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Provokers Pt. III. — Can They Really Close New Business?

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

Closing New Business

From Allan Colman, Business Development Accelerator, Speaker and Author – Clients average a 60% increase in new business in 6 months.

Third and last in this series on questions to provoke firm leadership into actively building and closing new business includes the following questions:

  • Has lack of follow up lost engagements? How many and how often?
  • Are your attorneys, accountants, etc. trained to overcome objections during the selling process?
  • Do they understand what are the greatest needs of clients and prospects?
  • Can your professionals close?

 

Your thoughts, ideas, comments are welcome.

Business Development Leaders — Have You Been Provoked? Pt. II.

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

Business Development Leaders – Have You Been Provoked? Pt. II.

From Allan Colman, Business Development Accelerator, Speaker and Author – Clients average a 60% increase in new business in 6 months.

Continuing with the series begun last week, these questions are meant to “provoke” business development  leaders and professionals to ask and answer these questions. You will find your true business development successes — or improvements needed!

  • Can you raise your firm’s profile with no “out-of-pocket” expenses?
  • Are your marketing and business development staff being trained for a continuum? a long range pipeline of new business?
  • What, if any, IT and Finance metrics are being used to plan future growth?

 

More provoking questions to come. What can you add to this growing list? I will include them in the upcoming series.

 

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.

Are Your Firm's "Incentives" Lighting A Fire for New Business Development ?

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

Are Your Firm’s “Incentives” Lighting A Fire For New Business Development ?

We often hear the following reasons from attorneys who do not want to market:

* It’s unprofessional;

* I fear the process;

* I failed once; why try again?

* I won’t cross-sell;

* We have no business development training program;

* I’m not compensated.

The easiest complaint to overcome is offering a performance plan which includes incentives for attorney marketing and business development actions. Excuse my cynicism but cash incentives often overcome inhibitors to performance. And if properly communicated during semi-annual performance evaluations, and supported by training and marketing staff, perhaps 10% of your professionals will get it and get moving.

Are You "Organized" for New Business Development ?

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

Are You “Organized” for New Business Development ?

In order to bring in new business by combining marketing, business development and business generation skills, is your firm organized with:

* Success metrics?

* Reputation Monitoring?

* Brand audits?

* Tracking the competition and trends?

* Organizing for pursuit?

* Talent Building?

* Training?

* Alliances?

* New offerings?

* Legal project planning?

If your answer is “no” to two or more, get moving before your competitors do! What else would you add to this list

Does Your Firm Have an "Enduring Competitive Advantage"?

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

Does Your Firm Have an “Enduring Competitive Advantage”?

This often overlooked strategy needs to be recognized by all professionals. It requires energy, resources and time. But it is the key to long term, productive revenue development.

* Whenever and wherever you are with a client or customer, the brand discussion must be the same.

* Does your group assess client satisfaction on a regular basis?

* Are your professionals being trained to utilize a common approach to the core of your services and the differentiation with competitors?

* Do you require a simple strategic plan for each approach?

* Is there a review of the stage of growth with each relationship?

The answers to these and related questions will make a major contribution to your long term revenue growth.

Why Do Senior Partners Resist an Exit Strategy?

Written by Allan Colman on . Posted in Allan Colman, Client Retention, Law Firm Leadership, Leadership, Managing Partners, Marketing Partners, Practice Group Leaders.

Why Do Senior Partners Resist an Exit Strategy?
From Thomson Reuters Legal Solutions Blog, August 20, 2015

When asked what major problems they face, we often hear Managing Partners say “senior attorneys. They want to hold on to their clients and not share origination or management credits.” The potential loss of revenue is significant. Failure to deal with this is a common million dollar blind spot for the typical law firm.

Often, these near-retirement lawyers are producing less and taking more.

What has been your experience?

read more

"Enduring Competitive Advantage" – What Does it Take?

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

“Enduring Competitive Advantage” – What Does It Take?

What are the criteria you use to build a lasting or “enduring competitive advantage”? How closely do you track competitors and the market place? Do you pre-test strategies?

Strategy requires clarity, focus and execution. Tools to build that enduring competitive advantage can include a strategic plan, follow up system, mastering lead generating, building a business model, etc.

What else does it take?