Focus on Defining Ideal Customer Profile:
Ideal customer profile must be defined in both qualitative as well as quantitative terms. The quantitative parameters would include the measurable and numerically quantifiable dimensions that the customer profile must possess. These would vary with the product or service being sold and the universe to which the target segment belongs.
With insights based on decades of practical experience of dealing with large number and variety of customers in multiple industries I can vouch for my observation that qualitative aspects are even more critical than quantitative parameters while analyzing a customer profile.
Prioritize Qualitative Analysis over Quantitative one
It is highly recommended that prospects be instantly dropped from the prospect list if they fail to qualify on qualitative parameters even when they qualify on quantitative parameters. It would be only wise to prioritize qualitative analysis over quantitative one. As soon as a prospect gets disqualified on qualitative aspect, the quantitative evaluation must be abandoned without any second thought. As overlooking disqualification on qualitative parameters can seriously jeopardize business quality raising alarming sustainability concerns leading to compromised business health.
Leadership must Embrace Practices to Build Right DNA
Such an approach calls for a sharp focus on laying down a very strong foundation of management systems , processes and professional work culture through meticulously planned training and development initiatives. The dilemma facing most businesses is the optimum patience required to sustain the effort for building the right organizational DNA, capable of lending scalability to business organization. Here defining factor of business leadership is its integrity for embracing correct practices, capable of building the right DNA over any cosmetic quick fixes promising illusionary growth trajectory in the face of multiple challenges creating pressure for generating immediate results. The mantra is to let the golden goose live and be happy with building long term consistency over the lure of achieving temporary short term gains through sporadic spikes.
Author of this post is a business coach and can be approached for customized consulting and training solutions by clicking here
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