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CLOSING MORE BUSINESS
June 27, 2012
CLOSING MORE BUSINESS – We are focused on rapid development. So, for example, if you take a firm that wants to bring in revenue rapidly, we can and do work with them. And we work with groups of people to show them how to bring [business] in first and then to back up and say, “OK, what do we need to do internally to sustain this kind of activity in the future? Are there things in our marketing and business development programs that we can improve to focus on closing?”The three major themes we urge clients to focus on are: generating revenue rapidly, which is important to many. The second is building a pipeline, which means that there should be an expansion of interest among attorneys who want to particiipate. The third thing is to develop personnel.Next column will focus on understanding needs and asking questions.
CLOSING MORE BUSINESS – We are focused on rapid development. So, for example, if you take a firm that wants to bring in revenue rapidly, we can and do work with them. And we work with groups of people to show them how to bring [business] in first and then to back up and say, “OK, what do we need to do internally to sustain this kind of activity in the future? Are there things in our marketing and business development programs that we can improve to focus on closing?”The three major themes we urge clients to focus on are: generating revenue rapidly, which is important to many. The second is building a pipeline, which means that there should be an expansion of interest among attorneys who want to particiipate. The third thing is to develop personnel.Next column will focus on understanding needs and asking questions.
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.
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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.