Last time it was about getting the picture, a mentor or a buddy. There are three more resolutions that will build on this good work to help create a tide of success for you or your professionals’ business development efforts over the coming months. These are not complicated things but, if they are missing, the firm’s individual/collective success and achievement can be oh-too-easily compromised.
“I have a good reputation with the clients/partners who have the gift of work. They know where I am”
This is the better mousetrap fallacy as applied by some practitioners. In this mind-set, believing that they have a better professional gizmo than their neighbours is sufficient for the world to beat a path to their door. Except it won’t be and it doesn’t – as some have found to their cost particularly in the leaner times of the past five years.
Part of this problem is about conditioning. Lawyers, accountants, and other experts can grow up in their firms only ever being fed work and then measured on how well they complete it. By the time they are deemed to be mature, it’s a big ask to then overlay the bit that says “I must now go and win my own”. (NB This is often the point at which the mentors or coaches mentioned in Part 1 can become useful). So early exposure to the skills, practice of, and responsibility for work-winning is vital.
But ultimately, it comes down to a simple realisation for everyone. Assume nothing about what your clients are thinking or about the self-perceived excellence of your mousetrap. Proactivity in finding and delivering ongoing ways to engage with them is the key, particularly with the proliferation of communication media now available to all of us. Plan it and then do it.
So for a number of professionals, BD is not perceptibly a primary business function. If it is treated as a ‘nice to do’, the consequences for achievement and results are usually serious. Witness the plans and activity being happily implemented from Tip 1 by Practitioner A that are dropped the moment a new significant piece of work comes in, only to be taken up again perhaps months later, if at all.
Disappearing off the grid thus, it becomes extremely difficult to build any sort of momentum with clients and contacts that will deliver a stream of new future work opportunities. The solution is partly a management one: that means supervising partners or department heads delivering on their leadership remit by setting specific agendas for Practitioner A and other individuals for whom they are responsible, reviewing progress regularly against what was agreed, and providing guidance, encouragement, or sanctions as appropriate. But it is also about individuals themselves recognising their overweening deal focus (often not easy so more guidance required here) and then applying coping strategies to deal with it…
Take it bite-size
The boom/bust nature of business development implementation described in Tip 2 requires an adjustment. Instead of working flat out just on fee earning punctuated by infrequently large and indigestible ‘chunks’ of business development, allocate a small amount of time each day to BD/marketing (say 15 or 30 minutes) and stick to it. If, as often, this is about communicating with people, the beginning and the end of the day are timely periods that minimally impact on work flow and that offer the best chances of success.
Of course, there will also be BD tasks that require more time to complete but this is a good baseline to establish.