If you are less than 100% successful in winning business - whether through personal pitch, informal proposal, formal tender, or other open competition - then it may be time to review your approach and process.
Here are some tips to help you re-evaluate.
Practice positioning
Is your firm positioned appropriately to attract the attention of the clients you want ?
Profile
What word of mouth circulates about you and your firm ?
Reputation
Are clients happy to provide references and testimonials ?
Are you entrusted with referrals ?
Branding and collateral
Is your firm visual identity, website, brochures, and marketing collateral up to the mark ?
Do you look like the right source of advice for the clients you want ?
Opportunities
Do the right opportunities cross your path ?
Are you selective ?
Do you make sound “go/no go” or “bid/no bid” decisions ?
Proposals and tenders
Do yours comply with all requirements ?
Are they clear, concise, and evaluator-friendly ?
Do these effectively put your case and help you to stand out ?
Revenue and pricing
Are you realistic in quantifying revenue opportunities ?
Are your fees competitive ?
Are your price structures enlightened ?
Shortlists and interviews
Are you making it through to shortlist stage ?
Is your performance at interviews spot-on ?
Do you create an effective dialogue for information exchange at this stage ?
Negotiations
Do you engage well in this phase ?
Do you treat this as an exploration of a range of possible solutions ?
Debriefing
Win or lose, do you canvas clear feedback on your performance through the pitch process ?
Relationship review
Do you facilitate meaningful relationship reviews and appraisal of your performance ?
It isn’t always easy to realistically assess all this for yourself. And, even the best pitches of the past may not be right for tomorrow. Things move on, ratcheting ever upward.
Enlist some independent input and benchmark your pitching processes. This will prove valuable and help you increase your success.
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