Double Your Win Rate with Core Pitch Teams

Attorneys that pitch together win together.

Unfortunately, this simple fact is too often missed in law firms. Instead pitch teams are formed ad hoc depending upon the client, work load, relationship history, other work being done and a host of other, often more subtle considerations. However, the traditional way in which teams are formed in law firms for client presentations is highly ineffective. Team members often have no defined role and important aspects of the firm’s capabilities and resources are left under-represented on the team. Sometimes, team members barely have time to get to know one another before they are thrust into a client presentation in which they have to show camaraderie, team work and work style familiarity. No one is being fooled.

A better way is to designate small group pitch teams who consistently pitch and present to clients together. These are core pitch teams representing two or three essential skill sets that need to be present in every pitch group. Additional team members vary and change depending upon the client, the practices being pitched and other circumstances. But the core group should remain together over time.

Presentation teams should have specific ‘players’ or roles in each group. First, there needs to be a leader of the group whose responsibility it is to facilitate the discussion with the client. This person should not have any responsibility to present legal capabilities. Instead, they monitor the discussion, keep track of time, ensure questions are answered, interject with client intelligence, re-direct answers, conduct the housekeeping of the meeting and generally guide the presentation of the firm’s capabilities. This person is also the lead sales person who manages the conversation toward the identification and meeting of client needs.

The second role is the person schooled in the non-legal capabilities of the firm. This is the person who has a grasp on the technology, diversity stats, pro bono work, value added services, client mix, alternative fee arrangements, etc. in the firm. Typically this is the marketing person or someone who consistently works with the various RFPs or presentations and has knowledge of the various resources, offers and non-legal capabilities in the firm. These two individuals should be observing the flow and development of the conversation, taking notes and using the experience to train others and improve results. Every presentation should have a post review.

The third role is the subject matter expert. There may be several of these depending upon the number of practice areas under consideration. These attorneys come prepared with the cases, clients, clout and capabilities of their practice group, just as they would normally.

The Benefits of Core Pitch Teams

The benefits of consistent core pitch team roles are numerous but primarily revolve around the consistency in observation of the process and the knowledge gained from frequent attendance at client presentations. Core pitch teams ensure the full capabilities of the firm, both legal and non-legal, are represented and that answers to questions regarding legal capabilities are augmented by the technology, value added, alternative fee arrangements and other experience in the firm, whether it is from within or outside the presented practices.

Core pitch teams can double the success rate of presentations simply by improving over time the quality and consistency of the presentations. Without these teams, the frequency of actual pitch experience is simply too low among most attorneys for them to gain the deep learning necessary to effectively manage presentations. In other industries (advertising, marketing firms, sophisticated sales services, etc.) stable core teams are the norm. Law firms would be well advised to adopt this practice and get serious about winning RFPs.

If I can help you develop pitch team excellence, give Eric Dewey a call at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

The One, Golden Question Every Firm Should Ask its Clients

Do you know what your clients think of you? You don’t have to engage market research companies to get an answer. In fact, you simply have to ask one simple, golden question to find out almost everything you need to know.

The golden question? On a scale of one to five, how likely are you to refer the firm [or attorney] to your closest friends or peers?

Call it the 'Likely to Refer' question. You can also call it pretty darn accurate in terms of telling you what your clients think of you and your services. The beauty of this question is in its simplicity and accuracy. No other question cuts to the heart of what drives new and repeat business. And by it being a single, simple question, it takes no effort or time to check the radial button. Plus, you can put this question in numerous places to capture lots of feedback including on closing letters/e-mails, on the website, in client correspondence and many other places.

'Likely to Refer' gives clients the ability to choose from several levels of satisfaction from 'Highly Unlikely', 'Somewhat Unlikely', 'Neither Likely nor Unlikely', 'Somewhat Likely' and 'Highly Likely'. Most firms will find their scores in 3.0 to 4.0 range. That's not that great of a score but probably to be expected in the current environment. Law firms that can deliver consistent service and earn averages above 4.8 have differentiated their firms in their ability to satisfy clients.

An added benefit? By suggesting the idea of referrals, you subtly suggest your client make referrals.

Adopt the golden question on all closing matter documents, bills, on the website and in blogs and other materials. Not only will it say that you are concerned about client service, but you may find your referrals begin to increase.

If I can help you increase the number of referrals to your firm, Call Eric Dewey at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Teach Your Partners How to 'Sell' You

One of the under-utilized cross selling marketing tools can be found walking past your office door on a daily basis: Your partners.

Most training programs explain the importance of communicating your specialty to the partners and professionals in your firm. However, simply sitting in on a practice group meeting to tell your partners what type of legal work you do isn’t enough. You need to give them the tools to convincingly explain how you create value for your clients.

There’s a fundamental assumption in most cross referral efforts that inhibits effectiveness. That flaw is the assumption that other attorneys understand what you do and, more importantly, know how to sell what you do. You must first sell your capabilities to your partners before they’ll sell your capabilities to their clients. Simple additions can help others refer your services more effectively. It is as simple as explaining what your partner should tell her clients about you, which clients need your services, how she can identify opportunities to refer you and why her clients should want to meet you.

Consider the difference in these two scenarios. Which one would you rather present to your clients?

1. Attorney A is an IP lawyer who handles trademarks, copyrights, patent infringements and patent prosecutions. He has been a partner in our firm for years and is very well respected. I think he’ll have some great ideas for your company and he’d be a good resource to know. I’d like to introduce him to you.

2. Attorney B is an IP lawyer who recently won a $2.6 million verdict against B.I.G. Company for an infringement on a chemical component of their bug spray. Two other firms were unsuccessful in winning an infringement decision on that same issue. She also recently re-organized OTHER BIG Company’s international trademark monitoring portfolio saving them 35% and speeding the renewal process by six days while insuring there’s no lapse in fillings. She is a former Patent Office regulator and chairs the ABA’s IP section. I think she’ll have some great ideas for your company and she’d be a good resource to know. I’d like to introduce her to you.

The second example demonstrates to clients how the attorney can help the company, shows how others have already benefited from her expertise and sets the attorney up as a valuable resource for the client.

Here is some of the information you will need to effectively broker your partner’s services:

·        The profile of the best clients

·        The recent successful cases or matters

·        The clout and influence the attorney has

·        Their areas of specialization, and

·        The added value services they provide.

