By Andrew Sobel
RainToday Note: This article is part two of two. In part one, Sobel explained his first four strategies for starting new client relationships. These strategies included:
- Leveraging current client relationships to help build new ones
- Offering your clients a fresh perspective on your sector or practice
- Using your firm's network to get both advice and introductions
- Finding a coach
Now, he will elaborate further and offer three final ways to generate a new client base after a promotion.
5. Identify Your Prospects' "Watering Holes."
This is a classic, although somewhat longer-term strategy. Where do these clients congregate? What do they read? How do they spend their time outside of work? Nowadays, there are so many specialized media and forums that it may well be possible to narrowly target some conferences, events, and publications that will allow you to meet these prospective clients.
6. Segment And Prioritize.
You cannot go after 10 or 20 clients at once, so you need to set priorities.
Do some of them have strong, pre-existing relationships with one or more of your competitors, making it difficult or impossible to break in? Is there a conflict or dissatisfaction that will give you an entry? Would it make sense to first talk to the mid- or smaller-capitalization companies on your list, versus the largest ones? Which ones are geographically close to you? Which ones are going through turmoil caused by declining profits, competitive incursions, price competition, reorganization, or other events? Which of these clients is most ideal for you and your firm, given what you can offer?
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