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Lawyer Business Development
LAWYER BUSINESS DEVELOPMENT continues the discussion of what in-house counsel expect from outside counsel during the “courting” period. I have had outside counsel tell me they were surprised by the wide range of questions they were asked during a marketing presentation. And I've also heard from in-house counsel that they were surprised at how little information the presenters really had.Pre-client meeting preparation is critical to winning a new engagement, even from a current or recent client. Close communications during any contact effort, whether pursuing new business or arranging for an in-house presentation, are critical to assess success, analyze and adjust to challenges, and keep on moving. Be willing to ask questions such as what are the most important criteria to you in evaluating current client work including: * Understanding their business * Client focus * Dealing with unexpected changes * Commitment to help, etc?Who are the final decision makers at the client, the user of your services plus a budget/financial executive? In-house counsel recognize the need to provide this information but most won't volunteer it. They want to be asked as part of their evaluation process.
LAWYER BUSINESS DEVELOPMENT continues the discussion of what in-house counsel expect from outside counsel during the “courting” period. I have had outside counsel tell me they were surprised by the wide range of questions they were asked during a marketing presentation. And I've also heard from in-house counsel that they were surprised at how little information the presenters really had.Pre-client meeting preparation is critical to winning a new engagement, even from a current or recent client. Close communications during any contact effort, whether pursuing new business or arranging for an in-house presentation, are critical to assess success, analyze and adjust to challenges, and keep on moving. Be willing to ask questions such as what are the most important criteria to you in evaluating current client work including: * Understanding their business * Client focus * Dealing with unexpected changes * Commitment to help, etc?Who are the final decision makers at the client, the user of your services plus a budget/financial executive? In-house counsel recognize the need to provide this information but most won't volunteer it. They want to be asked as part of their evaluation process.
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.