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Enduring Competitive Advantage – Do You Have One ?

Written by Allan Colman on .

Does your firm have an enduring competitive advantage? Number 3 in our 12 essential steps for accelerating revenue growth is all about strategy and how to gain clarity, focus and execution. You need to know:

  • What is developing with your competitors and market place?
  • How much time are you spending on the planning process?
  • What are the critical improvement areas most in need?
  • Have you pre-tested strategies?
  • What your OPSP, one page strategic plan, will accomplish in each 90 day period.
    • Purpose
    • Focus
    • Key objectives
    • Iniatives
    • Progress metrics.

More in next post.

Zombies and Business Development Leadership

Written by Allan Colman on .

ZOMBIES, STAMPEEDING HORSES, & the KING OF PRUSSIA

Business Development Leadership – Part I.

By Allan Colman

Marketing the Law Firm, March, 2016

 

If you were hoping I would define leadership for you, I can’t.  What we will cover includes zombies, stampeding horses and a former King of Prussia and how they fit in with the 6 primary elements of exceptional leadership.

In our book, the Crazy Impact of Leadership, Rick Justus points out that the most often overlooked leadership task is leaving a legacy for the organization – an impact for the future.  And he calls it “crazy” because most leadership programs and texts forget this key contribution of a real leader.  In fact, Steve Jobs described his goal, when Apple began, as building “insane new products.”

Now why can’t I define leadership for you?  I keep going to the well looking for a definition from the experts and here’s what I’ve found.

  1. In a recent backlogofbusiness blog, there was a great article about “Leading into the Future.” It addresses the everchanging business landscape, the need to train your teams for the future, keeping your workforce informed, being transparent, helping them to understand your vision and keeping your workforce fully engaged.

It sounded great until the blog page ended with a large advertisement:

“POTTY TRAIN YOUR DOG IN 6 DAYS.” – I won’t give you the author’s name.

  1. While continuing to search for a definition of leadership, I researched what others identified as major leadership keys.  One said –

“MAKE IT A STRONG HAPPY TEAM”

Another called for “Freedom Based Leadership”.  Reading the definition makes it sound like herding cats.

  1. Here’s another of my favorites, “SIMPLY FEEL GOOD ABOUT YOURSELF.”
  2. How about this one, “THINK OF YOURSELF AS BEING THE SUN,” quoting astronomer Kepler in her definition.
  3. I ended my search when coming across this quote from Jack Welch, GE’s former boss – ”KNOW THAT WEEDS BECOME DEAD WOOD.”

Is it any wonder I can’t define leadership?  But I can relate to you the components of exceptional leadership and how to leave your own Crazy Impact.  Through my work as a chief executive, speaker and advisor to managing partners, agency administrators, etc., here are the 6 skills that are each crucially linked in order to make an impact.  They are:

  • Leaders Listen
  • Leaders Make Decisions
  • Leaders Communicate
  • Leaders Hold People Accountable for Results
  • Leaders take risks

AND

  • Leaders Leave a Legacy.

The analogy most fitting is that of an orchestra leader.  “To be successful they must turn their backs on the audience.” (James Crook)  Think about attending a symphony orchestra performance, the experience of bringing a diverse group of instruments together.  Such a performance can serve as a reminder of how amazing things can result when various elements work together for one outcome.

But there is something bigger than you can take from the experience – an understanding of the importance of a strong leader.  Consider this, while an orchestra’s conductor does not play an instrument, she or he is arguably the most important member of the symphony.  After all, the conductor is responsible for ensuring that each player knows his or her part and for delivering a polished presentation to the audience.

Some professionals feel out of tune in their efforts to make decisions and have them implemented.  It is crucial to remember, however, that leadership is an highly focused activity that must be internally orchestrated.

You must decide which advice to take, determine which of the available tools and strategies will work, assign implementation tasks, hold people accountable, weigh the risks, and consider the impact on a future legacy.  These are the exceptional leadership tasks future posts will cover in detail.

But not to leave you guessing, Tom Ziglar refers to employees as “Zombies.”  We will put them all in context next time.

 

Allan Colman, Managing Partner of the Closers Group, is a speaker, author, business strategist and leadership advisor.  Reach him at www.closersgroup.com//[email protected]

 

“Business Unusual” – Firm Leadership and Revenue Growth

Written by Allan Colman on .

