To win the business development battle, you first have to make sure you are aiming at the right targets. Each one you miss wastes valuable, and limited, business development time and resources. As a result, the most effective targeting involves aiming at the targets that you have the best chance of hitting.
Next you may want to join forces with referral sources who may already be on your side. This could include other professionals with complementary practices such as accounting firms, consultants or lenders. It’s likely that you both have a number of Clients who could benefit from each other’s services. Putting together joint events such as seminars or roundtables on areas of interest to joint Clients can be a good plan of attack.
Only then should you consider prospects, who may be hostile, or at least less receptive, to your advances. Because you don’t have working relationships, it can take a long time and a lot of ammunition to overcome their defenses, resulting in protracted business development battles. To improve your odds, start with prospects with whom some of your attorneys may have existing relationships. Additionally, Enterprise Relationship Management (ERM) software can help you hone in on these relationships and point your top guns in the right direction.