shark Week anyone?) They can be fascinating to watch and yet turn deadly on a dime. Some are highly social and others solitary hunters. Shark clients must be engaged very deliberately. True collaboration—even if you hold the key to their success—is not in their DNA. Sharks want to win and may well sacrifice you if it buys them their end goal. Not terribly price conscious, they are drawn to advisors who can draw a straight line to their prize.

Dolphins, whales and sharks. Who is your ideal client?

Do Unto Others....

Your mother probably told you to “treat others the way you’d like to be treated.” But she got it just slightly wrong. The best advisors treat their clients the way the client wants to be treated.

Think about it. Each of your clients is an individual with distinct preferences for communicating, leading people and managing their business (not to mention their advisors).

No, you needn’t bend to every wind. But have you built in enough flexibility in your style and business model to meet the needs of your core clientele? Side benefit: as you adapt better with your clients they in turn want you around more often.

Let’s say you tend to be a flowery communicator. You’ll never use 1 word when 8 will do. But your client is a “just the facts” kind of guy. Are you defaulting to your style or do you try to speak (and write) in language he can digest quickly? And are you paying attention to the verbal and non-verbal cues he is sending? If you make him work too hard, he’s likely to look elsewhere.

Perhaps your client is a hands-on, collaborative leader who enjoys intense team discussions about the issues you’re addressing. You prefer to deal with her one-to-one and chafe when you must engage with group dynamics. Without a little adaptability, you run the risk of your discomfort costing you larger engagements and a bigger playing field.

Or, perhaps you’re a coach and you’ve developed a structured call/fee system as your core business model. What about potential clients who aren’t so structured but could use your services? Are you going to make them adopt your work style? Getting creative to develop profitable new ways to serve this market can bring more clients to your door.

It’s not about changing your business model (or who you are)--it’s about staying flexible.