Don't abandon the hourly rate just yet
7 tactics for taking market share
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?
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:
7 strategies that will help mushy middle law firms make a mint
It’s that time of year again. Yep, the time that 80% of the emails we send come back with an ‘Out of Office’ message on them.
The problem with the mushy middle for law firms
A 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.
4 things your Associates were afraid to ask (but you really should tell them)
“It feels like common sense to play to the center of the market, but actually the middle is least desirable place to be.
It's September... Christmas card time!
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.
How to get junior professionals contributing to your Firm's BD
One of the main challenges in developing any professional services business is finding new ways to keep your personal brand top of mind and tip of tongue.
Two ways to boost your Practice in FY17
How 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.
Is it time to reboot your Practice?
This is a challenging time for law firms. Many practice owners, partners and principals are worried about what the next 12 months will bring. You don’t need to be one of them….
7 things you should do after winning a tender
The market for legal work will be increasingly shaky, some argue. Little wonder, then, that so many lawyers are pessimistic about what the future holds for their practice. But I don’t think it’s all doom and gloom.
7 things professionals can learn from creatives
So you pooled your firm’s resources, pulled a few all nighters and presented a winning pitch. But what happens next?
Addressing the 5E's at CXPS
I recently spoke at the 2016 CXPS Conference in North Carolina. Coincidentally, the conference was held at the same time as Moogfest, an event that bills itself as a gathering of “artists, futurist thinkers, inventors, entrepreneurs, designers, engineers, scientists, and musicians.”
What should you charge? 10 factors that should determine your pricing
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’.
5 more fears about client feedback (and how to overcome these ones too)...
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.)
3 common fears about client feedback (and how to overcome them)
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.
How to ask for work
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...
The changing face of General Counsel
A lot of people have been asking me how to ask for work lately. Here are seven tactics I tell them to use.
How to build your practice when you're busy
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.
8 times a new client will want to hear your pitch
‘How can I possibly work on business development? I’m flat out doing client work.’
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.