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Business Development for Law Firms

About this episode:

In this session, we will hear Randall talk about Leadership Insights on Business Development for Firms.

• Growing your firm through thought leadership.

• Navigating the time investment required to create thought leadership vs the pressures of billable hours.

• How to measure the success of your business development initiatives, and when change may be needed?

• Business development goals, accountability, and IP and thought leadership within the bus dev process.

All of this and much more to learn in this episode.

Part 1

Part 2

Part 3

Topics Discussed

• What are the key considerations for successful business development for firms?

• The value of thought leadership investment for established firms vs lesser-known firms

• In an environment with billable hours, how much do we want business development and investing in through leadership on the minds of our employees?

• Why don't we see business acumen offered more frequently as professional development by associations and employers?

• What business development investments can firms expect from their staff?

• How can firms offer stellar client service, and where may they overlook client service quality?

• Recommendations for referral and partnership agreements between firms

• Post Covid, when virtual meetings are the norm, how important is it to expand into new geographies and have "local" offices?

• Would you recommend a firm getting on where they would offer to members of a certain group preferred pricing or agreements?

• Pro or Against: Volume pricing

• What IP and thought leadership to firms and partners need to have at the ready?

• What KPIs should firms measure?

• Making room for women in a traditionally managed law firm?

• How can we measure the success of the business development efforts of each individual contributor in a firm?

• Firms offering professional development to their staff: What message does it send, and do clients care?

• What is the perspective shift you invite managing partners of firms to consider when it comes to their business development strategies?

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