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EP353 How to Find the Clients Driving Your Most Profitable Growth · Profit With A Plan

• 0:12
  Marcia Riner | Profit Booster®: See, most businesses assume that growth means more leads, more activity, and more customers. But what if the smarter move is identifying the 20% of the clients that are creating the greatest value in your business?
• 0:27
  Marcia Riner | Profit Booster®: Then, building your strategy around them.
• 0:30
  Marcia Riner | Profit Booster®: In today's episode of Profit with a Plan podcast, we're going to show you how business leaders can use real data, objective metrics, and the 80-20 growth strategy to find their high-value clients.
• 0:45
  Marcia Riner | Profit Booster®: Focus resources where it matters most, and grow with less wasted effort.
• 0:51
  Marcia Riner | Profit Booster®: So if you're tired of working harder without seeing the growth you expected, this conversation will help you rethink the real opportunity, where the real opportunity is hiding.
• 1:04
  Marcia Riner | Profit Booster®: Hey entrepreneurs, are you working too hard for too little profit? Well, welcome to Profit with a Plan Podcast, where we help business owners grow smarter, increase profitability, and build a company that's worth more, whether you plan to keep it or sell it.
• 1:19
  Marcia Riner | Profit Booster®: I'm Marcia Reiner, Business Growth Strategist and Profit Booster behind Infinite Profit.
• 1:24
  Marcia Riner | Profit Booster®: Each week, I bring practical strategies, expert insights, and real-world steps to help you grow revenue, improve margins, and build a stronger business.
• 1:34
  Marcia Riner | Profit Booster®: By the way, today's episode is sponsored by Infinite Profit, where strategy turns into profitable growth.
• 1:41
  Marcia Riner | Profit Booster®: But before we jump in, I have something special for you.
• 1:45
  Marcia Riner | Profit Booster®: If your revenue has plateaued, or your marketing is just not producing the return it should.
• 1:51
  Marcia Riner | Profit Booster®: Then go get your free Profit Booster Growth Map after the show.
• 1:55
  Marcia Riner | Profit Booster®: In just a couple of minutes, it will help you identify where to bring in more qualified clients, and where your profit leaks may be costing you money.
• 2:04
  Marcia Riner | Profit Booster®: You can go get yours after the show at ProfitBooster.biz. And by the way, there's no sales call required.
• 2:11
  Marcia Riner | Profit Booster®: Now let's get into today's conversation.
• 2:14
  Marcia Riner | Profit Booster®: My guest today is Christine Day, a growth strategist, a fellow growth strategist, and founder of Results Today, and the author of the 80-20 Growth Strategy.
• 2:26
  Marcia Riner | Profit Booster®: Christine brings in more than 20 years of experience in senior enterprise software sales and marketing leadership, where she saw firsthand why so many companies work harder, chase more activity, and still miss the growth sitting right in front of them.
• 2:44
  Marcia Riner | Profit Booster®: She has developed a proprietary methodology and software platform that helps businesses identify their high-value clients using real business data and industry standard metrics.
• 2:56
  Marcia Riner | Profit Booster®: Her work helps leaders make smarter decisions about where to focus their time, money, and sales effort, and the resources so that they can grow with more clarity and less waste. Welcome to Profit with a Plan, Christine, I'm excited to have you on today.
• 3:13
  Christine Day: Thanks so much, Marcia. Very excited to be here. Thank you for having me.
• 3:17
  Marcia Riner | Profit Booster®: Absolutely. So, okay, first of all, you know, most of us don't get up in the morning and go, okay, I'm gonna build some software, right? What got you interested in the software industry?
• 3:32
  Christine Day: That is so true. You're not… it's not really an inspiration for a lot of people first thing in the morning. Having said that, I actually did go to uni and popped out a systems programmer and systems analyst, so, that was the original app.
• 3:48
  Christine Day: the original process that I went through. Having… but having done that, I was technical for 4 years, I literally was sitting in front of a computer coding.
• 3:57
  Christine Day: And someone tapped me on the shoulder and said, I don't suppose you really want to go into sales, you really have a knack for sales. And, like, thank God they did, right? So, it only took me 4 years of being a techo.
• 4:12
  Christine Day: To then move into sales, and that was sort of my trajectory through, enterprise software, executive roles.
