But a lot has changed. Clients want value, service, convenience, choice and lots of attention.
This isn't bad news. Quite the contrary. This is a great time to be in business armed with knowledge, enthusiasm, and an inquisitive mind. We have the opportunity to set strategies for our business that will bring challenges, fun and profit.
What's your vision for your organisation?
- What value do you deliver to your clients?
- What problems do you solve?
- What improvements do you make?
- Who specifically wants one or all of those three assets you offer?
- Who is willing to write a cheque for it?
- How specifically do you reach those people?
You must make yourself and your business known to those people identified in point 6 above. A millionaire client of mine said, "I don't care if I can't squeeze another customer into the shop, I still keep promoting. Because I have to keep convincing my customers that ours is still the place to come."
His point being that the real sale comes after the sale. We all must become unabashed, relentless self-promoters. Oprah continues to promote herself, McDonald's, Coca-Cola, Gillette all continuously market their brand to us. We are never so good or so busy that we can afford to stop marketing.
The partner of a legal firm asked me to lunch. It wasn't until after we finished our main course and began settling in to coffee and cheese that he opened up. "Ric, I need you to come and assess the professionals on staff and tell me which of those it makes sense to let go."
"Let go? Why?"
"Revenues are down, and prospects of short-term improvement aren't obvious. To maintain profitability, if I release a few lawyers, we will lower our wages and therefore expenditure, significantly."
"Are these all good people?"
"Sure are; it's going to hurt to cut some of them."
"Then don't. Why have them as your competitors when the recovery cycle hits? Let's educate them in ways to become a further asset to the firm by developing their marketing, networking and business development skills. I'm also going to work on your delegation skills so you can release some of the workload you are carrying over to these people; and then we are going to get you out personally marketing and promoting the firm."
In the 1700s battles were fought with the general on his horse, sword drawn, leading his troops into battle. That's exactly what managing partners of legal and accounting firms need to be doing right now!
Yes, these have been some pretty challenging and tough times lately. This is also the best time for quality, value-based businesses to stand out from the crowd and be a class above the rest. These are the best of times.
Ric Willmot - Delivering Breakthrough Executive Performance

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