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Why Clients Fire You

Written by Allan Colman on . Posted in Business Strategy, Managing Partners, New Business Development.

“Why clients fire you” is the title of an article written by our own Valerie Goodman back in May, 2016.  At a recent conference I was asked if I could repeat it for an unusual way to kick-off 2018.  It should be one of the first questions law firm management should be asking now.

In the Closers Group experience, lack of attention to client retention is a primary reason clients fire you.  When it comes to attorney marketing and business development the first step is to value and properly serve the clients you’ve worked so hard to get in the first place.  It is one of the simplest ways to accelerate business, wouldn’t you agree?

In Jay Abraham’s “Getting Everything You Can From Everything You’ve Got”, he cites many reasons why clients have become dissatisfied and have left even long standing relationships.  Think about clients who have left your firm.  Can you attribute any one of these reasons as a possible cause?  Our Client Satisfaction Survey found the following answers:

  • Lack of contact
  • Decisions made without authorization
  • Non-responsive
  • Failure to respond
  • Cost increases with no notification
  • Their internal situation changes.

Your new mantra should be CLARIFY – FOCUS – EXECUTE.

If You Chase 2 Rabbits, You Will Not Catch Either One !

Written by Allan Colman on . Posted in Business Development, Business Strategy, Managing Partners, Marketing for Law Firms.

In our business development advisories and workshops, we provide an alternative to this Russian Proverb, “If you chase 2 rabbits, you will not catch either one.”‘

You must know:

  • Six critical elements of exceptional leadership;
  • How to create sustainable revenue growth;
  • What it takes to build a strategic, competitive advantage;
  • Define and use your identity capital;
  • Improve your value and client experience;
  • Ensure your systems capture leadership’s Growth Objectives.

For a free, 30 minute consultation, contact us below:

Reveal Your Firm’s Under Performing Marketing Assets — Catapult Your Revenues Without Losing a Dime!

Written by Allan Colman on . Posted in Business Strategy, Managing Partners, Strategic Planning, Uncategorized.

Under performing marketing assets, when identified, are a real drag on your firm’s revenues.  Out of the 25 questions we use to build a successful business plan for clients, what would your responses be to these 7?

  1. Are you making decisions on under performing activities and investments?
  2. Do you complete success/rejection analyses of pitches and proposals?
  3. How are you maximizing the impact of these pitches and proposals?
  4. What success are you having expanding the number of colleagues actively selling and cross marketing?
  5. Can you use single marketing tools to leverage wider exposure and response generation?
  6. Is there a format for building a long-term pipeline of leads and opportunities?
  7. Who is measuring and reporting results  and who pays attention to them?

And what do we mean by saying our advice can advance the discussion of under performing marketing assets without losing a dime?  Simple-  experience shows that by a significant increase in your new revenues, the only cost is our professional fee.  And that is typically returned 4 to 5 times within 6 months.

To schedule a free 30 minute consultation go to 

 

How Much Revenue Is Your Firm Losing?

Written by Allan Colman on . Posted in Law Firm Leadership, Managing Partners, Strategic Planning.

How much revenue is your firm losing without an exit strategy for Senior Partners? Advance planning of exit strategies is critical to long term sustainable revenue. Failure to deal with this is a common million dollar blind spot for the typical law firm.

Success requires law firm executive committees taking a proactive role by understanding the “lifetime value” of a client from the present into the future.

* Evaluate the “identity capital” of senior attorneys.
* Build a client service team long before retirement.
* Develop a CLIENT RETENTION PLAN to advise, coach and direct individual exit strategies.

What’s Missing In Law Firm Revenue Growth?

Written by Allan Colman on . Posted in Law Firm Leadership, Leadership, Managing Partners.

What’s missing in law firm revenue growth is leadership.
Clarity, focus and execution start with a firm’s leadership. The key to transform sustainable revenue to productive revenue lies with the firm’s leaders who address critical impact areas.

Developing customized 90 day strategic implementation maps are needed to identify action details, timing, resources needed and leadership assignments. Leaders will emerge to help others overcome obstacles and challenges resulting in:

* More revenue * More clients * More open doors.

90% of Marketing is “Half” Mental

Written by Allan Colman on . Posted in Allan Colman, Attorney Marketing, Business Development, Content Marketing, Conversion Rate Optimization, Email Marketing, Law Firm Leadership, Leadership, Managing Partners, Marketing for Law Firms, Marketing Partners, Practice Group Leaders.

Yogi Berra’s famous quote, in it’s modified use, addresses the most important aspect of marketing and accelerating new business development. Ultimately it is the attorneys and paralegals that will drive law firm business development into the “accelerator zone.” For management, understanding how to support and drive their people by using our “one page strategic plan” becomes the road to success. Psychologist Bruce Tuckman observed a 4 phase path that teams need to follow on their way to high performance and accelerating new business — “forming, storming, norming and performing.”

Today’s column deals with the “forming” stage, where team members are positive and polite. Some are anxious as they do not fully understand what work they will be doing. As the leader, you play a dominant role at this stage, because roles and responsibilities are not clear. Be aware that this stage can last for some time, as people begin working together and make an effort to get to know their colleagues. The so-called attorney “silo” operational set is still all to present and prevents early acknowledgement of entering the “accelerator zone.”

