Whether it’s for individual attorneys, practice groups or an entire firm, our business development consulting insures that the right pieces are in place for conversations with clients (or potential clients). A twenty-minute discussions can be worth hundreds of thousands of dollars in revenue. Our job is to make sure that the attorneys involved are prepared, are trained, and have the information they need to make the most of the opportunity. Although each engagement is different, here are some of what we typically work on in assisting with business development:
Information sources – how are you monitoring your markets, your clients and your target clients? What information do you need, what information are you collecting, and how efficiently are you providing it to your attorneys?
Processes – this begins and ends with the attorneys. Is the information you’re providing them in the format and with the content they need? This includes CRM systems, competitive and market intelligence programs, research and meeting preparation. What’s working, what isn’t, and why/why not?
Tools – are the basics of business development in place? Elevator pitches, LinkedIn profile and social media presence, biographies and other materials – these are the bricks and mortar of bringing in business, and have to be first-class and ready to go. A current, correctly constructed pipeline report is a critical tool as well.
Training – do your attorneys, particularly partners, have both the baseline training and periodic refreshers in the skills business development requires? This includes business networking skills, presentation and pitching practice, sales skills, and most of all, listening skills?
Metrics – how are you tracking and measuring business development efforts – and results? Are you using the right metrics, to measure the right results?
A well-known Chinese business maxim is that one should “Wait long, then move fast.” This applies to legal business development as well. Our consulting insures that when that critical opportunity arises, you’re ready to identify it, move fast, and make the absolute most of it.