And some questions to help identify value:

·        What technologies have you used to improve service delivery or communications?

·        What value added services do you offer?

·        What processes do you have in place to shorten the time to deliver results?

Firms, practice groups and attorneys which are serious about cross selling should focus first on promoting other professionals in their firm. The ability to be a broker of services is critical to each attorney providing the best value to their clients while generating traction in cross selling in the firm. Learning to promote another attorney’s capabilities is an important part of strengthening your own referral and cross promotional network.



If I can help you teach your partners to sell your services, give Eric Dewey a call at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

A Proposed Methodology for Identifying M&A Prospects

Business Development Directors are charged with identifying the most likely prospects for practice areas. In some cases this can be a relatively easy endeavor. In others, it is difficult, if not nearly impossible. Take mergers and acquisitions, as an example. They are cloaked in secrecy for good reason. The opportunity to handle a representation of either the acquirer or acquiree tends to come through relationships among the existing client and referral base, when they come. For the largest corporate law firms with a track record for handling the most complicated of these transactions, their reputation often produces the work. But for most mid-tier and smaller law firms and M&A practices, one has to work hard to land a new client or transaction.

Dialing in on likely prospects.

To land M&A work, it's best to be in a position in which you know beforehand about the deal. But this requires trusted relationships in either the acquiree or acquiror companies. However, what if you could predict which companies were likely to be acquired or were positioned for acquisitions? Like a quarterback anticipating yards ahead of his sprinting receiver there is a simple analysis that you can perform to narrow the field and anticipate the likely participants in M&A deals. The following research method which I developed can be helpful in narrowing the universe of prospective companies that may either be ripe candidates for an acquisition or companies which may be in an acquisitive position.

Here's how:

To begin, pull a list of companies within a specific industry in which the Firm does a significant amount of work. Preferably, your firm does M&A work for multiple companies within this vertical. The more narrowly defined the industry and the more work performed in this industry sector, the better. You can pull a list using Dun and Bradstreet / Hoovers to identify companies in the segment, among other sources. Constrain your company search on D&B/Hoovers by size until you get a manageable sampling of companies, 15-25 companies is a good number.


Next, pull each company’s 'book value' (an indicator of the company’s size) and its 'market-to-book ratio' (an indicator of its performance). For this analysis, I’d suggest pulling these numbers using the three year average in order to smooth out circumstances which might otherwise distort the numbers too much, such as an acquisition, sale of a division or other significant event.

Plot each company on a chart putting performance (market-to-book ratio) as the vertical axis metric and size (book value) as the horizontal axis metric. Divide the chart into four quadrants at the median for each metric. Adjust the high and low measures for each metric so that the range encompasses the universe of companies within the four quadrants of the chart.

In reviewing the position of each company, you will see companies dispersed throughout the chart. Some companies will be larger and with strong performance. These will be situated in the upper right hand quadrant of the chart. Small companies with slow growth will sit in the lower left hand quadrant of the chart. Small companies with strong performance metrics will be found in the upper left hand quadrant and big companies with slow growth will be found in the lower right hand quadrant. The likely acquirers will be the larger companies who need to goose their performance through the acquisition of smaller companies whose growth is being driven by a new technology or product.

A quick review of your client mix can tell you whether you do work for any of these companies. Hopefully, you do not have too many that are in the lower left hand quadrant of the chart. But clearly, several will show up somewhere on the chart if you selected a segment in which the firm does a sizable portion of work. Regardless, reviewing each company for its proximity to the firm, other financial metrics, existing contacts and relationships and recent media reports will enable you to narrow the list to the ones in which there is a chance that they will be acquired or an acquirer in the foreseeable future.

It’s then simply a matter of developing a sales plan and working that plan consistently to build the relationships necessary to represent the company.

If I can help you target M&A prospects more effectively, call Eric Dewey at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Before you go Social, Ask These Questions

Social media gets a lot of buzz these days. Most conversations presume a strong rationale for engaging in social media channels. The conversations seem to jump past whether it makes sense and instead argues for engaging in social media as though it has already been universally established prudent for every lawyer, in every practice regardless of other marketing tools and options available to them.

Not so fast.

Social media is nothing more than any other channel for your marketing efforts. You wouldn’t presume the merits of a direct mail campaign, a VIP Cocktail party or a full page advertisement, would you? You should apply the same types of analysis to social media that would apply to any marketing opportunity. You should always know what you are doing, why you are doing it, and whether it is the best and highest use of your marketing funds and time to do it.

First, what do we mean by social media? I include in social media some of the most frequented sites on the Internet including Facebook, Twitter, Yelp, Google +, Foursquare, blogs and other sites. ‘Social media’ also includes sites such as JD Supra, Legal OnRamp, MH Connect and several other directories and legal industry sites which provide a means to build relationships, exchange information and showcase experience.

What can social media sites do for you and how can they fit in to your marketing program? There are five general marketing strategies that can be accomplished, at least in part, via social media.

Through social media, you can:

1. Distribute content. Content is King and helps build reputations

2. Connect with others to maintain top of mind awareness, build relationships and produce referrals

3. Gather intelligence for cases, competitive positioning or other uses

4. Improve search rankings to enhance your visibility to prospective clients

5. Provide value added services for existing clients and demonstrate client service to prospective clients

For many lawyers and law firms, social media makes a lot of sense. For many more, it is little more than a distraction. How do you determine in which group you and your practice falls? And, how much time and money should you spend mastering the social media techniques in pursuit of greater marketing efficiency?

The following set of questions will guide you through the process of determining the relative value of a social media marketing program to your practice.

1. What do you want to accomplish? What are your specific business goals and how will you know when you have achieved them. In addition to new clients, what other objectives do you have to better position your practice, improve client satisfaction or reinforce the decision your clients have made to use your services?

2. What does my ideal client look like? Can I describe the profile of my best clients? How detailed can I be? Do I understand the size or length of time in business? Do I understand the issues they face? The budget they have for my services. Are my clients individuals or businesses? Are they local or do I draw clients from across the country? Do I get most new work through referrals or directly from new clients? The more detailed your understanding of your clients, the better able you will be to determine which marketing channels are the most effective in reaching your ideal clients.

3. To what extent are my ideal clients using social media?
Are clients who need the services of my practice, using social media sites to evaluate lawyers? To what extent are these sites weighted in these evaluations? How else are they using social media sites?

