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LMA Los Angeles, February 2011
Citation preview
Creating a sales culture:a discussion of law firm
business development and salesHans HaglundMike KrennAdam Stock
David Freeman
BACKGROUND
3
www.venturepipeline.com
4
www.venturepipeline.com
Agenda
Bootstrapping the process
Direct sales
Client teams, reviews & feedback
Tracking success
Other thoughts
BOOTSTRAPPING THE PROCESSWhat are the challenges?How do I get started?Who are our clients?What are our capabilities?
CHALLENGES
Marketing vs. business developmentCompensation modelsLimited resources
Who are our clients?
Client information
Who are our clients?
Competitive Intelligence
Business Trends
What services do we provide?
Services we provide
What services do we provide?
What services do we provide?
What services do we provide?
What services do we provide?
DIRECT SALES
What is the state of the industry?How do I get started?How do I pick targets?What tools do I use?What are the challenges?
Registered Direct and At-the-Market Equity Offerings:
Trends for Raising Capital in 2010
Private Equity Landscape:Trends and Developments to
Follow in 2010
European Restructurings - Distressed Debt and M&A Opportunities
An Executive Roundtable Featuring Leading Experts in Finance and Law
Getting into the marketplace
CLIENT TEAMS, REVIEWS & FEEDBACKWhat is the state of the industry?How do I get started?How do I pick targets?What tools do I use?What are the challenges?
Top 200 clients account for 60-85% of revenue
Typical distribution of revenues for top 200
0 200
Client reviews v. Client teams
Client Review
• 1-2 times/year• A review and
inspection process
• May turn into a client team
• About bringing full resources of the firm to the client
• Service oriented
Client Team
• 4-10 times/year• Pursuit process• Interdisciplinary
team• High growth
potential• Many contact
points• Pursuit oriented
There is no substitute for asking your clients
Every client has different specific needs:ResponsivenessBilling detail and formatsBudgets and summariesBench strengthBusiness referralsEducationEtc.
Find out what the needs are and address them
TRACKING SUCCESS
OTHER THOUGHTS