• 4:19
  Christine Day: But the… the thing that got me…
• 4:23
  Christine Day: thinking about developing the 80-20 principle was actually… well, the book actually… sorry, the software came first, and then the book came after the software, and it was because I was thinking about a workshop session, and thought, there's just a lot of data here.
• 4:41
  Christine Day: And this is going to be really difficult to manipulate. I need a piece of software to do that.
• 4:46
  Christine Day: But if I… if I sort of, step back a little bit more, the reason, and the aha moment, if you like, as to why I even thought about the 80-20
• 4:57
  Christine Day: growth strategy was really around, a moment with a client of mine. I… this is a client I've been working with for over a year. We had a great relationship. We met once a month just to status check.
• 5:12
  Christine Day: But what happened was, this time they contacted me and said, Christine, I think we need to meet up. This is, like, a few… maybe about a week earlier than normal.
• 5:23
  Christine Day: I think, oh, this is not good. Why don't you come to our offices? Yeah. Why don't you come to our offices? Hmm, okay, we normally did it over, over Teams.
• 5:33
  Christine Day: So, here I am, sitting in their boardroom, and it was beautiful, overlooking Sydney Harbour, and I'm thinking, oh, this is lovely. We went through the review, just casually chatting, everything was fine, and I'm sitting there waiting, I'm thinking… they've got to be wanting to say something to me, and it came right at the very end.
• 5:50
  Christine Day: And they said, well, look, I've got to break it to you. We've actually lost our largest client.
• 5:55
  Christine Day: And I'm like, oh, that's not good news. I mean, look, it's not disastrous, but it's not great.
• 6:01
  Marcia Riner | Profit Booster®: Especially if they're heavily invested, or if it's a large percentage of their client base is that one client. That could be disastrous.
• 6:10
  Christine Day: Yeah, yeah. Look, they were large, but they also had a lot of other clients, so it's not as if it was a make or break. Having said that.
• 6:24
  Christine Day: It was a bit… a percentage.
• 6:27
  Christine Day: But the thing that got me was what they said afterwards. So they said, I know we said our ideal customer profile was high net worth individuals, but we've changed our mind.
• 6:39
  Christine Day: Oh, right, okay. We now want Manpa in the hills in the Western Sydney suburbs. We don't want high net worth individuals.
• 6:48
  Christine Day: And then they proceeded to tell me why, and this is… this is the value proposition. So, high net worth individuals are fickle. They can drop us at the moment, at a moment's notice.
• 7:01
  Christine Day: Ma and Pa in the hills stay with us for years. They tell their family about us.
• 7:08
  Christine Day: They, they grow with us. They expand and, and tell other people.
• 7:16
  Christine Day: And what they were describing was value.
• 7:19
  Christine Day: So, the value is the key.
• 7:21
  Christine Day: So there were so many things that happened to me in this moment. I suddenly realized.
• 7:26
  Christine Day: Wow. My background or my philosophy has always been data-driven, and we've discussed this, right? Everything should be data-driven. Most people think of data-driven as dashboards and that type of thing when it comes to marketing, which is important in the tactics.
• 7:44
  Christine Day: But I'm a strategist, so for me, data-driven is find the single source of truth, and make everything dependent on that. And that single source of truth has always been the client.
• 7:58
  Christine Day: But there's one… one thing that I do not, focus on as far as data-driven, and that is one opinion-based point where I ask the client, who's your ideal customer profile?
• 8:11
  Christine Day: And that was the one thing that wasn't data-driven, and that was the one thing they changed their mind on, and that was the thing that just stuffed up my entire strategy, because they changed their mind.
• 8:22
  Marcia Riner | Profit Booster®: You know, I mean, when you build a strategy to say, okay, here's the direction we're going in, we're heading down this path, we're gonna do this first, we're gonna do that first, and then third, we're gonna do this. When they shift.
• 8:37
  Marcia Riner | Profit Booster®: Then you're not only going down the left path, now you're gonna fully turn around and go down the right path with different language, different everything, because you changed who you were talking to.
• 8:49
  Marcia Riner | Profit Booster®: same product, but you changed who you're talking to, so that must have been a full flip.
• 8:54
  Marcia Riner | Profit Booster®: When you had that, but I'm sure it made much better sense to the customer going forward, didn't it?
• 9:01
  Christine Day: Yeah, absolutely. That was what made me think.