4. What alternative channels besides social media are available to you?
If you are trying to raise your name recognition, do you have other mediums through which to do this? To what extent do these channels have more or less credibility in the minds of your target clients?

5. How well do you understand the Internet?

What is the level of your knowledge in social media, internet marketing and search engine optimization and what is the cost to obtain this knowledge and put it into practice? Would the knowledge be easy to maintain or will you constantly need to refresh your knowledge due to rapid changes in technology or emerging trends? Can you buy this knowledge from someone else and do they have the kowledge of your business to direct you effectively?

6. Considering all means available to accomplishing your objectives, is social media one of the most efficient and effective means to accomplish these objectives?

What do you estimate the cost is (in both time and money) as a percentage of new clients landed? Is this a better return on your investment than are the other options in your marketing arsenal?

While these questions may not assure success in social media marketing for you, they will, if answered with brutal honesty, help you determine whether social media marketing is worth your investment of time and money. There’s no doubt that social media, like traditional advertising serves an important and growing role in legal marketing. What’s more, social media is a dialogue that engages people in the issues they are most interested in. It can’t hurt to be a part of the discussion. However, before engaging in a social media strategy, this writer argues that you must have clear objectives, understand how it fits into your marketing mix, know the costs and investments required and know how you to determine whether you are gaining or losing ground through its use. Just like you should any other marketing initiative you undertake.

If I can help you determine your social media needs, please call Eric Dewey at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Can I Get a Courtesy Read?

There is a lot of talk about blogs in the legal world. I'd estimate that blogs and Linked In are the two most talked about Internet marketing channels. I bet if you took some time to look around that you'd find a half dozen blog authors that you know personally, either within your firm, among your referral sources or maybe even among your clients. 

Now, how many of you have signed up to receive automatic e-mails or RSS feeds of their blog posts?

Raise your hand if you have.

Someone? Anyone?

...Mom??!

I suspected that.

Blogs are tough. They are a mammoth commitment. You have to produce interesting, relevant and informative content on a fairly narrow topic area consistently over time in order to reap the benefits of blogging. It's not easy.

So, knowing this is an intensely challenging commitment that your [friend, peer, partner, client] has taken on, why haven't you signed up to see what they are writing about?

Signing up to read the regular posts of bloggers you know is a simple and easy way to express interest in that person. In some cases, for instance when it is your client, you will likely read about  issues that are particularly important to them. (hmmmm. That could come in handy!)

The vast majority of professionals approach the marketplace looking for what others can do for them. But someone truly interested in doing for others appreciates the challenges people take on in their jobs and personal lives. Signing up to get their posts is a small but visible way of saying 'I care about you'.

Bloggers periodically look to see who has signed up to get their posts. And, when they do, you will be glad that your name is on the list. I'd go one better by encouraging you to comment occasionally on their posts. Comments go a long way to showing your interest in them and the issues or opinions they have.

So take a moment to figure out which of your partners, peers, friends and clients have blogs and sign up to get their posts sent to you. It'll show you are interested and, more importantly, that you care.

If I can help you get more people to care about you, call Eric Dewey at 502-693-4731. You'll find that I am an eager resource and that it costs nothing to talk.

Conducting RFP Post Mortems

In responding to RFPs and RFIs, it is important to keep in mind your backup plan should you not be awarded the engagement. Keeping good records of how the RFP response is handled, the questions asked and the process the client required will be important as you perform the post analysis on your response process, also called a 'post mortem'.

In conducting post RFP reviews with clients, it is important to understand what you are trying to accomplish. The objectives can vary from trying to find additional ways to win work from the client to identifying ways to improve the future win rate. I suggest focusing only on the latter. Having clarity as to what you are trying to find out will guide the particular questions you ask. Regardless, there should be a core set of questions which you ask during every post mortem interview process in order to benchmark performance and build a better response process.

The second consideration is who will conduct the interview. I suggest using third party professionals who can provide an unbiased assessment, bring to bear comparative information and draw out unvarnished feedback. If, however, the accountant, attorneys or marketing department conduct the post mortem interviews, it is important that the interview is conducted as objectively as possible. Avoid defending the firm or trying to explain the firm's responses. It’s much better to learn the perceptions that clients have of the firm than to try to correct misperceptions of the firm’s response- unless they are glaringly blatant and correcting them could change the outcome of the decision.

Questions:

1. Who won the work and why did they win it?

2. What qualities or strengths stood out about the winning firm?

3. What characteristics or weaknesses did you not like about the firm?

4. Who had influence over the final selection decision?

5. What non-technical services factored into your decision? (non-accounting or non-legal)

6. How did you select the firms which received the RFP?

7. On which key factors did the decision hinge and how would you prioritize the importance of each of these key factors?

8. What was the overall impression of our firm?

9. What was your overall impression of our people at the presentation?

10. What did you find were the strengths of our firm?

11. What did you find were the weaknesses of our firm?

12. What was your impression of the working relationship exhibited by our team in the presentation?

13. Were we accessible for your questions and how well were your questions answered?

14. How did our pricing/fees line up with others?

15. What other advice would you give us to help us improve our responses?

16. Is there anything we should ask that we didn’t ask?

17. How would you rate the quality of our written materials?

18. How would rate the quality of our technology offering?

19. To what extend did Diversity, pro bono, community investment and other programs weigh on your decision?

20. Would you consider us for other service needs you have?

Performing Post Mortems on legal services bidding processes is one of the most effective ways to improve the win rate on RFPs. It also goes a long way toward building a relationship with in house counsel and becoming the strong runner up in the contest, a good position from which to receive future engagements.

If I can help you improve your RFP responses, give Eric Dewey a call at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Understand the Implications of Your Solutions

I had the distinct pleasure of presenting at the New York Bar Association's Fall Intellectual Property Conference in Philadelphia. I was joined by Anil George, Senior Counsel for IP at NBA Properties. Our presentation was on the business of law and the current trends in the relationship between corporate counsel and outside counsel (hat tip to BTI Consulting Group for making available their latest Premium Practice Forecast survey- worth getting a copy).

[Note: This post originally appeared on the Lawyer Up! blog in the fall of 2011.]

This presentation led to some interesting comments from Anil describing a situation in which an attorney gracefully recovered from a sticky situation. The situation? The Chief Legal Officer thought the bill was too high. The law firm lowered the bill and explained that they were doing it to preserve the relationship with the client. Anil's point was that the law firm took a short term loss in order to invest in the long term relationship- something not lost on him, in fact, a cementing gesture in the relationship.

