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Why clients aren't giving your firm new business

By Beverly Landais, CEO, Devereux Chambers  

6 September 2013

Winning new business from a cold start is tough and costly. It is usually easier to provide new services to existing satisfied clients if the conditions are right. There needs to be: a genuine client need for those services; proof of performance by the firm in that service area; and an established trusted adviser relationship.

The argument for focusing on expanding the pipeline of work from existing clients is compelling. Yet few firms achieve this in practice. Why is this? My view is that this is because of a combination of a number of factors, namely:

1.      organisational barriers within the firm, including:

  • fear of loss of control coupled with a lack of trust or understanding of the abilities of fellow professionals;
  • financial penalties and/or a lack of incentives;
  • poor internal communication – often with a focus on new wins;
  • patchy knowledge of the variety...

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