We help firms convert expertise into consistent client acquisition through focused practice development planning.
Under this section, we outline the activities that will assist the firm in the process of Practice Development.
Study of Credentials & Service Capabilities of the Firm
We study the service capabilities of the firm as the first step towards the commencement of the mandate. This includes the study of all printed material and online profiles of the Firm and the Partners.
Interaction with the Partners through Practice Development Questionnaire
The next step is to understand the vision, aspirations, and areas where the Firm intends to venture into through professionally crafted questionnaires and a set of questions that helps us in identifying the areas that need to be addressed.
Creation of Practice Development Plan
In this step, we create the overall Practice Development Strategy of the Firm, including the pitch that is required to be made and articulating what should Firm/Partners be projected as, in the fraternity.
Once this is identified, a detailed plan is crafted that contains micro-level steps as to the number of prospects to be approached each month, planned business trips, and identifying avenues from where the firm can be perceived as a thought leader (publishing of articles, participation in conferences, exploring personal contacts, etc.).
Establishing connect with Prospects on Behalf of the Firm
Under this step, we create lists of sectors, areas, and companies to be targeted as Prospective Clients.
This is followed by generating Leads of relevant industry sectors, practice areas, and foreign law firms.
We also help the Firm in relevant research in industry sectors e.g. automobile, technology, solar energy, nuclear energy, infrastructure, etc.
Wherever meetings and trips are finalized, we help the firm with Market Intelligence and preparation of Dossiers for meeting with Prospective Clients.
Mapping of Efforts & Follow-up
We also create a Mapping Sheet that will map all the details of which prospective clients were identified, which firms were shortlisted for contacting, and which events are being targeted to be participated in.
The Mapping Sheet would map extensive details like what is the mode of contact with the prospective clients, foreign firms, and event organizers, what should be the number of days for the next follow-up, reminders set in your system to ensure follow-up on the next date.
Other details captured in Mapping Sheet, which then serves as a database in itself are – Partner’s Offerings in the meetings, Dates of the Tour/Meeting(s), Lead Generated, Feedback, and Remarks.
- Helping you open doors, reinforce brands, and cement your reputation as a contender to earn business.
- Helping you research people and companies prior to a pitch or to identify leads.
- Reconnecting with past business associates/colleagues.
- Building new relationships with people who may influence potential customers.
- Increasing face-to-face networking effectiveness.
- Driving people to your website and Social Media.
- Following up on meetings with an invitation to connect on Social Media
Ready to elevate your law firm’s future?
A clear action plan is required to implement the business plan. The failure to move from planning to action is where most business plans fall down. It is, therefore, of critical importance to frame the activities which will be needed to achieve your objectives.
