WHAT: new business development
WHY: little interest from staff in understanding or being involved in new business opportunities
HOW: company-wide business newspaper to educate and inspire
Deacons, a commercial law firm, had a core group of people, mainly partners, involved in the tender and new business process. Outside the partnership, staff took little interest in understanding or being involved in new business opportunities. It was only when staff were on the cusp of being appointed to partner or when they were partners that they focused on understanding the process of new business development. This was proving costly.
A company-wide business newspaper was published that reported on learnings from new business wins and losses, interviewed partners on new business pitches, and summarised findings from industry research and surveys. The format and tone was journalistic rather than a dictum from management.
There was greater involvement in new business opportunities from partners and staff. The learning curve of ‘first timers’ was lessened and they were more confident and commercial in their approach to new business. There was a greater understanding of the role partners played in business development, and they were more at ease at being involved.