• 9:05
  Christine Day: what can I do to make sure that finding the ideal customer profile is data-driven?
• 9:12
  Christine Day: So that was my aha to create the 80-20 growth strategy. How do I…
• 9:20
  Christine Day: find out that ideal customer profile without having to rely on opinion. Now, fair enough, the opinion is based on experience, a lot of knowledge and understanding of their business.
• 9:34
  Christine Day: But it's still an assumption, it's still not data-driven.
• 9:38
  Marcia Riner | Profit Booster®: I think it's a lot of pipe dreams, too, because they're like, oh, I want high-wealth individuals, and I want to go down here, and if all the planets aligned, and the sun rose in the west instead of the east, you know, it may be, or…
• 9:52
  Marcia Riner | Profit Booster®: vice versa. In the East, instead of West. It may be, it may be better that way, but oftentimes.
• 9:58
  Marcia Riner | Profit Booster®: the data will tell you that, here's your loyalty, here's your… here's your pieces coming in. So how did you… how did you go about, without being too technical, right? Because the software is… it could be technical to build, but how did you find
• 10:14
  Marcia Riner | Profit Booster®: Who that ideal client would be.
• 10:18
  Christine Day: So, the philosophy starts with the business's North Star, or their business goals, and says, what is it you're trying to achieve? If a business wants to IPO, that could be different to wanting to take on the whole, market dominance. So, you know, if a business wants to IPO,
• 10:36
  Christine Day: They will have criteria… sorry, let me start from the beginning. So we look at what the business goals are.
• 10:41
  Christine Day: And then we, that will automatically give us some criteria that we can use. Those criteria then end up being metrics, and we use industry standard metrics, and those metrics are then applied to each of the clients.
• 10:58
  Christine Day: And that then gives us a scoring mechanism.
• 11:02
  Christine Day: To say, how well do the clients meet the business goals?
• 11:07
  Christine Day: And there's your independent, data-driven way to identify your ideal customer profile.
• 11:14
  Marcia Riner | Profit Booster®: Oh, see, that's smart. So when you turn it around that way, you're not just going, well, I think these guys could be really good for the company, or this could be really, you know, they're gonna buy these products from us, but when you look at your already existing clients and customers, and you look and see.
• 11:32
  Marcia Riner | Profit Booster®: I think that the gem there was that they're meeting your business objectives and your goals, right? This is who I want to work with, here's who I don't want to work with.
• 11:43
  Marcia Riner | Profit Booster®: these are the products that we already offer that are profitable, rather than the one-offs that maybe could feel like they might be profitable, but then they're only making this amount for a whole lot of headache, right? You're using information to make that decision.
• 12:01
  Christine Day: Voila, yes, exactly. And that's where the 80-20 comes into it, because I think most people know about 80-20. Everything we do is 80-20. You know, we expend 20% of our effort and we get 80% of return. It happens when you look at this scoring as well.
• 12:17
  Christine Day: 20% of your clients are giving you the 80% of return. So, what are the… who are those 20%?
• 12:23
  Christine Day: they're the gems, they're the gold, and then let's go about getting more of those. That's your ideal. There's no ideal customer profile anymore, because that 20% are buyer personas. Let's find out who the buyer personas are, and that's who we want more of.
• 12:41
  Christine Day: So something just… Exponential growth.
• 12:44
  Marcia Riner | Profit Booster®: Something just hit me, though. When you said that the 20% brings the 80% of the wealth that you're gonna have in your business.
• 12:55
  Marcia Riner | Profit Booster®: does that require that that 20% have to be aligned with your business, and in the right match for the company and the thing, or the things that you offer? Or… because I think if you're out of alignment.
• 13:10
  Marcia Riner | Profit Booster®: you know, maybe it's just the focus, you're not focusing on the 20%, you're focusing on the 80% that only give you 20% results. Is the alignment part of the deal, or is it the alignment part of the trouble?
• 13:23
  Christine Day: Very good question, yeah. And that's why aligning the business goals to criteria is so important, and that's why I mentioned earlier, if you're wanting to IPO, you want clients that
• 13:35
  Christine Day: are growing with you. They're steady, reliable clients. If you're looking for market dominance, all you care about is revenue, you might actually not care about profitability. There are very different metrics. So once you define your business goals.
