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The Three-Headed Sales Monster
Discussions about cross-selling in law firms remind me of the well-publicized discussions a few years ago in the scientific world about cold fusion. Both represent their respective professions' Holy Grail, but no one has really made much meaningful progress toward either, in part because there are some very real and persistent barriers. More significantly in the case of cross-selling, the problem is self-created.
By associating themselves and their value to clients exclusively with their practice specialty, lawyers create and perpetuate a product-centric focus that is the root of the cross-selling problem. If your nanotechnology client perceives you as an IP expert, what would make them think of you in relation to tax issues, or employment problems? On the other hand, if, as a result of an industry focus in your conversations, they saw your primary value being your understanding of ' and credible thinking about – the emerging nanotechnology space, all of the problems inherent in building a nanotech company are natural subjects for discussion. What would be odd about talking to a lawyer who understands the industry and the business about capitalization challenges, competing for scarce talent, protecting the technology itself, creating distribution alliances, financing and building a factory, etc.? Don't all of the firm's varied services derive from these underlying business realities?
How to Overcome the Barriers We Created
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