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How Some Firms Are Able To Grow in any Market

This is the subtitle of a research report delivered on February 24 at a workshop in Tyson’s Corner, VA that documents the reasons behind how high growth professional service firms do better in both top line and bottom line results than their average growth competitors.

The research was sponsored and completed by Hinge, a DC-area marketing and branding company, The McLean Group, a national middle-market investment bank and ROI, an international business-to-business market research firm. The McLean Group also offers the Exit Strategies Institute, which is a think tank and education entity that documents the factors that makes businesses more valuable and helps companies implement them.

The lessons learned from the research can be applied to any company of any size and not just to professional service firms.

1. Frequent research of client needs and attitudes-what do they want, how do they want it? Taking in the information-especially criticism- and acting on it.

2. The criticality of having a strong differentiator-something that is important to their target market that makes the firm really different than their competition in the eyes of the people they are trying to reach.

3. The narrow, disciplined and relentless focus on a target market or two-which builds brand and also referrals.

4. The ability to clearly state and have understood what the company does, for whom it does it and the value that clients receive.

5. The shift to the use of non-traditional marketing tools-partnering, websites, referrals, outside consultants, sales training and face-to-face meetings with prospects and clients.