There’s no shame in the ‘s’ word
Fiona Jackson discusses how leveraging CRM for new business pipeline management can give your firm a ‘leg up’.
Historically, professional services firms have been reluctant to be seen as ‘selling’ services, but due to the opening up of the sector globally and new entrants coming into the industry increasing competition, a commercial approach to business is now viewed as essential. A survey of business development professionals across Europe and the US reveals that firms recognise that the strategies required to win new business have changed considerably in the last two years, and they are now becoming comfortable with the ‘new normal’ state of the industry. There’s still work to be done, however, which is reflective of the changes still taking place in the industry.
Senior partners are being encouraged to take sabbaticals to gain MBA degrees or an equivalent commercial education. Many senior associates who are on track for imminent partnerships, are also being evaluated for their business acumen.
Project managers are being appointed for clients so that the principles of the discipline are effectively applied to matters across their lifecycle to profitably deliver professional services.
This article has also been published in the latest issue of the PM Magazine which can be found on the PM Forum website (please note that this is a members only magazine).