[Note: This article is being published with the permission of our client, Morgan Lewis & Bockius.] Two of our previous posts on collaboration, True Collaboration Drives Profitability and Collaboration: The Next Law Firm Frontier, discussed the benefits of collaborative cultures and approaches to client representation. But both articles also alluded to the reasons why collaboration…
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Collaboration in the workplace is widely recognized as an important success factor in the most effective organizations. It is necessary in order to build and share knowledge, accelerate innovation, break down silos and facilitate connectivity. A recent Harvard study found that managers and employees now spend 50% or more time in collaborative activities than they…
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Despite all the talk about clients not being loyal anymore and only being interested in pushing matters to the least expensive “bidder,” many things about relationships still matter to most clients. In our last blog post Sales and Service: The Loyal Client Lifecycle, we touched upon some of the ways to nurture and advance client relationships….
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Law firms continue to compete aggressively for new clients and new work from existing clients. We know from recent surveys by Citi and Altman Weil that client demand for outside lawyers remained flat in 2016 and is expected to do so again in 2017. With the same or less work to go around, this means…
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This article was written by Tory Ruttenberg, who is a RainMaking Oasis Affiliate Consultant and President of Ruttenberg Consulting, LLC and was originally published in PD Quarterly magazine. It is reprinted here with permission from both. Due to the unique nature of law firms, succession planning can be more difficult for them than for other…
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Law firms are facing stiff competition when it comes to holding onto their clients, much less gaining market share. Given the flat growth in available legal work, law firms have been having to “steal” work from other firms to gain share. BTI Consulting’s Market Outlook and Client Service Review 2017 reports that while legal spending…
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In 2017, lawyers will be under more pressure than ever to succeed at business development, and yet many of them remain skeptical about whether or not CMOs, CBDOs and their teams really add value. Even at firms with the most enlightened partners in leadership roles, the role and effectiveness of business development and marketing is…
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