Blog
Category: Strategy
Blended rates and how they can help with your pricing strategy
Adopting and implementing the right pricing strategy is critical for any business looking to balance profitability, competitiveness, and stay in business. A pricing approach that often gets overlooked in this discussion is blended rates.
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Why horizon scanning is critical to the success of your business development efforts
Horizon scanning is a critical strategic tool used to identify and analyse potential future trends, opportunities and threats. It is the process of systematically identifying and assessing potential future developments that are likely to impact your professional practice.
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The law of supply and demand doesn’t apply to the pricing of professional services
It’s a foundation principle of economics: Supply and demand determine price. Oversupply will reduce prices. Increased demand will increase prices. However, this fundamental principle – that drives most of the world’s economy – doesn’t apply to professional services!
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10 benefits of having a Key Client Program
In a recent post, we discussed implementing a Key Client Program (KCP). In this post we want to expand upon that and discuss what the benefits are of having a KCP – and trust us, there are plenty more than the 10 listed in this article.
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Why your firm needs a Key Client Program
When I first started working with professional services firms over 25 years ago, a partner pulled me aside and told me that all of his clients were equal. It didn’t take me long to realise this was a very bad client strategy to have. Not only are clients not equal, but not all clients are good clients that you want to keep .
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Knowing when to fire a client and understanding how to do it
In this blog, we explore when it might be a good time to fire a client and talk through some proactive steps you can take to ensure the process is as smooth as possible.
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Implementing a ‘land and expand’ pricing strategy for business growth
In a highly competitive business environment, such as we often find with professional services, it is arguable that an aggressive pricing strategy helps win work and new clients. A ‘land and expand’ pricing strategy could be an option for you to consider to drive business growth and success.
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‘Sink or Swim?’: Tips on how to successfully onboard a new lateral hire
You’ve done an internal audit of your existing skill set and identified a deficiency. It might be that you never had that particular skill set in the first place. Or it could be you’ve recently lost the skill to a retirement or departure. Either way, you don’t have it, and you need it.
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5 tips to make your next client business development meeting a success!
For most professionals, the very thought of a meeting with a new prospect or an existing customer to talk through how you can help them with their problem(s) can be daunting.
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5 reasons you need to unlock the secrets in your data
Every professional services firm collects huge amounts of data about their clients and the industry sectors they operate in each and every day. Few, however, take the time to apply the resources to interpret this raw data and apply the findings to its own business in order to improve the value of the service they’re providing.
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Why you need to segment your client marketing list
At GSJ we believe that by not segmenting your client list to the relevant readership, you’re missing out on a ton of business development opportunities. If you want to rectify this error, you should start by classifying your current client and target client lists.
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Niche or generalist?
A common question in business is whether it is better to be a generalist, full-service practitioner or a niche practitioner? As with so many things in professional services, our answer to that question is a cop-out: "it depends".
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