Professional Service Firms
The need for business development is a core requirement for all businesses and professional services firms are included. Whether you are an accounting firm, legal firm, management consultant, architectural or engineering firm, your requirement for growth is constant and a dedicated and skilled approach is required to ensure longevity of the firm.
In recent times, firms have experienced some of the greatest changes ever seen in a market and the firms that will survive through these times, or any changing markets, are the ones that have been able to sustain projects throughout the crisis but most importantly are positioning themselves in the market to take advantage of any positive changes in the market.
This is the time when everyone should be connecting and working on building relationships with potential clients and ensuring that the existing clients are fully conversant with the full suite of services offered by your firm.
One of the challenges that is faced is the traditional mindset and characteristics of professional services firms is where they have enjoyed for many years the luxury of people coming to them when they have a requirement. The larger the firm the more this luxury occurs as people are drawn to firms with experience in major projects where they can be confident the expertise exists within the business. Unfortunately they often have a narrow and dated view of the services on offer and are unaware of all the assistance the firm provides.
The issues that face all professional service firms now, whether architects, engineers, management consultants or lawyers or accountants, is that the market is hungry for work and many people that traditionally did not build relationships are finding it necessary to be out in the market. Those hungry individuals will be also very active in cutting prices and offering services that may be just slightly outside their expertise in an attempt to get clients and chargeable hours.
What this means to firms, is the existing client base can be eaten away by what is considered non-traditional competitors. You will also see those competitors arrive from outside the traditional geographical areas as they look for more work in an already scarce market.
The traditional approach of being reliant on the existing client base and some referrals is not delivering the growth requirements of firms and often it takes little change in the market for a firm to stagnate its revenue or even worse, start going backwards.
The firms that will be best placed for growth in the future are those that have built the right relationship and placed themselves to be first of mind when any projects come forward.
Trust Based Selling
As you are aware, building revenue in a Professional Services Firm requires far greater skills than just selling a product. They are often selling often complex solutions, concepts and visions that require expertise in specific projects. They are (usually) simultaneously the seller and the deliverer or required to manage the on-going delivery of those services. The buyer buys them personally, as well as the concept and vision being outlined.
Selling professional services is different from other selling but too often people attempt to apply a convoluted version of industrial sales disciplines. Selling Professional Services is more psychological and more personal. The reputation of the firm will give some degree of confidence to buyers however it is the individual that makes or breaks whether the buyer will become engaged.
More than ever in today’s world, people buy from people they know for Professional Services. They seek referrals from friends and associates, they approach people they have previously met, and they approach firms that are seen to be highly experienced in specific fields that they can relate easily once the individual contact is made. Most importantly, they buy from people they connect with.
Therefore the senior partners or directors must do something they don’t enjoy doing which is personal marketing and selling. The form of selling is definitely not the methods of selling that they would hear from product sales people coming to the firm to sell their wares. It is a far more personal, sophisticated and carefully managed sales process that builds relationships, gains the confidence of people and brings them to you when they seek expertise in your field.
Mastering Sales for Professional Services Firms, takes participants through the methodology that they need to apply not only in selling but in personally marketing their expertise. It shows them how to connect with people in social environments and business environments and how then to cultivate those relationships to create business opportunities.
The course modules are set out below and on reading through you will see this is a very well rounded programme for professional services firms.
Who Should Attend?
Partners, Senior Managers and those responsible for business development within the firm. Professional Service Firms such as Accountants, Lawyers, Architectural and Engineering firms and Management Consultants.
Course Modules
Module 1: Understanding Selling in Professional Service Firms
- Why fee-based professional services are different to traditional selling
- Understanding the role of business development within the professional services firm
- Why communication skills play such a strong role in professional services
- Avoiding the back office syndrome
- Viewing business through the eye's of the client
- Understanding client priorities when engaging professional service firms
- How technical knowledge can be your greatest asset or liability
- Getting the balance between business development and chargeable hours
- Understanding the level of contact required to engage new clients
Module 2: Communication, Building Rapport and Personalities
- Removing the myths of building rapport
- Building genuine rapport through Neuro linguistics (NLP)
- Understanding people's preferred methods of taking in information and buying
- Avoiding the barriers that stop your customer engaging with you
- Identifying the four behavioral styles through personalities
- How to communicate effectively to each different style
Module 3: The Business Development Process
- Why you don’t need to cold call to build business
- Identifying business beyond the existing client base
- Developing referrals and networking
- Managing marketing generated leads
- Understanding Decision Makers and how they influence your outcome
- Marketing tools to build your target client’s confidence
Module 4: Opening the conversation to find opportunities
- Opening conversations at business and social events
- Keys to developing the conversation and not sound like a sales person
- The questioning process to uncover needs through the five step process
- Building credibility with prospective clients
- Techniques for a thorough needs analysis
- Understanding the quality of questions you need for success
Module 5: Managing an opportunity through to the signed engagement letter
- Communicating the services and solution
- Why proposals need to be clear to allow clients to work with you
- Understanding the mechanics behind proposals
- Tailoring your capability to the client needs
- Points to avoid when outlining services
- Why you don’t use traditional closing techniques
- Moving the client to the point they are ready to make a decision
Module 6: Gaining the most from entertainment, events and functions
- Why do you entertain clients and potential clients
- What value can be gained from entertainment
- Ranking events, entertainment and functions
- When does it become a waste of your time
- How to maximise opportunities when attending the various events and functions
Learning Outcomes
The programme will develop partners, senior managers and those responsible for business development to be a more structured and capable of applying Trust Based Selling and Communication Skills. They will have a good understanding of how to plan and implement the level of growth required by the firm. They will be confident in the conduct of meetings that result in new clients being engaged for services.
Duration
One module a week over 6 weeks (recommended)– access 24/7 for convenience
Personal Trainer
Yes with individual 360 degree training provided to ensure understanding of information
Skill Application Assessment
Yes, with each module of the programme
Certificate
You will receive a Certificate acknowledging your completion of this programme.
Investment
Please contact the office nearest you for all pricing via the contact page on this website.
Conditions of Participation
This programme is subject to copyright and for attendance by the nominated participant. The programme is provided under specific conditions of use and entry to the Online Training Room. Contact the office for full details.