Lately I have been listening to The Ultimate Sales Machine by Chet Holmes.
This is a book which I have read multiple times and listened to about a dozen times so far. And I think I am starting to get some of the points… Sort of.
One of Chet’s biggest ideas is that you should have a marketing effort that focuses on your Dream 100 clients.
Instead of spreading your marketing efforts over a wide area, he suggests that you target a group of clients who could double the size of your business.
In my experience, this is a powerful concept. Before I started a marketing company I was in the construction business. My business partner and I did alright for the first couple of years. We paid the bills and managed to pay ourselves. But we were frustrated. It was hard to get ahead of the game. We felt like we were spinning our tires. No traction.
But the thing that took us from “trying to balance the cashflow” to “not having to worry about cashflow” was getting the right client.
Our company built houses. In particular, we built wooden structures. From the floor to the roof. Initially we worked for independent home builders and some larger companies who did starter homes.
Some of the independent builders we worked for built beautiful estate homes. However, the work we did for those higher end homes still wasn’t that profitable. One home we might do really well on and the next home we wouldn’t.
It was partially a lack of experience on our part bidding on complex jobs combined with the quality of the builder we worked for and constant changes on the jobs.
We weren’t really sure what the formula was to make things work well.
But after a couple years, everything clicked for us all at once. We started working for one company which was in our Dream 100.
And we instantly started making money. We went from juggling cashflow to being more concerned about how much to pay ourselves and how much to reinvest in the company.
This felt amazing. After the time we had put in working at our business, things were looking great. It gives you a lot of security to work with great clients like these.
By this time, we already had a good crew of four other employees trained up. The Dream 100 company made everything easier
They paid without us having to chase them.
They didn’t constantly change the blueprints in the middle of a job
They built row houses so we could knock them out four at a time.
They developed neighborhoods so we could leave our telehandler and equipment in one place.
They always had the site supplied with the right lumber. This meant no delays in building.
In short, this Dream 100 company wiped out a whole lot of problems at once. After we had worked for them for a while, my business partner and I had a chat about the experience.
We were talking about how much that one relationship/contract was worth. In other words, how much would it have been worth it to pay for that one relationship
Would it have been worth $100,000 just for that one relationship?
Listening to the book again reminded me of that situation. The right clients are invaluable.
And they can change your business overnight.
Here is my take on how to implement the Dream 100 idea:
- Create a list of Dream 100 clients who could double the size of your business if you started working with them. Here is some criteria for you to consider when building your Dream 100 list:
- How many employees do they have?
- What industry are they in?
- What is their character like?
- Are they well connected?
- Is their company well-known or under-the-radar?
- What specifically do you have to offer them?
- Determine how you are going to target them with your marketing:
- Direct mail
- Direct email
- Personal introductions
- Interview them
- Write a sales process for how to add value to their business and build a relationship:
- How are you going to benefit them over a long period of time?
- What could you give them to start building a relationship?
- Who are the key decision makers you will need to reach?
- Create a schedule for the follow-up with them and start working on it.
- Never stop with your sales process or marketing to them.
It is important to note that this is not a one-time effort. This is a permanent effort that you continually do. For years if need be.
Chet Holmes had Jay Abraham on his Dream 100 list. He called or emailed every week for…
Then finally Jay’s business manager set up a meeting with Jay. After that meeting they did a number of deals together. Can you imagine the relief that Chet felt? Can you imagine how good that felt to see that come together? All that time invested. He must have been on cloud nine for weeks.
Chet estimates that the meeting with Jay was worth $15 million to him. It is important to note this. And make this point with a little extra emphasis.
Chet was targeting a Dream 100 list that would have a huge impact on his business. So calling or emailing every week for two years was worth it to him.
This concept is all about focusing your marketing. Choose your best buyers and focus on them relentlessly.
Can you picture getting the same results Chet did? Would that change your life?
I would be pretty happy to make $15 million from one business relationship.
And that is the core of the idea. To have a marketing effort aimed at these Dream 100 clients that could change your life.