Business
Development
Today’s competitive and
highly informed marketplace calls for a focused approach to business
development. That means taking the time to assess and align resources –
time, money and collective knowledge – with business strategy. We work with
clients on a variety of business development initiatives by
|
|
aligning
priorities for the firm, groups and individuals
|
|
|
using
client teams to focus on current market opportunitites
|
|
|
working
in industry/market sector groups
|
|
|
marshalling
internal and external business intelligence
|
|
|
creating
business development programs for cross-selling and referral networks
|
For further information
on developing and executing business development strategies, contact Richard Stock at rstock@catalystlegal.com
(416) 367-4447, extension 1.
Articles on Issues
Involving Business Development
"Legal Services in
Mature Markets"
Lexpert, May 2005
Law firms competing in
mature markets can meet the challenge with several measures. They must
learn better the details of the client's business, aside from the legal
issues. Superlative turnaround / service supports a higher than market
price. Sharing the savings arising from smart delegation of legal work and
negotiating multi-year partnering arrangements are powerful measures.
Finally, focusing the unbillable time of partners will leverage better
results.
"Counter-Intuitive Cross Selling"
Lexpert,
September 2003
It is fundamentally
wrong to pigeon-hole professionals. Cross-selling requires planning and
some rigor in its execution because it cuts across the grain of small
pyramids in law firms. The article describes the three barriers to
cross-selling. Several suggestions are made for partners and associates who
wish to cross sell, especially because all firms have marquée players who
are always greatly under-leveraged for cross-selling.
"We're Busy, But We Could Be Busier"
Lexpert,
September, 2002
Looking at trends and
averages for activity levels camouflages the systematic problems affecting
many law firms across the country. Six problems are presented. Several initiatives
are then proposed as a partial antidote: cross-border clients, pursuit of
clients in unstable economic sectors, multi-year agreements with select
clients, reduced infra-structure costs, and a re-consideration of the
business model.
"Business
Development Needs to be Managed"
Lexpert, November
/ December 2000
A 10-point business
development checklist for the Practice Group Leader is presented. Among the
suggestions are ensuring initiatives are balanced across the group, that
there is activity and result-reporting to the group, and that business
development is both reputation-based and relationship-based. All measures
should be specific and practical, with accountability for each member of
the practice group.
|
