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The Red Zone

The RED ZONE - Selecting Outside Firms

By Allan Colman, Managing Director, the Closers Group:

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SELECTION in the Red Zone is the fourth and final criterion a law firm team needs to identify when pursuing a client. Just what concerns and experiences will be influencing final selection? The previous three are: HIDDEN DECISION MAKING RELATIONSHIPS AND RETENTION PERSONAL CONSIDERATIONS. Just because an in-house counsel recently moved from a competing law firm, do not assume he/she would retain them. Firms should compete in situations in which they might otherwise assume that the competition has an insurmountable advantage. Or if a potential competitor will be sitting in on your meeting, you should elevate the level of candor in your relationship with the buyer by simply asking the buyer how he or she would like you to handle confidential information - invite more substantive discussion. This shows you want to get down to business, talk strategy and not merely promote yourself and your firm.

And by doing so you have raised the buyer's expectation that even this meeting will produce value irrespective of which firm is eventually hired. This value is also conducive to closing. It is the decisive moment. Firms attempting to sell their services are well advised to make the most of it.

allan colman.


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