Crafting an ICP

The Framework

Step One:

The first step in creating an ICP is to identify account-level attributes. This includes both static and dynamic firmographic parameters such as industry, company size, stage, and growth. Dynamic attributes should consider recent changes in the organization, such as leadership turnover or new product releases. Keeping the ICP narrow is critical, particularly for early-stage companies, who should use the process of elimination to identify their ideal customer profile.

Step Two:

The second step is to map buyer roles. Reverse-engineer a key feature of your product or service and identify the job to be done. Then, map that to the individual responsible for day-to-day operations (the champion) and the person responsible for sustained long-term success (the exec buyer). It's essential to understand the role of both the champion and the exec buyer in the buying process and how they influence each other.

Step Three:

The final step is to document, validate, and iterate. Create a validation statement that includes the buyer roles, ICP attributes, and the north star metric. This statement should clearly articulate the unmet needs of your target customer and the value your product or service can provide. Outbound to your target customers and validate your assumptions through discovery calls. Use willingness-to-pay questions to gauge the perceived value of your solution.

Takeaway & Action Item:

Taking a scientific approach to crafting an Ideal Customer Profile is critical for startup success.

Resist the urge to spray and pray and focus on building a product that serves your target customer well.

Action: Use the ICP template provided to codify the entire process and keep yourself on track

The Workbook

ICP Workbook

ICP Workbook

Segment

Company Headcount

Geography

Industry (Choose one! eg: Biotech)

Triggers

Example Company Linkedin Profile (Public URL)

Primary job to be done (eg: managing reservations)

Title(s) for Champion

Example Champion Linkedin (Public URL)

Title(s) for Exec Buyer

Example Exec Buyer Linkedin Profile (Public URL)

Prompt

Column 12

Results

Primary ICP

Open

Click me

Open

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Open

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