One of the benefits of writing an article at the end of the year is the opportunity to look over what has happened in the past 12 months and make some predictions of which trends will continue into the new year – hence the snappy title of this article.
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In a market where buyers have the power, it can be hard to know how to price professional services competitively without compromising profitability. But, by following these 6 rules, you’ll be a lot closer to being on the money.
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Getting the right information starts with finding the people in the firm who know a lot about the client and their industry, and then listening hard to what they have to say.
Read MoreLaw-firm success can be attributed partly to how well its leaders lead, but probably more important is how well its followers follow.
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The networking events at this time of year can be a boon for BD, or a drain on our energy levels. The difference often comes down to how you approach it.
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If you have HR responsibilities in a law or accounting firm then you’re working in the epicenter of turbulent times. Here are six strategic shifts within legal with profound HR implications.
Read MoreFormal networking groups have become de rigeur. But are they worth the time, effort and, most importantly, money? We explore...
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Ever had a client rave about one part of your firm, but complain about another? It’s more common than you think—and it doesn’t always mean something’s gone wrong. Mixed feedback from the same client often points to deeper issues: inconsistent onboarding, patchy internal referrals, or overloaded client relationship partners.
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Want to find out the truth about how your firm is performing? Ask your good clients first, not the bad ones.
Read MoreCompanies are increasingly circumventing lawyers to seek direct advice from a barrister in a squeeze on legal costs, according to a survey showing at least half of the New South Wales bar's clients use barristers exclusively or most of the time and direct briefing is up almost a third in three years.
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Sometimes your client feedback meetings can go off piste. So you need some tactics for fixing things when they stray a little off course.
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A new financial year can be a great time to give your business development efforts a great big, hard shove. Here are 10 practical ways you can start the year with a BD bang.
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If you want to gain market share from your competitors, don’t rush into a brand overhaul. Ask your clients what they think of you instead.
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Good Business Development (BD) is about being yourself. If you hate golf, don't take clients golfing. Use your genuine interests to build authentic client relationships.
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How often are we told that the billable hour has had its day? That it’s archaic, that it’s inefficient, that it makes our clients angry and holds our practices back?
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In January I tuned in to BTI Consulting’s annual webinar on the Market Outlook and Client Service Review of US Law Firms. There were some very practical insights relevant to all professional service providers, including 7 tactics for taking market share. Here are my highlights:
Read MoreA little while back I wrote an article cautioning law firms about the perils of playing in the ‘mushy middle’. I pointed out that this was the most competitive - and most vulnerable - part of the legal services market where fees are under the greatest threat. It’s also the part where it’s becoming hardest to make a decent living.
Read More“It feels like common sense to play to the center of the market, but actually the middle is least desirable place to be.”
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When it comes to the way your law firm operates - and what you expect your lawyers to do to keep it profitable - you might be surprised what your associates don’t understand.
Read MoreHow do you get professionals to contribute to your firm’s business development from the very moment they start? It’s one of the hottest issues in professional services marketing and BD right now, and it’s something I spoke about recently at an APSMA session in Auckland.
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