• 13:52
  Christine Day: And the metrics come out of that.
• 13:55
  Christine Day: Then you score your clients, and they're very aligned, because they're already producing… the 20% are already demonstrating 80% of the return. You're diluting your efforts by spending 80% of your time on the ones that are giving you 20% return. You need to be focusing on the 20.
• 14:15
  Christine Day: So yeah, you nailed it. It's alignment.
• 14:19
  Christine Day: alignment.
• 14:20
  Marcia Riner | Profit Booster®: So how does one go through that kind of… that process of getting their goals? And I know that's not priority for what you do, but it's also kind of the framework, because if you're not looking at your goals properly, you're going to be spending that 80% of time versus the 20%.
• 14:34
  Marcia Riner | Profit Booster®: So, what kind of, what type… what kind of criteria are you looking at to determine what your goals are? Because, I mean, you and I both talk to a lot of business owners. They don't know where they're going, right? And if they do, it may not be the right place.
• 14:47
  Christine Day: Very true.
• 14:49
  Christine Day: Very true. And you're right, we don't want to get too much opinion based on this, right? Because there's always going to be a point where we're putting it… we're putting opinion onto it. But yes, this is a point where we say, so where is the business going? Most people need to have
• 15:05
  Christine Day: A proper business plan and business goals.
• 15:09
  Christine Day: I make sure that a business is in its inflection point before we engage, and I call it the… the value inflection point. The value inflection point is when you have, you've been in business for a while, you've experienced a lot of different things, you've got a number of different clients.
• 15:29
  Christine Day: you've got enough clients to be able to… to do this, where you actually have to score them and find out where you're going. So, it's typically not a startup, it might… it's typically an organization in scale-up mode.
• 15:43
  Christine Day: And once you're in scale-up mode, you've experienced enough to understand what your business goals are, with obviously assistance from people like you and I.
• 15:52
  Christine Day: Who can help them find out where they want to go, and how to then create the metrics.
• 15:58
  Christine Day: to define the goals in metrics. You typically look at goals, that's going to pop out with a set of criteria. That criteria will then be translated into industry standard metrics, and I'm talking things like.
• 16:13
  Christine Day: customer profitability, customer lifetime value metrics that industries understand. So it's not just, you know, let me just stick a finger in the air, and is it, you know, how much revenue is this customer, generating?
• 16:29
  Marcia Riner | Profit Booster®: They're looking at only top line and not looking at the bottom line, you know, they're only looking at how much… oh, I got paid X this month, you know, off of this client, but not looking at all the expenses that eat all those things up, right?
• 16:41
  Christine Day: That's the key, cost to serve. Most people do not look at cost to serve per client. And the other big issue is systems don't allow you to do this at the client level. Customer lifetime value, cost to serve, all these metrics.
• 16:56
  Christine Day: people use in their business, but it's always at the top level, at the client… at the account level, not the specific client. So, you've got one number for customer lifetime value. You don't have it per client.
• 17:12
  Marcia Riner | Profit Booster®: Right.
• 17:14
  Christine Day: That's what my software does. It normalizes everything, it grabs information from lots of different sources, and then scores it per client, rather than for the entire organization.
• 17:24
  Marcia Riner | Profit Booster®: So that's really valuable, to be able to look at that kind of detail, to be able to make really, really good decisions off of it. But like you said, most people are looking at the big picture. What happens when you look at the big picture and you make a decision versus looking at the small, you know, the minute details and making a decision?
• 17:43
  Christine Day: Yeah, good question. So, when you are doing that analysis, which most people do at the top level, you're getting everything averaged out. So, you're not seeing that 20% of your clients are generating 80% return, and you're going, oh, we're doing well!
• 18:00
  Christine Day: Look at our customer lifetime value, it's fabulous! Where in actual fact, if you lost a few of those in your 20%, it's going to have a significant detrimental effect on the business, and the figures don't show that. So, you're thinking your business is running beautifully, whereas you're actually risking quite a lot.
• 18:21
  Marcia Riner | Profit Booster®: Wow, truth bomb right there.
• 18:24
  Marcia Riner | Profit Booster®: When you're looking at those big numbers and you don't drill down into the details, you think your business is doing well, and it might not be doing as well as it could, or you could be running down a river looking for a waterfall when your client goes away, when that one client that happens to be in the juicy 20% falls off.
