Concentrate on Low-Hanging Fruit was published by The Bottom Line, a publication focused on accounting and financial professionals.

This article explores how to identify and maximize low-hanging fruit i.e. practice development opportunities which not only are the easiest to pick but also pack the biggest punch.

The discussion is followed by two case studies, illustrating the myriad of business development options from which one must choose, implementation and of course reaping the rewards. Here is a short excerpt:

The most impactful way to build your practice is to leverage your firm’s low-hanging fruit – those opportunities that are easiest to access and most cost-effective at reaching your market with a powerful, targeted message about your firm…In ways that were simply unimaginable only a few, short years ago, professional practices now have remarkably easy and affordable access to local and global markets, regardless of their sizes or locations…As a result, the challenge is actually to narrow down the options to identify the ones that are the best fit for your practice…

Case study: Targeting a specialized industry

Business challenge

Miles Smith had been working steadily as an independent, corporate accountant for the past eight years. As time went by he found himself becoming more committed to his work in the entertainment industry because of a long-time, personal fascination with films and documentaries. When he began to seriously consider giving heavier focus to this preferred area of practice, he realized that although he had a number of loyal clients and referral sources in the entertainment sector, he would need to make a more concerted effort to truly build in this direction. What he didn’t know was how to get started…