Fresh Starts: Practical Ideas to Energise Your Business Development Plans
The start of a new year offers a unique opportunity to focus on your client and business development goals. Psychologists call this a "temporal landmark" — a moment when you mentally draw a line between the past and the future. Think of it as wiping the slate clean and giving yourself a fresh start.
Research by Dai, Milkman, and Riis (2014) shows that temporal landmarks—like the New Year—can boost motivation and help people achieve their goals. By incorporating multiple temporal landmarks throughout the year, you can sustain momentum in your business development plans.
Dan Pink (2018) even identifies 85 more dates in the year that can spark 'fresh start' energy - but the New Year is the most widely shared.
Here are four approaches to help you get the most from a fresh start:
1. A MARKET OF ONE
Firm-wide business development plans provide purpose for teams, but the initial energy can fade quickly.
If that sounds familiar, narrow your focus. Concentrate on one client relationship at a time rather than the entire client base. Picture one person who could benefit from a stronger relationship with you and arrange a discussion that explores the bigger picture.
Use the new year to:
Refresh the relationship with a long-standing client.
Reignite a dormant relationship.
Reboot an alliance that has drifted.
2. START SMALL, AIM BIG
In Business Development, landing a "big whale" right off the blocks is a very, very tough, goal. Instead, aim for a good pace of sub-goals and incremental wins. This consistency builds confidence, gives you time to adjust your approach along the way, and prevents slumps between milestones.
Professor Heidi Gardner’s research on Smart Collaboration in professional services firms highlights the exponential impact of smaller-goal wins on revenue. For example:
Convert 10% of clients using one service to engage with two services.
Convert 10% of clients using two services to engage with three.
Help a key referrer discover one additional service you offer.
These small changes can lead to significant results over time.
3. SHARED BEGINNINGS
Your clients also celebrated the New Year. After the holiday interruption, they may be reevaluating their bigger-picture goals, priorities, and partnerships.
Wendy Liu’s (2008) research found that interruptions make people more open to new ideas and increase their appetite for high-quality, high-cost options. Emotional desirability often outweighs rational feasibility during these periods.
Use this time to:
Pitch a novel idea to an existing client.
Ask for client feedback on their overall relationship with your firm.
4. TIME TO DROP THE DEAD WEIGHT
The start of the year is the also perfect time to leave low-value activities in the past.
Ask clients or referrers about the value of your "value adds" and service delivery parameters. This can highlight areas for strategic underinvestment and free up time for new initiatives.
Reassess your network. Withdraw from energy-sapping relationships and reinvest in deepening or diversifying your network of contacts.
The fresh start effect of a new calendar year, or today’s Chinese New Year, is amplified because your network is likely feeling the same way. Social influences reinforce the proactive mood, making your approaches feel natural, not salesy or desperate.
Everyone is in a bigger-picture frame of mind—but only for a short while.
Want More?
If you’d like to know more about kick-starting your business development plans, get in touch with Sue-Ella at sueella@prodonovich.com or schedule a private 45-minute one-to-one meeting at BD45.com.au.
Sue-Ella hosts a range of sessions on business skills for professionals. Find them in the Seminars & Events tab on prodonovich.com.au.
Sue-Ella is the Principal of Prodonovich Advisory, a business dedicated to helping professional services practices sharpen their business development practices.
She works with Law Firms and Business Consultants that focus on positive client relationships, and with individuals who want personal, intelligent support.
©Prodonovich Advisory. Please respect our copyright and the effort taken to produce the original material in this article. This article, and any portion of it, may not be reproduced or used in any manner whatsoever without the express written permission of the author.
References and Further Reading
Six Ways to Tackle Your Business Plan
The Key To Successful Practice? Stop Focussing On Winning Work
Dai H, Milkman K L, Riis J (2014) The Fresh Start Effect: Temporal Landmarks Motivate Aspirational Behavior. Management Science.
Gardner H (2022) The Collaborative Imperative for Today’s Law Firms: Leading High-Performance Teamwork for Maximum Benefit. Harvard Law School, Centre on The Legal Profession.
Liu W (2008) Focus on Desirability: The Effect of Decision Interruption and Suspension on Preferences, Journal of Consumer Research, Vol 35, Issue 4, December, Pages 640-652.
Pink D (2018) When: The Scientific Secrets of Perfect Timing, Riverhead Books