• 18:47
  Marcia Riner | Profit Booster®: So…
• 18:48
  Marcia Riner | Profit Booster®: That's a huge… that's a huge risk that is unseen. So why aren't businesses looking at the unseen more?
• 18:58
  Christine Day: I think everyone knows about 80-20, the Pareto Principle, and there are lots of books that are written on it. 10x is… is greater than 2… is easier than 2X, by Benjamin Harvey and, oh, mental blank, Dan Sullivan.
• 19:16
  Christine Day: It's a big one at the moment. Everyone's reading it, and it's inspirational, it's really well written. There's also, the 80-20 principle… now I need to get this right, Perry…
• 19:31
  Christine Day: Perry Matthew, I think, is his name. Perry Marshall. Perry Marshall wrote 80-20. So everyone talks about them, but when you read into them, they basically say, so find your 20%, and just focus on your 20%, and everything will just work out.
• 19:49
  Marcia Riner | Profit Booster®: Assuming you can pull it out of your books easily, right?
• 19:53
  Christine Day: Yeah, yeah. They don't tell you how to do it. There's no specific, rigid.
• 19:58
  Christine Day: methodology or principle to find that 20%. They assume you know them. And that's the problem, another assumption, here we go, assumptions again.
• 20:07
  Christine Day: So you do assume, you think the loudest clients are the ones that are the best. The ones that are giving you the most revenue are the best, and they focus on those.
• 20:17
  Christine Day: But as you pointed out earlier, that might not be the most profitable client. They might… the cost to serve for those clients is probably going to be far outweighing the profitability.
• 20:29
  Christine Day: For some more quieter, smaller clients.
• 20:33
  Christine Day: So, you can actually fall into some traps by not looking at it thoroughly enough, and not having a methodology in a focused way to find that 20%. And what to do with the 80%? No one tells you what to do with the 80%.
• 20:48
  Marcia Riner | Profit Booster®: That's right, we haven't even talked about what to do with the 80%. So, Christine, what can we do with the 80%?
• 20:56
  Christine Day: Well, books like, 10X is easier than 2X, so yeah, just get rid of them.
• 21:02
  Marcia Riner | Profit Booster®: Okay, so in reality, I don't know, I don't know what business owner will just go, oh, sure, go ahead, I don't need you anymore. They're driving from fear, so they're gonna hold on to that 80% as long as they can, hoping that they'll be able to transition or flip them into the 20%.
• 21:21
  Christine Day: Yeah, which doesn't happen. I mean, people show their… organisations show their characteristics already. A vendor is not going to be able to change that.
• 21:31
  Christine Day: So, yeah.
• 21:33
  Christine Day: I go through 3 different options. It really depends on whether your business sells, reoccurringly, or sporadically.
• 21:43
  Christine Day: Or on a one-off basis. Now, look, if you sell one-off, great, that's fine. You're a real estate agent or a, finance broker or something like that, where you… you have a one-off sale.
• 21:54
  Christine Day: Actually, that's not true. Finance brokers have long-term relationships, but real estate agents typically might have one-offs.
• 22:01
  Christine Day: And that's great to then focus on the 20%.
• 22:04
  Christine Day: But in SaaS businesses, and most service-oriented businesses, most organizations that are SMB-style businesses have clients and relationships that they carry on for quite some time. So.
• 22:22
  Marcia Riner | Profit Booster®: The good ones do.
• 22:23
  Christine Day: the good ones do. The first option is obviously to look at your 20%, find the characteristics that are important, and find out what your buyer personas are.
• 22:35
  Christine Day: create a laser-driven sales and marketing strategy to find more of those. Now, that's number one. You do that regardless. Your sales and marketing is now targeted to the 20%. So, it's a bit of a no-brainer, right?
• 22:50
  Marcia Riner | Profit Booster®: In theory, yes. In action and results, no, but yes. In theory, yes.
• 22:57
  Christine Day: Not much, not…
• 22:58
  Marcia Riner | Profit Booster®: many people try the correct theory on it. I mean, I feel like I'm bashing today, but I'm not meaning to. But so many people miss the obvious.
• 23:08
  Marcia Riner | Profit Booster®: And then they go chasing squirrels and shiny objects because they think, without data, they think and assume and make, make opinions, as you say, and chase something that they shouldn't, when all you have to do is follow the data.
