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While acquiring the skills necessary to develop business is certainly a life-long journey, here are five critical elements to consider from the outset.
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Although we understood how important in-person listening was before the pandemic, the background listening was something we used to take for granted. Here are five ways to practice active listening and remain engaged when we can't be in a physical environment.
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Partnerships are relationships, ideally relationships built on trust and a common goal. Successful partnerships require all parties working together — working together to service a client fully, generate revenue and to build a business. This requires openness and coordination.
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Many attorneys don't actually know how to scale business and require guidance in order to develop and exercise that muscle. This is precisely why law firms should invest in their associates' business development efforts from the start.
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A once-in-a-lifetime pandemic caused once-in-a-lifetime expense reductions that could forever alter the business of law. After those cost savings fueled double-digit profit growth for many firms in 2020, don't be surprised if Big Law leaders try to make some of those gains stick.
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2020 and 2021 have not just been bends in your business development road — it has been more like the road has been placed on top of a roller coaster where you cannot see what the next curve holds.
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Attorneys can utilize accountability partners to fuel the advances one truly wants to make in their efforts to build books of business.
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The lateral partner challenge is, essentially, a vetting challenge. And yet, few law firms take a strategic approach to vetting and hiring laterals.
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The current circumstances are giving rise to conversations about pricing, and driving both sides of the law firm-client relationship to seek common ground — both in the form of tried-and-true alternative fee arrangements and those that reflect a more innovative approach.
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In the past few decades, law firms have made great strides in catching up with the rest of the corporate world and are reaping the benefits of all kinds of marketing. This acceptance by firm management is in great part due to an increased appreciation of analytics, made possible by digital marketing and social media.