Next column will cover “storming.”

“Strategic Thinking Cannot Be Taught” – Business Development Strategy

Written by Allan Colman on . Posted in Allan Colman, Attorney Marketing, Business Development, Law Firm Marketing, Managing Partners.

In George Gallup’s famous words, “Strategic thinking cannot be taught.” And since strategy is the 3rd of 36ixty’s 12 Essential Practices, we work with clients to identify where they need the most help.

  • Establish Rapport
  • Qualify the buyer
  • Find their need
  • Build value
  • Create desire
  • Overcome objections, and
  • Close the sale!

 

Build your new business development strategy on integrating these elements into your 90 day plans, and calendar year plans. Shopping cart

Are Managing Partners Really “Leaders”? (Part 2 of 2)

Written by Allan Colman on . Posted in Allan Colman, Business Development, Law Firm Leadership, Leadership, Managing Partners, Practice Group Leaders. 1 Comment on Are Managing Partners Really “Leaders”? (Part 2 of 2)

Following are 2 more questions asked by Nick Gaffney in the panel discussion for the December 14th issue of the ABA’s LAW PRACTICE TODAY. My responses follow.

HOW CAN LAW FIRM LEADERS TRAIN YOUNGER GENERATIONS TO EFFECTIVELY LEAD TO ENSURE FIRM LONGEVITY AND SUSTAINABILITY? WOULD FIRMS BENEFIT FROM INSTITUTING MENTOR PROGRAMS TO CULTIVATE LEADERSHIP QUALITIES EARLY ON IN YOUNG LAWYERS’ CAREERS?

The most effective training should involve a comprehensive professional development program, in including client management, relationship building, business development, understanding business financing, etc. And it should be set up in increments based upon years of practice by each attorney. The firm should also pay close attention to identifying future leaders and at some point, assign mentors to them. But the mentor role must be clearly defined and a contract made between the mentor and mentee.

IS IT DIFFICULT TO BALANCE THE RESPONSIBILITIES INHERENT IN LAW FIRM LEADERSHIP WITH MAINTAINING A HEAVY WORKLOAD? WHAT ARE THE BENEFITS ASSOCIATED WITH BEING A LAW FIRM LEADER?

The answer to this gets back to the question of firm size. With smaller firms, the administration, personnel and management tasks tent to be less interruptive. As in any organization, the larger it gets the more bureaucratic it becomes. Bringing in a sophisticated administrative officer, designating key leadership responsibilities to members of management or executive committee, and holding them all accountable for results will enable the leader to maintain key client relationships, become a recognized figure-head in the local business community, and set an example as part of their legacy.

www.closersgroup.com/blog

Crm Concept

You can read the initial post here.

Are Managing Partners Really “Leaders”? (Part 1 of 2)

Written by Allan Colman on . Posted in Allan Colman, Attorney Marketing, Business Development, Law Firm Leadership, Leadership, Managing Partners, Marketing Partners, Practice Group Leaders. 1 Comment on Are Managing Partners Really “Leaders”? (Part 1 of 2)

Based on an article in ABA’s LAW PRACTICE TODAY, (Dec. 14, 2015) moderated by Nicholas Gaffney, a member of the Law Practice Today editorial board and a veteran public relations practitioner. He asked 6 “legal field veterans” their perspectives on the multi-faceted nature of law firm leaders. My responses to his questions follow.

HOW DO THESE INDIVIDUALS BECOME BETTER LEADERS IN THEIR FIRMS?

A “respected” law firm leader needs three skills: the ability to listen, the readiness to make decisions; and — one that is most often missing — holding people accountable for implementing the decisions. In addition, thinking about what their legacy will be for the firm must be clear, concise and often courageous.

ARE DIFFERENT LEADERSHIP STYLES NECESSARY FOR DIFFERENT-SIZE FIRMS? WHAT ABOUT IN DIFFERENT PRACTICE AREAS?

Heading a practice area is often a non-position. All too many firms designate someone to lead a group, provide no support or direction, and expect results. But for those who actively work to improve the services provided by the practice group, and work at cross marketing with other specialties, the results can be powerful.

More questions and answers in the next post.

cheetah

Provoking Business Development “Leaders” – Pt. I.

Written by Allan Colman on . Posted in Allan Colman, Attorney Marketing, Business Development, Law Firm Leadership, Law Firm Marketing, Managing Partners, Marketing for Law Firms, Marketing Partners, Practice Group Leaders.

Provoking Business Development “Leaders” – Pt. I.

There are too many articles being written about metrics for marketing and business development efforts without focusing on answers staring you in the face. This series will identify numerous questions to ask and answer and find your true business development successes — or improvement needs — in provoking business development.

  • How many new relationships have your junior partners generated this year?
  • Do you know what percentage of your firm’s prospects are ready to buy?
  • If you require individual marketing plans, are they followed? are they a waste of time, effort and money?

Provoking Business Development – More Questions?

What questions do you want to add? I will include them in the upcoming series.