IT IS WHAT IT IS

If one were to compare climbing a mountain to the litigation support marketplace, it would be reasonable to suggest that the incline is steadily getting steeper.  As we enter 2003, there are opportunities which, if taken advantage of, will propel your business forward, allowing you to capture greater market share. 

Reflecting on the year just ended, are you glad ‘02 has come and gone?  If you could have known in January of ‘02 what you now know, would you have done a few things differently?  Looking ahead, have you completed your projections for ’03?  If so, what percent increase did you project?  In your projections, did you allow for changes that are taking place in the marketplace and make adjustments accordingly?

The title of this newsletter, “It is what it is,” infers that there is a certain reality about the conditions of the marketplace. There is, however, a variable in the equation. The outcome is always going to be greatly influenced by how individual companies react to those conditions. In 2003, you can count on most of the following, regardless of the market in question:

• Your market(s) will have an increasing number of competitors.
• Some of your competitors will choose to try and gain market share by reducing their prices.
• Some of your account managers will feel they must also reduce their prices in order to be competitive.
• You will have to constantly stay on top of your accounts receivables, or “days outstanding” will creep up on you.
• You will always need to be on guard with regard to possible losses brought on by the bankruptcy of one of your law firm’s clients.
• More projects will shift to imaging, causing the paper side to shrink.
• Electronic discovery services will steadily become a greater opportunity for you, or for your competitors!
• National contracts will continue to impact your overall opportunity in certain markets.
• In ’02, many law firms across the country experienced a 10-20% reduction in billable hours. It is not likely to improve much in ‘03…the exception being Bankruptcy. Law firms do not typically send out more work (projects) while billing fewer hours!

All of these conditions, at some level, affect your account managers’ performance. I have known very few sales people who couldn’t use good guidance from time to time.  I haven’t known any that like working in an environment where they feel they are “micro managed”.  Part of what makes a manager of account managers “great” is their ability to find the proper balance.  It will always be easier to try and force account managers to perform at a certain level, rather than to determine how to effectively motivate them to do their best.  As someone I’ve always respected would say, “tempting, but not very effective, and never endearing.”

A conference I would recommend sometime soon for each of your account managers (if you haven’t already had it) would include the following questions:

1. What do they want to accomplish in ’03 (goals)?
2. What is their plan for reaching these goals (blueprint)?
3. Realistically, how on track are they with the necessary activities to meet their plan, i.e. prospecting, calls, appointments, follow ups, etc.?
4. Does anything need to change (improve) in order for their goals to be realized?
5. How would they see you (manager) being helpful to them on a weekly, monthly basis?

This conference will be more productive and insightful if the questions are given to each account manager a couple of days in advance as an assignment to be completed prior to the actual conference.  Also, it will be helpful if you have at your disposal the numbers reflecting their activity level and results for the past few weeks.

As a business owner or manager, you are in charge of a company, a team of people.  That will always be a great position in which to be, and a great responsibility.  Our desire at The Beckham Group is to help ensure your sales team’s success through our specialized sales training.

It’s our hope that this year will be the best yet for you and your company.  Our Winter/Spring 2003 sales training schedule is listed under training schedule.  Let us hear from you soon if you plan to have one or more individuals attend any of these dates.