Time for change
Imagine a suited individual standing on a level crossing talking earnestly on his mobile. Despite frantic shouts from passers by the intrepid practitioner, dealing with a call from HMRC, ignores the warnings. This is a conversation he must complete even though the approaching express train will render him speechless in less than 30 seconds. Will he listen to the warning cries or will he battle on to the bitter end?
Obviously this is a rather extreme and fictional take on a dilemma that all practitioners face at present; whether to work in their businesses, dealing with the daily round of phone calls, emails and appointments, or, take time out to work on their businesses and look the approaching express train squarely in the face. What does the train represent?
- Firms with less overheads, qualifications or scruples who are “low-balling” fees and luring our clients away
- Clients who want to take up 80% of our time and only seem to be prepared to pay for 20% of our chargeable hours
I’m sure if you applied yourself you could fill two sides of A4 with further bullet points?
It’s time for change. If you are going to build a thriving practice in today’s “shaky” economic conditions it is no longer possible to rely on client referrals to get you through it – in my opinion. And yet, in despite of the general malaise I am describing, I do come across valiant exceptions: firms that do invest time and resources in developing their practices and they are thriving... And they are in the minority!
If you don’t have a strategy in place to deal with the following, minimal development issues, I suggest you take a look at the article below.
- Can you find a way to lift your clients perception of the value of your basic compliance services?
- Do you have a systematic process in place to increase cross-sales of specialist services to clients?
- Does your website have interactive features that encourage visitors to provide their contact details in exchange for useful information?
- Are you launching new marketing initiatives on a weekly or monthly basis?
- Do you have a growing prospect list?
Practice development should be your primary concern. If you are to maintain high levels of customer service you will need the adrenalin that winning new clients and satisfying existing clients’ needs affords. If you are keen to take a look at new ideas follow this link and see how Landmark can help.
Take a few paces forwards, there’s an express train coming!