Harry Mills - The Rainmakers Toolkit: Power Strategies for Finding, Keeping, and Growing Profitable Clients

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Table of Contents

Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY10019.

Tel: 212-903-8316 Fax: 212-903-8083

Web site: www.amacombooks.org

This publication is designed to provide accurate and authorative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person sould be sought.

Library of Congress Cataloging-in-Publication Data

Mills, Harry.

The rainmakers toolkit : power strategies for finding, keeping, and growing profitable clients / Harry Mills. p. cm.

Includes bibliographical references and index.

ISBN 0-8144-7216-8

1. Professions. Marketing. I. Title.

HF5415.55.M55 2004

658.8--dc21 2003010062

2004 Harry Mills

All rights reserved.

Printed in the United States of America.

This publication may not be reproduced, stored in
retrieval system, or transmitted in whole or in
part, in any form or by any means, electronic,
mechanical, photocopying, recording, or
otherwise, without the prior written permission of
AMACOM, a divison of American Management
Association, 1601 Broadway, New York, NY10019.

Printing number
10 9 8 7 6 5 4 3 2 1

Life is like a dogsled team.
If you aint the lead dog,
The scenery never changes.

Lewis Grizzard

Dedicated to my loving daughters Alicia and Amy.

ACKNOWLEDGMENTS

As the following list shows I have been extraordinarily fortunate to be able to call on a remarkably long list of talented colleagues, friends, clients and experts to help shape this book.

Thank you all. Your feedback has invariably been practical, insightful and focused.

Michele Taylor, my personal assistant, has been a backbone of creative and tireless support.

How can you say thank you enough to a loving partner and wife who has supported you through the writing of 24 books. To Mary-Anne, all I can say is I love you.

INTRODUCTION

IMPROVE THE ODDS OF SUCCESS

Only a tiny minority of professional firms can consistently grow their fees and profits year in year out. While everyone enjoys patches of prosperity, few can sustain excellence for five or more years.

The goal of The Rainmakers Toolkit is to give professionals the tools, techniques, and strategies they need to tilt the odds of success in their favor by helping them dramatically increase the probability of success.

HOW TO WIN CLIENTS, BOOST SALES, AND MULTIPLY PROFITS

The Rainmakers Toolkit provides professionals with a step-by-step, easy-to-follow road map on how to build a high-profit practice founded on the principles of customer relationship marketing.

A COMPLETE MARKETING SYSTEM

The Rainmakers Toolkit helps you to:

Identify and turn your high-profit customers into life-long relationships

Target high value prospects

Close more salesmore quickly

Increase your bid to win presentation ratio

Build a million dollar referral network

Master the techniques top rainmakers use to sell their expertise

Uncover the secrets of up-selling and cross-selling

Conduct pitches and seminars that really do produce business

Overcome fee resistance

Position yourself and your practice as a provider of premium services.

What Makes The Rainmakers Toolkit So Effective?

The Rainmakers Toolkit dramatically increases your odds of sustainable profitable growth. The system, tools, and guidelines tilt the odds of success in your favor.

The Rainmakers Toolkit takes you further and is quicker than any other professional service marketing system. The Rainmakers Toolkit includes all of the breakthrough ideas, concepts, and technologies that have revolutionized relationship marketing in the last decade.

The Rainmakers Toolkit sets out the process of building and growing your practice into logical easy-to-follow steps. A super busy professional with a full client load can manage the program.

The Rainmakers Toolkit shows you how to maximize practice profits. Here are the insights, techniques, and tools you need to create premium services for which you can charge premium fees. We show you how to stand out from the crowd by differentiating yourself from similar practices.

You dont have to work harder to earn more. We show how to market smarterand have funby doing what you enjoy.

Who Should Purchase The Rainmakers Toolkit ?

Partners looking for a proven low-cost, high-return, client-centered marketing system.

Anyone who makes marketing decisions in a professional services firm in the fields of:

Accountancy

Law

Consulting

IT and technology

Engineering

Veterinary practice

Medicine

Architecture

Public relations

Dentistry

Outplacement and Recruitment

Merchant banking

Advertising

Optometry

Small and medium-sized professional service firms looking for a smart, low-cost way to compete with their industry giants.

Niche, practice leaders in large professional firms looking for low-cost easy-to-implement tools to further boost revenues and profits.

Partners in professional service firms without a specialized marketing staff who want to create a results-driven marketing culture.

Rainmakers looking for the latest insights, thinking, and techniques on how to target and close high-profit prospects.

PART ONE

THE MARKETING CHALLENGE

CHAPTER

PROFITS UNDER SIEGE

Growing your practice in
tough times

DOG-EAT-DOG MARKETPLACE

The huge $900 billion dollar professional services marketplace has become a dog-eat-dog battleground, where you need more than a big bark. The winnersthe hugely profitable feware getting richer while the restthe vast majority of firmsstruggle to maintain margins and growth. As a result, double-digit profitable growth for most professional service firms has become a distant dream.

Even practices such as the elite law firms once seen as immune to market forces are finding the going tough. A McKinsey Quarterly analysis of the worlds largest law firms warns, all but the most profitable are in peril.

The Virtuous Cycle of Growth

The high-profit winners are growing their practices around a distinctive value proposition that will sustain high profits and double-digit revenue growth.

These high-profit, high-revenue growth firms are locked in a virtuous cycle in which they can cherry-pick top talent from their less profitable competitors and invest in expansion, new services, and cutting edge technologies.

The Vicious Cycle of Decline

The low-profit, low growth stragglers are stuck in a vicious downward spiral, losing talent and prestige at an accelerating pace until they shrink, get acquired, or simply become bit commodity players.

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