There's No Such Thing as "Non-Billable" Hours
To really develop a marketing culture that everyone in the firm can embrace, one suggestion is to eliminate the word 'non-billable' when describing the time invested in your firm's marketing initiatives. Instead of categorizing marketing and business development as something 'negative' (with a focus on the "non"-billlable concept) think about it as something that is really valuable for the firm. At Sobel & Co. we talk about "Sobel hours" which refers to all the time we spend enhancing and growing the firm. The hours are billable - to us.
Hours spent doing billable work are the core foundation of your firm and no one would dispute that. But the hours you invest in your firm's growth, when writing an article, speaking at a program, or networking at a trade association, will pay off in the future. Those firms that only focus on revenue for today may be missing the opportunity to be creating a process to ensure revenue for tomorrow.
Think about those 'non' - billable hours and reflect on a way to enhance their stature in your own firm! Share your ideas, we would love to hear from you.