How does defining an audience increase opportunity?

2024 can be one of your best years to reach new markets BUT only if you learn what most CEOs, founders and leaders don’t want to do. Remain focused on long term goals by defining your vision, mission and audience. In 2023 I noticed this level of focus is really difficult for many leadership teams. I’m talking really friggin difficult—and it negatively impacts their marcom efforts.

When leaders are easily distracted by what they think are new business opportunities, everything goes to crap. What does it look like? Great question.

A distracted founder/CEO looks like:

1. Leader Chases new revenue opportunity.
2. Team loses focus on their bread and butter.
3. Vendors and clients also lose focus on bread and butter.
4. Clients become confused on value prop. and find others who specialize.
5. Vendors and collaborators also become confused and hold businesses referrals, awaiting clarity.
6. REPEAT: leader chases new revenue opportunity to replace lost business.

What a focused founder/CEO looks like:

1. Identifies company vision / mission / audience.
2. Immediately declines new opportunities that don’t align.
3. Team remains focused on vision/mission/audience they serve. No lost momentum.
4. Vendors and clients understand and can communicate your value to business community.
5. New business closes due to consistent brand messaging that’s easy to remember.

In 2024, distractions will abound, but chasing them won’t bring you more revenue. If you’ve plateaued, chances are good you’ve lost your focus. The fix is writing down your vision, mission and audience (VMA) but more many founders and CEOs are scared of this step.

How tightening focus on audience enlarges opportunity.

Marketing leaders, CMOs, comms people, and truthfully all your staff require a solid vision, mission and audience to perform. Many founders resist however. If they do comply, they may leave things intentionally vague or broad. Why? They’re concerned stating a VMA will limit opportunity. Not only is this view incorrect—but the inverse is true.

When you, as the leader of your organization, focus on a specific VMA not only do you win new clients that align, but you also empower non-aligned clients. It’s pretty cool to watch this in real life.

Declining opportunities that don’t align with your VMA strengthens your brand message into new networks with every “no.” That is, as long as your reasons are clearly stated for not working with someone. The non-fit clients are now empowered with three tools that convert them into 24/7 opportunity hunters for you—they don’t even know they’re doing it.

Side note: here’s how to write a vision and mission statement. Get going today. It’s easier than you think.

The three tools

Tool #1: Non-fit clients know what value you provide.

Tool #2: Non-fit clients know your ideal audience that will pay for what you do.

Tool #3: Non-fit clients know how to communicate your value.

If your VMA (Vision, Mission, Audience) is unique and well-defined, you will occupy a unique space in everyone’s head meaning your goals will be clear in everyone’s mind. Again, this empowers non-fit clients as 24/7 opportunity hunters on your behalf.

Yes, you will decline projects you could make money on. But if your VMA is tight, the conversation you had when you declined the small chunk of revenue will bring in way more business over the long term as you empower more strategic allies.