Clients want solutions that deliver as many benefits or as much value as possible, typically for the lowest cost (as many of us might often incorrectly believe, although this is a separate issue). Our ability to develop ideal solutions that offer benefits/value over and above those which are currently available elsewhere, may hold the key to winning more work.
Meetings seem to have become an embedded part of our business culture. The comments I frequently hear most certainly point to them being a huge drain on resources and often a significant barrier to people getting on with their day jobs. If meetings are necessary and we are to spend a significant proportion of our working lives attending them then perhaps considerably more emphasis should be placed upon making them more efficient, productive, satisfying and enjoyable.
If you decide to improve your meetings we very much hope this article will provide you with some understanding of where your efforts may be best placed.
We hear about the lack of collaboration in professional services firms a lot. Pretty much every day of the week we hear stories of a ‘silo mentality’ or a ‘protective’ approach to client relationships, which keeps colleagues as far away from clients as possible and a lid on (potential) growth.
Firms talk a lot about the need to focus on broadening services to clients of a firm, and it’s all well-intentioned. But in the end, the old phrase “actions speak louder than words” holds true.
There are exceptions. And the benefits those firms reap from well planned, action-based collaboration are eye-watering, both in absolute terms, but especially in relative terms when compared to firms who lack the will and/or skills to foster collaboration.
Clients more than ever demand value from their professional advisers. They know there are no shortages of firms out there who are keen to win their business and will continue to apply challenging procurement processes to help them find the best providers. More than ever this means that firms have to work harder to make both their written submissions and pitches stand out from the competition.
Why not take a few moments to complete our healthcheck designed to help identify the strengths in your approach and perhaps highlight areas for improvement that will help to further increase your win rate!
How do I collaborate?
Part I of It’s all about collaboration focused on the compelling reasons for creating an environment of collaboration in a professional services firm and what that means. The two key conclusions are:
- It’s extremely worthwhile
- It’s difficult!
I reflected recently on a conversation I had many years ago with the CEO of a global professional services firm. At the time of our initial meeting, this forward thinking leader had already worked out that her firm would only prosper in the future if their strategy for winning business moved from reactive to proactive. Read more here
We hear about the lack of collaboration in professional services firms a lot. Pretty much every day of the week we hear stories of a ‘silo mentality’ or a ‘protective’ approach to client relationships, which keeps colleagues as far away from clients as possible and a lid on (potential) growth. Read more here
Client development is about taking clients on a journey:
- to build trust and the motivation to buy
- to turn strangers into friends
- to develop your understanding of their business
- to develop their understanding of your business
At the start of every year, there is never any shortage of predictions as to what the future will hold. Most of them will never become reality.
When it comes to business development though, the PACE team are confident that, even in an uncertain world, we can predict the following with a significant degree of confidence: Read more here