Spend Your Time on Worthwhile Business Development Opportunities

As we look to the year ahead and formulate strategies on how to improve over last year, it’s helpful to look to the past to determine which actions were most successful in generating new business.

Taking stock of your 2016 book of business, which deals were the most valuable? Compare your most successful engagements to identify common themes among them.

Perhaps you’ll find that a specific industry sector yielded large revenues, or that prospects of a particular cultural background tended to be loyal clients. When you hone in on the traits of high-value clients, you’ll have a better understanding of the demographic you should pursue for future opportunities.

As you manage your business development pipeline, use this information to label each prospect as a low, medium, or high-value opportunity. If you’re too busy to connect with everyone on your list, focus on the high-value opportunities for a more meaningful return on your time investment.

Many lawyers find that using a pipeline management tool like Practice Pipeline is an efficient way to keep their key relationships top-of-mind. Practice Pipeline’s simple dashboard interface allows you to sort your pursuits by potential value and past revenue, making it easy to focus on the opportunities that count.

Contact us to learn more about how Practice Pipeline helps lawyers nurture their most important relationships with minimal administrative busy-work.