Marcellous Curtis
Some Tips to Improve Business Development Results
#1: Train Your People: Brand Message 3 things that differentiate your firm ALL staff, admin, partners
Copyright 2009 The Whetstone Group, Inc.
Growth Tools For A Competitive Edge
#3: Don’t Say You’re SO Busy!
Copyright 2009 The Whetstone Group, Inc.
Growth Tools For A Competitive Edge
#4: Set a Detailed Growth Goal Current year revenue: Growth goal: Next year revenue: Net new business goal: One-time projects (20% of revenue): Clients losses (10-year life): Total gross new business needed:
$6,000,000 10% $6,600,000 $600,000 $1,200,000 $600,000 $2,400,000
10% growth goal = 40% gross new business! Growth Tools For A Competitive Edge
#5: “What Do You Do?” Business Needs
Benefits
Differentiators
Growth Tools For A Competitive Edge
#7: Invite the Local Business Press Seminars
Webinars
Firm Events
Growth Tools For A Competitive Edge
#8: Communicate Value at Year-End
What I get less what I have to pay
Growth Tools For A Competitive Edge
Proposal Outline I.
Prospect/Client’s Current Situation
II.
Proposed Approach (brief) Services, Process, Deliverables
III.
Benefits
IV.
Differentiation
V.
Business Case (if needed)
VI.
Fees/Arrangements
VII.
Appendix (About Us, etc.)
Growth Tools For A Competitive Edge
Copyright 2009 The Whetstone Group, Inc.
#9: Start Proposals with Prospect
#10: For Partners Struggling w/BD…
3 Clients 3 Prospects 3 COIs
#11: Evaluate ROI on Time Invested Hours Spent on Activity
24
Cost to firm/hour
$150
Total cost to firm
$3,600
Needed for 20% ROI
$4,320
Revenue required @ 30% margin
$
14,400
Growth Tools For A Competitive Edge
#12: Ask for a Referral! When a client expresses satisfaction/ appreciation
Thank and follow up
Growth Tools For A Competitive Edge
#14: Use Client Testimonials Web site
News-letters
Testimonials
Proposals
Direct Mail
Growth Tools For A Competitive Edge
#15: Control the Next Steps Deliver follow up information Schedule the next meeting, lunch, etc. Schedule time to introduce your specialist Schedule time to meet CEO “I’ll put a note in my calendar to check in…” Copyright 2009 The Whetstone Group, Inc.
Growth Tools For A Competitive Edge
#17: Communicate Target Market to Referral Sources Geography
Industry/Size Ownership, organization, etc. Growth Tools For A Competitive Edge
#18 Invite COIs, Ask to Bring Clients
COIs
Successful Seminar! Their clients
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Thank You