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LEGAL SALES - QUESTIONS ABOUT THE PROSPECTIVE CLIENT
September 16, 2011
lEGAL SALES – QUESTIONS ABOUT THE PROSPECTIVE CLIENTIn law firm business development, when preparing for a prospective client meeting, it's important to not only prepare your pitch, but also to prepare answers. Doing your homework on the client is the most important research you can do before you are in the RED ZONE, ready to make a pitch. When you show up to the meeting, being able to show them you've done research about their company shows your interest, dedication and work ethic. * Do you know what's happening in our marketplace? * Do you understand the pressure we're under? * What do you know about our competitors and their products? * Do you understand how we communicate internally?Knowing the answers to these questions will help you better develop a plan for that client. This will, in turn, foster profitable business development and ensure more success at closing.
lEGAL SALES – QUESTIONS ABOUT THE PROSPECTIVE CLIENTIn law firm business development, when preparing for a prospective client meeting, it's important to not only prepare your pitch, but also to prepare answers. Doing your homework on the client is the most important research you can do before you are in the RED ZONE, ready to make a pitch. When you show up to the meeting, being able to show them you've done research about their company shows your interest, dedication and work ethic. * Do you know what's happening in our marketplace? * Do you understand the pressure we're under? * What do you know about our competitors and their products? * Do you understand how we communicate internally?Knowing the answers to these questions will help you better develop a plan for that client. This will, in turn, foster profitable business development and ensure more success at closing.
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.