Today, growth leaders are once again focused on organic growth, often while navigating mergers, acquisitions, private equity investment and increasing competitive pressure. As a result, firms are discovering bottlenecks in both their growth strategies and the skills needed to execute them.
If you’re a Chief Growth Officer, partner or firm leader, where should you focus? It starts with making intentional decisions about what to develop, what to eliminate and where hidden opportunities exist. While these lessons are especially relevant for professional services firms, they apply to B2B organizations pursuing sustainable growth.
Many firms pursue too disparate opportunities with focus on new business. There is better leverage in growth through existing clients and with a focus on industries where you are well known and have a large addressable market. Below are several strategies that top firms are deploying to realize better leverage and more sustainable growth.
Business acumen over technical expertise alone. Knowledge of your firm’s services remains important, but it’s no longer a differentiator. Growth happens when professionals understand client business challenges, industry dynamics and strategic priorities, which enables stronger client conversations, better positioning, and higher-value opportunities.
Ideal Client Profile (ICP) discipline. Define and consistently pursue a small number of ideal client profiles within the industries you serve. Combining market research with clear ICP criteria improves revenue quality, profitability and win rates while reducing opportunity cost.
Cross-selling existing clients. Most professional services organizations retain a significant percentage of clients year over year, and existing relationships often generate most of the revenue growth through service expansion and cross-selling. Firms that systematically introduce additional solutions to existing clients create faster, more profitable growth than those relying exclusively on net-new business.
What should firms stop doing?
Producing proposals too early. Proposals are valuable when they support a well-qualified opportunity. Too often they become a substitute for business development. Strong growth firms use proposals strategically as a collaboration and differentiation tool — not as a volume exercise.
Relying exclusively on partner-level selling. Firms that build growth skills beyond the partner group create more relationship entry points, improve succession planning and strengthen long-term valuation.
Treating CRM as a compliance system. Growth-oriented firms use CRM to drive pipeline visibility, support ICP discipline, identify cross-selling opportunities and improve decision-making.
Firms that take the time to understand the hidden growth advantages will create better opportunities and realize the growth they are looking to achieve. As service offerings expand, firms must proactively connect client challenges to additional capabilities and solutions. Also, remember that retention does not equal loyalty. Firms that create exceptional client experiences and reinforce that every client belongs to the firm, and not an individual professional, are better positioned to retain and grow key relationships. Finally, improve decision speed. Opportunities are often lost to indecision rather than competitors.
The bottom line: Firms that win today and for the future are decisive about where to focus their time, talent and growth investments. ●
Amy Franko is CEO and LinkedIn Top Sales Voice at Amy Franko Associates
