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Myth #4: CLIENTS WANT SELLERS TO DO MOST OF THE TALKING
MYTH #4 – CLIENTS WANT SELLERS TO DO MOST OF THE TALKING.Keep your resume to yourself and let the potential client do the talking. Adopt the tried and true IBM 60/40 sales training rule – keep them talking 60 percent of the time. Spend the remaining 40percent of the time asking good questions based upon your research and talking strategy. Pay attention to your client/prospect's verbal cues and refine your pitch accordingly.In survey after survey of in-house counsel from American Lawyer Media Intelligence, Inside Counsel and BTI Consulting, the number one or two attribute for retaining outside counsel is “understands my business.” And this has been consistent through many years of polling. The best way to summarize this is with a current IBM advertisement, ” Stop sellling what you have; start selling what they need.
MYTH #4 – CLIENTS WANT SELLERS TO DO MOST OF THE TALKING.Keep your resume to yourself and let the potential client do the talking. Adopt the tried and true IBM 60/40 sales training rule – keep them talking 60 percent of the time. Spend the remaining 40percent of the time asking good questions based upon your research and talking strategy. Pay attention to your client/prospect's verbal cues and refine your pitch accordingly.In survey after survey of in-house counsel from American Lawyer Media Intelligence, Inside Counsel and BTI Consulting, the number one or two attribute for retaining outside counsel is “understands my business.” And this has been consistent through many years of polling. The best way to summarize this is with a current IBM advertisement, ” Stop sellling what you have; start selling what they need.
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.