Conventional wisdom for lawyers suggests that we’re fast approaching a moment when the die for this year will be cast, and there’s not much that can be done to impact this year’s revenue picture.
Before you buy the idea that there is nothing to be done that might increase revenue this year — not to mention, jumpstart 2024 — can we talk.
Continue Reading You Still Have Time To Grow Your Practice This Year. Do These Three Things.
Wherever business development initiatives aren’t delivering ROI in the form of increased revenue, the problem often boils down to missing the target more often than not.
It is easy to do.
An entire industry has a vested interest in convincing you that getting your name out there amounts to smart business development. Once you make this leap it is tempting to buy the ads, sign up for the sponsorships, get the copy points and colors just right on your website, catalogue every capability…and then wait for the market to beat a path to your door.
If neither time or budget is an issue, and assuming your visibility campaign in some way differentiates you from everyone else — this might work.
But odds are you’ll over spend, waste time and miss connecting with any real targets.
Continue Reading When BizDev Efforts Fail To Increase Revenue, You Have An Aim Problem
Whether you are marketing a professional service, selling a product or seeking support for a cause, four questions provide the framework for increasing revenue.
Any discussion of business development should begin with this disclaimer:
There are no one-size-fits-all solutions or formulas. Silver bullets and cookie-cutters might work elsewhere; but not here.
With that stipulation, there are solid cornerstones that will ensure the resources invested in BizDev aren’t experimental in nature, leaving you to hope the market finds you.
In fact, a volatile market or a distaste for “selling” notwithstanding, it is possible to create an approach to business development that produces results — if you possess the will to build a plan on these four cornerstones.
If business development efforts are consistently slow-going, there’s a good chance the issue is related to smart targeting. Specifically…the lack thereof.
Here’s a quick exercise. Pull out your business development plan and check for two things:
If you’re light on the first, and/or there’s a lot of activity that doesn’t eventually map to a decision maker, we may have identified the problem: your plan isn’t target-driven…which means you’re stuck hoping your efforts connect.
Continue Reading If You Want To Jumpstart Business Development, Here’s Where To Start
If you’re like most professional service providers I know, the motivation behind your choice of profession had nothing to do with a desire to get into sales…never mind being required to sell in order to do what you set out to do in the first place.
The real-world result of this is a “two-hats” dilemma — requiring one hat for your role as a business builder and a second one as a service provider.
Business development feels like it requires a personality, skill set and tool kit completely different from those associated with the counsel or service you provide.
How do you find prospects? How do you manage your time and create new growth opportunities?
The good news is that there are productive business development strategies that relieve this stress and bridge the disconnect.
The key is to create an approach to business development that grows out of the way you serve your clients. Do this and building a practice becomes much more organic.
Where To Begin
Continue Reading Stressed Over Business Development? Relax, You Don’t Need More Prospects
In a noisy, competitive and topsy-turvy marketplace, what is the key to capturing the
Continue Reading Here’s What Drives A Prospect’s Choice of Service Provider
This post was originally published by CMO-Whisperer.com.
I admit it — I’m teetering on the edge of stir crazy. Some days it doesn’t take much to push me over the edge. But— and I’m about to insult some very good seventh grade writers — an avalanche of middle-school-level headlines attempting to capture my attention have set me on edge.
Continue Reading Glazed Over Eyes Don’t Count As Impressions
This post was originally written for and published by CMO-Whisperer.com.
Even if you aren’t familiar with the setup, you know this is a joke. Marketing and sales can barely stand to be in the same conference room on some days. No way they’re going to drop into a happy hour together. Even if it’s virtually, via Zoom.
Here’s the punchline: While marketing and sales squabble over resources, debate who should be held responsible and who should get credit, the leverage and growth to be gained in alignment is lost.
And that’s no joke.
Continue Reading A Marketer and a Salesperson Walk Into a Bar…
Years ago I worked with a Managing Partner who regularly referred to the Marketing Department
Continue Reading Is It Marketing, Or Is It Sales?
