Acceleration is about generating new business development successfully in less time. In order to enter the “accelerator zone”, one must first understand what happens when you are not in the -accelerator zone-. Chances are that you:
Put growth before value;
Don’t know what you stand for;
Have a strategic plan that is gathering dust;
Aren’t sure how to create a commitment-based culture;
Don’t have a core story;
Have not deployed all the marketing tools available;
Have undervalued the sales process;
Haven’t modified or eliminated outdated policies.
Sound familiar? Where does your law firm fall in addressing these? Does firm management address issues such as these? If they did, is firm “leadership” capable of major refinement? Would they even understand the value of moving their firm into an “accelerator zone”?
Prior to meeting with new business prospects, we urge clients to prepare a needs analysis. You can’t help a client until you know what they need. Rainmakers diagnose a prospect’s problem by asking questions and listening closely to the answers.
To conduct a proper needs analysis, you must know the questions you will ask. And you need to ask these questions in a logical order. Keep track of the questions asked. And at the same time, take notes on the prospect’s answers. Questions, answers, tangents new areas of investigation must all be juggled.
Questions to Include in Your Needs Analysis
Ask and answer the following questions before the first meeting.
What are their goals?
What are their challenges?
What solutions have they tried?
What is the problem costing them?
What are the consequences if the problem continues?
What is their timetable?
What is their budget?
Who else are they talking to?
Who, in addition to the person you are meeting with, will be involved in the decision making?
In George Gallup’s famous words, “Strategic thinking cannot be taught.” And since strategy is the 3rd of 36ixty’s 12 Essential Practices, we work with clients to identify where they need the most help.
Establish Rapport
Qualify the buyer
Find their need
Build value
Create desire
Overcome objections, and
Close the sale!
Build your new business development strategy on integrating these elements into your 90 day plans, and calendar year plans.
“Criticism is something you can easily avoid — by saying nothing, doing nothing and being nothing.”
–Aristotle
In order to help clients grow business, the second of 36ixty’s 12 Essential Business Practices focuses on Leadership. But we found over 350 definitions of leadership, everything from “make it a strong, happy team” to “think of yourself as the sun.” We needed to identify what it is leaders, managing partners, marketing partners, practice area leaders and office managing partners must do to help their teams grow new business.
6 Steps to Exceptional Leadership
The identification of 6 steps to exceptional leadership follow and are used with clients with significant commitments to grow their firms and companies.
Listen
Make Decisions
Communicate
Hold People Accountable
Take Risks
Leave a Legacy
Our workshops and seminars are aimed at having the attendees “apply the lessons today.”
Branding is the first of 12 Essential Practices (36ixty) we use to help companies accelerate revenue. It combines your purpose, vision, mission and values all into a strategy and implementation tactics. This becomes your brand.
3 Initial Steps to Branding
In my role as a Senior Business Accelerator Advisor with 36ixty, we find 3 steps to help clients become the best at one thing. This is critical in building the recognition coming from a brand.
Step #1 – M
Get your message right. Clarity addresses questions such as why do we exist? Who are we serving? How do we behave? What values will we adhere to? What is it that we actually do?
Step #2 – A
Leverage the appropriate amplifiers. Once you get the message right, this is where you use all the marketing tools available, from social media, to press releases, to advertising, to collateral, to speeches, etc.
Step #3 – P
Persevere. Over time you need to be seen as credible, expert and a master.
There is a Russian proverb which clarifies this approach, “If you chase 2 rabbits, you will not catch either one.”
Essential Branding Questions
Answering the following questions will help get you your brand:
What do you do when providing your product or service that is different than what everyone else does?
Why do your clients/customers return to you and your product/services?
When people refer business to you, what do they tell others about you? (Ask if you don’t know)
What skills to you have that people find interesting and helpful?
As the founder of Amazon, Jeff Bezos said, “Your brand is what stays in a room after you leave the room.”
Following are 2 more questions asked by Nick Gaffney in the panel discussion for the December 14th issue of the ABA’s LAW PRACTICE TODAY. My responses follow.
HOW CAN LAW FIRM LEADERS TRAIN YOUNGER GENERATIONS TO EFFECTIVELY LEAD TO ENSURE FIRM LONGEVITY AND SUSTAINABILITY? WOULD FIRMS BENEFIT FROM INSTITUTING MENTOR PROGRAMS TO CULTIVATE LEADERSHIP QUALITIES EARLY ON IN YOUNG LAWYERS’ CAREERS?
The most effective training should involve a comprehensive professional development program, in including client management, relationship building, business development, understanding business financing, etc. And it should be set up in increments based upon years of practice by each attorney. The firm should also pay close attention to identifying future leaders and at some point, assign mentors to them. But the mentor role must be clearly defined and a contract made between the mentor and mentee.
IS IT DIFFICULT TO BALANCE THE RESPONSIBILITIES INHERENT IN LAW FIRM LEADERSHIP WITH MAINTAINING A HEAVY WORKLOAD? WHAT ARE THE BENEFITS ASSOCIATED WITH BEING A LAW FIRM LEADER?
The answer to this gets back to the question of firm size. With smaller firms, the administration, personnel and management tasks tent to be less interruptive. As in any organization, the larger it gets the more bureaucratic it becomes. Bringing in a sophisticated administrative officer, designating key leadership responsibilities to members of management or executive committee, and holding them all accountable for results will enable the leader to maintain key client relationships, become a recognized figure-head in the local business community, and set an example as part of their legacy.
Based on an article in ABA’s LAW PRACTICE TODAY, (Dec. 14, 2015) moderated by Nicholas Gaffney, a member of the Law Practice Today editorial board and a veteran public relations practitioner. He asked 6 “legal field veterans” their perspectives on the multi-faceted nature of law firm leaders. My responses to his questions follow.
HOW DO THESE INDIVIDUALS BECOME BETTER LEADERS IN THEIR FIRMS?
A “respected” law firm leader needs three skills: the ability to listen, the readiness to make decisions; and — one that is most often missing — holding people accountable for implementing the decisions. In addition, thinking about what their legacy will be for the firm must be clear, concise and often courageous.
ARE DIFFERENT LEADERSHIP STYLES NECESSARY FOR DIFFERENT-SIZE FIRMS? WHAT ABOUT IN DIFFERENT PRACTICE AREAS?
Heading a practice area is often a non-position. All too many firms designate someone to lead a group, provide no support or direction, and expect results. But for those who actively work to improve the services provided by the practice group, and work at cross marketing with other specialties, the results can be powerful.
If your practice groups or offices have inconsistent or erratic performance in developing new business, “light a fire” under them. Start with a few insightful questions that should get them moving.
Is there a contact and follow-up system being used by all?
Are they using the firm brand and core messaging? Does the firm even have them?
Are pitch performances practiced or inconsistent? Are they being reviewed and updated?
When is the last time their proposal format and content was updated?
Are they multiplying or repurposing the use of presentations, articles, PowerPoints, social media?
And do they really know what your competitors are doing?
Improving Business Development Performance
Business development performance is simple to evaluate and improve. Questions like these get the ball rolling and will help in getting them “out there face-to-face.”
As we move closer to 2016, your first quarter action program needs to be in place. By taking the last few “Business Development Gut Check” Posts, and adding the following question to the list, your answers should be incorporated into action:
Are successful performing assets being readied for redeployment?
