Selling Professional and Financial Services Handbook
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Selling Professional and Financial Services Handbook

Edited by Scott Paczosa · Chuck Peruchini
John Wiley & Sons November 2013

Specifications

ISBN-13
9781118728147
Publisher
John Wiley & Sons
Publication
November 2013
Format
Hardback , 192 pages
Jurisdiction
International ? Countri(es) for reference only

Details

An effective strategic framework for successful face-to-face selling for financial services industry professionals

Times are very tough for people who sell professional services and Selling Professional and Financial Services Handbookoffers a new solution proven in practice. The book describes methods the authors have used and taught since the 1990s, most recently at a major consulting firm, where they led a Global Business Development team to revenue gains of 500% over six years — in a period that included the recession of 2008-10.

The solution is not any new twist on face-to-face selling techniques or the art of persuasion. It’s a strategic approach built around a simple fact:  the markets are tight but far from static. Even with lean budgets, client companies must respond to urgent changes and emerging threats in their industries. Thus they will buy services from the sellers who can help them detect, understand, and cope with what’s coming their way.

This handbook outlines a systematic way of becoming such a valued resource. Readers learn to scan the horizon for early signs of “rock-ripple events.” Major changes in the business world often spring from new developments that are little noted or heeded, at first, by the client companies soon to be affected by them.  But like a rock dropped in a pond, these events set off ripples that sweep through entire industry sectors, creating must-have service needs.

The book is written for everyone who sells, or is responsible for selling, professional services. This includes but is not limited to: law firms, consulting firms, finance industry, public relations, engineering, and architectural services.

Readers who can benefit from the dynamic approach hold a variety of positions. They include:

  • Attorneys, consultants and other practitioners who must sell their services as well as execute.
  • CEOs, equity partners, practice-area leaders, functional and divisional leaders
  • Private Equity or Venture Capital executives
  • Sales or business-development professionals, from entry level to senior level
  • Sales and marketing managers

But the book is for sellers in every category who need a new and better approach to selling. Many, even the most skilled, simply have not adjusted to the new normal of today’s economy. They persist with old strategies that cannot be as productive as they once were, such as pursuing one-off opportunities (which are too few and too hard to win in lean times) or old-style “relationship selling” (which gains little if any traction). Selling Professional and Financial Services Handbook gives all such readers a new strategic framework within which to apply their face-to-face selling skills. It is an approach that puts them in position to win — so they can sell from ahead of the game, instead of struggling to keep up with it.

Table of Contents

Preface

A New Way to Sell

Chapter 1: Changing Times, a New Dimension: The Rock-Ripple Strategy

It’s All about Recognizing Change

What the Man on the Doorstep Did

Sense the Wave, Trace the Ripples

The Rock-Ripple Effect

Chapter 2: Fields of Vision, New Relationships: On Being a Guru

What Doesn’t Work; What Does

Building Guru Status

Creative Solutions

‘What’s Next?’

Chapter 3: The Four-Stage Process: Why and How It Works

Why the First Mover Wins

Getting Started, from Wherever You May Be Currently

How the Stages Work

Stage 1:  IDENTIFY

Chapter 4: The ‘Identify’ Stage: What to Look For

The Industrial Mindset

Defining and Thinking About ‘What to Look For’

Experiments in Mind-Stretching

Drawing Parallels

Chapter 5: The ‘Identify’ Stage: How to Look, Systematically

The Entrepreneurial Mindset

Putting Yourself in the Path

Tapping the Internet

Tapping Human Intelligence

Narrowing Down and Homing In: How the Identify Process Comes Together

Moving On …

Stage 2: EVALUATE

Chapter 6: Intro to Evaluation:  Basics and the First Step

The Process:  First Things First

Lost in Space

Other Possible Outcomes

Numbers vs. Judgment

Moving On

Chapter 7: Deeper Evaluation

Evaluation Points

Getting to ‘No’

A Note on Strategy vs. Sales Skills

‘Yes,’ Plus Continuous Improvement

Every Step Counts

‘Yes’ Plus One for the Portfolio

Stage 3:  INNOVATE

Chapter 8: Innovation and Preparation

Where You Stand in the Process

Innovating the Solution

The Multi-Layered Benefits of Innovation

Innovating the Campaign

Building the ‘Package’ for the Sales Force

Background Materials

Targeting

The Message and the Talk Track

The Professional Team and Qualifications

Chapter 9: Top-of-Mind Tools and Launch

Parallel Market Efforts for Persistent Issues

Targets, Tracking, Reporting

The Launch Call

Stage 4: DEPLOY

Chapter 10: Transforming How You Sell: What’s New, What Isn’t

A Game Plan, Not Basic Coaching

What You Are Setting Out to Do in the Deploy Stage

Transformation, Not a Blitz

Chapter 11: Steps to Full Deployment

Tracking, Refining, and Extending the Initiative

What’s Next, What’s Next?

Initiatives May End, but the Process Doesn’t

Building Relationships with Content Tools and Events

Selling to Both Sides of the Client

Roundtables and Other ‘Scale’ Outreach Events

Keep It Simple

Extending Relationships into Other Initiatives

The Multiplier Effect and the Small-World Effect

Indirect Sales: the Ultimate Payoff

Chapter 12: ‘Hunting’ or ‘Farming’?  It’s Both: An Approach for New and Existing Clients

The Downsides of Account-Centric ‘Farming’ (and Why Rock-Ripple Is Superior)

Efficiencies on the ‘Hunting’ Side

Where the Differences Come In

Indirect Sales: the Big Difference

Chapter 13: Where to Go from Here

Boarding Call: the Destination, the Ticket

It Always Starts with What’s Next

Implementing for an Individual

Implementing Across a Team

Implementing Across a Firm

What’s Next?

Appendix A: Books for Further Reading

Appendix B:  Strategic Initiative Checklist

About the Authors

About the Companion Website

Index

About the Author

Scott Paczosa is a Managing Director in the Chicago office of Navigant Consulting, Inc., with a global leadership role in strategic initiatives, identifying emerging issues and developing strategic responses to breaking market developments. Mr. Paczosa has spent over twenty years coordinating a wide array of services to clients from Fortune 10 corporations to law firms, and across numerous industries including banking and finance, healthcare and pharma, energy, insurance, steel, and transportation. These services have included investigative and litigation services, expert witness testimony, restructuring, valuation, strategy, M&A, performance improvement, due diligence, compliance, and innovative risk-reduction. He frequently works with corporate executives and attorneys from leading law firms to develop innovative solutions for complex issues, both in domestic and international markets. Mr. Paczosa has been intimately involved in developing the firm's approach to assisting clients impacted by the turmoil of the credit crisis. Mr. Paczosa has also been heavily involved in the data breach, healthcare, antitrust, white-collar, mortgage servicing, securities initiatives, and key account program to name a few.

Chuck Peruchini is a Managing Director in the Chicago office of Navigant Consulting, Inc. He has sixteen years of experience providing clients with a range of financial advisory services, such as litigation support, valuation, restructuring, and investment banking services. At Navigant, Mr. Peruchini is focused on developing innovative strategic initiatives. Working with practitioners across the firm, he applies the strategies depicted in this book to translate emerging issues into innovative solutions for clients' most pressing needs. Mr. Peruchini is an inaugural inductee into Navigant's Client Service Hall of Fame.

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