Business Development Strategy For Professional Services

March 3rd, 2011 by admin No comments »

A common problem many professional firms face is overly relying on only one approach to business development. They focus all their efforts on word-of-mouth and referrals, or on networking, or on responding to tenders/RFPs. Typically, the basket they keep all their eggs in is the one they are the most comfortable with: it’s worked for them before, they have the skills to do it, and it doesn’t push them outside their comfort zone.

This works fine when times are good and there’s plenty of work for everyone. But in tougher times, if that one source dries up, they are left stranded.

My suggestion to clients is to protect against this by always having multiple approaches to win new clients. In particular, I suggest they focus on 4 types of client:

  1. Current Clients: investing in “superpleasing” their highest potential current clients to secure their business, win expansion and extension projects, and get referrals to new clients. Typically this area uses the approaches of Client Relationship Management and Key Account Management. » Read more: Business Development Strategy For Professional Services

Business Development Consultants Are Saving Small Businesses

March 2nd, 2011 by admin No comments »

Business consultants provide the answers you need to make your business a success. They will objectively assess strengths and weaknesses and then develop a plan that is right for your business. These consultants will give you the answers you need for long-term revenue and profit. They will consistently work with you and your employees on how to use the tools they provide for you, so you and your employees will have a profitable business for the future. Just because you open a business does not mean you know how to run it. Many people have great ideas but their operating strategies need work. While there may be a simple plan that doesn’t cost too much, consultants can give you personalized marketing tips such as website ads and promotions, direct mail, or a half-page ad in the yellow pages. You, too, may have come up with these ideas all on your own. However, unlike business consulting companies, you have no idea which one of these ideas would be the best choice, or how to strategically place your ad were it will get the best results.

When hiring a Business Development consultant, you should align their skills and expertise with the area of your venture that needs the most help. For example, if you desperately need to contract the right sales force, hire a consultant with sales and marketing expertise. If you need assistance in production, then hire specialists that are manufacturing and sourcing experts in your industry. » Read more: Business Development Consultants Are Saving Small Businesses