Concentrate on your key clients – a familiar mantra to many a law firm manager looking to boost the bottom line. But which clients should a firm designate as key? Where do you draw the line?
Firms derive the vast majority of their work from their...
And which do your clients prefer?
Can your clients or prospective clients determine which you are? Do they care?
Astin Tarlton has an entertaining piece on
Attorney at Work that talks about clients being like kids in a candy store.
Research conducted by the Redwood Think Tank confirms what many business consultants tell law firm managers — that they should be judicious in devoting resources to small clients. Data indicates that small clients rarely grow into large clients...
One of the best ways to hone a firm’s business strategy is to dig deeper into the assumptions relied upon to devise that firm’s business strategy. At the Redwood Think Tank, we reported not too long ago that law firms, on average, lose work...
While the managers of professional services firms often view market pressures as the driving force that determines whether clients remain loyal or choose to shop elsewhere for added services, a study by the Redwood Think Tank indicates that firms have...
Many law firms have a theory. Winning a small amount of work from a desirable client can be a good way to bring that client into the firm’s fold and begin a new relationship. Over time, the theory goes, if this client is nurtured properly, it can...
Semantics sometimes get in the way
of some good advice. When you try to convince clients (subtly or otherwise) to
engage your law firm for additional services not previously rendered, I think
it is silly to argue about whether you are cross-selling...