The Big Bad Wolf has been knocking at law firm doors for several years while lawyers are overlooking the six ways to accelerate new revenue. But let’s remember that Little Red Riding Hood feared the wolf at first. Then she walloped him. Future rainmakers can also kick the wolf of decreasing revenue by following some tried and true strategies.
In this ever-changing environment, as more pressure is placed on attorneys at all levels to grow new business, there is a lack of experience in searching for new clients, prospects and suspects. As well, in-house counsel have been forced by their boards and executives to get tougher and more demanding, and rightly so. More than one has stated that law firms have generally assumed that long-term relationships do not require additionally highlighted service levels.
It is here that Little Red Riding Hood can do some serious clawing. New opportunities are being created every day simply because competitors are falling down on the client-retention-job. Now, today, at this very moment are the times to market by overcoming client resistance and offering an innovative carrot or two.