To the degree that it is human nature, it is understandable. On the other hand, to the degree that it is a distracting resource drain, it significantly limits effective business development. “It” is the search for a Silver Bullet. From social media to the newest technology, from what’s hot in creative execution to the flavor-of-the-month … Continue Reading
At some point, on some topic, almost everyone will have a moment of clarity worth sharing. The challenge, at least as it relates to productive dialogue, is that many of us believe the frequency and scope of our insight is so grand as to warrant the lion’s share of attention in any given room. But … Continue Reading
If you want to test the viability of your approach to business development (or maybe even the quality of your most valued relationships), few questions will reveal more than this one: “Have I built a bridge to the next conversation?”. When considering business development and marketing efforts in today’s environment, the temptation — in fact, … Continue Reading
“Describe your ideal target client,” I asked. After shooting me a look that said that is the dumbest question I’ve ever heard, the law firm partner said, “My ideal client is the next person that walks into my office or calls me on the phone in need of a lawyer.” Translation: “My market comes to me.” … Continue Reading
If you’re marketing something, you’re likely investing resources in the development of connections. Social strategies, networking events, content marketing efforts…there is a long cafeteria line of tools, strategies and processes designed to get you connneted. Then what? Business development is about relationships. Not connections. Or fans. Or followers. Real honest-to-goodness-relationships. Today’s tools make establishing a … Continue Reading
Everyone has experienced a client / customer experience nightmare. Call it whatever you like; the fact is that almost every enterprise is going to have a bad day. What is done in the wake of the experience is the real stuff of being client / customer centered. The Bad Experience Since the first time we … Continue Reading
There are four ways you’ll acquire work and build a professional services practice in 2017. You’re already connected to someone who knows you and is inclined to use the services you provide; You are plugged into a group (network) that connects you and will refer or outright recommend you to someone in need of your … Continue Reading
If you’re considering a deeper dive into social media for business development punposes, are attempting to evaluate your current investment in social, or are among those just now waking to the reality that social media is actually out there changing the market, this post is for you. And it is a response to the fact … Continue Reading
Several years ago Fred Reichheld, among others, began working on a conversation and a system that would prompt organizations to rethink clients / customer relationships. In his book, The Ultimate Question (now available in an updated 2.0 version), the discussion zeroes in on what the author defines as the ultimate measure of loyalty — whether a … Continue Reading
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
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
The game show Jeopardy has had it right all along — knowing the right question is the way to win big. Conventional wisdom argues the point. And most of the time we buy into the argument. In virtually every venue — from personal relationships to building a productive professional network, from pitching a pizza franchise to … Continue Reading
If you are wondering what it takes to fill the pipeline with work for the last quarter of the year — nevermind 2017 and beyond — two things may be true about your marketing and business development efforts: your professional network is anemic; and, as a result, you have a shortage of strategic targets. Many … Continue Reading
The development of new business rarely occurs in a vacuum. In professional service firms where marketing and business development are silos at best, or necessary evils at worst, organic growth will be painfully difficult. And there will be consistent debates over where and how to invest resources. By contrast, firms that realize measurable success — … Continue Reading
There are markets where sales is little more than a numbers game. Send enough emails, make enough calls, knock on enough doors, ask the question over-and-over, ignore objectionns, and you’ll close some deals. But you won’t build many relationships. And that means that next month…or next quarter…or next year you get to start all over … Continue Reading
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
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
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
My friend George — a veteran of the hospitality industry, and no push-over when it comes to what service looks like — was just back from a cruise during which he and his wife became customers for life. But it did not start that way. The cruise coincided with an anniversary, and George’s wife had … Continue Reading
What does it take to make it rain? Real rainmakers — the individuals able to connect with the marketplace in a way that consistently results in business — share three characteristics. They may engage in business development in a variety of ways and employ differing techniques. There are, after all, no cookie-cutter formulas that work for everyone. … Continue Reading
We have a propensity for doing whatever it takes when the chips are down. A cause or challenge seemingly bigger than our ability to manage is often the mission to which we are drawn in droves. This plays out in the way we respond in the face of disaster — like the loss inflicted by … Continue Reading
A little over a decade ago a small technology start-up was out of money, and about to give up. But a professional service group showed the entrepreneurs a way to convert intellectual property into a revenue stream; and the start-up was reborn. An eighteen month revenue stream that defied even the most optimistic pro forma … Continue Reading
“Move more. Assume less.” This was the response of a CEO friend when asked about his success in turning around a consulting firm on the brink of extinction twenty-two months earlier. Don was retiring, and he was reflective. “In the early days we were determined to meet the market at its point of need. That … Continue Reading
Successful business developers seem to have an uncanny knack of being in the right place at the right time; but when it comes to consistently making it rain, this is rarely happenstance. In fact, the epitome of strategic business development and marketing is increasingly about executing a plan that connects with those most likely to buy … Continue Reading
