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One of the saddest events I witness in professional firms is the exodus of good people with experience. Yet this is just the group of people firms want to keep.

The policy of “up or out” – you make partner or you leave – strips firms of great experience.

And it can cheat staffers who are not supported in doing what it takes to make partner. All too often, the staffers leave because they or their firms did not make a regular investment in their future.

Partners who focus junior associates on the technical job at hand and then skimp on training and marketing may profit in the short run, but will lose long-term profitability.

Invest in Yourself
If you are an associate professional or staff member, avoid the easy trap of exclusive focus on your work.

Make this the year that you invest in yourself (even if your firm does not). You will make yourself more valuable to the firm, and enjoy your job more as well.

Recently I asked a group of about 50 professionals if anyone had spend as much as $100 of their own money during the preceding 12 months on education.

Two people raised their hands. Most people spend more on the outside of their heads (hair styles and cuts) than they do on the inside of their heads.

At a recent marketing session, several of the people complained about the time (four hours) to read two paperback books on customer service. These 30-year-olds had begun the process of retirement at an early age.

Developing Your Selling Skills
Here are three key areas where you should invest in your marketing acumen now:

1. Speaking and Writing
All professions are changing from technicians to communicators. Technology is becoming the “technician.” Join Toastmasters International or take a speaking course. When you invest in your communication skills, you are creating a bright future for yourself.

Write at least two articles for publication in the next year. If you do not feel qualified, as someone who is an excellent writer to coach you and proof your material. Consider taking a creative writing course.

2. Invest in Your Clients
Spend 2% to 5% of your time meeting with clients “off the clock.” Find out about your clients’ businesses.

Learn about their problems, competition, and technology. Learn about their families, friends, and other acquaintances.

Others are selling to your clients. Why shouldn’t you? Don’t assume you know what your clients want – ask them.

Make certain you let you clients know you are investing in the relationships so they don’t think you are billing them.

3. Develop Two New Referral Sources
Your clients’ other professionals and bankers are good places to begin developing referral contacts.

If you will focus on developing two new strong referral sources a year until you’ve gained 12, you will never starve for new clients.

Partners who have 12 acquaintances who send them just one referred lead a year are known as rainmakers.

If you start building referral contacts early in your career, it is easy. If you wait until you’ve been in the business for 10 years, building 12 referral sources is hard. Inch by inch, anything is a cinch. Yard by yard, anything is hard.

3  Strategic Advances for Your Owner Group
A retreat is really a preparation to advance vigorously. That’s why most of my clients now use the word advance. Holding an annual strategic advance will help you accomplish three key things:

• Strengthen your firm’s overall strategy.

• Assure that your structure, systems, and staffing are in alignment with your strategy.

• Improve your commitment to action.

With a strategic advance, all of your owners can feel involved in the firm and its management processes, enthusiastic about marketing the firm to clients and others, motivated to achieve their individual objectives, and an important part of a committed them.

The principals of Waugh & Co. have conducted and facilitated advances for over 25 years. Our clients have used them with great success.

Management’s Advance
While some advances are opportunities to “get away from it all,” advances really should be for “getting into it”.

Educational and religious groups have used advances for years. But only recently have advances become popular for professional firms.

Objectives
We want to get away from the daily routine, the phone calls, the meetings, and all other activities that might distract us from the advance’s objectives.

A successful advance will have a major impact on the achievement of company goals. Therefore, it requires the unfettered participation of the attendees.

Leadership by top management in planning and conducting the advance is a must.
Advances can have any or all of several objectives.

A group that hasn’t worked together very long or closely can use the advance to build lines of communication and establish relationships among members.

The advance should almost always be used to motivate the management team and build a spirit of teamwork. Achieving those objectives can be greatly enhanced by following a few simple rules:

• Keep the dress and atmosphere informal.
• Keep the size of the group manageable so everyone can and must participate.
• Arrange seating so participants are comfortable and feel part of the group.
• Eat meals as a group.
• Provide some social time for spontaneous interactions among members.
• Everyone remains at the advance from start to finish.

Wrapping up
An advance offers an exceptional vehicle for educational programs for management. Remember, it’s imperative that you know what your objectives are for the advance, or a substantial time and money investment will go down the drain.