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Law Firm Leadership
There is no shortage of discussions on cross-selling in our firms, but one important factor that often gets short shrift is the role of leadership in the success of these initiatives. Without effective leadership, cross-selling efforts can be episodic at best, or abysmal, 'let's-never-do-that-again' failures at worst. To develop a solid foundation for success, leaders must develop the right environment, get off to the right start, and have the tenacity to keep momentum alive over the long haul.
Challenges of Cross-Selling
It doesn't take a genius to recognize the huge rewards that can come from an effective cross-selling process. If there is so much bounty that can be achieved, why aren't we good at it? The reason is that there are many obstacles leaders must overcome in order to get cross-selling to take hold. We have siloed structures that isolate lawyers from each other. We have compensation systems that do not reward (and at times, actually disincentivize) these kinds of activities. We have lawyers who are afraid of turning over their valuable assets (their best clients) to others in the firm for fear that someone else will screw up the relationship. We have a set of personalities that do not know, or want to know, how to properly sell in these circumstances. Our internal communications are seriously flawed. We don't know what we have to offer in terms of practices, personalities, and backgrounds. We don't even really know our clients. Many lawyers are so focused on their practice areas that they haven't expanded the relationship from being seen as a subject matter expert to becoming a trusted adviser. Finally, the biggest gap in many firms is the lack of an accountability and follow-up process. When we see studies that say it takes around seven meetings with a potential client to get work, when we read another study from the Legal Sales and Service Organization (LSSO) that states that approximately two-thirds of sales leads are not followed up, it is no surprise that lawyers usually do not have the systems or stamina to capture work that could be theirs. Imagine what our revenues would look like if we had a process for staying on top of our best prospects!
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