Blog
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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Benefits of staying in your lane to be successful with your business development
Staying in your lane isn’t about stifling growth opportunities; it’s about understanding your strengths, focusing your efforts, and maximising your business development impact.
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10 tips for working with clients you don't like
Every now and then, you are faced with the prospect of working with a client you don’t particularly like. But, at the end of the day, we are professionals and with the right mindset and strategies, we can navigate these challenges and even turn them into opportunities for growth.
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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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6 steps to handling client complaints
Heaven forbid it should actually happen to you, but do you know what you would or should do if a client makes a complaint about you or your firm?
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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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The power of client charters in building client trust
Trust, and for that matter accountability, is the cornerstone of any professional relationship. Without their trust in your ability to deliver on what you say you can deliver, your clients will, eventually, walk away. One of the most effective tools you can use to establish and maintain a level of trust between you and your client is a client charter.
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Using retainer fee agreements to create client loyalty
Competition for work has never been greater. Every year I feel like the demand side shrinks, the supply side expands, and the cries of ‘more for less’ grow louder. One of the more innovative ways for professionals to create and cultivate client stickiness is to commit to a retainer fee arrangement.
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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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