People in my line of work seem to think that growth strategies will be a focal point for professional services firms in the near future. Any effective growth strategy requires that at least some professionals know how to bring in clients. This involves education, whether you provide it internally or through a consultant.
Either way, it is prudent to analyze your motives for spending money and time on training or coaching. Ask your partner group the following:
- Does your culture support consistent, long-range marketing and business development learning and efforts, as opposed to sporadic and reactive demands from individual partners?
- If so, how?
- If not, what are you and your partners willing to change?
- What, exactly, will be your carrot and stick approach when it comes to business development efforts and results?
- Will business development efforts or results affect compensation? HINT: If business development does not at some point affect compensation, training is a waste of resources.
- How will you handle the inevitable question: “Hmmm. Peter Partner seems to be doing fine here, and he doesn’t develop business. Why should I?”
- How will the firm create a system of accountability for the time and expenses that go with increased business development efforts?
- What does a successful outcome for a training or coaching program look like to you and your partners?
Finally, be sure your firm’s growth strategy is in place and known by every team member. Spending money and time to teach anyone to develop business when there is no carefully crafted or well communicated plan for the firm’s future is like shaving with a dull razor blade: often painful and rarely effective. The crucial difference, of course, is that razor blades are a whole lot cheaper.
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