Be a Biz Dev Rainmaker In Professional Services

Business development in professional services is unique.

Many business development approaches in professional services firms hurt performance.

But there is one approach to business development that has as much as a 32% increase in performance.

A commonly held belief in professional services is that if you are an expert and deliver a valuable service, customers will return.

That used to be true to a degree, but over the last few years, there has been a significant shift in the way companies buy professional services.

Now more than ever, they scrutinize existing relationships and turn to procurement practices common in other purchases.

Firms that embrace building net-new relationships will continue to grow, while firms that rely solely on existing relationships will have an increasingly difficult time maintaining existing business.

So, what separates the rainmakers from their colleagues?

1. Committing to business development
2. Connecting with clients and colleagues
3. Creating value through collaboration

In this month’s Relationship-Led Growth Live, Mike Grinberg and Joseph Lewin discuss some interesting research on business development in professional services that was highlighted in a recent HBR article titled, What Today’s Rainmakers Do Differently.