Business as usual is a phrase that typically denotes routine and conjures an image of the comfortable. Yet the unusual has become the usual, with firms acclimating to a tough economic culture everyone hoped would be quick to pass. In a recent Legal Sales and Service Organization report, Roberta Montafia, a legal marketing and business development consultant, said, “The pressure clients bring to bear is relentless as general counsel are under pressure to deliver more for less and expect their law firms to reduce costs and provide greater value.” In times of adversity, lawyers often fixate on either a state of denial or desperation. Some carry on, head buried in work, while others begin throwing darts at walls, tossing marketing materials out the door to any contact they have. Neither approach yields consistent results. So instead, let’s focus on the often unnoticed opportunity this environment has created.
In order to do so, it is critical that you first understand the climate and accept it for what it is. The power is in the hands of the buyer, and the buyers are not always the lawyers. Procurement agencies are making hiring decisions. Reverse auctions are on the rise. Alternative fee arrangements are being solicited in almost every request for proposal and pitch. The Association of Corporate Counsel’s Value Challenge foreshadowed this shift years ago, but many did not anticipate how quickly the change would take effect.
