Can You Avoid Bad Business?

It's been a busy month at Creating the Freelance Career. Three clients have books being published this month. Jill L. Ferguson's eleventh book, Voice of Love, was published last week. We have signed a number of new clients, and we had to "fire" one. And that last bit brings us to this month's guest post by money and women's business coach Debbie Page.She writes:

It's happened to us all. Taking that client that we knew we shouldn't have. Doing that deal just one time. Just t h i s one time.

Most entrepreneurs I know admit to doing more of this early in their journey, and many will still say that at least once a year they did that deal, project or took that client in spite of KNOWING it wasn't the right fit. 

As I've considered why this happens it always comes down to not having a documented vetting system, checklist or process that assures them the right thing to do. To not take the client or project.

Here are three ways you can ensure you don't take the wrong client or project anymore. 
​Create an ideal client profileThis should include demographics and psychographics as well as characteristics, traits and attributes you know you work well with in your work (PS - this also helps guide your marketing efforts). If you've never done this, start by taking the 3 best clients/projects or deals you've ever done and write out what made each one individually so perfect. Once you've done that for each client/project look for the commonalities amongst all of them and begin building your profile. 
Have qualifying questionsYou are interviewing your prospects as much as they are interviewing you. Have 2 or 3 questions that get to the heart of how you evaluate how they might be a fit...or not. In my coaching practice I always ask potential clients to describe a time they worked with a coach and what worked and what didn't and how they want their next relationship to be different. If I hear a lot of "they didn't do..." it becomes concerning that perhaps this is someone who is not ready to take the accountability for the actions necessary to be CEO. 
Script out why they are not a fitIf you think this conversation is hard, think back to the one you had to have to end a bad business relationship you never should have started. Having the words to use to let a prospect know that they aren't right for your product or program or service reduces the likelihood that you are going to end up in a deal that shouldn't happen.

Mine goes something like this; "I really enjoyed our time together today and learning about your business. As I listened to where you are in the evolution of your company, I don't think we're a fit. What I'd recommend is (give them a couple of resources or actions to take) that will lead you closer to the better fit for you and your search for a coach. I appreciate you taking the time to reach out and I wish you the very best in your business."

As the economy continues to evolve during our current world situation I don't want to see small business owners slipping back into taking any deal just to get some cash. Remember a bad deal is worse than no deal.