• 23:23
  Christine Day: Yeah, that's so true. Look, I have to admit, the process makes it easier, because once you have objective metrics, where the management team have bought off and signed off on and distribute throughout the organization.
• 23:40
  Christine Day: People get it. So, you don't have your services team working against a different line of KPIs to sales team, two finance teams. Everyone has the same set of KPIs. It actually is easier. Salespeople like talking to the 20%.
• 23:56
  Christine Day: Because the 20% typically value the organization more than the 80%. Life becomes a lot easier. We have a very laser-focused way with which we're going to market and sell.
• 24:08
  Christine Day: And everyone's singing out of the same hymn book. It is actually easier.
• 24:13
  Christine Day: So, that's one positive, if you like.
• 24:16
  Marcia Riner | Profit Booster®: Yeah, that's definitely a positive. When it makes business easier when, you know, that's, of course, it's always better that way. And I think, like you said, you know, it just feels right, because everything lines up, it's a natural conversation.
• 24:31
  Marcia Riner | Profit Booster®: The people are already interested, things are moving in a logical, natural process.
• 24:37
  Marcia Riner | Profit Booster®: Versus trying to fit the square peg into the round hole with the 80%, going, hey, come on, come over here, let me persuade you, let me, let me, let me dangle something in your, in your face to get you to come over, when.
• 24:52
  Marcia Riner | Profit Booster®: maybe, maybe not, and they're shopping price, and, you know, I mean, we can go down many ways of how hard it is to get a customer, but when you're talking to your 20%,
• 25:02
  Marcia Riner | Profit Booster®: They're more… they're more apt to buy, and buy again.
• 25:06
  Christine Day: Absolutely. You nailed it, Marcia. Absolutely. So true.
• 25:12
  Marcia Riner | Profit Booster®: I love it, I love it.
• 25:13
  Christine Day: Back to the 80%. So, number one.
• 25:16
  Christine Day: Focus on sales and marketing for your 20%, no-brainer. Number two,
• 25:22
  Christine Day: just let them go. I mean, we don't want to be doing that. Number three, create… so, one thing that 10X is easier than 2X does talk about, and it is true, is the 80% are draining your good people from focusing on the 20%.
• 25:41
  Christine Day: So, try and find a way to separate. Maybe you have an A team and a B team. So, the A team's focusing on the 20%, the B team's focusing on the 80%.
• 25:53
  Marcia Riner | Profit Booster®: Let go of the 80%.
• 25:55
  Christine Day: Yeah, so they're still there. Maybe, and this is obviously in, in support. So, sales and marketing are focusing on the 20%. As I said, that's a bit of a no-brainer, but what about the rest of the organization?
• 26:07
  Marcia Riner | Profit Booster®: Right.
• 26:07
  Christine Day: And now we're talking about the rest of the organization. You might have a different business unit, you might have an A and B team, you might have a completely different business. Maybe you open up a separate business to focus on the 20%.
• 26:23
  Christine Day: So, segregation is one of the options. And then the other option is to change your pricing. Now, you… because you now have objective information, data, talk is telling you that this 80% are costing you more.
• 26:41
  Christine Day: So maybe you translate that into pricing, whether it's the initial price, whether it's delivery price, whether it's support price. In some way, you can.
• 26:52
  Christine Day: Change pricing, and change the way things are working within your business.
• 26:59
  Marcia Riner | Profit Booster®: It's actually really smart. When I think of pricing, you change the pricing to match the need and stuff, but if you're… if these 20% are already loyal, raving fans, you know, either you reward them by keeping the price steady, you don't necessarily have to reduce it, and then those other ones, you increase the price in one way, shape, or form.
• 27:20
  Marcia Riner | Profit Booster®: Because they're costing you, and they're stressing you out, and either they self-select them out, or they learn how to become a good 20%-er, right?
• 27:30
  Christine Day: Voila. Yes.
• 27:32
  Marcia Riner | Profit Booster®: Exactly. Good stuff.
• 27:34
  Marcia Riner | Profit Booster®: Good stuff.
• 27:35
  Marcia Riner | Profit Booster®: Love it. Okay.
• 27:38
  Christine Day: Sorry.
• 27:40
  Marcia Riner | Profit Booster®: Oh, I was gonna say, you gave us 3 really good ideas there. Are there more that we can do?
