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Seller's Market

What does the pace of law firm mergers mean for BD?

The record pace of law firm mergers and acquisitions are definitive proof of the maturation of the law business. In a mature market, nothing that worked in a growth market will work. That means law firms have no choice but to embark on radical changes, beginning with the Sales function.

Not-To-Do #13: Do-it-yourself, or work alone

When it comes to getting, keeping, and growing large accounts, the day of the lone-wolf rainmaker has passed, never to return. That worked during the 25-year law boom because everybody was buying legal services. In the buyer's market that will be with you for the rest of your career, you need to ferret out, investigate, and validate potential opportunity continuously. You need more hands on the oars, just to defend and sustain what you already have.