While the lesson was important, the discussion that followed was even more revealing. One law firm attendee asked whether the bill was sent in one lump sum or whether it had been broken into pieces and whether it would have made a difference were the bill to be sent broken into monthly increments. 'No', Anil said. It wouldn't have mattered. What he didn't say, but surely was thinking, was that his Chief Legal Officer was capable of simple math. The lawyer in the audience was thinking that the substantial amount of the bill may have raised eye brows and thereby the solution was to send bills that were more likely to 'sneak under the radar' (my term, not hers). Clearly the large bill caused notice. But breaking it up doesn't reduce the total amount.

Still, the law firm handled the request well and salvaged an otherwise difficult conversation. But, let's agree, this was a law firm's attempt to recover. It still chalks up in the 'save' column. The question is, 'could this have been avoided altogether?' The answer is yes. Anil, a typical in-house attorney, shook his head in agreement as I suggested that the issue was not that the fees were too high, the problem was that the CLO did not see the value the company received from the law firm's handling of the matter.

Lawyers identify the problems that company's face and present solutions to address those issues. But rarely do they have the intimate knowledge of the implications of those problems to the business. Indeed, corporate counsel have a finer filter they apply to solutions. As Anil put it, 'lawyers who develop a solution in the unique context of my business set themselves apart'. Anil is alluding to the knowledge of the implications which could result from the solution or, conversely, the implications which might result should the right solution not be found. Understanding the implications of the solutions is the essential ingredient to mapping the value of the best solution. Lawyers that have learned enough about their client's businesses to understand the implications will be able to monetize their solutions. They can show, in business terms, how the solution creates or protects value for the company.

Had Anil been able to take a large bill to his CLO and been able to show how they projected a 7:1 return to the company's investment in this firm handling this matter, for instance, the entire conversation would have been transformed. And, the CLO would have had the ammunition he needed to face the CFO or CEO and defend the large bill. Without that, the CLO knows exactly what's on the minds of the CFO and CEO and was simply arming himself for that conversation by extracting a discount from the firm.

The frustration that many corporate counsel express about their outside counsel is that they present the scope of possible solutions but fail to make a decisive recommendation. Instead, they leave that to corporate counsel to figure out. To make a decisive recommendation, you must be able to reasonably project outcomes, monetize the results and calculate the best investments among the various options. Law firms deeply experienced in the issues and variables in specific types of matters or cases, should be able to project reasonable outcomes. That's the dividend of experience. And if you have a wealth of experience in an area, use it.

Lawyers who outline the various options demonstrate their understanding of the company's problem. Lawyers who commit to definitive recommendations demonstrate they have an understanding of the implications of the problem and have calculated the best investment of the company's resources. And that sets a lawyer apart as a true business partner.

As always, if I can help you develop more effective solutions for your clients, give Eric Dewey a call at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

The Simplest Explanation of Law Firm Marketing

The average equity partner in the average law firm makes an annual contribution of between $20,000 and $30,000 each to market the firm. Think of this as the reinvestment each partner makes out of the equity pool each year. A significant chunk of change, to be sure. Viewed this way, marketing managers may have a better appreciation for why they feel constantly under the microscope. They are!

Unfortunately, the aperture of that 'microscope' is too often focused on what the marketing department should be doing for that individual partner. And, the focus can change depending upon what that partner needs at the moment. Widening the aperture helps the partner understand the various demands on the marketing department, the sales cycle law firm marketing departments are attempting to influence and how all the tools of marketing work together in an integrated fashion.

To facilitate this conversation, I developed the following graphic to illustrate how all the pieces fit together. The Marketing-Sales-Service chart shows the relative costs in both attorney time (Attorney Involvement) and firm financial resources ($) to affect each stage of the legal services buying cycle (Awareness through Loyalty) and the box of tools available to influence each phase (Marketing, Sales and Service). Obviously, this graphic is overly simplified. But it has proven useful in helping everyone in the firm better understand the roles and contributions of the marketing department. And, in understanding this, being better able to support the marketing group in their support of the attorneys.

As always, if I can help you get more from your marketing department, please give Eric Dewey a call at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Five Obstacles to Business Development Success, Part 5

Every year law firms spend millions of dollars in marketing, client development, training and technologies to attract more clients. Law firm leaders understand that business development is the life blood of the firm. Or do they? An argument can be made that a law firm that puts business development as one of the top drivers of the firm’s growth would do a better job of addressing the most common challenges that are obstacles to the success of most attorneys. Many law firms survive on the client development effectiveness of a small group of the firm’s partners making law firms generally extraordinarily fragile. But eliminating these barriers could produce significant returns and spark faster growth in the firm.

What are these obstacles? This is the fifth in a five part series outlining the obstacles to business development in most firms.

Obstacle Five – Lack of daily sales management and coaching.

Many firms have moved to toward a practice group management model and client service teams in order to facilitate the cross selling and client development processes in the firm. However, too often firms fail to implement strong sales management and coaching processes. Stark evidence of this can be found in the separation of the compensation decisions from the practice group, client service team and other sales management processes. Those responsible for developing the skills are often left out of the rewards and incentives decisions.

Law firm “Sales Managers” are not spending enough time effectively coaching and developing their “salespeople”. The job of a sales manager is to coach their people just like in professional sports. Law firms saddle the coach with the responsibilities of also playing on the field. The value and leverage that can be achieved by sales managers is simply not appreciated or valued in law firms today. As a result, the organic growth of most firms today is anemic at best and contracting at worst.

If I can help you alleviate the obstacles to business development in your firm, call Eric Dewey at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Five Obstacles to Business Development Success, Part 4

Every year law firms spend millions of dollars in marketing, client development, training and technologies to attract more clients. Law firm leaders understand that business development is the life blood of the firm. Or do they? An argument can be made that a law firm that puts business development as one of the top drivers of the firm’s growth would do a better job of addressing the most common challenges that are obstacles to the success of most attorneys. Many law firms survive on the client development effectiveness of a small group of the firm’s partners making law firms generally extraordinarily fragile. But eliminating these barriers could produce significant returns and spark faster growth in the firm.

What are these obstacles? This is the fourth in a five part series outlining the obstacles to business development in most firms.

