Personal Business Development Plan
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1 Personal Business Development Plan What you do with your billable time determines your current income. What you do with your non-billable time determines your future Market Street, Suite 202 Denver, Colorado T
2 ACTION SUMMARY 12 MONTH GOALS & OBJECTIVES TARGETS 5. VALUE PROPOSITIONS For your targets 90 DAY ACTION ITEMS Key BD & Marketing Activities DUE DATE Market Street, Suite 202 Denver, Colorado T
3 OBJECTIVES This business development worksheet has been designed to create a specific plan to help you achieve your goals and stay focused on the clients, prospects and activities that offer the best opportunity for securing new business. Your Specific Primary Goals & Objectives for the next 12 months Examples: These are not Objectives Not specific and measurable To be the best I can be To grow my practice To represent as many clients as possible These qualify as Objectives They are specific, measurable and have date by which to complete. Hint: If progress can t be measured, it probably is not an objective. I want to achieve gross collections of X in the next 12 months I want to double the size of my personal practice over the next 2 years I want to land XYZ Co. as a client I want to make a presentation on ABC to four different offices one per quarter I want 50 more people added to my contact data base in 12 months I want to speak at three industry events in the next 12 months I want to publish one article in the next 90 days, and two more within 12 months I want to get on one community board this year I want to obtain one association leadership position this year I want my unique expertise/solution to achieve a quantifiable position of market leadership within two years What are the biggest challenges/roadblocks to achieving these goals & objectives? 1624 Market Street, Suite 202 Denver, Colorado T
4 FOCUSED TARGET LIST Examples: Existing Firm Clients that you would like to cross-sell into Clients that your are working on that you want to solidify and expand Dormant Clients Prospects Target Company Contact(s) Title Phone # / 5. Value Propositions Top Hot Issues that will open doors for you at clients and targets Value Proposition: An underlying benefit such as an idea, a concept, a solution, new knowledge, a new perspective or a best practice that the client will receive as a result of meeting with you. Strength or sense of urgency will swing doors open faster: Emerging Trends Stay awake issues/hot topics Innovative strategies Industry changes New legislation New technology 1624 Market Street, Suite 202 Denver, Colorado T
5 Internal Network Colleagues you want to target to help cross-sell you Referral Sources Other lawyers, accountants, bankers, consultants to develop Name/Company/Type of Advisor Associations, Civic Organizations & Clubs Member or planning to join Industry Conferences & Events currently involved with or planning to become active Firm Alumni to contact Current Position Company & Title Personal Interests/Hobbies/Activities Overlapping personal interests with Business Development 1624 Market Street, Suite 202 Denver, Colorado T
6 Niche Development What is your passion or interest in your profession or a specific industry? What could be a niche practice area for you? How do you plan to become a go-to professional in that niche? 1624 Market Street, Suite 202 Denver, Colorado T
7 Action Items to help you reach your Objectives Complete in the next 90 days Action Item Due Date Comments 5. ACTIVITY COMMITMENTS Set monthly goal for business development activity: Breakfast, Lunch and coffee meetings Dinners Sports events Networking events Industry trade shows & events Commitments tied to your Business Development Objectives & Goals # Number of external BD meetings per month # Number of internal BD meetings per month # Number of events per month 1624 Market Street, Suite 202 Denver, Colorado T
8 Tactics Contacts & Your Network Create contact list of family, friends, contacts In Outlook or other contact management tool Develop wish list of prospects Rate your contact list on a 1, 2, 3 tiered basis Keep in touch through events, newsletters, holiday & birthday cards, lunch coffee, calls, s, personal events, etc. 5. Contact Frequency: 1 s: Quarterly in person 2 s: Twice a year (once in person) 3 s: Once a year Professional Development Join one local association and get actively involved in one targeted committee Update your bio annually Bio Improvement - Include some niche orientation Bio Improvement - Add some success stories 5. Set up a leads group with other professionals Industry & Niche Development Target an industry that has specific interest to you Join one industry trade association attend local meetings and one national meeting Subscribe to and read the Wall Street Journal, Forbes & Fortune Subscribe to the primary trade journal for your niche industry Internal Development Identify three colleagues that you want to strengthen your relationships with Present once per year internally Community Development Identify one community organization that you have strong passion for Join and get involved with one committee. Attend quarterly meetings Seek out leadership role Visibility Write one article per year for a professional or industry publication Present one speech per year for a professional or industry publication Participate in a firm seminar to clients and prospects Client Development Develop a list of the critical issues to your client and their industry Visit client s offices, facilities, factories, stores, etc. Ask in-house contacts if they will set up meetings with business people so you can learn more about their business Market Street, Suite 202 Denver, Colorado T
9 ACTIONS & TACTICS Ranking Of Marketing Tools and Their Effectiveness for Professional Services Firms Top tier - Most Effective Speaking engagements especially at industry forums/client industry meetings Published articles articles in client/industry trade press information pieces published for industry forums published in general business sources, blogs Seminars (small scale executive briefings: with proper follow up) Proprietary research Web 0 Tactics Referrals from clients (with follow up calls) Warm Calls (Follow up on referrals and from marketing activities listed above) Second Tier Somewhat effective Conference participation Trade & Professional Associations Community/Civic Activities Networking with referral sources Targeted Direct Mail & Newsletters electronic and paper based Cold Calling (Follow up from direct mail and events) PR & media relations with industry press, business press and analysts Client surveys Third Tier Least effective & generally very expensive Brochures Seminars (ballroom size) Sponsorships Advertising 1624 Market Street, Suite 202 Denver, Colorado T
10 ACTIONS & TACTICS What action steps must you take to meet your goals & objectives? Check boxes or circle from list on previous page Initial meetings with prospective clients Public speaking in front of clients and targets Give and receive referrals Organize a seminar Attend conferences and events Contact and set meetings/schedule meals with your Circles of Influence / Network Identify and send value-added information Public relations events and articles detailing client successes Relationship-building trips to firm offices to lead to cross-selling Write and publish articles targeted toward client issues Attend networking events to meet influencers and decision makers Secure leadership position in association or group Active participation in associations Invite targets to entertainment or sporting event Proactively offer office advice or presentation Introduce a colleague into a client relationship Conduct a needs assessment Follow-up after key client/prospect interactions Research client s business, key stakeholders, industry and key issues Offer training to client s in-house team Productize your services Contact firm alumni to reestablish relationships Rewrite bio so that it attracts attention Invite a key contact to sit on a panel Other Other Of those you checked, which are you most comfortable with? 1624 Market Street, Suite 202 Denver, Colorado T
11 Skill Development This program is designed to support your business development activities, skills and knowledge. What do you most want to gain out of the program? Business Development Training Objectives Skills you want to improve or develop. (See potential list below) List of Business Development Skills Networking communication Voic communication Quickly building rapport with people Follow up Asking for and closing business Asking effective questions developing understanding of client needs Listening Presenting Identifying opportunities Public speaking Asking for referrals Cross selling and being cross sold Generating leads Expanding list of contacts Other - Other - Other - Other Market Street, Suite 202 Denver, Colorado T
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