Have you ever thought about how rainmakers gets the results they do? Results are about getting to an intended destination. Whether one is planning a trip or setting their goals for their business the process is the same. The idea is for an intended result to occur. The planning process is simply identifying the specifics on what will be needed for an intended result to occur.  Results do not happen by chance; they happen because of intention.

The word “result” makes for an interesting acronym which appropriately describes what it takes to achieve intended results once the specifics have been identified to get the job done. Here is an interpretation of what the acronym means:

R - To achieving an intended result one must be REALISTIC. If you were planning a trip from Los Angeles to New York by automobile, you would probably identify the route as well as the stops along the way.  You would need to be ...

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Do you want clients who not only appreciate the hard work you do for them but, who also appreciate the benefit of working with you and are happy to pay your bill? Who wouldn’t you say!

To build and sustain a book of business with those types of clients is the ideal situation for most service professionals who make their living providing services to individuals and businesses. Why? Because there is a relationship and those are the type of clients who remain loyal long term.

They understand the value they receive for what they are charged and they become your best sources of business to other prospective clients who operate in similar markets and market segments. You are seen as the expert who can solve their issues. Whether your expertise is in law, accounting, wealth management, consulting, banking, insurance or real estate to name a few, you have the ability to set yourself apart, even in a crowded marketplace.

The challenge in fashioning a boo...

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There are no easy answers. The challenges that the current economy is creating for most service professionals in various disciplines is significant and rather daunting. We continue to see a contraction in almost every discipline with many being left behind. Clearly, unless you are attracting clients and driving revenue to your firm you are vulnerable. Every discipline is over populated and those that are merely technicians are expendable.

Given the circumstances, most will want to find a way to get new clients quickly because they know that it will enhance their position and create more value for themselves thereby giving them short term security. It is ...

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In her recent article in the Wall Street Journal, Sue Shellenbarger wrote a compelling article about what it means to be your own boss. She shared the story of an owner of a plumbing business who has seen his business hit hard by the impact of the economic recession.  Even though he is struggling, he genuinely is still excited about going to work every day and making a difference for his customers.  How, can he possibly be excited about such difficult circumstances you ask?  He believes that even though things are tough he still has the ability to control his destiny.  Fate is in his own hands rather than expectations being dictated by someone else.

The findings, psychologists say, based on a study by Gallup-Healthways Well-Being Index, reflect the importance of being free to choose the work you do and how you do it, the way you manage your time, and the way you respond to adversity.  The survey a...

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The worst financial crisis since the great depression has produced the most significant recession in our lifetime. The implications of its impact on our economy both for the short term and more importantly, the long term, are significant for those who provide services to businesses and individuals.

Service professionals in all disciplines are being affected by the “new normal”. It does not matter if you are a lawyer, accountant, banker, consultant, commercial insurance broker or other type of service provider which provides service to businesses or individuals. Your ability to weather this economic storm will depend on your ability to adapt to the “new normal”.

In the past year, we have seen available manufacturing capacity go to 65%, its lowest level since 1948. The average work week has declined to 33 hours for 80% of American workers. Consumer confidence is at 48% and u...

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In his new book, How The Mighty Fall, Jim Collins offers us a fascinating look at how once mighty companies come tumbling down to irrelevance or death.  Whoever thought that companies like Bank of America, AIG and Citicorp, would fall the way they have or companies like Circuit City, Lehman Bros. and General Motors would go bankrupt. If they can fall, it shows us that any company can fall.

It might be worthwhile to look at the 5 stages of decline that Collins identifies in his book from the perspective of service providers. There is no question that the radical change in the economy has impacted many professional service firms and the individuals who have contributed to their success.

Take the legal industry as an example; there have been well over 30,000 displacements form large and small firms around the country since the first of the year. In fact, there ha...

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It has always intrigued me on how different the PGA Tour is with respect to other professional team sports.  No player is drafted.  You must earn your way onto the Tour. That typically involves going to the final stage of qualifying school (if you make it) and competing against 160 other players who are just as good, if not better.  The top 30 at the end of a six-day grueling tournament earned their PGA cards and the others go home. Once the card is earned, a player must be in the top 125 money winners at the end of the year in order to retain their card for the following season.

No PGA Tour player gets a guaranteed contract.  When the bell rings on January 1 everyone starts the same.  Your income is based upon how well you perform.  Just because you are a PGA Tour member does not guarantee you will earn an income in any given tournament.  Each tournament is typically four rounds and a p...

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In the recent season premiere of “Britain's Got Talent”, a television show that is a contest of everyday people who may have a special talent to make them a star, an interesting situation occurred that stole the hearts of many people around the globe.

One of the contestants, a lady by the name of the Susan Boyle, came onto the stage to the hisses and snickers of many in the audience. In fact, the three judges which included Simon Cowell of American Idol fame, also made funny faces at the prospects of this contestant doing anything but failing. Unbeknownst to the judges, this frumpy looking 47-year-old woman never gave any appearance that she had any special talent. They simply thought that she was another no talent person who would be” gonged” off the show because of her appearance and apparent lack of any physical” star power” qualities. Cowell asked a couple questions of her when she ...

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As we approach the end of the first quarter, most professional service firms are seeing the impact of the realities of a very difficult economy.  Many firms are laying off large numbers of professionals.  Just last week there were over 2500 lawyers who were laid off from major law firms across the US! It was not because they didn't do great work; it is because they were not driving revenue to their firms. Any service professional without a book of business cannot contribute to the revenue of their firm and is vulnerable to being laid off.

What about you?  Were you able to achieve your business objectives in the first quarter?  It would not be surprising if you did not meet your objectives and you saw shrinkage in your current book of business.  Why?  There is currently an oversubscription of professionals in almost every discipline and when you combine that with a shrinking pool of available ...

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In a challenging economy, it is easy to get caught up in the vortex of networking with the belief that more is better.  In reality, it can end up costing you a great deal of time and energy and possibly your business if it is not properly directed.

In the past two months, LinkedIn, the online business networking site, has seen an increase of over 22% in unique visitors to their site.  They are also seeing that people are staying on the site more than double the time they used to. Facebook and Twitter have also seen significant increases in their membership particularly for those who are using it for business purposes.

It is clear that many, who enjoyed the benefits of the strong economy which had a run of almost 10 years, are now dealing with the realities of the new economy.  Some have seen their books of business (stable of clients) shrink to dangerously low levels. They realize ...

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