Nubianette Blog

Every professional service provider needs to deploy strategies at different levels for their organisational growth, yet some still fail even with the most impressive plans in place. In our experience working with professional service providers, we have identified some common reasons why the deployment of good business strategies may fail for certain organisations. Here are five of the most common for law firms.

2020 signifies the start of the third decade of the 21st century and it is starting on a very serious note. I am talking “End-of days” and “Armageddon” themed happenings. Barely a month into the year and we were greeted with the Corona Virus outbreak around the world, which brought with it so much uncertainty that many governments and businesses had no option but to close up shop as a precaution. These are interesting times and it is inevitable that only those that adapt can survive the effects of this pandemic. Unfortunately, this applies to both human and business entities, as families are being separated by quarantine and many lives lost daily to the virus.

According to Brian Balfour, startups go through three stages: Traction, Transition, and Growth. The startup’s goals, metrics, channels, focus, team structure etc. evolve and change as a business passes through these three phases. There’s a lot of talk across industries regarding “growth” vs. “traction” and the different tactics that support each. While the term “growth” refers to a positive rate of change, this could be short-term in nature. Traction, on the other hand, refers to sustained growth over time and presents a far greater challenge. Knowing where you are on this track helps you understand what you should be spending your time on. 1. Understanding Traction Almighty traction. Nothing trumps it. Nothing! Not strategy, not beautifully developed growth plans, not Nigerian Jollof rice. Nothing! Traction is king to all. So, what is it exactly?