|
Quickstart - How The Most Successful Consultants Win New Business
Please add
bev@onestepfurther.co.uk
to your address book so you continue to receive Quickstart
MAKE SOMEONE'S DAY! - The Quickstart community grows through word of mouth and word of mouse and for that I thank you. Why not pass this copy on to other consultants you know or suggest they go to www.OneStepFurther.co.uk
Quickstart
Grow a Profitable Consultancy and Still Have Time for a Life
In this issue
Note from Beverley - Your Body Tells You When
One Step Further - How Successful Consultants Win New Business
Personal Reflections - Not Doing What You Know
Note from Beverley
All this week I have been waiting. Waiting to see. Waiting to see whether what started, as a wee tickle at the back of my throat last Monday, would turn into a cold or worse. I haven'’t been ill, not even a cold, for over 2 1/2 years. Well on Saturday morning the wait was over. Full blown sore throat, streaming eyes and all the other yucky stuff that goes with having a cold. Your body tells you when it needs a rest and a bit like this week, it is sometimes not at the most convenient times. But hey ho what can you do. Buy more tissues, drink hot lemon and be thankful that it only happens once every 2 1/2 years.
Have a healthy week.
Beverley
bev@onestepfurther.co.uk
www.onestepfurther.co.uk
+44 (0)1258 817647
One Step Further
The Holy Grail, nirvana, the end of the rainbow are all striven for intangibles that have driven man for centuries.
Within consultancy the equivalent might be "the way" to always win business you want. Well a bit like the centuries old intangibles I suspect this one is equally mythological or at least hidden from view for many consultants. So if there is no holy grail what can you do?
Well in recent research, headed by Professor Colin Coulson-Thomas of the University of Lincoln, a survey of over 510 professionals in seven major categories; accountancy practices, advertising agencies, engineering consultants, IT/telecommunications consultants, management consultancies, marketing/PR consultants, and firms of solicitors, looked at over 120 activities to try and decipher what makes winners win more - consistently.
There are some interesting findings; across all professions only 42.3% win more than half their pitches for new business. When looked at more closely, there are real differences across the professions. In terms of winning more than half their pitches the figures were
Accountancy practices - 62%
Management consultants - 58%
IT/telecoms consultants - 57%
Consulting engineers - 21%
Futher results from the survey show that there are some critical success factors, especially in key areas.
"67% of most successful consultancies win new business "frequently" from existing clients; this falls to 42% among the least successful. The disparity is equally striking with previous clients (33% to 16%) and even wider with referrals from clients (33% to 7%).
The most successful consultancies also score over the least successful in a whole range of other business winning activities including gaining contacts through professional organisations, cross referrals from other business units within their firms, references from associated companies and referrals from former employees"
According to Coulson-Thomas "The winners pay much more attention to developing their network of contacts. They are much more effective at exploiting a wider range of sources of new business."
Other examples, where the most successful companies gained over the least successful
* Focus on positioning themselves so that they attract invitations to pitch. i.e. they portray an "attractive/good" image and highlight their reputation in their chosen market.
* Good track record in similar projects
* Good and ongoing relationships with existing clients especially across the organisation on a one to one basis
* Reputation for reliable delivery
* Communicating the distinctive nature of their expertise,
* Addressing specific concerns of the potential client
* Providing access to previous clients
* Review lost bids i.e. gain feedback
So armed with that insight,
* What do you need to focus on to become more successful than you are now?
* What changes do you need to make to become more successful for the future on an ongoing basis?
* What areas need immediate focus?
* What help do you need?
Being good enough is surely not good enough if you want to be a successful consultant for not just this year but for years to come.
I can help you to review your consultancy and help you improve your winning percentage. Drop me a note if that’'s of interest.
bev@onestepfurther.co.uk
Personal Reflections
I was recently discussing some of the most common assumptions new business owners make, with people who have been consultants for a few years and without exception they all said, "I wish I had known or realised what I now know before I started"
This got me thinking that much of the time we know something but we don't apply what we know. Now before those of you that know me say anything, yes I'm guilty of that sometimes too.
So why is that? Why do we not apply what we know?
* Do we not realise we know it?
* Is it too difficult to do anything about?
* Do we not know how to apply it?
* Do we procrastinate and find excuses to "do it when I’m less busy?"
* Are we afraid of what might happen?
* Do we think we have to do it ourselves?
I know for me it's either fear of what might happen i.e. I might get it wrong, or I think it's too difficult. And yet deep down I know I would benefit from doing it, I know I really can do it and yet...
The human psyche is intriguing isn't it?
So what do you know yet are not applying or doing anything about?
Best Regards
Bev
bev@onestepfurther.co.uk
www.onestepfurther.co.uk
+44 (0)1258 817647 |
|