We’re all busy trying to bring in new business, service clients at the highest level possible and bill at high rates. Because this requires so much focus, strategic planning can take a back seat.
If you tread water, living off what you learned earlier in your career, there are sharks who will eat you whole and minnows that will nibble you to death. So, this is about staying alive.
This piece from Hinge Marketing, A 10 Step Brand Development Strategy for Your Professional Services Firm, breaks down marketing planning. The blogger, Lee Frederiksen, writes: “A professional services brand is best understood as your firm’s reputation and it’s visibility in the marketplace. The strength of your brand can be measured as Reputation times Visibility.”
These steps only work if you know where you are going.
When working with CEOs, I encourage them to understand the following before they embark on strategic changes:
- the market demand for the firm’s services
- how the market demand fits with the mission of the firm
- the capacity of staff to learn and adapt
- how the staff and firm are perceived in the marketplace
If you succeed once without strategic planning, you’re lucky. Congrats. For sustainable growth– the kind that ensures longevity and is lucrative for you, your board and staff, anticipate and prepare for what lies ahead. The rewards will be worth it.