A firm theory of evolution

Better business growth starts with a cultural change, Warrick McLean writes 

Promoted by Warrick McLean 15 May 2015 Big Law
Evolution
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Our practice management software provider regularly calls me to ask if I will speak to one of their existing customers, or a prospective customer, about our firm’s experience with our customer relationship management (CRM) system.

I am always happy to speak with any professional manager working within a law firm, especially with my Australasian Legal Practice Management Association (ALPMA) hat on.

Most firms I speak to are seeking to enhance their marketing and business development capability in order to grow their top line in what is a very competitive market, while also wanting to do more with less.

Firms are sometimes looking to the software to be the answer for their top-line growth and subconsciously abdicating responsibility. Software, when used to its full potential, is a fantastic tool to get more bang for your buck from your business development and marketing activity – but software alone is not the answer.

Attempting to throw a piece of software over a tired culture is not going to fix your top-line problem. In fact, unsupported by the business, it can be an ineffective solution and in the long run, cost the firm money.

Establishing the right business development culture is key.

Building a business development culture is something that can’t be left to chance. It may be looked on as a difficult task, but there are certainly some simple ways to achieve success. Here are my top tips on building your firm’s business development culture:

1. Get buy-in at the top
Without engagement from your partner group, changing your business development culture will not transpire. Work with your team to develop some key, simple and achievable objectives.

2. Recognise difference
Each leader within the firm will have their own approach and business development style. Some may be very skilled at managing existing client relationships, while others may be great at engaging new prospects. Firms should understand and foster each individual’s strength, rather than implementing a one-size-fits-all approach.

3. Seek external assistance
Most firms have a team of great lawyers, but when it comes to a strategic and systemised approach to business development, it is best to work with an external professional specialising in this area. Most marketing consultants will help you in developing your funnel and with ways to manage your firm’s pipeline. Using an external professional will allow you to develop a best-practice approach.

4. Start with your existing clients
Once your firm has a feel for business development activities and you start to build your pipeline, lawyers begin to see opportunities everywhere – especially among current clients. Sharing and leveraging existing relationships is a sure-fire way to grow your practice and ensure clients remain “sticky”. Law firms generally have a fantastic opportunity to improve their existing relationships with referral points and clients. If you can actively manage these relationships, a simple phone call to touch base can result in a new matter. It’s important for lawyers to stay actively connected to their clients and ensure they are providing a high level of client service. Clients enjoy communication and feeling that their needs are being considered. In turn, this increases the likelihood of clients using or referring your services again.

5.Get the basics right
It’s important to manage your customer and prospect data. Successful firms recognise the importance of data and ensure they have strict business processes in place to manage client and contact data. Having one source of client data sounds simple, but for many firms it is a real challenge. If you are able to get the database right, your business development activities become much more manageable.

6. Celebrate your wins and watch the momentum build
In order to build momentum, it’s important to celebrate wins and actively recognise those who achieve. Publicly recognising the lawyers who get out of their comfort zones and do things differently builds confidence and encourages the continuation of business development. Acknowledge actively each win either through firm-wide emails, intranet platforms, management meetings or at internal firm events. A business development culture requires leaders within firms to weave it into every part of the practice. Lawyers can be competitive at the best of times and if they see others in the firm doing things differently and achieving positive results, they will be more inclined to get on board.

7. Embrace change
As the legal landscape becomes increasingly competitive, those firms that succeed and survive will be ones willing to do things differently and embrace change. Changing culture can be hard, and it does take commitment, but for those willing to try – and ultimately succeed – the pay-off will be significant.

Warrick McLean is the CEO of Coleman Greig and a national board director of the Australasian Legal Practice Management Association.

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