Building Business from the Inside, Out
| by Allan Colman | April 08, 2008
âNot houses finely rooofed or the stones of wall well-builded, nay nor canals and dockyards, make the city, but men able to use their opportunity.â
--Alcaeus; Aristides: Rhodian Oration
Sometimes the search for new business starts in your own backyard, so to speak.
When I analyze the business development strategies of my clients, many times I hear their desire to branch into new practice groups and expand their services. Marketing and advertising campaigns are discussed with vigor. Talk of pricey sponsorships for seminars and conferences are proposed.
While all these methods are useful in creating a brand and getting noticed, I find that one of the simplest and most cost-effective start points is to evaluate the needs of existing clients and forage for growth opportunities with those whom you have already developed a strong working relationship.
Look inward to branch out. Take a look at the firmâs top clients over the last three years or so. How many of your services are used by each one? There may be an opportunity here. If you have done stellar work in one practice area, your client will most likely be amenable to hearing about other practice areas that apply to their business.
To outsiders, expanding your business with an existing client shows that they value and have confidence in you, and in turn, serves as a law firm marketing technique. It also builds your resume and track record in the practice in which you would like to augment.
--Alcaeus; Aristides: Rhodian Oration
Sometimes the search for new business starts in your own backyard, so to speak.
When I analyze the business development strategies of my clients, many times I hear their desire to branch into new practice groups and expand their services. Marketing and advertising campaigns are discussed with vigor. Talk of pricey sponsorships for seminars and conferences are proposed.
While all these methods are useful in creating a brand and getting noticed, I find that one of the simplest and most cost-effective start points is to evaluate the needs of existing clients and forage for growth opportunities with those whom you have already developed a strong working relationship.
Look inward to branch out. Take a look at the firmâs top clients over the last three years or so. How many of your services are used by each one? There may be an opportunity here. If you have done stellar work in one practice area, your client will most likely be amenable to hearing about other practice areas that apply to their business.
To outsiders, expanding your business with an existing client shows that they value and have confidence in you, and in turn, serves as a law firm marketing technique. It also builds your resume and track record in the practice in which you would like to augment.
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