Archives: Strategic Planning

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Are You Doing the 4 Things Necessary to Stand Out From the Crowd and Build a Pipeline of Future Clients?

Most professional service providers would welcome a more predictable, consistent and robust flow of qualified new business leads. Scratch that. When it comes to business development and sales, virtually every professional service provider I know is searching for an efficient way to connect with potential new clients. Marketing strategies promise it; the possibility is the siren … Continue Reading

Seven Signs Your Firm Could Be Facing Consequential Transition

Whether a new enterprise or a venerable brand, the realities of a market in transition are most likely having an effect on your firm. Responses to Altman Weil’s 2018 Law Firms In Transition Survey underscore the magnitude. 49% of responding firms failed to meet billable hour targets in 2017 59% say equity partners are under … Continue Reading

The Four Keys To Acquiring Quality Leads

Most professional service providers would welcome a more consistent and robust flow of quality leads. Scratch that. When it comes to business development and sales, virtually every professional service provider I know is searching for a way to connect with potential new clients. So much so that this is the promise of marketing strategies, the siren song … Continue Reading

The Perils of Peering Into The Future Through a “That’s-The-Way-We’ve-Always-Done-It” Lens

Vision is the lifeblood of any march toward the future. Without it, the status quo offers a comfort zone that is difficult to give up — especially when things have been pretty darn good for a very long time. Before we go further we should clarify terms. A Vision is not about a 100-word so-called … Continue Reading

What It Takes To Build A Professional Service Practice

How do you build a professional service practice? Where do you begin? How much time do you invest? What constitutes progress? In a previous post on the similarities between business development and planting a tree, we recounted the story of French Marshal Lyautey, who instructed his gardener to plant a tree that would take 100 years … Continue Reading

How To Build A Marketing Strategy That Will Deliver

Ask a dozen professionals to define marketing and you might receive a dozen different responses. From retailer to B-to-B enterprise, from service provider to widget producer, from Fortune-listed to start-up — we tend to define marketing based on what we’re selling, and who we need to motivate. But all of us, unique perspectives notwithstanding, count on … Continue Reading

If Your BizDev Plan Doesn’t Specify Targets, Don’t Expect Great ROI

Two things are often true of professional service providers wrestling with how to build a practice, and we discuss both frequently: an anemic network — which translates to a severe shortage of connections that can either hire you, or refer and introduce you to the folks in a position to do the hiring; and, the absence … Continue Reading

Breaking News — Business Development Is Not Complicated

Business development is not complicated. Hard work? Indeed…because it is, at its core, about succeeding at relationships…and we all know that almost anything having to do with relationships is hard work. But the quest for formulas, fast-fixes and a magic planning template notwithstanding, biz dev success does not reside in a silver-bullet or one-size-fits-all solution. Strategically sound … Continue Reading

When And How To Evaluate Your Business Development Efforts

How do we measure progress? What constitutes ROI on what is plowed into business development efforts? The practical challenge is that between the initial work necessary for productive business development efforts and any tangible signs of growth, it can be difficult to see the progress that is being made. This is especially true if real progress … Continue Reading

Essential Elements of Business Development Success | Part 2

If business development is causing you sleepless nights, chances are the source of much of that angst is an anemic professional network, or the absence of strategic targets. Or both. A healthy network connects you to opportunity flow. We discussed this, along with three ways to address challenges associated with “networking” in a post a … Continue Reading

Two Essential Elements of Business Development Success

We’ve said it before — business development will never be mistaken for rocket science. It isn’t even Algebra I…unless you employ the most basic of formulas — Success = X + Y. But this isn’t to suggest it is easy. Strategic business development requires a combination of factors: focus; tasks and activities that are difficult … Continue Reading

A Formula For Business Development Success

Business development in the professional services sector is not rocket science. Anyone possessing the will and the discipline to follow a simple formula can, over time, build a thriving practice. (Okay — “over time” is the hard part. Much of the time we expect immediate results.) What is this formula? {Target Identification} + {Understanding of … Continue Reading

Unlocking The (Not Too) Secret Combination For Marketing ROI

The setting was a business development workshop, and a law firm leader was raising a question: what should we be doing to get the highest value from our marketing and business development investments? The context was a familiar drill. Plans are drafted…and they gather dust. There is talk (hours of it at times) about websites, … Continue Reading

Ready To Face The Reality of Business Development?

In spite of mounds of evidence to the contrary, when it comes to marketing, business development and sales we can’t help ourselves. We cling to the hope of a viral happending that will change everything in an “unexpected” instant. Others have pulled it off. Why not us? The luck-of-the-draw . . . the right set of numbers. … Continue Reading

Four Guiding Principles If You Believe Business Development Is About Building Relationships

For a moment let’s say we really believe the notion that relationship is the key when it comes to business development for professional service providers. What do we do with that? How do you build the kind of relational equity that is at the heart of a stable practice? Warning. If you’re hoping for a silver … Continue Reading

Five Reasons Business Development Can Feel Like A Tug-of-War — And What To Do About It

There are plenty of questions about business development and rainmaking — what does it take to win…can only certain personality types pull it off…is there a secret language…or a handshake…and so on. If you wrestle with the notion, and regularly move from the promises of one silver bullet to the next with minimal success, chances … Continue Reading

Want To Have Confidence Your Business Development Investments Will Produce?

What constitutes appropriate ROI on all that we plow into business development efforts? In a post on the similarities between business development and planting a tree, we recounted the story of French Marshal Lyautey. The story underscores the fact that growing something strong takes time. The practical challenge is that between the planting and tangible signs … Continue Reading
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