Obstacle Four –Allowing "Self-Limiting Beliefs" to sabotage your efforts

Attitude is everything. Bad attitudes damage the individuals but self-limiting beliefs damage the firm. Everyone knows which attorneys in the firm have the bad attitudes. These attorneys are like pot holes in the road that most try to avoid. Self-limiting beliefs, on the other hand, are personal and much harder to detect and address. As such they can do more to inhibit the success of the firm and its attorneys than just about anything else.

Self-limiting beliefs manifest themselves in subtle ways, often bleeding into the folklore or culture of the firm. For instance, associates often complain that their mentors already know everyone worthwhile in town so there’s no way to build their own book of business. Or, attorneys equate ‘sales’ with used car sales people and, as such, close off all possibility of learning new ways to attract clients. Or senior partners warn of the unattractiveness of ‘self-promotion’ but fail to clarify what is self-promotional and what is important communication regarding the successes and achievements of the firm’s attorneys.

Each of these are ways that attorneys create obstacles and barriers prior to a fair assessment of the many strategies, tactics and skills necessary to develop a successful practice. I call this ‘contempt prior to investigation’ and it is incredibly limiting and destructive to a firm’s ability to develop substantive client development skills and processes.

If I can help you alleviate the obstacles to business development in your firm, call Eric Dewey at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Five Obstacles to Business Development Success, Part 3

Every year law firms spend millions of dollars in marketing, client development, training and technologies to attract more clients. Law firm leaders understand that business development is the life blood of the firm. Or do they? An argument can be made that a law firm that puts business development as one of the top drivers of the firm’s growth would do a better job of addressing the most common challenges that are obstacles to the success of most attorneys. Many law firms survive on the client development effectiveness of a small group of the firm’s partners making law firms generally extraordinarily fragile. But eliminating these barriers could produce significant returns and spark faster growth in the firm.

What are these obstacles? This is the third in a five part series outlining the obstacles to business development in most firms.

Obstacle Three –Failure to adhere to a consistent and productive sales routine

Most law firms today lack the performance standards to guide the growth of the firm. There is a wide variety of client development and marketing activities, each with varying degrees of effectiveness. But firms tend to equate all activity as mutually beneficial. As such, attorneys are allowed to focus on low payoff activities such as calling on the wrong people, not preparing for the sales call, participating in value starved community activities or consistently calling on the same low revenue clients. In other words, attorneys are allowed to confuse activity with productivity.

Law firms and attorneys rarely follow a consistent sales routine which pre-qualifies prospects, plans the client development strategy, researches the competitive and organizational conditions of the prospect, and implements business partnership building processes. They tend to react to opportunities as they arise whether or not they present a meaningful opportunity. What’s more, they cocoon in their comfort zones of conference attendance, cocktail parties and concerts and rarely work to optimize their sales processes to generate bankable results. And firms, starved for anyone willing to do any kind of client development, chalk ineffective activity up as comparative progress under the guise of ‘relationship building’. But in fact, these activities are friendship building activities, not business partnership building activities.

If I can help you alleviate the obstacles to business development in your firm, call Eric Dewey at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Five Barriers To Business Development Success, Part 2

Every year law firms spend millions of dollars in marketing, client development, training and technologies to attract more clients. Law firm leaders understand that business development is the life blood of the firm. Or do they? An argument can be made that a law firm that puts business development as one of the top drivers of the firm’s growth would do a better job of addressing the most common challenges that are obstacles to the success of most attorneys. Many law firms survive on the client development effectiveness of a small group of the firm’s partners making law firms generally extraordinarily fragile. But eliminating these barriers could produce significant returns and spark faster growth in the firm.

What are these obstacles? This is the second in a five part series outlining the obstacles to business development in most firms.

Obstacle Two –Lack of knowledge of sophisticated complex sales techniques

Legal sales are complex sales processes. They are fluid, dynamic processes that require a consistent, strategic partnership approach. This approach must address the multiple buying criteria clients use in the selection process while evolving the offering to fit the dynamic needs of the client. Unfortunately, many ‘legal sales consultants’ have heavily borrowed their tactics and processes from traditional product sales. Product sales are based on static product features and benefits and often use manipulative sales techniques to influence clients.

Sophisticated complex sales processes require a much different tact. Success relies heavily on needs discovery, solutions development and relationship building to affect the sale. Services are created through the sales process as opposed to sold as a static offering, like they are in a product sale offering.

While most attorneys have strong relationship building skills, use of many of the traditional product sales techniques actually dampen the pace of relationship building.You may play well together, but the minute the attorney forces a square peg in a client’s round hole the relationship begins to erode and credibility is damaged. Complex sales require consistent and regular sales training and coaching. As one sales expert is quoted as saying, “You cannot put a man in a cave, leave him there for twenty years and have him walk out with a geology degree!” Consistent and on-going training in complex sales techniques is critical to leveraging the relationships inherent in the firm.

If I can help you alleviate the obstacles to business development in your firm, call Eric Dewey at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Five Barriers to Business Development Success

Every year law firms spend millions of dollars in marketing, client development, training and technologies to attract more clients. Law firm leaders understand that business development is the life blood of the firm. Or do they? An argument can be made that a law firm that puts business development as one of the top drivers of the firm’s growth would do a better job of addressing the most common challenges that are obstacles to the success of most attorneys. Many law firms survive on the client development effectiveness of a small group of the firm’s partners making law firms generally extraordinarily fragile. But eliminating these barriers could produce significant returns and spark faster growth in the firm.

What are these obstacles? This is the first in a five part series outlining the obstacles to business development in most firms.

Obstacle One – A wing-it mentality towards client development

Most law firms have a poorly defined sales process. Even where attorneys have been instructed in effective sales techniques, they typically fail to follow the process consistently. A sales process is analogous to a professional football team playbook. Without a consistent offense, a consistent defense and a consistent agreed to set of plays, what you have are great players who can't get the ball in to the end zone because they just don't know what their next move is. They become purely reactive to the opposing team, in this case the prospect!

Many firms have enjoyed extraordinary growth for the past several decades. This growth has primarily come from increases in work volume which is quickly receding. The next decade will surely be a decade of market share competition and growth will have to come at the expense of other law firms. Firms which take a more proactive approach to business development will undoubtedly win out over the long run.

