BD tips and insights

Best practice referrals for professional services firms

Over the years JMA’s research has shown the most successful and profitable professional services firms benefit hugely from referrals (both from individuals external to their firm, and from internal referrals or cross-selling that occurs in-firm). In our latest study 70% of respondents rated their referral relationships or networks as “highly effective” and the number one […]

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Is this tender, bid or proposal rigged?

August 15, 2019 | Posted in: Tenders Bids Proposals

It’s widely known that public sector procurement rules generally have certain dollar thresholds where a need to ‘approach the market’ and obtain at least three bids will kick in. It might be for services or projects valued at over $80,000; or for even lower amounts (especially for local government bids). Given the obligation of public […]

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Measuring more of what matters in your professional services firm

July 23, 2019 | Posted in: Business Development Strategy

Too often the “feel good” factors and recency of wins overtake facts when it comes to measuring the success of business development initiatives and financial health of many professional services firms. Properly dimensioning real individual contribution to financial success of any professional services firm requires assessment of more than simply personal fee production. (Measuring personal […]

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Closed or invitation only tenders, bids and proposals

Firstly, what are closed or invitation only tenders, bids and proposals? In addition to the generally well-understood terms ‘tender’, ‘bid’ and ‘proposal’, there are ‘open’ and ‘closed’ processes, and then variations within each that can apply to professional services procurement. Open or public tenders, bids and proposals An open tender is just that, open to […]

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How to run a kick-off meeting for your tender, bid or proposal

As we have discussed before, the difference between a winning tender, bid or proposal and a loser frequently comes down to what you know before you write a single word … not what you find out after you’ve written the document. An effective way to know more about a client is to gather your team […]

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By Guest Blogger

How the best Professional Services firms WOW their clients (and the lessons ALL businesses can learn from them).

April 11, 2019 | Posted in: Business Development Strategy

In a global study on what clients value from professional services, the majority of clients (68%) valued specialised skills and expertise. Professional services firms generally recognise that this is the top value and deliver on this well, however, most almost completely fail to recognise the next two more significant factors that clients wanted: a firms’ […]

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Why firms keep bidding on losers and what you can do about it

March 13, 2019 | Posted in: Tenders Bids Proposals | Tags: ,

A crap ‘win rate’ or lack of bidding success is usually a direct result of bidding on too many losers, aka inappropriate ‘opportunities’. Too often, professional services firms are tempted by the potential boost in revenue, and go all out pursuing speculative tender and proposal opportunities. Generally these firms have no consistently applied or objective ‘bid-or-no-bid’ […]

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Avoiding buyer’s remorse

Do your clients ever suffer from buyer’s remorse? For many expert professional services – especially legal and accounting – purchase is not optional: it’s mandatory, driven by compliance requirements, or as an essential component of project delivery. Worse still, a fair slice of consumption is a true ‘grudge spend’, mandated by lenders, regulators, and opponents. […]

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The Rise (and rise) of Sales Operations

February 8, 2019 | Posted in: Business Development Strategy

Sales Operations (or if you like ‘business development’) is moving into a broader, more dynamic and strategic role both within many organisations – and so it should.  If there’s one function in the revenue generation engine that sees all and knows all, it’s Sales Operations. Historically, Sales Operations was a blanket covering anything to do […]

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And the winner is…Environmental scanning

And the winner is… ‘Sid-an-eeeeeeeeeeeeeeeeeeeeeee!’ Juan Antonio Samaranch annoucing Sydney’s winning bid for the 2000 Summer Olympics. The exhilaration from winning a tender, bid or proposal is hard to beat and the benefits are many! But what about lost bids, tenders and proposals? An infamous proposal failure was Australia’s lost bid for the 2022 Soccer […]

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Closed or invitation only tenders, bids and proposals

Closed or invitation only tenders, bids and proposals

Firstly, what are closed or invitation only tenders, bids and proposals? In addition to the generally well-understood terms ‘tender’, ‘bid’ and ‘proposal’, there are ‘open’ and ‘closed’ processes, and then variations within each that can apply to professional services procurement. Open or public tenders, bids and proposals An open tender is just that, open to […]