Business Development, Coaching And Sales

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Leaders in Legal Business Chapter: Business Development, Coaching and Sales Author: Silvia L. Coulter, Principal Consultant and Chair, Business Development Practice, LawVision Group LLC Firms are faced with many challenges from a mature and changing industry. While some may say disruption is now happening to the legal industry, it’s been slow and steady for 20 years and is now approaching the tipping point. Law firms have been challenged to find new ways to maintain profitability; to increase responsiveness, throughput, and consistency in the deliverable work product; and to keep the fees reasonable. This brings us to today, which is a fiercely competitive legal landscape where we see three types of firms: “Leaders” — those firms that are well managed and making notable changes in the way they lead, manage, compete, and retain and grow talent and clients; “Followers” — those firms that may be well managed but are still trying to manage change by consensus and wait until others show the way before they realize they need to do things differently; and lastly, “Sanders” — those firms with their heads in the sand and that (for unclear reasons) are frozen in time, afraid to make the necessary changes to meet the market demands and the changing competitive landscape. The Leaders know that focusing on the client is one key way to retain and grow revenue. Hiring business professionals who are experienced at guiding the firms’ revenue growth sales strategy is essential if a
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