So you pooled your firm’s resources, pulled a few all nighters and presented a winning pitch. But what happens next?
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In May, I joined Lynette Nixon Innovation Director at PWC to address the CXPS: Client Experience in Professional Services Conference. Together, we spoke on ‘Building client journey maps to drive action and deliver smart revenue’.
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For professional services firms, working out your fees can be a balancing act between charging enough that you’re not leaving money on the table, but not so much that you’re pricing yourself out of work. (Unless, of course, that’s your conscious plan.)
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Last week I blogged about three common fears that hold professionals back when it comes to asking for client feedback. And I was pleased to see that my post generated a reasonable of discussion from people on the feedback front line.
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The value of client feedback to professional services firms is well documented. And yet, so many professionals let their fears about client feedback hold them back from doing it properly. If you’re one of them, read on...
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If, like me, you believe that the essence of good client service is knowing your client, The Legal 500 General Counsel Powerlist for Australia and New Zealand should make for a fascinating read.
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‘How can I possibly work on business development? I’m flat out doing client work.’
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Winning new clients is hard work. But it becomes a lot easier if you hit them with your pitch when they’re actually receptive to it.
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An effective client listening program is one of the most valuable tools in any firm’s competitive armoury. If you’ve been thinking of developing a client listening program but don’t know where to start, you’re not alone.
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Need work now? Learn how to get that first meeting with a potential client swiftly, smartly and with impact. This no-fluff guide shows lawyers and advisers how to be direct, spot the right triggers, and put yourself in your client’s shoes to win time and trust in just 30 minutes.
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The most common question from professional services firms: how to win more work. The answer isn't elaborate strategy—it's removing internal blockers. Empower everyone (not just partners), streamline approvals to 48 hours, leverage credit manager insights, and test adventurous channels. Most firms don't lack strategy; they have processes that kill opportunities.
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Professional services firms are often told that success comes from focusing on, and ‘owning’ a particular market segment. But what exactly does that mean?
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Once upon a time, there was a time and a place for everything. Young professionals learned the ropes slowly and methodically.
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Many in-house legal teams adopt the view that they’re a law firm with the business as their sole client. I disagree with this approach entirely. Taking an ‘us and them’ stance reduces lawyers to a ‘check’ on strategy rather than being part of the strategic team.
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Call me old fashioned, but I think nothing beats referrers as a source of new work.
Read MoreThe recent report Australia: State of the Legal Market 2015 revealed just how much the legal market has changed over the past 10 years. What I’m interested in is what this change means for law firms hoping for a future.
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When it comes to business development, some professional services firms are their own worst enemies. They create an environment in which winning new work happens in spite of their culture rather than because of it.
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It’s just 24 hours until the first live Bledisloe Cup decider in many years. And given that so many people on both sides of the Tasman have rugby on their minds, I thought now was a great time to think about selecting your practice’s own first XV.
Read MoreGiven the many changes to the legal industry in recent years, it's become somewhat fashionable to question the business savvy of the people leading traditional law firms. But my experience is that this thinking misses the point - at least in the main.
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When it comes to winning more work nothing gets professionals going more than a bit of healthy competition.
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