Blog
Category: Strategy
Why a lack of pricing discipline is undermining your profitability
Pricing inconsistency quietly erodes profitability and client trust. Here's why it happens, and the framework professional services firms can use to fix it.
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Why small law firms should use a fractional business development manager
Business development shouldn't only happen when work slows down. Here's how a fractional business development manager can help small law firms build a more consistent, sustainable pipeline.
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The hidden pricing mistake most professional services firms make
Answering "how much will this cost?" too quickly is one of the fastest ways to undervalue your work. Here's what to understand before you quote a fee.
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Client Feedback Program for Professional Services Firms: Why It's Essential
A well-designed client feedback program is no longer a “nice to have.” It’s one of the most effective business development, retention and pricing tools available to professional services firms.
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Common mistakes when creating a business development plan and how to avoid them
While most BD plans are very impressive looking documents, the hard truth is that few work effectively and most never make it out of the top drawer of the partner’s desk. What fails isn’t in the idea of business development - it’s in the way the firm’s business development plan is designed, governed and lived.
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Why your cross-selling efforts might not be working and what you can do about it
Most professionals fail miserably at cross-selling. Their firm’s cross-selling efforts feel ad hoc, dependent on individual rainmakers or are overly reliant on enthusiasm rather than strategy. So here are some identifiers of what might be holding back your firm’s cross-selling, as well as some steps you can take to fix it.
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Trust-based pricing: when relationships set the price
For some time now we have been told that the onset of artificial intelligence (AI) will doom the billable hour and that value-based pricing is the future. But, what if they are wrong?
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Strengthen client loyalty and staff development by introducing junior team members early
We often hear feedback that clients wish they had the chance to meet all the professionals on the team. But, as anyone who has worked in professional services can tell you, client relationships are carefully cultivated and often closely guarded by senior partners and/or client relationship partners.
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How to attract high-value clients
High-value clients gravitate toward firms that are intentional about how they present themselves, what they do, who they serve and what value they are delivering to their clients.
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10 ways AI will change your firm’s pricing
Fundamentally, AI will bring discipline to pricing by offering firms real-time insights, automating routine processes, and revealing patterns that help partners and pricing teams make better decisions.
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How do you attract more clients like your most profitable clients?
Knowing the 80/20 Rule applies to most professional services firms, why aren’t you doing more work for the 20% over the 80%? In this article, we look at five key strategies to do just that.
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Why you should niche: the power of specialising
While it is always nice to hang out with the high rolling “full service” firms; today, if you want a chance of maximizing your profit opportunities, it is a far better strategy to market yourself as a niche practice.
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