Why the 'So What?' test is so important to the success of your business development efforts

When I was younger, my mother would often say to me: "Because it's important to you Richard, doesn't make it important to me".

My mother had worked with lawyers earlier in her career, and I thought this piece of advice just profound (as you typically do with tidbits your mum says when growing up!). Until one day I was working with a partner who said exactly the same thing to me when I mentioned I had been waiting to see him all day!

So what's the point I'm trying to make here?

Well, as with most things in life, when we think about what our clients need/want we think of this from the prospective of what we can provide them, rather what their true needs/wants are. To try and minimise this, I often ask my clients: "So What?".

Asking "So What?" can sound abrasive. But, what it does is help to clarify the message, the reason, the rational we are sending to our clients about why they need our services/products and why they need them now.

And so for this BD Tips Wednesday post I thought I would run through a high-level overview of the "So What?" test.

What is the "So What?" Test?

Being required to answer the "So What?" question is a means of evaluating the relevance and impact of your proposal/messaging to clients or prospective clients.

Answering this simple question demands clarity, purpose, and a focus on client outcomes - and helps move the narrative away from the product/service you are trying to sell.

If you are unable to answer this simple question convincingly, then your proposal almost certainly lacks relevance to the client and will not resonate with them.

Benefits of getting the right answer(s) to the "So What?" Test

Aligns your offer with the what the customer values

• Asking the "So What?" question forces you to examine whether your solutions genuinely solve the customer’s problem(s). This alignment ensures you focus on outcomes that genuinely matter to your client.

Sharpens your messaging

• In proposals and presentations, cluttered messaging dilutes impact. The "So What?" question helps eliminate unnecessary fluff and refines your message to its core purpose. Clear, concise messaging drives client engagement.

Helps build credibility

• Proactively applying the "So What?" question puts you in the shoes of your client. You are able to anticipate their questions and build a solid case for your services/products. Demonstrating this level of critical thinking goes along way to establishing trust and credibility - it's not about you, it's about them!

Ultimately it saves you time!

• Actively applying the "So What?" question acts as a filter to identify opportunities that are worth pursuing. If you can’t articulate why an initiative matters, it might not be worth the investment of time and resources pursuing that opportunity!

Bringing it all together...

The "So What?" test isn’t just a question - it’s a discipline. Asking the question allows you the opportunity to refine your message - to sharpen your focus, align your efforts, and ensure you’re solving the right problem, for the right person, with the right tools.

Incorporating the "So What?" test into your business development efforts will result in your business development activities becoming more impactful; your messaging more persuasive; and your win/loss ratio becoming more transformative!

Need Help With Your Business Development?

Get in touch if you want to talk about any of this. We also offer a very affordable BD Audit and Training package.

Knowing Your Point Of Difference

I often hear partners and business development managers tell me that it is hard, if not impossible, to tell the point of difference (POD) between what their firm offers with what their competitor firms are offering.

With this in mind, for this BD Tips Wednesday I thought I would share with you two tools that I use that should help you not only know what/where your POD is, but also how you can be maximizing the value from that POD.

Step 1: Feature Comparison Table

Step 1 is to complete a Feature Comparison Table.

Here, you need to write down a list of products that both your firm and your competitors offer.

The 'products' here can be:

• 'Services': such as tax, equity/debt capital markets, or mergers & acquisitions.

• 'Geographic': such as offices in all the major capital cities.

• 'People': such as the number of partners/senior associates you have in each office.

What you are looking for is a table that looks something line this:

Step 2: Client Value Matrix

Step 2 is to complete a Client Value Matrix.

Here, you need to keep the same 'products' you had in Step 1, but you then need to ascertain/determine if your client or target client values this product (I would suggest you use a 1-10 scale here).

The matrix should look something like this:

Bringing it all together

Once you have completed Steps 1 and 2, overlay the results of Step 2 on Step 1 and you not only have a POV, but you also a Client Value Matrix.

Here's the kicker, do this right and you'll know what your client/target values, as well as how you differ from your competitors and QED you can charge a premium - otherwise known as 'value pricing'.

If you have stuck with me this far, here's a TIP:

Use these tools with the tool I suggested in 'Resell before you Cross-sell' and you will have a bag of tools that will go long way to helping you standout from your competitors.

Need Help With Your Business Development?

Get in touch if you want to talk about any of this. We also offer a very affordable BD Audit and Training package.

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