Premeditated Business Development

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A new trend is underway in law firm marketing: lawyers in smaller and mid-size firms are successfully luring away prize clients of large law firms by using what I call premeditated business development. Every business client already has a law firm, and during the recession, one successful way to prosper is to take advantage of weaknesses in the relationships that competing law firms have with their clients.

Veteran business development expert Larry Bodine outlines several approaches:

• Probe for weaknesses in relationships that other firms have.

• Target the clients that have been with another firm for less than one year.

• Target clients where the lawyer or the client is about to retire

• Target the clients of law firms where the profits per partner are going down and firms with partner defections.

Bodine adds a final note: A final note: premeditated business development works both ways. You can be sure that your very best clients are the targets of the hungry major law firms. Be certain that your own client relationships are solid.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Larry Bodine, The National Trial Lawyers Association | Attorney Advertising

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