Take off from day one.
New partners and directors have to face the challenge of building a new practice from day one. They need to build a pipeline of sustainable work. For many, they have had no previous experience of having done so before. Most are promoted due to their technical expertise (in law, accountancy, architecture or engineering as examples). They now find that they have to be rainmakers too. This is on top of being responsible for all the work that their team delivers. To assist with this need, we developed the “BD & Marketing Practice Start-Up” service.
The feeling of having to build a sustainable practice or service line within the next 3 years is a daunting one. The main question most people ask themselves is “Where do I start?” Some have built a successful business through content marketing (writing articles and blogs). Others have achieved this by hitting the speaking and seminar circuit hard. Some professionals build practices through relentless coffee meetings with prospective clients. Many achieve it by doing a whole mixture of different activities.
It isn’t only new partners and directors who feel like this. Established directors or partners can also have these concerns. This is particularly the case when their practice has stopped growing. Having reached a certain revenue level, they are struggling to grow it further.
We have worked with many new partners and directors and some struggling ones too. From this experience, we have developed a tried and tested coaching method. The first thing we do is create a practical BD & Marketing plan tailored to your needs. This provides each individual with an actionable strategy. It also provides the firm or business with a written document of that partner’s key clients. This is vital for the firm/organisation in maintaining these clients, if the person moves on.