The lifeblood of any practice are those moments when new business is secured: when you win new clients or when existing clients buy new services from you.
I have built three practices from a standing start and sold two of them, so I don’t just speak from a text-book appreciation of the joy that these moments afford. Unfortunately, practice development is a remorseless activity. It’s like walking up a down escalator, if you stand still you actually go backwards.
I’d like to make a contribution to your upward journey, winning new business, by concentrating on cross-sales to clients and converting those prospect lists into fee paying clients.
Cross-selling to existing clients
If clients knew the full range of services on offer from your practice, when problems occurred they would be be able to figure out what to ask for. This is an unrealistic expectation. In life, we tend to look for solutions after problems rear their knotty heads, not before.
Cross-selling additional fees has to be the low-hanging fruit of practice fee development. You have acquired the client, won their trust and now have the opportunity to expand the range of services you can offer.
Unfortunately, this requires action on your part.
Winning new clients
This is the harder task. Even when you are referred, this process demands that you “sell” the benefits and features of working with your practice.
And this requires even more action on your part.
Where to start – an invitation
Although every job undertaken for clients requires that you accommodate their unique circumstances there is an underlying pattern to the activities required to achieve the desired result: fee growth.
I don’t profess to have all the answers but I do have enough of the answers to provide you with a framework out of which you could achieve a satisfactory increase in client “foot-fall”, cross-sales, and new client acquisitions.
We all need a plan – a road-map
Knowing that there is mileage in increasing sales to clients or taking on new clients is not enough; you will need to devise a plan of action, and then most importantly, do it.
I have created a Fee Builder process that will enable you to tackle these issues in a structured way and achieve fee growth. In my experience, there is a direct correlation between action and results.
Bob Edwards – Founder director Landmark