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5 Ways Small and Midsize Law Firms Can Win More Pitches (and Improve Realization Rates)
For over 20 years, I have been helping law and other professional services firms to win more business by building systems and processes that help them to win more with fewer resources. At many small and midsize firms, it seems that there is a constant "reinvention of the wheel" nearly every time that a pitch or RFP comes through the door, which wastes money and time and increases staff turnover. Smaller law firms can significantly increase their chances of competing with large "Goliaths" by bringing an industry focus, maximizing their digital footprint, building processes and systems around the pitch/proposal process, looking backwards for strengths, and engaging in social media.
Become An Industry Expert
To be blunt, clients are not very concerned with how law firms are structured internally. For example, a restaurateur doesn't care that one attorney forms her company while another works on labor and employment issues; they want a single point of contact and they want advice contextualized around their specific needs and issues. One of the most effective ways to do that is by shifting the focus from selling services to selling integrated solutions. By understanding clients' needs and pain points, law firms can tailor their pitches to address specific issues and demonstrate how their focused services can add value. That only comes from internal collaboration and integrating offerings under an industry-focused go-to-market strategy. At the very least, instead of simply listing out services and practice areas on your website, focus on showcasing the interdisciplinary issues, outcomes, and benefits that clients can expect by choosing your firm and list these results by industry. Think case studies and testimonials!
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The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.