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WHAT DID NOT WORK
WHAT DID NOT WORK -1. Offering to handle and manage what inside counsel already have the skills to manage.2. Relying on good results but not working on the relationship.3. Offensive humorous comments.Conducting comprehensive research on your clients and prospects, both as individuals and on their companies is one of the single most important components to successfully closing a new engagement. Yet it is one of the major reasons in-house counsel do not retain firms. Sure, winning a major piece of litigation, completing an acquisition, settling a strike are all positives. But if you ignore continuing to build the client relationship, you will face “I just won a major victory for my client. Why hasn't she called me?” So do your homework. If you do have services which can replace those currently being conducted by in-house counsel, offer to do so only if you have previously learned that they want to contract them out. Don't independently offer to handle and manage what they can already do.The third failure may occur when a completely innocent humorous comment is made by a colleague during a pitch or presentation meeting. You must know who will be in the room from the in-house group and learn enough about their backgrounds to avoid the problem. This is one of those areas where you may not get the work and never be told why.In the next blog column, we'll discuss additional foibles committed by attorneys when trying to win more business. Allan Colman [email protected].
WHAT DID NOT WORK -1. Offering to handle and manage what inside counsel already have the skills to manage.2. Relying on good results but not working on the relationship.3. Offensive humorous comments.Conducting comprehensive research on your clients and prospects, both as individuals and on their companies is one of the single most important components to successfully closing a new engagement. Yet it is one of the major reasons in-house counsel do not retain firms. Sure, winning a major piece of litigation, completing an acquisition, settling a strike are all positives. But if you ignore continuing to build the client relationship, you will face “I just won a major victory for my client. Why hasn't she called me?” So do your homework. If you do have services which can replace those currently being conducted by in-house counsel, offer to do so only if you have previously learned that they want to contract them out. Don't independently offer to handle and manage what they can already do.The third failure may occur when a completely innocent humorous comment is made by a colleague during a pitch or presentation meeting. You must know who will be in the room from the in-house group and learn enough about their backgrounds to avoid the problem. This is one of those areas where you may not get the work and never be told why.In the next blog column, we'll discuss additional foibles committed by attorneys when trying to win more business. Allan Colman [email protected].
Top 5 Strategies for Managing the End-of-Year Collections Frenzy
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
The Self-Service Buyer Is On the Rise
Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?
Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.
Sink or Swim: The Evolving State of Law Firm Administrative Support
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Tax Treatment of Judgments and Settlements
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.