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Are Hamsters Running Your New Business Strategic Planning ?

Written by Allan Colman on .

New business strategic planning is the process by which an organization’s leaders define and implement the plan needed to achieve the firm’s fundamental purpose — successfully solving problems and preventing them in the future. The output is a set of high level objectives [we identify them as “critical improvement areas” per 36ixty] and initiatives/specific actions to achieve these objectives.

In other words, turn strategy into action. And since most strategic plans sit on a shelf, gathering dust, we propose starting out with a ONE PAGE STRATEGIC PLAN – yes, one page. State the purpose, identify the anticipated profit, set the priorities, measure the performance and track the progress. Insure that firm members all understand what is happening, anticipate how their roles are critical to success, and build it into your firm’s/company’s culture.

Why Focus on Your Client's Bottom Line?

Written by Allan Colman on .

Accelerate Your Business Now – Chpt.3

Note that these 12 Practices from 36ixty [brand, leadership, strategy, communication, team, core message, marketing, sales, customer experience, revenue and systems]Closers Group: Is Your Firm in the "Accelerator Zone"? break down into 3 manageable groups; how people work; how processes work; and systems to integrate and manage them all. We call them “impact areas” where clients focus on bottom line results. And in order to define these, we start with having senior firm management answer these questions as a group.

• What do I need to do more of?
• What do I need to do less of?
• What do I need to start doing?
• What do I need to stop doing?

The right questions are designed to focus on what is really important to the business and internal aspects necessary for success. The answers become the foundation that might lead to refinement, transformation in effectiveness and profits. They are the keys to growing new business. What then follows is the strategic planning process in our next column.

Are There Really “Magic Pills” for New Business Development?

Written by Allan Colman on .

ACCELERATE NEW BUSINESS DEVELOPMENT NOW
Chapter 2

Are there really “magic pills” for new business development?

Following our last post, on what happens to your new business development efforts when you are not in the “accelerator zone,” one wonders why isn’t everyone in business living in an “accelerator zone”? We find in our work that a primary reason is that most people don’t know what ingredients are necessary for leaders to new business development success. 36ixty Inc. cites 12 Essential Practices that lead to new business growth. They are branding, leadership, strategy, communication, team, value creation, core story, marketing, sales, customer experience, revenue and systems to manage all of these.

These 12 are not an end-all, cure-all or a series of magic pills. What they are equates to actual implementation of a business plan. They are especially applicable to firms and companies which are too often managed by consensus or collegiality. Practicing these 12 will lead to more clarity, focus and execution in new business development.

Our next chapter will address Business Development “Impact Areas”.

12 Essential Practices for New Business Development

Written by Allan Colman on .

 

Why isn’t everyone in business living in an ACCELERATOR ZONE for new business development?

We find in our work that a primary reason is that most people don’t know what ingredients are necessary for marketing and new business development. 36ixty Corp. has identified 12 essential practices that lead business leaders to new business success. They are:

  • Branding
  • Leadership
  • Strategy
  • Communication
  • Team
  • Value creation
  • Core story
  • Marketing
  • Sales
  • Customer experience
  • Revenue, and
  • Systems to manage all of these.

 

These 12 are not and end-all, cure-all or a series of magic pills. What they are equates to a BUSINESS ACTION MODEL, leading to marketing and sales leadership success. They are especially applicable to firms or companies managed by consensus or collegiality. Practicing them lead to more clarity, focus and execution in business development.

More in the next post.

Is Your Firm in the “Accelerator Zone”?

Written by Allan Colman on .

 

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”?

What Do Your Prospects Need? – Accelerating New Business Now.

Written by Allan Colman on .

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?
  • What are your concerns?

 

 

“Strategic Thinking Cannot Be Taught” – Business Development Strategy

Written by Allan Colman on .

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. Shopping cart

Say Nothing, Do Nothing, Be Nothing – 6 Steps to Exceptional Leadership

Written by Allan Colman on .

“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.”

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Branding: “If You Chase 2 Rabbits, You Will Not Catch Either One”

Written by Allan Colman on .

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.”

 

Are Managing Partners Really “Leaders”? (Part 2 of 2)

Written by Allan Colman on .

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.

www.closersgroup.com/blog

Crm Concept

You can read the initial post here.