Creating Consistency in Your Firm’s Business Development Culture
In uncertain business times, consistency and predictability are paramount. I would argue that predictability is a better measure of long-term success than record-setting profits. Law firms cannot afford to take a reactive approach to business development. Consistent investment, a focus on diversified business development efforts, and a commitment to fostering a culture of business development are keys to long-term success.
Rethink Strategic Planning: Build a Strategic Growth Toolkit Instead
Law firm strategic planning has a bad rap. Many firms spend significant time, energy, and resources developing a strategic plan only to see it falter. Often, the reason strategy fails isn’t the plan; it’s the lack of support and management tools needed for implementation, particularly when it comes to the strategy for growing top-line revenue. […]
Beyond the Box: Giving Meaningful Client Gifts To Deepen Client Relationships
As the holidays approach, many professionals and their firms find themselves contemplating how best to recognize and thank their clients. While holiday gifts and cards are a longstanding tradition, the challenge lies in making these gestures genuinely meaningful instead of an obligatory commercial action item to be done before year-end. At its heart, holiday gift-giving […]
Business Development Advice for New Partners and How Law Firms Can Support Them
Making partner is a career milestone for many lawyers. After the initial excitement, new partners might ask themselves: What now? Often, many are overwhelmed by the daunting new task of building a book of business. By keeping in mind a few guiding principles and focusing on realistic expectations, new partners can handle the transition smoothly […]
G3 in the Real World: A Case Study and Success Story of ‘Hunting in Packs’
At GrowthPlay, we preach the power of the G3 strategy to business development: guard, grow, and get. Using the proverbial 80/20 rule, 80% of law firm revenue is typically in the guard and grow segments. Most law firm revenue is derived from existing clients, so attorneys and firms invest in revenue retention through client experience […]
Making Strategy Stick: A Growth Readiness Roadmap
As law firms navigate the uncertainties impacting the business of law, leaders must be more intentional about driving consistent and sustainable growth. Unfortunately, most strategic plans fail because they are either too aspirational or too tactical. Aspirational strategic plans are heavy on vision but light on concrete action; tactical strategic plans focus on box-checking but […]
Every Lawyer Is a Seller – And We Have the Data to Prove It
Contrary to the stereotype that lawyers are either “finders, minders, or grinders,” there is no one-size-fits-all approach to business development. Every lawyer has the potential to be a seller – and we have the research to prove it. Since 2015, GrowthPlay has taken a page from the corporate sales world by using a strengths-based assessment […]
Turning Anxiety into a Business Development Superpower
Anxiety disorders are the most common mental illness in the U.S., affecting 40 million adults in the United States age 18 and older. Anxiety disorders are highly treatable, yet only 36.9% of those suffering receive treatment. Anxiety disorders can develop from a complex set of risk factors, including genetics, brain chemistry, personality, and life events. […]
2024 International Women’s Day – Impactful Ways to Support Women
If, like us, you want to do something during Women’s History Month, here are a few impactful, practical, and meaningful ways to support women – not just this month but all year ‘round. Participate in equity-based professional development training. Industry organizations, such as the American Bar Association, offer webinars, panel discussions, and other training opportunities […]
Returning to Private Practice: How Lawyers Can Find Authentic and Valuable Ways to Connect with their External Networks to Rebuild a Book of Business
One way to rebuild a book of business when returning to private practice is by building collaborative relationships with partners in their firm, which we discussed in the article Returning to Private Practice: How Lawyers Can Build Relationships within their Firm to Advance Business Development Goals. Another way to encourage business development opportunities is by […]
