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4 Steps to Master Closing New Business

Written by Allan Colman on . Posted in Law Firm Marketing, Marketing Partners, Strategic Planning.

When focusing on how to master closing new business, this post emphasizes work by Rick Justus at 36ixty.com and Bill Aulet’s “Disciplined Entrepreneurship” (Amazon, et.al.). These link directly with making a profit from your service.

Aulet identifies 4 steps to master closing new business:
* Design a business model;
* Set the pricing framework;
* Calculate the lifetime value of a client;
* Calculate the cost of client acquisition.

All too often, we see clients spending too little time in designing a business model. But in the interest of closing new business, building a pipeline future business requires: how and where to establish rapport; qualifying the buyer by finding their need; building your value to meet those needs; creating a desire for your firm and your service; identifying answers to overcoming objections; and methods and tactics to close new business. These 6 elements are known as the DEAL MAKER from Rick Justus’ 36ixty.

In our next column, we will offer action details for setting the pricing framework, calculating the lifetime value of clients and calculating the cost of client acquisition.