When starting any business, the role of clients is paramount. That is probably the most obvious understatement I have ever written! But what many new business owners do not spend enough time on are guidelines for picking those clients. It is especially important for agencies, firms and individuals to establish early on the profile of the client they wish to engage with.
The Council of Public Relations Firms published a great piece hitting on this point called, How to Avoid Taking on New Business That is Bad for Business where industry leaders impart their secrets…
PR All agencies expend tremendous energy attracting and signing new clients. In their eagerness, they often bring on clients that don’t work out. The goal of any PR agency is to create a good fit between client and agency. This takes work. But how can you recognize a client that’s not a good fit with your firm before you sign a contract? Are there telltale signs you should be able to see in your first few meetings?…
On its website, the Council offers “Fit to Win”, an evaluation tool designed to help firms assess new business prospects. The page offers a self-test, which includes these questions:
- Is the business a good fit, strategically?
- Is the business a good fit, culturally?
- Is the business a good fit, financially?
- Is the business a good fit, operationally?
- How competitive are we?
- What are the expectations?
- Are there any hidden cards or jokers?
- What is really motivating us to pursue this account?
At the end of the day, it is really not about the client picking you, it is about you determining if the client is a good fit for your agency and if you can actually accomplish something for them. As Ford Harding notes, “if you tell someone you aren’t the right firm for them today, you will have extra credibility tomorrow.”
Sometimes, it can mean turning down a major account. But you will be better off in the end with the respect you will gain, and the headaches you will avoid.
-Jess
