from Focus on Rainmaking by Sara Holtz
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;
- a sense of accomplishment; or
- 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. |