Any professional who is tasked with selling the service they provide has to contend with the opposing forces of developing business and servicing their clients. How do you strike a proper balance between doing existing work and bringing in guaranteed revenues versus venturing into your network to pursue opportunities that may or may not work out?
Professional networking is crucial to successful business development, but it is often an aimless, inefficient endeavor. It mostly consists of strangers in suits making small talk over lunch in search of “synergies.” Getting to know another human being is never a tidy, linear process. And while there is no instruction manual to walk you through all the steps, the KLTR model can provide a little structure and save you some time.
Ask any woman who works with traditionalists and she will tell you that there is nothing more irritating than being condescended to by a man who assumes he’s the more intelligent party. My female friends call it “mansplaining,” and if you don’t know what that is, you may very well be an inadvertent culprit.
Like all respectable professionals, we take pains to deliver detail-oriented, quality work to our clients. We conduct ourselves with propriety and seek to exude competence. But sometimes, without realizing it, we discredit ourselves through our unconscious idiosyncrasies.
The digital age has introduced myriad challenges into our lives. How can we use social media efficiently? What's the best way to minimize incoming spam without becoming inaccessible to prospects? Perhaps the biggest challenge is how to reconcile 21st-century habits into a good old-fashioned meeting without offending anyone.
Business development coaching is the #1 most effective method of growing law firm revenue, according to a recent market-wide study of legal marketers. But despite its overall effectiveness, not all coaching is created equal. Learn what can hurt the success of your coaching initiative – and potentially discourage your lawyers from investing in similar programs in the future.
Before your next client hires you, they will likely call for a meeting. But "getting" such a meeting is a one-sided concept. Good luck cold-calling a prospective client with such a strategy. There isn't anything in it for them, so they are likely to ignore the request. Wouldn’t it be great if you could get more of those meetings on your calendar?
In spite of the vast sums invested, law firms rarely have a standardized method for measuring a return on their events. While it’s good to “get the firm brand out there” and secure “exposure,” it’s even better when you can track the full lifecycle of the event, from the preliminary promotional effort to the post-game business outcome. Use these four steps to track the journey.
Now that the year is in full swing, it’s only a matter of time before we find ourselves overcommitted and double-booked. But if we aren’t careful, our attempt to exit from an obligation can damage our relationships and our professional reputations.
While technology analytics do tell a detailed story about marketing and lead-gen efficacy, there is often precious little to show for many law firms' business efficacy. Strategy-focused firms would be wise to keep a close eye on critical financial numbers and how daily business practices intertwine with those metrics. By using a specific set of Key Performance Indicators (KPIs) as its "guiding stars," a firm can foresee factors that may spell disaster or prosperity for the firm in the future.
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