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					Unmet, Unaddressed, and Unrecognised Needs Are Business Opportunities
Clients have needs: some recognised, others unrecognised. Among the needs
they recognise, some clients may have unmet needs - needs for which they
have not yet found a professional service solution. Unmet needs present
business development opportunities for an expert professional.
By implication, unmet needs can be classed as:
those which are unsatisfied - no satisfactory service has been availed
those which are unaddressed - no solution has yet been sought
those which are unrecognised - they don't yet know they have a need.
Unsatisfied needs are great business opportunities since the client
understands what they need and is likely to be open to a well-conceived
solution. Unaddressed needs yield the myriad benefits of greenfield
opportunities for an imaginative and persuasive professional.
Unrecognised needs only become worthwhile opportunities for professionals
prepared to do the groundwork to create need recognition with an action-
oriented client.
In the legal services sphere, our research reveals several clusters of
unmet needs. These include:
intellectual property
commercial dispute resolution, without recourse to litigation
information technology services
communication and entertainment technology services
compliance awareness and training for front-line client personnel
streamlining multi-handled processes involving internal and external
resources and expertise
workforce risk reduction and legal support for best practice in human
resources
financial risk reduction
small business structuring and risk management
family financial arrangements, estate planning, and intergenerational
wealth transfer
part-time outsourced general counsel.
Rather than battling for market share among clients whose widely
understood needs are already being satisfied by others - and possibly
with a long queue of aspirants jockeying to competitively displace the
incumbent - why not create business development leverage by pursuing
unsatisfied, unmet, or even unrecognised needs ?
Linda Julian is acknowledged as a leading authority on strategic practice
development and how to win business for law firms.
Since 1979, she has consulted with lawyers and other professionals
throughout Australia, New Zealand, the Pacific, and Asia on a wide range
of business acquisition, client retention, and strategic management
issues.
Her book The Passionate Professional: creating value, success, and
prosperity has sold in 13 countries and has received wide acclaim. Linda
lectures in strategic management and marketing professional services at
post-graduate level. She leads the small and highly specialised Julian
Midwinter & Associates consulting practice.
Read more business development tips at http://www.julianmidwinter.com.au/

				
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