Practice Development
KEY POINTS
> Practice’s image vs. firm’s image > Targeting (market and functions) > Practice maturity > Credentials > Cross-selling WHAT HAS TO BE DONE > Determine who should be interviewed > Within the firm (partners, COO, CFO, associates, managers, marketing people…) > Outside the firm (clients, purchasing advisors…) > Understand practice’s positioning within the firm > Understand development objectives : retain existing clients vs. gain new clients > Understand practice’s specific business environment: TIMES analysis > Analyze firm’s strengths and weaknesses > Define an action plan RISKS > Firm’s image is cannibalized by practice’s image > Lack of credentials for the firm’s practice > Practice development model is different from firm’s development model ( Human resources, hourly rate, fees system…) DELIVERABLES > Report > Verbatim of « external » and « in-house » interviews > Environment analysis and STEM Analysis (Stakeholders, Trends, Events, Media) > Ansoff matrix > Marketing action plan Strategy & positioning | Marketing & Pricing | Growth development | Firm creation |
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