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PRE - CLIENT BUSINESS DEVELOPMENT I.
PRE – CLIENT BUSINESS DEVELOPMENT I.Close communications during any client 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. I've often had outside counsel tell me how surprised they were about in-house questions they were unprepared for. And I've also heard from in-house counsel how surprised they were at the absence of communications once an engagement started. So what does work when you are preparing for a legal marketing foray? The following questions should be asked and answered, by you and your colleagues, before you begin pursuing current or recent clients. * How do you define the current relationship? * What is client's satisfaction level with your work? Can you be sure? * Who are the contact points in your firm that have contacts at the clients? And have you gathered their information and strategies?More next column.
PRE – CLIENT BUSINESS DEVELOPMENT I.Close communications during any client 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. I've often had outside counsel tell me how surprised they were about in-house questions they were unprepared for. And I've also heard from in-house counsel how surprised they were at the absence of communications once an engagement started. So what does work when you are preparing for a legal marketing foray? The following questions should be asked and answered, by you and your colleagues, before you begin pursuing current or recent clients. * How do you define the current relationship? * What is client's satisfaction level with your work? Can you be sure? * Who are the contact points in your firm that have contacts at the clients? And have you gathered their information and strategies?More next column.
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.