Practice Growth

Effectively selling professional services and growing an accounting, legal or consulting practice starts with the positioning of the firm as a trusted business advisor and then delivering on the promise. It is leveraging that which makes you different from your competitors. It involves the selection of the proper mix of tools such as professional training, thought leadership, networking, awareness and creation of the necessary tools to close the sale.

But because there are only three ways to grow a practice, it requires more.

Working for clients in a wide variety of industries, running our own businesses or managing them for others, we have found there are only three ways to grow:

• Find More Clients
• Sell Clients More
• Make More Profit on What is Sold (Thus more is available to do the first two.)

Everything else done from a marketing or relationship-building standpoint is just a way to make one or more of those three things happen.

Employing those three principles we've won several turnaround of the year awards. It is a tangible demonstration of our ability to work with velocity in an environment where time and resources are in short supply. The last thing a firm needs when growth is the objective is a slow and plodding process where ground is re-plowed and growth becomes an unfulfilled promise.

You can learn more about our approach to practice growth by reading Lowell's article in the Journal of Private Equity. Entitled "The Role of the Customer in Turnarounds", it highlights how he won a National Turnaround of the Year Award from the TMA.

• Identifying a clear competitive positioning and compelling client benefit
• Creating a strategic growth plan
• Implementing a growth plan with existing resources
• Building partner consensus and support
• Crafting a creative platform and the tools to bring it to life