Law Firm Client Relationships

While the law firm model has historically rewarded inefficiencies, recent trends show that model is reaching its expiration date.

Looking forward, firms appear to be counting on rate increases to maintain profitability, but there are signs that clients are likely to be more resistant to further rate hikes as payments slow down and realization was in decline at the end of 2022.

The problem with giving feedback is that it often comes across as criticism. Human beings tend to react defensively, resulting in a denial of the feedback or worse, entrenchment in the behavior or attitude that may be derailing them in the first place? How can we give feedback in a way that minimizes defensiveness?

Why do some people sail through the entire budgeting, billing and collection process, while for others collection always means trepidation?

Buyers of legal services are now a highly sophisticated and connected community. What the clients now not only want but insist on, is operational efficiency, effectiveness and transparency.

The New Reality, for which law firms are scrambling to equip themselves, is that law firms no longer define their own service levels. Now it's the clients, and they have clear expectation parameters.

In the current talent war, many law firms are hunting for talent with a focus on traditional "industry experience" and prestigious educational backgrounds as familiar criteria in their candidate search process. But what if law firms are missing high value talent — on both the legal and administrative side — that may be right under their nose?

The "best choice" provider pitch may not be the optimal sales strategy. It's better to adjust to where the prospect is in their buying decision process — whether that means they are looking for providers, they are studying the situation, they already have counsel, or they have decided not to address the issue.