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RED ZONE PURGATORY - LEGAL SALES
April 21, 2009
RED ZONE PURGATORY – How to Navigate Through the Netherworld of Legal SalesThere is a time – perhaps only a split second – between when your firm and a prospective client are engaged in a tete a tete about what to do next on a project or potential engagement. It is that moment that lies between what you and your client decide to do next and the RED ZONE. And whether the time purgatory lasts for a moment or several weeks or months, what you do during that time will determine how you fare on the other side.Before you attempt the next step, ask yourself a few questions:* Have you listened more than you've talked? Are your ideas and solutions meshing with their problems?* Have you asked questions that show what you've learned from the prospect?* Have you been sensitive to non-verbal clues?* Have you closed??? There must be a close at every interaction – this is key in all your business development and attorney marketing efforts.
RED ZONE PURGATORY – How to Navigate Through the Netherworld of Legal SalesThere is a time – perhaps only a split second – between when your firm and a prospective client are engaged in a tete a tete about what to do next on a project or potential engagement. It is that moment that lies between what you and your client decide to do next and the RED ZONE. And whether the time purgatory lasts for a moment or several weeks or months, what you do during that time will determine how you fare on the other side.Before you attempt the next step, ask yourself a few questions:* Have you listened more than you've talked? Are your ideas and solutions meshing with their problems?* Have you asked questions that show what you've learned from the prospect?* Have you been sensitive to non-verbal clues?* Have you closed??? There must be a close at every interaction – this is key in all your business development and attorney marketing efforts.
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.