Firm leadership and revenue growth is the second of 12 essential practices to make your business unusual.  Ask your colleagues the following:

  • Describe the “client experience”;
  • Describe your current efforts to create sustainable revenue growth;
  • Describe your professional development program and diversity and inclusion efforts;
  • What has triggered clients cancelling relationships?
  • If there is a next level of growth, what does it look like?
  • What % of your colleagues cross market and market internally?
  • What are the 3 most important actions you or the firm take to bring value to your clients?
  • What 3 actions can you delegate or spend less time on?

The answers and solutions will come directly from what you hear!

Business Unusual — Do You Really Have a Brand?

Written by Allan Colman on .

To determine if your firm will have “business unusual”, ask your colleagues if you really have a “brand.”  There are 12 components to accelerating revenue growth and the first is your firm’s brand.  Learn if it has any traction at all by asking each professional the following questions:

  1. What industries/groups use your services now?
  2. Which do you enjoy working with?
  3. What % of your new business are from referrals and repeat clients?
  4. Do you still use an old bio?
  5. What are the only services you can offer to clients?
  6. How would you describe your current stage of revenue growth?
  7. If you were to ask, what would clients say about the value you bring to the table?
  8. External perceptions of the firm?  of you?
  9. Describe your firm’s culture

If you have true brand identity, you and the firm will have longevity!

Prevent Laterals – A Major 2018 Business Goal

Written by Allan Colman on .

Preventing laterals should be a major business goal for all law firms in 2018.  The survey we conducted did not receive enough responses to be publishable.  BUT, other than retaining clients and new client acquisition – duh!-, preventing laterals needs to be emphasized.

In today’s highly competitive market for gaining new business with in-house counsel, your attorneys with a significant book of business are prime targets.  Talk with them, make sure they are getting all of the support they say they need,   Understand they are indeed receiving calls from recruiters and many are already holding exploratory meetings.

Where firms make retaining laterals their number 1 business goal for 2018, retaining clients and new client acquisition will be following.

Why Clients Fire You

Written by Allan Colman on .

“Why clients fire you” is the title of an article written by our own Valerie Goodman back in May, 2016.  At a recent conference I was asked if I could repeat it for an unusual way to kick-off 2018.  It should be one of the first questions law firm management should be asking now.

In the Closers Group experience, lack of attention to client retention is a primary reason clients fire you.  When it comes to attorney marketing and business development the first step is to value and properly serve the clients you’ve worked so hard to get in the first place.  It is one of the simplest ways to accelerate business, wouldn’t you agree?

In Jay Abraham’s “Getting Everything You Can From Everything You’ve Got”, he cites many reasons why clients have become dissatisfied and have left even long standing relationships.  Think about clients who have left your firm.  Can you attribute any one of these reasons as a possible cause?  Our Client Satisfaction Survey found the following answers:

  • Lack of contact
  • Decisions made without authorization
  • Non-responsive
  • Failure to respond
  • Cost increases with no notification
  • Their internal situation changes.

Your new mantra should be CLARIFY – FOCUS – EXECUTE.

Survey: What Is Your Firm’s #1 Business Goal in 2018?

Written by Allan Colman on .

