New Legal Norms
Today’s legal environment is moving at a torrid pace. Where are we? What are the new norms for law firms? We included three related topics that form the basis to good law firm management and future success.
The Seven Habits of Highly Effective Partners
It’s harder to become a law firm equity partner these days, and harder to remain one as well. As profitability has tightened in many firms and the general economic outlook has dimmed, the standards for equity partnership have been raised across the profession and will remain high. Altman Weil Senior Consultant, Eric Seeger, outlines seven contributions law firms should expect from their equity partners to ensure internal fairness and firm profitability.
Fees – Clients Pressuring You on Fees? Get the Value You Deserve
While fee collection issues have been around since the beginning of the practice of law (Abraham Lincoln vs. Illinois Central Railroad 1857), in today’s legal environment it has taken front stage both in the news where fee collection suits are more common and in law firm management meetings. John Doerr puts our value propositions in clear focus in relation to fees. “In the end, whether we are talking about a new client or an existing one, it all comes down to this: “If I were the client, would I pay my fees based on the value I am providing? I sure hope so.” John Doerr is President of the Wellesley Hills Group, a management consulting, marketing and lead generation firm dedicated to helping professional services companies generate leads and increase revenue, prices, and profits. Watch a humorous re-enactment of a fee negotiation.
How to Sell for a Lawyer – Be Like A Doctor
In Law Firm marketing, Larry Bodine reveals how lawyers should ask clients and prospects, “Where does it hurt?” Talk about the topic that is most interesting to clients: themselves. If they are talking, you are selling. Click here for the 6-minute lecture that includes the notes below.
- Clients are the low hanging fruit in law firm marketing — but lawyers go about asking for business the wrong way.
- What clients want: a personal counselor or a trusted adviser.
- Why it’s a mistake to recount your credentials to a potential client in law firm marketing.
- Amateur selling is saying, “this is my firm, my practice area, this is how long our firm has been in operation.”
- The most interesting topic to clients. “If they are talking, you are selling.”
- Why there is no downside to business development.
- Sell the way that doctors do: ask “Where does it hurt?”
- If doctors sold like lawyers do, you’d run out of the office as if your hair was on fire.
We Can Help
If you would like to discuss this subject or other insurance matters further please contact:
Uri Gutfreund, RPLU at 201-837-1100 or uri.gutfreund@SingerNelson.com
This material is provided for informational purposes only. Before taking any action that could have legal or other important consequences, speak with a qualified professional who can provide guidance that considers your own unique circumstances.