Do your people have these 6 essential business development skills?

In a professional environment where every firm has roughly the same level of skill, ability and qualification, it’s the soft skills that enable you to retain clients and attract new business.

I regularly work with lawyers, accountants and other professionals on these soft skills. I’ve seen that, while some people naturally have these essential skills, they can also be developed. This gives firms a broad base of business development skills that can help them to manage a successful strategy for growth.

What makes good business development?

For me, good business development is having a clear strategy that’s carried out in the right way. It’s a blend of understanding what business you want and having the relationship-building skills to get there.

Here are the 6 essential skills I see in people who are good at business development:

1.?They know what sort of clients they want – this is the first pillar of good business development. Only by defining the types of clients you want can you focus on talking to the right people.

2.?They take time to understand all their clients – taking the time to understand your clients’ priorities and needs allows you to anticipate the ways you can support them. This is particularly true for retaining clients and increasing their value.

3.?They focus on building trust – it’s vital that clients trust their professional advisers. They need to be confident in your ability both to handle the practical side of things, and to manage their account proactively.

4.?They communicate clearly – if a client feels they are continually chasing for information or progress, trust is diminished. Never underestimate the power of regular, open communication. Also remember that each client will have a preferred method of communication, so establishing a communication ‘framework’ is key.

5.?They network – networking helps you to establish personal relationships with potential clients. The more people hear positively about you and your firm, the more likely they are to come to you for your professional help.

6.?They think widely – it’s easy for professional firms to focus on the initial matter in hand and ‘get the job done’. Instead, good business development looks at how else you can help your client. Suggest things they may not have thought of, consider alternative approaches and refer to other service providers where needed.

The sooner your business can develop and use these skills, the more successful your business will be. ?

The Trust Equation

As part of my book, Getting On: Making work work , I look at the importance of building good internal and external relationships. A significant part of this is based on trust. Do your clients trust your firm and their individual advisers? How does this affect your ability to bring in new business or expand the value of existing clients?

I use a trust equation developed by D.H. Maister, C.H. Green and R.M. Galford in The Trusted Advisor, 20th anniversary edition (2021). You can find out more about this equation and use it within your team by downloading it from my website .

And you might find my The Overlooked Skills Your People Need useful. It's completely free - just download it today and get started.