- with Senior Company Executives, HR and Finance and Tax Executives
- with readers working within the Law Firm industries
The Hidden Traits of Successful Business Developers was delivered across two sessions to accommodate members in different regions, bringing together a wide range of perspectives from across the IR Global network. Discussions highlighted common challenges and opportunities facing professional services firms globally, including cross-selling services in the Middle East, navigating fixed-fee models in Asia, and building brand awareness in smaller or emerging markets.
One of the clearest themes to emerge is that many firms continue to rely on a small number of "rainmakers" to drive growth. While this can be effective in the short term, it creates limitations. Growth becomes difficult to scale, succession planning is constrained, and significant potential within the wider team remains underutilised.
A more sustainable approach is to treat business development as a capability that can be developed across the firm, rather than an individual trait.
The Six Attributes of Successful Business Developers
Research across professional services firms consistently points to six attributes that underpin effective business development:
- Strategic client insight – developing a deep understanding of clients and their commercial challenges.
- Consultative problem framing – helping clients navigate complexity and clearly articulating solutions.
- Relationship building – creating long-term, trusted connections across client organisations.
- Commercial discipline – maintaining focus on value, pricing, and sustainable revenue.
- Process and pipeline management – approaching business development in a structured, consistent way.
- Personal accountability and commitment – taking ownership of activity and maintaining momentum over time.
These attributes are not limited to naturally outgoing individuals. They can be identified, developed, and strengthened within teams when firms provide the right structure and support.
Moving Beyond Reactive Business Development
A common issue across firms is that business development remains reactive. Activity is often driven by immediate opportunities rather than a clear, long-term strategy. Several participants highlighted difficulties in forecasting revenue and managing pipelines, particularly where business development responsibility sits outside fee-earning roles.
Clarity is critical here. Firms that define their target clients, articulate their services effectively, and align their teams around a shared growth strategy are far better positioned to pursue opportunities consistently. Questions were also raised around how to define target clients in practice, with some firms struggling to align business development efforts without clear direction from leadership.
Unlocking Capability Within the Team
Not everyone within a firm needs to be a primary business developer, but many can play a valuable role.
The focus should be on identifying individuals with an interest or aptitude for business development and supporting them with clear career pathways and expectations. At the same time, ensuring that all team members understand the firm's services and client base can unlock additional opportunities, particularly when it comes to cross-selling and client engagement. In some cases, firms noted that opportunities were being missed simply because teams did not fully understand the breadth of services offered internally.
Technical Delivery to Advisory Value
High-performing firms increasingly differentiate themselves by shifting from technical delivery to advisory-led conversations.
This requires professionals to move beyond describing what they do, and instead focus on the problems they solve. Asking better questions, understanding the broader context of a client's business, and clearly communicating value are essential to this shift.
In many markets, particularly those with fixed-fee structures or high competition, participants noted the challenge of demonstrating value without relying on time-based billing. The ability to position services in terms of outcomes rather than inputs is therefore a key driver of success.
Building Relationships in a Hybrid Environment
The way relationships are built has evolved. While in-person interaction remains important, there is a growing need to engage clients and prospects through digital channels as well.
A number of attendees raised the ongoing challenge of building meaningful relationships in a more virtual, post-COVID environment, particularly where in-person interaction is limited. Consistent communication, thought leadership, and participation in relevant networks all contribute to maintaining visibility and building trust over time.
Participants also shared examples of winning significant clients through long-term relationship building (in some cases over several years), reinforcing the importance of consistency and patience.
Introducing Structure and Consistency
A lack of structure is often one of the biggest barriers to effective business development.
Successful firms take a more disciplined approach: managing pipelines, tracking opportunities, and maintaining regular engagement with clients. This does not require complex systems, but it does require consistency, accountability, and a clear framework.
Defining target client profiles, analysing existing client data, and setting realistic activity goals can significantly improve outcomes when applied consistently. Others noted that while networking opportunities are abundant – through chambers, consulates, and professional groups – converting those interactions into active client relationships remains a common hurdle.
Long-Term Approach to Growth
Business development is inherently long-term. Building trust, developing relationships, and creating a sustainable pipeline all require ongoing effort.
Firms that embed business development into their culture, rather than treating it as an occasional activity, are better positioned to achieve consistent growth. These shared experiences reinforce the importance of taking a structured, long-term approach, rather than expecting immediate results.
The firms that will succeed in the next 10 years are those that move beyond reliance on individual rainmakers and instead build business development capability across their entire organisation.
By creating clarity, introducing structure, and developing the right skills and mindsets within their teams, business development can become a scalable and enduring strength.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
