David A. Fields Consulting Group The most important attribute of a prospective client for your consulting firm is probably not what you think. (And knowing that #1 attribute will help your firm develop and execute better business development plans.)
Many (most?) consulting firms take a Ray Kinsella approach to their client base.
Wait, you don’t remember Ray Kinsella? Ray was the main character in the 1989 Hollywood blockbuster Field of Dreams. Originator of the “If you build it, he will come” meme.
The film portrays Ray as a newbie farmer who builds a baseball diamond to attract the spirits of deceased players from a bygone era.
Ray plows every penny into the ball field as neighbors deride his crazy scheme. However, Ray defies all naysayers and the final scene reveals miles of cars lined up to watch famous phantoms play ball.
As the movie’s credits roll we know Ray has been vindicated, financial ruin has been averted, and a lot of Iowans are headed for years of psychotherapy.
Consulting firms who adopt the Ray Kinsella approach build their offerings and messaging first, with the assumption that somehow or other they’ll be able to attract the right clients.
And what is the most important attribute of those right clients?
Marketing gurus and movie producers typically suggest one of the following characteristics should top the list:
- They’re the decision makers.
- They have the means and ability to pay for your consulting firm’s offering.
- They see the value in your firm’s offering.
- They trust you/your firm.
- They offer chocolate to their consultants.
Unquestionably, the best prospective clients exhibit all of those important qualities.
But we’re still missing the grand slam. The single most important characteristic of your target is simpler and more direct:
You can reach them!
Even more to the point: you can draw them into a one-on-one conversation with you.
Yes, being able to reach a prospect isn’t as sexy or sophisticated as the “ideal client” avatar that some marketing agency or book told you about. In fact, focusing on who your firm can reach is utterly plebeian. Flat out practical. Nevertheless, it’s true.
The consulting firm version of that 1989 baseball flick would have been Field of Bankruptcy, because no matter how great a solution you build in your cornfield, if you can’t reach your prospect you’re going to lose the farm.
Too many consulting firms spend months or years promoting an offering they built without signing a single client. Why? Because they don’t have strong relationships with prospective clients and don’t have a proven path to create those relationships.
If your consulting firm needs business right now, then you better be able to reach your prospects right now.
The secret to near-term success is not whether anyone will buy what you’re offering, but whether you’re offering what the people you can reach will buy!
If you can afford to build your firm’s portfolio of clients over time, then build a clear, realistic plan to reach prospective clients.
For the record, cold calling and 99% of third-party business development outreach campaigns are not realistic paths to reaching prospective clients.
Every other important characteristic of your “ideal client” can be established after you solidify your reach.
If I had written Field of Dreams, Ray Kinsella would have surveyed every neighbor and connection he had in Iowa to find out what they truly needed. Then he would have opened up his John Deere dealership. Wouldn’t have been much of a movie, but he’d have retired a multi-millionaire.
What are you doing to reach more prospects?
Text and images are © 2024 David A. Fields, all rights reserved.
“ If I had written Field of Dreams, Ray Kinsella would have surveyed every neighbor and connection he had in Iowa to find out what they truly needed. Then he would have opened up his John Deere dealership.” I think this is now my favourite quote of yours ever.
Tim, this particular article had a couple of lines that made me chuckle too, and it’s obviously a good thing I’m not a scriptwriter! (There’s no Oscar for pedestrian movies portraying modest success.)
Thank you for sharing your reaction, Tim, which is very much appreciated.
Oh, but I think we could make a reasonable argument that the world be a better place if more people understood – and celebrated – modest success. And perhaps were even satisfied with that! (Rather than striving for extraordinary success at the expense of so much…)
True that, Richard. The world would be a better place if people recognized their successes, celebrated them and stopped comparing them to other people’s successes!
Fantastic article as always!
I chuckled too…I recently found out that to open a Deere dealership, the company recommends you have a net worth of $30-40 million. Clearly they did their outreach 🙂
Wow, Troy. Apparently you need to build a field for ghosts and film a blockbuster movie just to accumulate the wealth necessary to sell tractors. Who knew?!
Thanks for joining in the fun, Troy!
Thank you for this reminder, David. It is absolutely true.
We got our start by partnering with and subcontracting to other consulting firms. Why? Because they were in reach. We didn’t have prospects of our own and recognizing this early was crucial.
The relationships we made while subcontracting eventually became the underpinnings of our client-facing part of the business, and we continue to serve in subcontract roles too. Some of these relationships have lasted 20 years, and they are still great!
Even better, our subcontractor relationships are now turning into partnerships, where we work as equals and under each other’s brands depending on the opportunity.
Wow, Jon, what an amazing case study and illustration of the importance of reach. Your example should serve as a lesson to many readers, who somehow consider subcontracting an inferior route forward. Good on you for recognizing who you could reach, serving them well, and building upon your successes.
Truly inspiring, Jon–thank you so much for sharing!
David, you the man!
You’re funny, Doc. I do appreciate your cheers and reactions!
Turn prospects (you can find) into customers into advocates into raving fans who tell everyone they know (especially the ones you don’t know how to reach, but your raving fans do) how great you are.
Well said, Jay. That’s very much in line with the path Jon Gilbert described in his comment. It’s much easier to build small wins into huge successes than to attain the end goal all at once. As you deftly point out, delighting the clients you can reach creates a path to win additional clients you can’t currently reach.
Thank you for the outstanding expansion of the article, Jay.
Excellent article, David.
I’m starting the stage of discovering potential clients [prospects], and a week ago I gave a friend a fishing line that I don’t think turned out very well.
My question is: how long should I wait until I bring up the subject again with the same person?
Or should I not try again with the same prospect?
Thanks for your help.
Great question, John. This would be a good one to raise during our Monday live Q&As (https://davidafields.com/mondaylive)
It depends what you mean by “it didn’t turn out very well.” Remember, the only bad response to a Fishing Line is polite interest. If someone has a firm, negative reaction, that’s a good response–you’ve learned clearly that the person isn’t your prospect or that you’re not targeting the Right Problem.
Testing out your Fishing Line is not (or should not be) a selling conversation. Therefore, there’s no time limit on bringing up the subject again. All you’re doing is talking about who you target and what problem you solve. If you go back a week later and say, “I know that last week I said we were targeting gymnasts who aren’t gaining enough height in their jumps; we’re actually thinking of pivoting to working with gymnasts who need stronger floor routines,” your contact isn’t going to think any less of you. S/he’ll let you know whether s/he’s your target market and struggles with the issue you address.
Thanks for the question, John!