BizDev Tips

Tips on Business Development for Advisors (Lawyers + CPAs + CBVs + Consultants)

The Secret

  • Nothing can replace real face time and your smile!
  • Run small, intimate & memorable seminars. Make it stick!
  • Share food & beverage before and after.

The Facts

  • When shopping for a new advisor, clients are looking for industry expertise – Pick an Inudstry & become a Known Expert!
  • Great service (responsiveness) is the #1 reason clients stick with you.
  • It may take 8 times more effort to generate a new file from a new client than from an existing client.
  • 80% of next year’s business should come from your existing clients.
  • It may take 8 impressions to convert a prospect into a client – Be Persistent!
  • Clients hire advisors, not firms! (But, firm size and brand also matter when deals are large and complex.)
  • Clients hire advisors they know, like and trust.
  • New prospects don’t know how good you are. They ask for referrals from advisors they like and trust.

Marketing vs. Business Development

  • Marketing is the “stuff” and much of it can be bought.
  • Business development is the “time” invested in building relationships and trust, and it’s hard to buy.


  • Website
  • Brochures and collateral materials
  • Advertising
  • Directory listings
  • Sponsorships
  • Branding
  • Public relations

Business Development

  • Client site visits
  • Organizational involvement
  • Speaking and writing
  • Client entertainment
  • Social media
  • Training and coaching

A Few Rules on Business Development

  • Nothing (I mean nothing) replaces face time
  • Advsiors working in teams is good
  • Mixing clients and prospective clients is usually good
  • Small and intimate seminar trumps big and loud conference almost every time
  • Focus on a specific target audience
  • Persistence and patience are required

Programs for Existing Clients

  • Client feedback program
  • Client site visit
  • Client appreciation event
  • Client seminars
  • Client e-alerts

For New Clients

  • Participate in industry trade organizations
  • Speak at target industry events
  • Writing for target industry publications
  • Help referral sources
  • Be active on social media – to get to face time!
  • Be persistent and be frequent: 8-11 impressions

On Client Site Visits

  • Show thanks and appreciation
  • Learn more about company and people

On Golf Tournaments

  • Huge investment of time and money
  • Attend but avoid organizing
  • Take care of your foursome

Industry Seminar Series

  • Small & intimate group
  • Interactive format on topics of interest
  • Team approach works best
  • Invest time for content & delivery

What should you do first?

Contact Sonny Cho: 416-822-8936