If I can help you alleviate the obstacles to business development in your firm, call Eric Dewey at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

360 Degree Client Satisfaction

It's surprising the lack of sophistication one finds in evaluating client satisfaction among law firms. Where client service IS evaluated- and this is by no means a given- the survey or questions tend to focus on the technical quality of the services provided. While that's certainly important, it really is just the 'tables stakes' to get in the game. 'How' the services were provided is equally, if not more, important. Let's call this the 'emotional satisfaction' that clients have in working with their outside counsel. In the case of doctors, this distinction is similar to the distinction between the medical outcome the Doctor provides and the Doctor's bedside manner. Managing the technical and emotional services levels of the firm is managing 360 degrees of your client's satisfaction with the firm.

Just to clarify, I'm defining the 'technical quality of the services' here as the quality of the work product; the attorneys understanding of the issues; his creative legal strategy; the attorneys knowledge of the client; his business and industry; the timeliness and quality of their communications and bills; etc. Obviously, all of this is critically important in the client relationship.

I define 'how services are delivered' as the emotional satisfaction clients have with the firm. Firms focused on improving 'emotional satisfaction' with the firm focus their training on: how the secretary is treated; how quickly phones calls are returned; how associates are treated in front of a client; how pleasant and engaging the attorney is; how quickly problems are resolved or complaints addressed; how easy the attorney and firm make it to do business with them; etc. This is an all-incompassing view of the client's experience with the firm. And, most importantly, that view has to be from the persective of the client.

While emotional satisfaction is much harder to track and evaluate, it is often more important in maintaining and deepening the client relationship. There are lots of good quality, technically proficient firms and lawyers to choose from. But surprisingly few firms that distinguish themselves by delivering extraordinary and consistent service levels across their population of attorneys in the firm.

One of the primary reasons why cross selling is difficult to make happen in law firms is that many lawyers simply don't trust their partners to deliver 'how they provide the services' at the same level at which they themselves deliver services to their clients. What's more, it's nearly impossible for them to control for others' levels of service toward their clietns within the firm. The technical quality of the services is rarely the issue. Lawyers can more easily assess the technical proficiency of their partners. It is far more difficult to determine how services are delivered and who is courteous, accessible and responsive.

To be honest, even the technical quality of services isn't an overly common topic of law firms. Lawyer up! conducted a study of the top 50 largest law firms in 2011 (based on attorney count) to see which of them state their commitment to client satisfaction on their main site pages. The study also documented which of these firms backed up their pledge with objective evidence, either by describing their procedures or citing awards and testimonials or other means. Among the top 50, less than 10% had any meaningful content describing their commitment to client satisfaction. And few, if any, addressed the softer yet more potent side of client satisfaction. I doubt the results have changed much two years later.

Pay attention to the emotional satisfaction your clients have with the firm. It is the secret sauce that can bind your clients to the firm.

If you would to improve your client’s satisfaction level with your firm, Call Eric Dewey at 502-693-4731. You’ll find that I am an eager resource and that it costs nothing to talk.

Getting to 'Yes', Part 3

Getting to 'yes' in a proposal requires more than clarifying the client’s situation and objectives, offering solutions and providing evidence of the value of your recommendations. While this basic structure for a presentation can be successful, often it is not enough to get the client to say 'yes'. Getting to 'yes' is a conversational art which uses the principles of leverage to facilitate a path toward a positive outcome for the pitch.

This is the third in a three part series.

3. Never Bundle, Always Unbundle

An opportunity to present capabilities to a client is not a request to learn about every practice in the firm. Nonetheless, many attorneys sneak additional practice areas into the materials or presentation ‘just in case they have needs’. But pitching to win a bundled set of services complicates the decision process unnecessarily. A focused proposal offering a viable solution to a specific problem is much more powerful than a broad statement of capabilities, no matter how strong those capabilities are. For one, multiple practice presentations require the buyer to make multiple decisions. In this case, it is much easier to decline all than agree to only one. Conversely, a strong pitch focusing on one practice area makes the decision simpler and lowers the risk to the client should only one practice area not work out.

As always, if I can help you get to 'yes', don't hesitate to call Eric at 502-693-4731. You'll find that I am an eager resource and that it costs nothing to talk.

Getting to 'Yes', Part 2

Getting to 'yes' in a proposal requires more than clarifying the client’s situation and objectives, offering solutions and providing evidence of the value of your recommendations. While this basic structure for a presentation can be successful, often it is not enough to get the client to say 'yes'. Getting to 'yes' is a conversational art which uses the principles of leverage to facilitate a path toward a positive outcome for the pitch.

This is the second in a two part series.

2. Offer a Series of ‘Yeses’.

Clients who get in the habit of saying yes find it easier to say yes. So, leverage in making it easier for clients to say yes can lay a great foundation for the big yes you are looking for the client to make. When offering next steps, always give the client a series of options in which to say yes. For instance, when setting up a follow up meeting which you want to include the primary decision maker, offer to set up the meeting yourself directly with the decision maker, send your contact a note which they can forward to the decision maker or offer to conference the decision maker in on the call. More than likely, your contact will take the option of you writing the note to invite the decision maker to a follow up meeting. Had you not made a series of yeses offer your contact would likely have simply stated that he would get with boss and get back to you- a position that leaves you helpless to influence the situation.

As always, if I can help you get to 'yes', please call Eric at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk.

Getting to "Yes", Part 1

Getting to 'yes' in a proposal requires more than clarifying the client’s situation and objectives, offering solutions and providing evidence of the value of your recommendations. While this basic structure for a presentation can be successful, often it is not enough to get the client to say 'yes'. Getting to 'yes' is a conversational art which uses the principles of leverage to facilitate a path toward a positive outcome for the pitch.

Before we begin, let’s quickly qualify what is meant by ‘leverage’.Leverage in this instance means the principle of gaining power and effectiveness in negotiations. Gaining leverage is simply a matter of leading the dialogue and lowering the barriers for the client to be able to say yes.

Here are several examples of ways to lower the barriers to 'yes'. This is the first in a three part series.

1. ‘Good, Better, Best’ Options:

There’s a concept in marketing called ‘Good, Better, Best’that is proven quite effective in a number of different marketing uses. Offering three viable options enables the buyer to engage the firm at different levels of commitment, depending upon their tolerance for risk and their comfort level with the attorney. Structured well, the technique can steer the client to the best value and comfortably suspend what the client feels are the riskier decisions until the client has more experience and comfort with the attorney. Very often, in well-structured proposals, clients will opt for the ‘better’ scope of services, leaving the ‘best’ scope of services as an option for later on.

