A while back I did a presentation on this topic – with a bias to bridging the gap between partners/management and the BD/marketing team – for Conscious Solutions conference. The ten tips were:
To survive:
1. Get a grip on the finances
2. Do a reality check
3. Prepare a plan
4. Get big, get small, get niche or get out
5. Love your existing clients
To thrive:
6. Use new technology
7. Develop new services and markets
8. Be creative about pricing
9. Innovate
10. Look at LMPs, MDPs and ABS
Golden rule – Take care of your people
I included some research information about whether the legal market changes were a seismic shift or a temporary blip, financial frighteners, flexibility or fear, code of conduct rules, merger mania, so long loyalty, relationship management, what do clients really, really want and uncomfortable bedfellows.
Let me know if you would like a copy of the materials.
