Viewing entries tagged
Cost of Doing Nothing

Eleven weeks from tomorrow

Eleven weeks from tomorrow, Wednesday, November 23, the end-of-year clock starts ticking as people travel the US to be with family and friends for the (US) Thanksgiving holiday. What does that have to do with business development?

Get paid faster: show progress vs. budget

Collecting your fee is an integral part of sales. In the commercial world, every salesperson lives by the dictum, “The sale isn’t complete until the last dollar is collected.” Lawyers are much more lax about this, and it costs them. Here's a simple way to speed things up.

Who’s on Third? Your Team?

Throughout the Summer, we see lots of highlights of individual baseball stars performing amazing feats on the field. But as we begin the playoffs, we're reminded that the best team wins the championship, and that means getting contributions from everyone on the team.

Let's examine the team that supports your clients. What value does each teammate bring to your business development efforts?

Only ten weeks from now...

Summer is over. It's time to get back in Prime Time business mode. Ten weeks from today, Wednesday, November 23, the end-of-year clock starts ticking as people traverse the US to be with family and friends for the Thanksgiving holiday. That means that you have less than three months to take meaningful steps to reach your annual revenue goal. 

Stop trying to get someone to buy.

When you’re on an oil platform that’s burning, you have no choice but to jump. Salespeople use the expression to describe a problem whose consequences are so serious that even the most reluctant or risk-averse buyer must act. You can’t persuade someone that their platform is burning; you have to expose one that’s hidden. The key is not to try to persuade.

Defining “must do”

Whether we’re talking about professional business development or our personal lives, there’s always a long list of things that we don’t get done, despite our declarations that we coulda, shoulda, woulda, oughta, wanta do them. So, which do we actually get done? Only those we must do. What defines “must,” and how does it differ from those other, aspirational, descriptions?

​Run for office at the next networking event you attend

Have you ever noticed how politicians manage to turn any question they're asked as a platform to say what they really want to say? Politicians are focused. Lawyers trying to develop business can apply their own version of this technique. Consider this the next time you invest your time in a networking event.

Defining your prospect's “must do”

Whether we’re talking about professional business development or our personal lives, there’s always a long list of things that we don’t get done, despite our declarations that we coulda, shoulda, woulda, oughta, wanta do them. So, which do we actually get done? Only those we must do. What defines “must,” and how does it differ from those aspirational descriptions?

Take your sales diagnosis beyond the surface symptoms

Buyers and sellers are both eager to get to a solution, so we resist what we may perceive to be a protracted diagnostic phase. We think we understand the problem, and we want to get on with solving it. However, unless you're really lucky, and your prospect is extraordinarily self-aware of their problem and its full range of consequences, you'll find that you have to get beyond surface observations.

Eleven weeks from now...

Eleven weeks from now, Wednesday, November 25, the end-of-year clock starts ticking as people traverse the US to be with family and friends for the (US) Thanksgiving holiday. What does that have to do with business development?

Understanding buyers' decision-making

At the heart of every sale lies a decision. Learn how and why your prospects make decisions, and you're well on your way to finding out how to sell to them. To help them choose you, you need to understand the different ways people make decisions and the thinking behind them.  Research has revealed these nine types of decisions. 

The "Earn the Right to Advance" Sequence

How fast should you try to move the sale along? How aggressive should you be? How long should you wait before recontacting the prospect you met with? These are the questions that comprised a high percentage of the coaching calls I fielded from lawyers over the past 20-odd years. Here's how to answer them.

Beware of sales shortcuts

Just because you come "pre-screened" by a referral, don't assume that you can take a shortcut and coast into the engagement. Stick with a disciplined investigation and help your prospect make a good decision. If nothing else, it will reflect well on your referral source.

The "no budget" problem

In legal marketing and sales, when you hear "no budget," you should interpret that as representing one of two problems, each of which can be resolved by shifting your perspective and applying one of two simple disciplines.

You won. So, where’s the work?

The client selects your firm; you win. However, the work never materializes, or does so at a trickle relative to what was discussed. This occurs when the purchase is driven by “druthers” rather than imperatives. The client intends to take the action discussed. However, if it’s not something they must do, it can be a long time before they get around to it, if ever. Here's the solution.

Collection problem? No. Sales problem.

If you struggle to collect what you bill, you have a sales problem. The collection problem is merely a symptom of the underlying sales problem.

Ready, needful and willing

Identifying business need is the anchor of traditional sales strategy. Now, "readiness" and "willingness" are more important.