Business Development Means "Keep the End in Mind"

This is the second and last commentary on clarifying the differences between marketing and business development.

Marketing supports the possible. Business development targets, pursues and closes prospect targets. A traditional law firm marketing department is designed to assist in keeping its firm’s image and reputation in the corporate eye, provide support for outreach and RFP responses, conduct intelligence-gathering, create media profiles, etc.

The really good firms are fortunate to have some of their staff with longer-range “marketer” capabilities; that is taking a view of the desired end result, landing new work and incorporating these goals in their support.

Business development, if properly implemented and managed, should focus on, and take advantage of,client targets already on the minds and lists of the firm’s professionals and partners. Financial and management consulting firms remain salutary models for law firms as historically they have been much more focused on specific deliverables and closings.

They take to hear the axiom, “Always keep the end in mind.”