Let’s say that my previous posts about your biz dev activity level and ratios convinced you of the importance of measuring what you do so you’ll know what works and what doesn’t, and how much of it you should do. Now arises the “how” question. Here’s how.
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If you don't know what it costs to get a client, you'll waste a lot of time, effort and money drilling dry- or low-yield wells. It's important to track your sales activity so you can discern real opportunities vs. mirages, invest properly in the former, disinvest in the latter, and recognize when your sales process isn't working and needs to change.
Many lawyers pretty much create the Groundhog Day experience with their biz dev coaches. They fail to get the maximum value out of coaching, or waste it outright by not being fully committed and engaged, instead merely going through the motions every week. Here’s how you can tell if you’re doing that.