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.
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.
Work From Home (WFH) is the new default for the legal industry. Host Greg Lambert talks with a wide range of legal professionals who share their stories on this new work model.
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?
The natural instinct during times of chaos is to move into a place of scarcity. The single best gift you can offer clients is courage and confidence about the path forward.
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.
This is the first in a series of posts exploring how law firms can set themselves up for success when making the decision to grow through merger, firm acquisition, or lateral hire.
The GrowthPlay leadership team examined the sign of the times, and asked, what is it that we want to offer our community to elevate hope? That will create clarity and will drive some measure of control and confidence so that people can act courageously in this distress and post stress? With our Leadership in Distress Series we hope we can draw wisdom and best practices from those who really make a living navigating and helping leaders flourish in all times of prosperity and in spaces of crisis and distress.
The GrowthPlay leadership team examined the sign of the times, and asked, what is it that we want to offer our community to elevate hope? That will create clarity and will drive some measure of control and confidence so that people can act courageously in this distress and post stress? With our Leadership in Distress Series we hope we can draw wisdom and best practices from those who really make a living navigating and helping leaders flourish in all times of prosperity and in spaces of crisis and distress.
The GrowthPlay leadership team examined the sign of the times, and asked, what is it that we want to offer our community to elevate hope? That will create clarity and will drive some measure of control and confidence so that people can act courageously in this distress and post stress? With our Leadership in Distress Series we hope we can draw wisdom and best practices from those who really make a living navigating and helping leaders flourish in all times of prosperity and in spaces of crisis and distress.
The GrowthPlay leadership team examined the sign of the times, and asked, what is it that we want to offer our community to elevate hope? That will create clarity and will drive some measure of control and confidence so that people can act courageously in this distress and post stress? With our Leadership in Distress Series we hope we can draw wisdom and best practices from those who really make a living navigating and helping leaders flourish in all times of prosperity and in spaces of crisis and distress.
The GrowthPlay leadership team examined the sign of the times, and asked, what is it that we want to offer our community to elevate hope? That will create clarity and will drive some measure of control and confidence so that people can act courageously in this distress and post stress? With our Leadership in Distress Series we hope we can draw wisdom and best practices from those who really make a living navigating and helping leaders flourish in all times of prosperity and in spaces of crisis and distress.
Defining why your clients do business with you is a foundational step to client retention and revenue growth. Your clients always have a choice, and it’s likely that they work with you because of the ongoing value you provide. Replicating those profitable relationships requires you to define what that value is and how it is different than what someone else is offering.
The decision to take on any change initiative requires due diligence. As an organizational leader, you need to find the right piece of the puzzle to produce lasting results.
Creating true change within your organization takes more than a set of spreadsheets, a motivational speech, and a simple day of training. Quick solutions never bring long-term results. If you implement a hasty training session, you’ll short-change yourself, your organization and, ultimately, struggle to achieve the long-term impact that true transformation can bring.
Retaining your top performers is essential to the stability of your organization and your revenue goals. If you’re experiencing high turnover and under-performance, there’s no better time than right now to determine how you can right the course and prevent further challenges. The solution may be more than skin deep, however.
When successful people talk about their accomplishments, you don’t usually hear them say, “I don’t have a clue how it happened …” or “Beats me.” What you are more likely to hear is, “I had a vision that I turned into a plan.” They planned to succeed – they set themselves up for it and execution made it happen.
So, if planning is the key to success, why does strategic planning have such a high fail rate in law firms? Are lawyers simply bad at long-term planning? Do political, compensation, or other cultural issues get in the way?
Clients, employees, service providers, and suppliers are all facing unprecedented changes and challenges. For those who want to be true trusted advisors, the opportunity to demonstrate leadership, deepen trust, and cultivate followership requires not just mastering excellence in the technical skills to do great work as a leader. It also requires demonstrating excellence in five key elements to be a great leader. Those wishing to be impactful and steward influence to help their organizations, clients, and key stakeholders navigate through the turbulence will manage their intention and attention in order to: Be Present, Message Hope, Speak Truth, Provide Perspective, Cultivate A Leadership Mindset
This is the first in a series of posts exploring how law firms can set themselves up for success when making the decision to grow through merger, firm acquisition, or lateral hire.
When law firms merge, or when a firm is working to integrate new lateral hires, it can be tempting for leaders to cling to unexamined beliefs about how a newly formed group works together. These myths are often at the heart of mergers that fail to live up to expectations:
Learn how to recharge your business development team in three key areas: level-appropriate skill building, situational training, and development for experience rainmakers.
Learn how to use the Revenue Acceleration Framework to redefine your sales playbook and explore the new rules to engage clients in today’s market.
Learn how to use our three-step readiness assessment to collect data and insights in order to establish firm-wide growth priorities with your leadership team.
Innovation is a loaded term for many firms. A new GrowthPlay study looks beneath the surface at why law innovation is a challenge and what practical tools are available to circumvent them.
Listen to Deborah Knupp and Debra Baker explain the 7 design principles where law firms in 2017 should focus and prioritize to achieve a decade’s head start.
Lawyers are increasingly attuned to the need for innovation but the pace of change is alarmingly slow. A new GrowthPlay study reveals three key findings to help the legal professional move the needle
