As this will be my last BD Tips Wednesday post for 2024, I thought I would take the opportunity to ask you to reflect on the year that just was.
As it happens, the ability to reflect honestly on your business development activities from time-to-time is a critical skill to have if you want to remain ahead of the pack.
When reflecting on the year that just was, ask yourself:
- What did you do well? Can this be replicated going forward - either with an existing client or a new/target client?
- What could you have done better? Was the error/weakness down to you and your delivery, or were you just too far ahead of where the market wants to be right now?
- Did you meet your 2024 revenue targets? Are you happy with what you made or did you fall short [again] this year?
- Did you expand into the new markets you wanted to be playing in? Have you grown your client-base in 2024 as much as you had hoped?
- How many new clients did you acquire in 2024? Are these in line with your 2024 projections?
- How many clients did you lose in 2024? Was there any particular reason for the attrition?
- How well did you adapt to marker changes in 2024?
- How strong was your referral network in 2024? Did it live up to expectations? Did you get the number of referrals you set at the start of the year? If not, why not?
- How many industry and networking events did you attend in 2024? Did you go to all the events you said you would go to in 2024? If not, why not?
- How successful was your social media presence this year? Did you grow your online network as much as you had hoped? How many referrals or jobs did you get as a result of your LinkedIn efforts? Were these in line with your 2024 projections? If not, what do you plan to do about this in 2025?
Having done an audit of your 2024 activities, make sure to cover off the following to give yourself the best chance of success in 2025:
- Set a revenue target for 2025
- Create a business plan for 2025 - including the networking/industry events you want to attend
- Identify likely gaps/issues in the market and introduce solutions to these gaps/problems
- Identify new markets and target clients you would like to be working with and in
- Determine/consider staff growth and retention plans
- Determine a business development budget for the year
- Invest in your own and your team's professional development
- Invest in any new technology/equipment you will need for the year ahead
- Plan to collaborate with others (referrers)
- Monitor future market trends via an horizon scanning program
As we head for the exit door on 2024, I just wanted to say "thank you" for all the support you have provided to GSJ during 2024. It has been greatly appreciated.
See you all again in early 2025 as we start the merry-go-round all over again!
Branding and growth marketing for Professional Services Firms | Chief Marketing Officer (Fractional) | Founder of Beyond Billables | BJJ Brown Belt
2 个月Great tips Richard! It’s worth looking back when setting new goals for lots of reasons. One I realised today is that some of my goals I didn’t hit weren’t really that important, so that will frame next years.
Helping Lawyers & Legal Service Providers Maximize Leads & Calls with Google PPC Ads in the USA, UK & Canada.
2 个月Insightful!
Beyond The Tree
2 个月Point 7 in 2025. ?? ??