Let me ask you, what impact would it have for you, for your practice, to have a steady stream of your ideal clients lining up to work with you?
The more I talk with advisors about their marketing systems, or lack thereof, the more convinced I become about how critical this topic is for practice success. And?it?s a topic everyone is struggling to come to terms with.
In my trainings I often talk?about why it?s so important to build a client pipeline that you know will deliver a predictable flow of your ideal client direct to the door of your practice.
But before we go there let me make this observation, and if there is only one thing you take away from this article let it be this. The advisory firms who are crushing it right now, be they accountants or lawyers, are the ones who realise they are a first a marketing business that offers advisory services.
I could probably stop right there, but back to the pipeline. Having predictable lead flow in your practice is critical to avoiding roller coaster results in terms of your revenue and profitability. Without it practice performance is lumpy at best. What?s worse is the longer it takes you to get this right, the more competitors there?ll be that will gain a competitive advantage over you, and the more unpredictable your results will be.
Picture this. And I got this story from one of my mentors. There?s a village in the Amazonian rain forest, high up in the hills, and the only way to get water to the village is to walk down to the river and carry the water back up the hill. It?s a trek. So one day, a villager spotting the opportunity, decides to start carting water to the village. So the first day he takes a bucket to the river, fills it up, and lugs it back up the hill to the village where he sells it. It?s a little labour intensive but demand is high. Being an enterprising villager he decides on day 2 to carry two buckets, at either end of a poll, down to the river and back up again. He sells both buckets of water. Demand is strong. The next day?he decides to scale, so he hires other water carriers to help him and no matter how many people he hires he cannot satisfy demand. Business is booming. Meanwhile, another villager is quietly and methodically building a pipeline from the river to the village. Then one day the pipeline is complete. The minute he turns on the tap the villager manually carting water is out of business.
You see, you?ve got a choice. You can continue on the marketing treadmill, where a bit of marketing effort produces a client or two, where you work like mad until you complete the work, then market like crazy to fill your case load up again. Or you can invest some time and effort and build a client pipeline which will secure your business for years to come. Sure you?ll need to work hard, but you?ll only need to work hard once, then once it?s built it?s consistently delivering clients to your practice, day after day after day.
What impact would that have for you?if your practice had a client pipeline?
To find out how I do it I suggest you have a look at this free training webinar where I pull that apart.