Slightly late in catching up with this snippet from the Lawyer. NatWest’s latest survey of UK law firms suggests that only 31% are happy to devote time to business development.
At a time when the profession is under multiple pressure from a recession, new technology and new market entrants, this does not bode well.
It is, however, not entirely surprising. There is the traditional measure of fees earned, which discourages spending time on other important issues. There is the idea that selling is a grubby activity. And for many lawyers, they do not know how to do it.
Obviously, the approach that will work for a Magic Circle firm may not be appropriate for Dewey Suham & Howe in the High Street. But in each case, appropriate training and coaching should prove effective.
Above all, make the time to do it, and to take the first step.