The quest to not only retain clients, but to acquire new work, can be daunting. It has been well-documented that the legal pie, from a relative perspective, is shrinking. The recent recession caused many companies to rethink their legal spending strategy. For example, some litigation that normally would have been fought through trial/appeal has more frequently been settled early or not even filed. Some deal work that typically would have been sent to outside counsel was kept in-house or may have not even been pursued if it was deemed too costly. These are but two examples of changes that may be harbingers of longer-term trends that are likely to have major impacts on law firms.
The battles, then, among law firms for work have thus taken on increased importance. As a result, many firms now have their own business development staffs, and lawyers often are given training in the art of pursuing work and developing client relationships, which are positive steps. Although many articles, books and programs have been devoted to business development many of which are quite useful this article aims to cut through all that material and will focus on five key tips to help increase your odds of landing that business that your firm is pursuing.