• 27:45
  Christine Day: But this is why your original question is, why do people not implement the 80-20 principle? It's because we've never had this conversation. Everyone talks about 80-20, and they go off and find your 20%, and just get rid of your 80%, but no one's willing to do that, right?
• 28:04
  Marcia Riner | Profit Booster®: Nobody will do that. I don't know any business out there that's gonna go out and fire 80% of their clients, their customers. I just… it just… not gonna happen.
• 28:14
  Christine Day: And also, you don't know how to find your 20% in a way that's really going to be successful.
• 28:19
  Christine Day: So, that's another reason that people stumble. So, hopefully now we have the methodology, foundation, and steps and software to do that. So, my software actually does it for you, but you can read the book and do it yourself.
• 28:34
  Marcia Riner | Profit Booster®: Sure, if you… if you have the ability to comb through the numbers yourself, and honestly, if you have time, of course you should read the book, yes, absolutely. But if you have time to comb through the numbers yourself, or you have people that you're gonna pay to comb through the numbers for you, that's not necessarily your best use of your money and time and energy of your customers, or of your employees.
• 28:57
  Marcia Riner | Profit Booster®: When you can have them optimized and running better, so why not use software To do that.
• 29:03
  Marcia Riner | Profit Booster®: I mean, to me, that's a no-brainer. Yeah, that's definitely a no-brainer. So tell us more about your software. What kind of information do I need to put into that software to make it run properly?
• 29:17
  Christine Day: Yeah, yeah, good point. So, it really depends on the criteria. So, I, have interfaces to finance systems, to CRM, to help desks.
• 29:30
  Christine Day: So, because that's the type of data that we need.
• 29:33
  Marcia Riner | Profit Booster®: Good, so it's not manual entry. It's not like, oh, I have to put this in here where error could occur. You actually link into my CRM, into my accounting, into my… into my already existing operating systems to pull that data, right?
• 29:46
  Christine Day: Yes, exactly.
• 29:48
  Marcia Riner | Profit Booster®: Good. Yes.
• 29:49
  Christine Day: and then normalize it to the client level, which is typically not… doesn't happen. The normal systems that you have will… everyone's got a different client identifier. The information typically isn't aggregated. It takes quite a lot of normalization and work.
• 30:06
  Christine Day: To get that information to a point where we can bring it all together and create those metrics at the client levels, and that's what the software does.
• 30:15
  Marcia Riner | Profit Booster®: Okay, so…
• 30:17
  Marcia Riner | Profit Booster®: So once we get to that client level, what is it… what is the data going to tell me? Will it give me demographics so I can go out and duplicate those people? Or is… what kind of information is the software going to tell me once they… once they identify the 20%?
• 30:32
  Christine Day: It basically scores your clients according to the criteria that we have, created.
• 30:39
  Christine Day: So you literally get all your clients with a ranking.
• 30:42
  Christine Day: And you'll notice that there'll be the… the 20% will be sitting up here, and then all of a sudden it'll just drop. The scoring mechanism will just drop to the 80%. So then we grab that 20% top-scoring client, the high value… they're the high-value clients that I talk about in the book.
• 31:03
  Christine Day: And… and look, it might be 18%, it might be 22%, it might not necessarily be 20, but… Nobody knows!
• 31:13
  Marcia Riner | Profit Booster®: But it'll start to… it'll start to give you a visualization of, oh, that's why that company is so easy to work with. Oh, that's why Bob and Sue Smith are such great clients. That's why, right?
• 31:26
  Marcia Riner | Profit Booster®: Be like a smack in the face, right?
• 31:29
  Christine Day: Yeah, you nailed it.
• 31:31
  Christine Day: It's surprising. Most business owners go, I know who my 20% is, and then you run this, and it's like, oh, that's not who I thought it was gonna be.
• 31:39
  Marcia Riner | Profit Booster®: That's amazing. That's amazing.
• 31:44
  Christine Day: And then we look at that 20% and say, now, what is the criteria that is similar here? And that's when we create buyer personas, and we create buyer personas and get to know those clients intimately, and that's where
• 31:58
  Christine Day: Our normal day-to-day interaction comes in, where we talk to our… those… those buyer personas. We get to know them in incredible depth.
