Legal Management: Setting Laterals Up for Success

Success in lateral hiring is like a coin flip — literally. According to a recently published ALM Intelligence and Decipher report titled, “Risky Business — Rethinking Lateral Hiring,” almost half of all lateral hires leave within five years, and 62% underperform in bringing over their stated books of business.

Assisting Lawyers With Business Development During COVID-19 – The LeXFactor

Lexicon Brand Manager Lauren Hoffmann and Chief Information Officer Brad Paubel host The LeXFactor, A Lawfully Good Podcast.

In this episode, they are joined by Deb Knupp, the Managing Director for GrowthPlay, to discuss how business development has been able to pivot in the virtual world, caused by COVID-19. She talks about the consulting firm she works for and how they utilize the cultivation of relationships to build predictable revenue in the legal industry.

Supporting Diverse Attorneys: How Marketing Pros Can Become a Business Development Ally

The path to partnership, which many attorneys aspire to achieve, can be a long and challenging road. In order to get there, an attorney’s ability to generate new business is a critical component. The partnership track can be even more difficult for diverse attorneys, as this group tends to lag behind their counterparts in business development. It begs the question: Why do diverse attorneys face challenges in business development, and how can marketing and business development professionals better support their diverse attorneys?

Reimagining Business Development Training And Coaching

If you were to poll the attorneys in your firm about whether business development is an expectation or an option, would you get a consistent answer? High performing firms are increasingly investing earlier and more often in attorney business development coaching and training. This is good news for a profession that historically looked down on business development as being beneath the character of a lawyer. Increasingly lawyers are recognizing that sales is about helping solve problems that need to be solved — an extension of rather than an adjunct to legal excellence.

Law Firms’ Future Isn’t About Rainmaking. It’s About Change-Making

Meet the rising star of new law: the changemaker. Change-makers are lawyers with a relentless focus on growth who also recognize that long-term success requires more than revenue generation alone. With the head of a rainmaker and the heart of an innovator, change-makers are quickly becoming a driving force in helping partners buy into new ways of thinking.

Rethinking Law Firm Growth: Moving from Bottom Line to Triple Bottom Line Success Metrics

The legal profession has had a pretty good run. Lawyers are busy and overall law firm economics are solid. After a decade of declining and flat growth, 2018 brought an upward tick in demand. Key practices of corporate, litigation and employment all reported growth. Anecdotally, a general sense of “busyness” contributed to attorney confidence and sense of productivity.

Of Counsel: The Legal Practice and Management Report January 2019

For a long time, the people most prepared to articulate and advocate for inclusion efforts in law firms have been human resource professionals and diversity officers. Increasingly firms, however, are realizing that diversity plays an important role in their efforts to sell their services and build lasting relationships with clients. In fact, far from being a purely inward-facing function, diversity and inclusion efforts should be a central pillar of your firm’s business development strategy, and this team should be staffed accordingly.