Clients rarely abruptly stop using the services of an attorney. Instead, they more frequently ease out of the relationship slowly. The same is true of how clients prefer to get into a relationship. Pitching too much too quickly demands too much trust too early in the relationship. It is better to offer a way to become familiar with the attorney’s work and grow the relationship from there into more practice areas as trust and comfort builds.

Each of these three principles of leverage, as well as numerous others, can help facilitate a positive decision by lowering the risk associated with the decision and making it easier for the client to say yes. Try these in your next pitch and let me know how it works for you.

As always, if I can help you get to 'yes', call Eric at 502.693.4731. You'll find that I am an eager resource and that it costs nothing to talk. 

As

Are We There Yet?

One of my clients asked me how long it should take to build a book of business from scratch. The consultant's answer is 'it depends'. The realists answer is 'longer than you want it to'. The pragmatists' answer is 'anywhere from 18 to 36 months if you are disciplined, consistent and strategic. Longer if its not a priority for you every day.

But her question is a good one and deserves some understanding. In my experience, law firm leaders expect an attorney's book of business to grow quickly. Often, this expectation is held without strong marketing and client development training and support systems in place. It's not unusual to see a year go by and mounting frustration on both the leadership's part and the attorney's part that more business has not been brought in.

But is this a fair expectation?

Let's look at some common metrics and try to answer this question. In most industries, it is understood that there is roughly a 10:1 ratio of attempts to success. In my experience, it's no different in law firms. That is, for every ten 'cold' calls or pitches you make to a prospective client, one will emerge into a serious discussion about retaining your services. And of the ones that do get some degree of traction (IE. a proposal is requested, a meeting agreed to, etc.) only about 30% of these will actually close.

So, if you do the math, the business development activity level required to build a book of business from scratch is monumental. In my experience, attorneys with all the tools in place (and this is rarely the case) will begin to see results from a consistent business development program in between 18 and 36 months. 

In my opinion, law firm leaders should align their expectations with the reality of the sophisticated complex sales paradigm of professional service sales. And, then support their attorneys with the guidance and tools in order for them to be successful.

Retain Clients by Being Business Friendly

Retaining clients is a function of doing good quality work at a competitive price plus one more thing: being easy to work with.

What can you do to be easier to do business with? Start by looking at your business through your client's eyes. Call your receptionist so you can hear how the receptionist answers the phone. Sit in the lobby of your office. Experience what you clients experience.

Review your marketing materials, client correspondence and engagement letters. Are they easy to read? Is legal jargon kept to a minimum? Is the style of writing appropriate to the audience? Are accounts receivable policies friendly and easy with which to comply? Do you give your clients choices in how to pay your bill? Do you check in frequently with clients to make sure they are satisfied? Do you answer your phone promptly? Are clients given your cell phone number so that they can ask you questions at any time of day?

Many law firms and attorneys structure their policies and operations for their own convenience. But the attorneys who retain long term client relationships do so in part because they have configured their service delivery for the convenience of their clients.

What can you do to make it easier for your clients to do business with you?

If you'd like to become easier to work with, call Eric at 502-693-4731. You'll find that I am an eager resource and that it costs nothing to talk.

Vanity Ads and Client Focus

I am not a fan of vanity ads for lawyers who serve Fortune 1000 clients. They perpetuate the image of egotistical, narcissistic and self important attorneys, the vast majority of whom are not. Who wants to engage a professional who spends good money to brag about themselves? Not me. And not most people.

What's more, few of the decision makers in major corporations actually thinks that being listed as a Best Lawyer really means that you are the best. Most of them are savvy enough to look for the ad placement that nudged you into the 'best' category. And, more than likely, the ad will contain a lot of self promotional content with words like "I", "we" and "Our Firm". These words howl at a fixation on 'me', not the client.

But I understand the need to publicize attorney achievements. I don't understand the need to do it in such a self serving and self important way. These ads are lazy marketing and don't position the lawyer in any meaningful way. There is a better way to announce these achievements.

Instead of writing an ad which says, "Congratulations to our 15 lawyers who were just named 2013 Super Lawyers", write the ad to say "Our 15 new Super Lawyers would like to thank their clients for giving them the opportunity to do great, interesting work. Without our wonderful clients, and the complicated work they give us, we would never have been able to achieve this honor." It gets the message across while putting the emphasis where the emphasis is due- on the clients.

It's not about you. It's always about your clients.

Random Acts of Unselfish Kindness

Want to make an impression? Get in the habit of performing random acts of kindness.

I have a close friend that taught me the power of this simple way of being. He is the president of the largest distributor of charitable gaming supplies in the world. He is quite accomplished for his young age and yet one of the most down to earth and approachable people you'll ever meet. I've always been slightly amazed at the heights of his accomplishments so quickly in life so I began to observe him every chance I got. And what I found was consistent with what I have found in observing the top rainmakers in law firms.

John, and great rainmakers like him, perform random acts of kindness. And they do this without the slightest hint of an expectation of reciprocity. This latter aspect seems to be the true key. John Smith (yes, that's his actual name) is the type of person who listens for ways he can help other people- and then acts on it. He doesn't seek permission or ask if he can do something (this only opens the door for the polite 'oh there's no need but thank you' conversation- a spoiler of generous intentions). To him, it doesn't matter who he helps, how he helps them or that they think to pay him back. He truly loves to help others. He seems to pride himself on the fact that his broad network of friends and business associates can be drawn on for just about any solution to a person's problem. And he takes it upon himself to initiate this help without being asked or it being suggested.

I once heard him offer to write a letter of recommendation and make a phone call for one of our friends who mentioned that his daughter was trying to get a position with a large local company. Another friend was looking for a hunting dog and he hooked him up with a breeder. He set up an internship for a guy's son for the guy who he had just met. He surprised me with a case of my favorite locally unavailable beer which he had trucked across the country on one of his cross country delivery trucks. The examples of his random acts of kindness and unselfish generosity are varied and far reaching.

We now lives thousands of miles apart and haven't seen each other in a couple of years. But, I have not forgotten his generosity and unselfishness. I will do anything for this great guy. And not because he is a master connector and rainmaker, or because I feel obligated to return his generosity, which I do, but because he taught me the secret to rainmaking success.