For our first 2018 U.S. and Canada LAW FIRM PRIORITIES SURVEY, please answer this 1 question. We will provide the results to our readers.[vc_raw_html]JTNDc2NyaXB0JTNFJTI4ZnVuY3Rpb24lMjh0JTJDZSUyQ3MlMkNuJTI5JTdCdmFyJTIwbyUyQ2ElMkNjJTNCdC5TTUNYJTNEdC5TTUNYJTdDJTdDJTVCJTVEJTJDZS5nZXRFbGVtZW50QnlJZCUyOG4lMjklN0MlN0MlMjhvJTNEZS5nZXRFbGVtZW50c0J5VGFnTmFtZSUyOHMlMjklMkNhJTNEbyU1Qm8ubGVuZ3RoLTElNUQlMkNjJTNEZS5jcmVhdGVFbGVtZW50JTI4cyUyOSUyQ2MudHlwZSUzRCUyMnRleHQlMkZqYXZhc2NyaXB0JTIyJTJDYy5hc3luYyUzRCUyMTAlMkNjLmlkJTNEbiUyQ2Muc3JjJTNEJTVCJTIyaHR0cHMlM0ElMjIlM0QlM0QlM0Rsb2NhdGlvbi5wcm90b2NvbCUzRiUyMmh0dHBzJTNBJTJGJTJGJTIyJTNBJTIyaHR0cCUzQSUyRiUyRiUyMiUyQyUyMndpZGdldC5zdXJ2ZXltb25rZXkuY29tJTJGY29sbGVjdCUyRndlYnNpdGUlMkZqcyUyRnRSYWlFVHFuTGdqNzU4aFRCYXpnZDI3T0RWNDhBZ18yQnptYVdtZFVBWUlvSlVFNGpLQmRzd285RW5Id3RMXzJGUGtGLmpzJTIyJTVELmpvaW4lMjglMjIlMjIlMjklMkNhLnBhcmVudE5vZGUuaW5zZXJ0QmVmb3JlJTI4YyUyQ2ElMjklMjklN0QlMjklMjh3aW5kb3clMkNkb2N1bWVudCUyQyUyMnNjcmlwdCUyMiUyQyUyMnNtY3gtc2RrJTIyJTI5JTNCJTNDJTJGc2NyaXB0JTNFJTNDYSUyMHN0eWxlJTNEJTIyZm9udCUzQSUyMDEycHglMjBIZWx2ZXRpY2ElMkMlMjBzYW5zLXNlcmlmJTNCJTIwY29sb3IlM0ElMjAlMjM5OTklM0IlMjB0ZXh0LWRlY29yYXRpb24lM0ElMjBub25lJTNCJTIyJTIwaHJlZiUzRGh0dHBzJTNBJTJGJTJGd3d3LnN1cnZleW1vbmtleS5jb20lM0UlMjBDcmVhdGUlMjB5b3VyJTIwb3duJTIwdXNlciUyMGZlZWRiYWNrJTIwc3VydmV5JTIwJTNDJTJGYSUzRQ==[/vc_raw_html][rs_space height=”50px”][vc_row cover=”no” fluid=”yes” padding=”pt-70 pb-70 pt-xs-50 pb-xs-50″ bgcolor=”#eaeaea”][vc_column width=”1/6″][rs_space height=”10px”][vc_column width=”2/3″]To talk for a few minutes about how the trends for 2018 might impact your firm, or a 30 minute assessment of your firm’s positioning, please contact us (if you prefer to call…).

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If You Chase 2 Rabbits, You Will Not Catch Either One !

Written by Allan Colman on .

In our business development advisories and workshops, we provide an alternative to this Russian Proverb, “If you chase 2 rabbits, you will not catch either one.”‘

You must know:

  • Six critical elements of exceptional leadership;
  • How to create sustainable revenue growth;
  • What it takes to build a strategic, competitive advantage;
  • Define and use your identity capital;
  • Improve your value and client experience;
  • Ensure your systems capture leadership’s Growth Objectives.

For a free, 30 minute consultation, contact us below:

“Chase Relationships, Not Work!”

Written by Allan Colman on .

“Chase relationships, not work” is a direct quote from a Lendingham Chalmers LLP. attorney. She recognizes that a large percent of new work comes from clients and referrals, some say as much as 50% per year. So build away!

You may ask what are the basic elements of building and keeping a relationship?

* Understand their business;

* Who are their top competitors?

* What new products or services are in development?

*Are there internal pressures your client must overcome?

*Think business value — their value needed.

So beyond knowing a birthday, their kids sports, their favorite vacation spot, build the business relationship with knowledge of their business – it is key to them.  For more, read Own the Zone,  available on our website.

Eat Lunch With the New Kids – New Business Development

Written by Allan Colman on .

More new business development clues from 55Words, “eat lunch with the new kids.”  Begin building relationships with the newer members of your firm, making them feel welcome and comfortable asking you for advice.

Other important clues include:

  •  Never eat lunch at your desk, if you can avoid it.
  • Know at least one good joke.
  • If you offer to help, don’t quit until the job is done.
  • And, the best way to get on your feet is to get off your ass!

Use this 3 post series to provide clarity, focus and execution for your new business developers.