Get Proactive: Grow Your Business in 2012

Source: Partner Insights

The following is a complete article by August Aquila, reproduced with permission.

Here are four growth strategies to embrace in 2012.

1. Beef up your sales and marketing efforts. Sales is not a four letter word, it is the lifeblood of any growing organization. It's time for partners to commit significant time and energy to growing the firm. You need to ask each partner the following question: “What specifically will you do in 2012 to help the firm achieve its goals?” If partners can't help the firm achieve its goals and they are not outstanding technical specialists, then they may have to step aside or down.
2. Look for new niches. While niches are not a quick fix to today's problems, they will provide you with additional security in future downturns. Building a niche is a long-term commitment, unless you merge a firm or practitioner with an existing practice.
3. Think merger. In today's no-growth economy, you can grow by acquiring weaker firms in the market. There are a lot of sellers in the market, many are not strong options, but there are enough good firms out there to be had. Dedicate one or two partners to search for mergers in 2012.
4. Add new services. If you can't find new clients then you need to provide additional services to your existing clients. Recent growth areas are business valuation, fraud, estate planning, and don't forget wealth management.

Make it happen!

For the original article, read “Don't Play Defense!”

From Partner Insights, Aquila Global Advisors, LLC, January 2012, http://www.aquilaadvisors.com.