I was coaching Ed and his team last Friday.

Last year Ed did $1.4m in revenue with 5 team members. He was making a decent profit on that.

Ed has 250 business clients with an average fee of $4,819 per business client. He had write ups of 10%, productivity of 74% and decent year on year growth. Ed owns a GP firm with a ‘hotchpotch’ of different clients. Everything from a solo contractor to a $25M ad agency – and everything in between.

Pretty typical starting mark for most of the firms I coach.

I asked him what his ‘ideal’ client was going forward. The absolute ultimate sweet spot for him. He told me HVAC businesses – heating, ventilation & air conditioning businesses between $1M and $10M in revenue. I asked him why that sector. Here’s his answer…

  1. There are lots of them throughout the country
  2. They have the ability to pay
  3. My IP and industry knowledge can help them
  4. I like them – good solid down to earth people
  5. There business will not be digitally disrupted (aka eliminated) in the future

The following conversation took place:

Me: Awesome. 5 good reasons to target them.

Ed: Yes, I have thought long and hard about the target going forward

Me: Ok. How many do you want?

Ed: 48 new ones

Me: How many do you have now

Ed: 1 and we’ve helped him a lot

Me: When do you want the 48?

Ed: By the end of this year

Me: How much do you want to charge them?

Ed: $40k each per annum

Me: What are you going to deliver as a minimum to justify $40K?

Ed: Simple. Compliance, tax planning, budgeting, forecasting, monitoring, accountability, financial coaching

Me: Do you have a marketing person to help you?

Ed: Yes

Me: Do you have any idea how to find them?

Ed: No!

So then the work started. We’ve got a clearly defined target market and he wants 48 new ones. What I did was draw a funnel on the flip chart and did a workback to see how many leads we need. 

  • End goal – 48 clients
  • From implementation plan to sale 80%
  • From 90 minute interview to implementation plan 90%
  • From qualification process to interview 50%
  • From lead generation to qualified lead 50%

Based on that he needs 266 quality leads (call it 300 to be safe) from this target market this year. 25 leads per month. He also needs a sales process and some fine tuning in the sales skills area. His marketing manager (part time) was in the room.

EASY she says!

MM: All I need to do is get a database, clean it up, send valuable content (case studies, articles etc), feed them into our complimentary report online, do some webinars and I’ll get 25 leads per month.

Me: Great – so let’s just go and to that!!!

I’ll be coaching Ed and he MM on the journey this year. Should be fun.