If I can help you uncover the secret to your rainmaking success, please don't hesitate to call Eric at 502-693-4731. You'll find that I am an eager resources and that it costs nothing to talk.

Tune Up Sign 10: Excessive Sponsorships

You receive frequent requests for sponsorships or advertising opportunities which are primarily granted based upon who has requested the sponsorship (attorney or client).

What does this indicate?

If true, this indicates a firm which has not defined the types of advertising and sponsorship opportunities which are consistent with its growth objectives. It also indicates that the firm does not have a formal process for assessing the sponsorship or advertising opportunity and, as a result, relies primarily on the advice of its attorneys, clients and community leaders to guide its decision process, none of whom typically have the firm’s best interests foremost in mind.

It’s important for a firm to have a sponsorship and community outreach plan in place. A well-defined plan can assist you in determining which events and activities are consistent with firm objectives, reach the proper audiences and integrate well into other firm initiatives.

As always, if I can help you fix the ‘kinks’ in your business development, give Eric a call at 502-693-4731. You’ll find that I am an eager resource and that it costs nothing to talk.

Tune Up Sign 9: Alarms are Ignored

Client alerts and advisories are not being read by your clients. You rarely get calls from clients inquiring about the subject of a client alert or advisory.

What does this indicate?

If true, these indicators point to two potential needs: One, there is a need to create more substantive content written in a more readable (less legal) style of writing. Or two, and more likely, it indicates that the firm needs to do a better job identifying emerging legal trends and issues earlier and producing the analysis more quickly. Quite possibly, other firms are sending this information to your clients faster than you, making your advisory redundant.

Building a powerful thought leadership program has the potential to draw inquiries from prospective clients and produce significant new work for the firm. It can also reduce marketing costs and lead to other opportunities which the firm might not otherwise have access to. But many firms lack an understanding of how to make their materials standout, identify emerging trends sooner and complete analysis that resonates with prospective clients.

This is the ninth in a ten part series explaining signs that indicate that your firm or personal marketing program could use a tune up.

Tomorrow: What do excessive sponsorships indicate?

As always, if I can help you fix the ‘kinks’ in your business development, give Eric a call at 502-693-4731. You’ll find that I am an eager resource and that it costs nothing to talk.

Tune Up Sign 8: Exit Panic

If an attorney suddenly left the firm, there would be a scramble to try to protect the client relationships she was working on.

What does this indicate?

If true, this indicates a lack of transparency in the working relationships between attorneys and clients. It may also indicate that the firm has no effective contact management system in place and does not require the recording of client information in an institutional client relationship management system.

The lack of information about attorney-client relationships and personal details about key client contacts perpetuates the firm’s inherent fragility. Firms without a transparent team approach to client relationships run a greater risk of client abductions to exiting disgruntled attorneys.

This is the eighth in a ten part series explaining signs that indicate that your firm or personal marketing program could use a tune up.

Tomorrow: What do ignored alarms indicate?
 
As always, if I can help you fix the ‘kinks’ in your business development, give Eric a call at 502-693-4731. You’ll find that I am an eager resource and that it costs nothing to talk.

Tune Up Sign 7: Up and Coming Rainmakers?

It is unclear which of the firm’s associates will be the firm’s next generation of rainmakers.

What does this indicate?

If true, this indicates the lack of an effective business development training and coaching process for associates. In addition, it can indicate the presence of overly burdensome hour requirements, poor communication in the firm, lack of an effective mentoring program, or confusion as to the activities and habits which produce the best results.

Firms that pay attention to succession and long term growth tend to invest early and continuously in the success of their associates. Regular training, mentoring and open communication about the skill development of the associates enables firm leadership to identify the associates which will be the next generation of rainmakers. Identifying and supporting the next generation of rainmakers is especially important in a firm who’s senior, rainmaking partners are nearing retirement age.

This is the seventh in a ten part series explaining signs that indicate that your firm or personal marketing program could use a tune up.

Tomorrow: What does Exit Panic indicate?
 
As always, if I can help you fix the ‘kinks’ in your business development, give Eric a call at 502-693-4731. You’ll find that I am an eager resource and that it costs nothing to talk.

Tune Up Sign 6: Low Client Expansion

Successful client expansion initiatives (proactive efforts to increase the number of practice areas a client uses) have occurred in less than 10% of the firm’s clients.

What does this indicate?

If true, this indicates a lack of a formal cross marketing program and training. It may also indicate low trust levels among attorneys, a high incidence of one-off matters, a poor understanding of the practice synergies between practice groups and/or poor communication between practice groups.

Cross marketing and entrenching client relationships is the low hanging fruit for firm growth. Often there are inherent obstacles to successful cross selling built into the cultures of many firms which must be removed before the culture fully adopts the transparency and teamwork required in cross marketing among attorneys and practice areas. If your firm struggles with effective cross marketing, it is worth examining these obstacles and training the attorneys in effective cross marketing initiatives.

This is the sixth in a ten part series explaining signs that indicate that your firm or personal marketing program could use a tune up.

Tomorrow: What does not knowing your next rainmakers indicate?
 
As always, if I can help you fix the ‘kinks’ in your business development, give Eric a call at 502-693-4731. You’ll find that I am an eager resource and that it costs nothing to talk.

Tune Up Sign 5: Kissing Up, Kicking Down

Hearing your culture described as ‘kissing up, kicking down’ makes you chuckle nervously or groan in agreement.

What does this indicate?

If true, this may indicate a counterproductive hyper-competitiveness in the firm. It may also indicate incentive systems which are too narrowly structured or which do not reward equally for the various contributions to the firm. It may also indicate cultures which put too great of an emphasis on the recommendations of key leaders and too little on peer level reviews. Lastly, this could indicate a lack of communication among the various levels of attorneys in the firm to address social and personal development issues in the firm.

Hyper competitiveness in law firms results in lower revenue growth, structural fragility, reduced morale and increased attorney churn. In today’s economy and changing client expectations, this type of eat-what-you-kill structure can actually do more damage than good.

This is the fifth in a ten part series explaining signs that indicate that your firm or personal marketing program could use a tune up.

Tomorrow: What does low client expansion indicate?

As always, if I can help you fix the ‘kinks’ in your business development, give Eric a call at 502-693-4731. You’ll find that I am an eager resource and that it costs nothing to talk.