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Recently, I was speaking with a client who seemed
stuck in
his marketing efforts. He had a clearly articulated
plan for
growing his business that he was enthusiastic
about.
And yet, week after week, he hadn't taken much
action to
implement the plan.
We discussed what might be keeping him from moving his
marketing forward and he said he just had too
many other
commitments (sound familiar?). As he detailed
those
commitments, though, some seemed less important
(at least to
me) than building his practice.
When my clients seem stuck in their marketing efforts,
I typically suggest we take a step back and discuss why
it's important to them to achieve their business
development goals.
When I asked this client why he wanted to achieve his goals,
he responded that succeeding at business development was
important because he wanted to "contribute to the firm."
While contributing to the firm is a laudable goal, it's
not the type of goal that motivates someone to head out
to an after-hours dinner with clients over heading home
to family. Without a compelling and personal vision of
what being successful at business development would get
him, it was unlikely that business development activities
would move to the top of his "to do" list.
This client is not alone in not being able to articulate a
compelling reason to engage in business development
activities. In fact, when asked what being successful at
business development will get them, clients often offer
responses like:
- a deeper relationship with a key client; or
- a sense of accomplishment
- increased visibility in the corporate banking community.
Pretty ho-hum motivations, if you ask me! No wonder it's
such a struggle to maintain momentum in business development
efforts.
Would you like to build your own marketing motivation? Then
I recommend you get crystal clear on what reaching your
business development goals will get you. If you're not sure
where to begin, let me offer some examples of why you might
want to make business development a priority:
- You'll increase your compensation and be able to fund
something important to you, like being able to take
your family on an African safari next summer or being
able to make a significant contribution to your
favorite charity.
- You'll be rewarded with a place on your firm's
Management Committee where you can advocate for changes
you believe are critical to the future of the firm.
- You won't have
to continue to work with Andre Adams, your
least favorite client, or Barbara Berliner, your
least favorite partner.
- You'll have a portable
book of business that will give you a sense
of personal freedom.
- You'll sleep better at night
knowing you won't worry about your fate in
the next round of partner layoffs.
- You'll have less billable hour pressure so that you can
have a more flexible schedule which will allow you to
coach your daughter's soccer team.
- You'll have more interesting
work, because you'll be able to turn down those
eminent domain cases you hate.
Did you notice how each of these reasons is specific and
personal? That's the key to being really motivating.
Setting a goal to buy a beautiful lakefront vacation home is
much more motivating than making more money. A
chance to
work on creative financing deals you love is much
more
engaging than doing more interesting work.
So what's your reason for wanting to be successful at
business development? Take a few minutes to envision the
most vivid picture you can as to why growing your book of
business is important to you.
Once you've created your own compelling vision, I suspect
you'll find your marketing enthusiasm renewed.
Whenever you
find yourself putting those business building activities
off, remind yourself what you'll get by putting
your
marketing plan into action. That should be all
the
inspiration you need to keep moving towards your
business
development goals.
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