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Moving the Sales Process Along (Frank Mims V.)
Don't you just hate it when you know you have done everything correctly in the selling process and the customer is stalling? That customer repeatedly tells you things like, we will come in for a demo later this week, and then does not show or, we will review your proposal tomorrow, and tomorrow never comes, and my favorite one of all ' I am meeting with the committee next Thursday and we will sign off on your agreement, but nothing happens. When the process is stalled several things are occurring with the prospect and with you.
Why Can Stalling Be a Problem?
The obvious answer is ' this is a delay in the signing of your agreement, but here is what is really happening when a prospect/customer stalls in the middle of the sales process. PROSPECT First, your competitors are in the offices of your prospect/customer and they are not talking about how well your product/service fits their needs. Second, in a fast-changing World the need/problem has changed (become larger or smaller) and your solution no longer fits. Third, the company has merged or been bought and your contact no longer participates in the decision.
YOU When the process stalls, so does your energy level. The zeal that you attacked his or her problem with has been transferred to another stall? Several things come to mind. prospect. All that time spent and energy wasted. What do you do to cure a stall?
Next column covers 'The Project Stall.'
Don't you just hate it when you know you have done everything correctly in the selling process and the customer is stalling? That customer repeatedly tells you things like, we will come in for a demo later this week, and then does not show or, we will review your proposal tomorrow, and tomorrow never comes, and my favorite one of all ' I am meeting with the committee next Thursday and we will sign off on your agreement, but nothing happens. When the process is stalled several things are occurring with the prospect and with you.
Why Can Stalling Be a Problem?
The obvious answer is ' this is a delay in the signing of your agreement, but here is what is really happening when a prospect/customer stalls in the middle of the sales process. PROSPECT First, your competitors are in the offices of your prospect/customer and they are not talking about how well your product/service fits their needs. Second, in a fast-changing World the need/problem has changed (become larger or smaller) and your solution no longer fits. Third, the company has merged or been bought and your contact no longer participates in the decision.
YOU When the process stalls, so does your energy level. The zeal that you attacked his or her problem with has been transferred to another stall? Several things come to mind. prospect. All that time spent and energy wasted. What do you do to cure a stall?
Next column covers 'The Project Stall.'
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.