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Make rejection work for you. I've often heard inside counsel bemoan the fact that most lawyers do not follow up with them after losing a rfp competition. They have almost as much investment in the rfp and selection process as outside counsel and frequently indicate that they learned alot of helpful information from the competitors. Yet they may not hear from the "losers" for years. The key here is to address the fact that they…
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The latest study on CRM projects (known as the CHAOS Chronicles), conducted in 2006, shows that close to 50% of projects fail, much lower than the over 74% figure that has been circulating for years. This is good news: It means, in part, that many industries are learning to manage CRM as a living entity that changes and grows as an organization does. It also reveals that we are getting wiser about our approach to CRM projects, heeding the advice that the best way to 'eat an elephant' is one piece at a time.
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When introducing new technologies or processes, managing the challenge of change requires a clear vision, ongoing two-way communication with the affected stakeholders and an understanding of people's levels of influence and commitment to the change. A law firm's culture can impede the adoption of new processes. When employees are accustomed to performing tasks in a certain way, you are bound to come up against some resistance if the new processes translate into a loss of their routines and comfort levels. Therefore, it is imperative that you get the appropriate people involved early in the planning to make sure they understand the new systems and processes ' and how the changes will affect them and the firm.
CLIENT CO-MARKETING CONCLUDED - What else do inside counsel want?
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The popularity of the practice group — an entity within a firm comprised of those who practice a specific area of law or serve a specific industry — is well grounded, in that it opens a number of advantages to managing a practice and better serving clients. But so complex and management sensitive are practice groups that they open, as well, the easy propensity to misuse the practice group concept in a classic case of poor management canceling the value of a good concept.
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A couple of years ago, Bill Payne of Dorsey & Whitney LLP invited me to come to Minneapolis on two weekends in mid-winter. Not for a retreat or winter sports, but to meet with partners in their office on Saturdays. Payne was then the head of the M&A Group and he explained: 'We do a lot of mid-market deals, many with similar dynamics, documents and time pressures. Yet, each deal seems to be run like we were starting from scratch. We reinvent the wheel. We do wonderful individual work, sometimes under crisis conditions, but we don't seem to pull together as a team.' He wanted more teamwork, more project planning, and more learning from each deal. I jumped at the chance to facilitate the partners' discussions. Any firm that values matter management to this degree must be serious.
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Last month, we identified select law firm issues that can significantly impact the cost and speed of the entire case lifecycle. In addition, we offered some viable solutions to these problems. In Part Two, we cover some of the concerns related to outsourcing versus in-house handling of certain litigation goods and services and how firms are operating.
CLIENT CO-MARKETING CONT'D. - Following up on our last blog, what else will in house counsel appreciate your asking? There are many more subtle tools at your disposal which will contribute to relationship building.
CLIENT CO-MARKETING - This new topic covers how to "co-market" with your client. To be sure, marketing the law firm is not an us-them proposition. How you can recruit inside counsel and even CEO's as parties to your own marketing and business development efforts is explored.
SELECTION - This is the fourth and final criterion a law firm team needs to identify when pursuing a client. Just what concerns and experiences will be influencing final selection? If you have mastered the other 3 Red Zone components, HIDDEN DECISION MAKING, RELATIONSHIPS AND RETENTION, and PERSONAL CONSIDERATIONS, let's explore SELECTION.