Archive for ‘Practice’
Spotting the Embezzler…
How Do You Set Your Goals?
A Moment of Time…
Keep Turnover Low
Are You Drowning in Closed Files?
Look at Your Compensation System
Produce a ‘Key Statistics Report’ Part 2
Know the Real Score: Survey Your Clients Regularly
The short opinion survey is one of the easiest, cheapest, and least used client development tools available to the law firm.
In a 1995 Harvard Business Review article entitled “Why Satisfied Clients Defect,” the authors pointed out the important distinction between satisfied clients and completely satisfied clients. In markets where competition was intense, they noted a tremendous difference between the loyalty of satisfied and completely satisfied customers. For instance, in the auto industry they found that even a slight drop from complete satisfaction resulted in an enormous drop in customer loyalty.
This phenomenon is not limited to manufactured products. It …
Produce a ‘Key Statistics’ Report
Most firms spend far too many hours and kill way too many trees producing reports which are rarely reviewed, month after month, for their lawyers . The reality is that, in order to successfully manage the financial health of the firm, you only need to get lawyers to look at exceptions to the norm, not the norm itself.
For example, for management purposes, while you look at all the firm’s receivables each month, the reports that you prepare for the lawyers do not need this level of detail. You only need to show the ones which are over a certain …