• 32:08
  Christine Day: So we know everything about them, how they make decisions, where they go to make decisions, what stops them making decisions, what objections they come up with, absolutely everything. And then we create the growth strategy based on that. And that's the blueprint that we use to take to sales and marketing. And we get sales involved
• 32:27
  Christine Day: All the time. So, my background in sales makes me, naturally drawn to them anyway. So all the workshops we do, all the information that we build together is built with sales.
• 32:42
  Marcia Riner | Profit Booster®: I love it. And then, then, all the magic happens, because you're talking naturally to the type of person who would naturally want to do business with you. And that, to me, just seems like the perfect alignment
• 32:56
  Marcia Riner | Profit Booster®: from the start, rather than having to, again, put the square peg under the round hole, with the other folks. So, what… what a beautiful process this is, and…
• 33:09
  Marcia Riner | Profit Booster®: I mean, I can clearly see the advantages and the potential results that would come out of this. So, wow.
• 33:17
  Marcia Riner | Profit Booster®: All right, Christine, I know we can talk forever on this, and we have such similar backgrounds that we can, definitely go down some rabbit holes, but where can listeners find out more about you and the software to help them be able to dial in that 20%
• 33:32
  Marcia Riner | Profit Booster®: So that they can work smarter, not harder. They can have more…
• 33:37
  Marcia Riner | Profit Booster®: Effective conversations with their ideal clients.
• 33:42
  Christine Day: Sure. So my website is www.resultsto, the number 2, day.com.au, because I'm in Australia. So that's resultsstoday.com.au.
• 33:56
  Christine Day: And right now, I've got an offer for anyone that's listening. If you'd like to get an excerpt of the book, you go to resultsstoday.com.au backslash sample.
• 34:09
  Christine Day: And you can download a sample of the book, which gives you a summary of everything we've spoken about today. It's, it's the beginning of the foundation, if you like, so I'll give that to you one more time. It's resultsstoday.com.au slash sample.
• 34:28
  Marcia Riner | Profit Booster®: Got it. And that will be in the podcast notes, so if you… if you… if you were driving and you didn't catch it, you'll definitely be able to go online and find it out for you, and that's really valuable, so thanks, Christine. I know that, you know, we…
• 34:44
  Marcia Riner | Profit Booster®: We continuously, as business owners, you know, we're trying to chase clients and put out fires, and we're trying to do things, and try and try and try, and you know, when it just naturally moves forward, and we can take that natural progression and multiply it.
• 35:02
  Marcia Riner | Profit Booster®: That's where growth occurs, and then once that growth occurs, we're gonna hit that breakpoint where we need to scale out. Why not do it with this methodology and knowing who exactly is your perfect customer.
• 35:18
  Marcia Riner | Profit Booster®: that will really make your business easier, more profitable. I mean, we can go on and on and on, make your team happier, you know? I mean, everything just naturally aligns, and I think that's where that 20% falls into. So, I would encourage you, everybody, to go get Christine's book.
• 35:37
  Marcia Riner | Profit Booster®: Check out the software, see how you can make your business a lot better.
• 35:42
  Christine Day: Okay, Nasia.
• 35:44
  Marcia Riner | Profit Booster®: Absolutely. Well, thanks for tuning in today, everybody. I hope you're walking away with some really practical, really, really practical ideas that you can put to work right now to grow your business, make it more profitable and more valuable.
• 35:58
  Marcia Riner | Profit Booster®: And before you go, if you want a clearer path to more revenue and stronger profit, go grab the free Profit Booster Growth Map. It will quickly show you the top opportunities to grow revenue and stop those profit leaks that may be holding you back.
• 36:15
  Marcia Riner | Profit Booster®: And you can go get yours at ProfitBooster.biz.
• 36:19
  Marcia Riner | Profit Booster®: And, it's… it should be… it should complement very nicely what Christine's talking about, and then when you can dial in those customers, this kind of leverage will really take off.
• 36:30
  Marcia Riner | Profit Booster®: And if this episode brought you some value today, be sure to subscribe and share it with another business owner who needs to hear it.
• 36:38
  Marcia Riner | Profit Booster®: Well, I'll be seeing you next week with more strategies to help you grow smarter and profit stronger. So until then, make your plans and profit with them. Thanks, Christine.
• 36:48
  Christine Day: Thank you, Marcian.