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Business Development Innovations for Professional Services Firms

About this Seminar

Successful rainmakers in professional services firms develop long-term, consultative client relationships by building and leveraging extensive business and personal networks. The necessary skills and behaviors are essentially self-taught early in their careers and are honed through experience, trial and error. Unfortunately, most new associates and even many partners do not have the natural inclination or tools to self-teach successful business development skills and behaviors. However, research has shown that the behaviors of successful practitioners can be learned, and that most organizations can benefit from a more structured approach to business development.

We will explore the characteristics of professional services firms leading the way in business development innovation - those who nurture a client-focused culture and invest in continuous improvement of their business development processes and skills. On the other end of the spectrum, we will examine the factors that threaten the viability of professional services firms that lack this core focus and commitment. These threats can significantly diminish the firm's valuation due to a shortage of bench strength in business development talent and an eroding customer base. We consider the cost of maintaining the "status quo" and the incentives for a firm to take action by developing a strong business development platform.

This seminar is designed for senior leaders in professional services firms who wish to:

  • Learn strategies for developing and managing best practices in business development processes,
  • Enhance the proficiency of staff and partners in developing profitable, long-term client relationships,
  • Instill a culture of client-focused business development across all practice areas.

The program is delivered in a blended fashion combining classroom and online learning. Each participant will be strategically assigned to group of cohorts (3-4 senior leaders from other non-competing firms) to work together on the practical application of concepts learned. Prior to the classroom session participants will be exposed to the learning material via narrated video presentations, and will participate in online forums to explore the current thinking and practices in their cohort. Both are accessed asynchronously through a customized online learning management system. Participants must commit to investing approximately eight hours prior to the classroom session reviewing the content videos and engaging in forum discussions with their cohort group. Similarly, there will be post-class fieldwork and forums to assist participants in the transfer of the knowledge learned into practical application in their organizations.

Who Should Attend

Senior partners from professional services firms with responsibility for leading the firm's business development initiatives. Industries include law, accounting, engineering, financial services, architects, or any type of business where the firm's professionals are also responsible for business development. Registration is limited to managing partners and directors in order to form peer relationships within the cohort groups.

Learning Objectives

  1. Quantify the financial benefits of a developing a robust business development platform in your firm - and the high costs of inaction.
  2. Understand the distinction between business development and marketing, and define the key roles and responsibilities of these two interdependent functions.
  3. Understand the leaders' role in changing the focus of the firm from passive marketing to active business development.
  4. Understand the benchmarks by which leading firms evaluate and manage their business development practices; learn a framework for conducting a self-assessment to identify and prioritize improvement opportunities for your firm.

Instructor Bio

Pete Peterson

Pete is currently the Executive Vice President of Academic Development for Sales Innovation LLC, a sales and business development training and consulting firm delivering custom programs to businesses in affiliation with Pitt Business and other top-ranked universities throughout the country and the world. Pete earned a bachelor's degree in management from Guilford College and a master's degree in business administration from the Stern School of Business at New York University.