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This week, I want to challenge your thinking around the concept of the “ideal client” — a term that’s central to my Can I Borrow Your Car? referral methodology. If you’ve followed my work or attended my sessions with the Exit Planning Institute, you know I believe the definition of an ideal client isn’t static. It evolves as your practice grows, your expertise deepens, and your vision for your business matures.
What Makes an Ideal Client - Really?
Within our referral system, ideal clients aren’t just profitable. They’re enjoyable to work with and, crucially, they become active participants in your referral ecosystem. In my model, an ideal client is someone who:
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Delivers significant value to your firm (profitability)
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Is a pleasure for you and your team to serve (enjoyment)
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Has referred at least once — making them a true center of influence
It’s not enough for a client to be a revenue generator or a joy to work with. If they aren’t helping you grow through referrals, they’re not fully “ideal” in the context of a thriving, sustainable practice.
Ideal Clients Change as You Grow
Early in your career, “ideal” might simply mean “anyone who pays the bills.” As you gain experience and stability, your standards rise. You start to align your client base with your long-term goals: predictable profits, sustainable growth, and ultimately, transferable enterprise value.
The truth? The client who was ideal when you started out may not be ideal now. That’s not a failure — it’s a sign of your evolution as a business owner. As your practice matures, so should your definition of ideal. Your standards for profitability, engagement, and referral activity must keep pace with your ambitions.
Managing the Transition: Legacy Clients and New Standards
One of the hardest parts of growth is reconciling loyalty to early clients with the needs of your current business. Some legacy clients may no longer fit your ideal profile, but their historical value — especially as referral sources — can be immense.
Here’s what I recommend:
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Track referral activity meticulously. Don’t let a spreadsheet blind you to the true value of a client who, while modest in direct revenue, has referred multiple high-value clients. Their “generational” value may far exceed their annual fee.
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View great referral sources as mini-family offices. Their network and influence can create multiple revenue streams for your firm.
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Plan for transitions with care and compassion. When it’s time to shift legacy clients to a different service model, do so with gratitude and transparency. Your culture — rooted in care, self-awareness, and discretion — should guide these decisions.
Redefining “Ideal” for Today and Tomorrow
As your business goals shift — whether that’s scaling, succession, or maximizing enterprise value — so must your client criteria. Ask yourself:
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What is the minimum annual revenue per client that supports my current and future goals?
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Which client behaviors and attitudes align with my firm’s culture and vision?
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Who are my true centers of influence, and how am I nurturing those relationships?
Don’t be afraid to raise your standards. Sometimes, the gap between where you are and where you need to be becomes the catalyst for making tough, but necessary, decisions.
The Takeaway: Ideal Is a Moving Target
Your definition of an ideal client should be dynamic, not fixed. As you progress from advisor to leader to enterprise owner, revisit and refine your criteria. Use your referral system as a lens — not just for who you want to serve, but for who will help you build a business of enduring value.
Remember: In the Can I Borrow Your Car? methodology, care and compassion are at the heart of every referral — and every client relationship. Lead with generosity, measure true value (not just revenue), and you’ll find your practice attracting the right clients, the right referrals, and the right opportunities for growth.
Here’s to building a waiting list of clients who can’t wait to work with you — and to becoming the obvious choice in our industry.
Related: The Collaboration Myth: Why We’re Not All Speaking the Same Language