Law firm cost-cutting is only half the equation. It must be combined with creating a real sales force. Otherwise, it's a Band-Aid.
Law firms don't grow current clients because they lack intelligence about problems that drive demand, despite having the means to obtain it.
Law industry trends reveal a conspicuous absence: sales. How can a mission-critical function not be included in the law business conversation?
Marketing (lead-generation) cannot work without Sales (lead-conversion). Investing in one without the other guarantees expensive failure.
Time worked has no inherent value. The output of work has value; how long it takes is irrelevant. So, why do lawyers sell time?
Lawyers, it's simple: Sellers are in short supply, so they're in demand. There's an oversupply of Builders (service lawyers), so they're not in demand. Become a seller.
Good news: When it comes to rainmaking, lawyers are part-time rainmaking apprentices competing against other part-time rainmaking apprentices.
Traditional sales language, e.g., "closing," speaks of acting upon the buyer rather than with her. Pursuing a selfish “yes” creates resistance.
Online lawyer networks can bring you leads, but not clients. You have to convert leads to clients yourself, and you'll need sales skills to do that.
The most important step in the sale is the "why," which is one of three categories of needs you must learn about.
Waiting for someone to provide business development training for you? Buy it yourself. You can get good at business development, or at waiting.
You'll get good at business development the same way you got good at lawyering. Instead, call it "lawyer business development practice."
The future of BigLaw business development practice is teaming a sales pro with content-expert lawyers. The sales pro manages the sale; the lawyer is the solution credibility.
What is the difference between “business development” and “sales,” and does it matter? Lawyers routinely use these terms interchangeably, but shouldn't.
In sales, avoid playing the "gender card" in favor of learning how to manage stakeholder alignment.
Lawyers understand the importance of attracting prospects, but miss the importance of eliminating the time-wasters among those putative prospects.
For Fortune 500-level GCs, the legal staffing “make vs. buy” decision seems to be shifting toward “make” for the most basic of reasons: ”Buy” is no longer economic.
We’ve all experienced the “follow-up” phenomenon that ensues whenever we accept an online offer of free content. Here's a great one.
Sales objections? Forget 'em. To get hired, behave as if you’ve already been hired, i.e., focus all your energies on helping your prospect make a good decision, without regard to your self-interest.
Lawyers can introduce a collaborative pricing process that eliminates almost all of the risk for both sides.