New Business Management
The management of new business enquiries is one of the core elements a firm must control to deliver success. A firm which is unable to capture, track and trace their new business enquiries is weakened from a management and business development perspective.
This is often an area which is overlooked in many law firms. To ensure the firm captures, processes, manages, and converts as many new enquiries as possible, they must build a simple but robust front-end process.
At The Strategic Partner, we have helped multiple firms of all sizes to implement solutions that work for them and importantly, ensure that each firm is able to maximise new matter openings.
Our service includes the understanding, design and implementation of a solution that works for the firm. We do not seek to put in place complex systems and technology, but simplified solutions with quality processes and training that work and are proportionate to the type of law firm we are working with.
The average firm that we have worked with to focus on their new business capture and management have seen a 20% increase in new matter openings, without any additional marketing spend.
Law Firm Compliance
The capturing, processing, and converting of new business is not always as simple as it first seems.
With many law firms being SME, they often lack the resources, systems, and processes to deliver an effective solution that ensures every enquiry into the firm is fully processed. This is where we can help.
For larger law firms who have those resources, the solution may simply be to develop a robust process that focuses resources and processes to manage enquiries effectively.
Our New Business Management Services have been developed to enable firms to maximise every opportunity to capture and secure new instructions from clients who approach them and through doing so, increase their new business.
Our services involve working with a firm to understand their current approach to new business management, making effective changes and ensuring the future approach is robust and achieves maximum conversion of new clients.
Process and Training
This service provides the firm with a robust solution managed and processed by its own staff.
TSP works with the firm to understand the firm’s services, its clients and the way in which it generates captures and processes new business.
We will then work with the firm to implement a series of effective changes to deliver a robust solution that ensures each new enquiry is captured and processed effectively, so that the firm takes every opportunity presented to increase its new client/matter intake.
The service involves: –
- Identifying how the firm receives enquiries by considering its:
- Marketing and advertising strategy
- Understanding existing clients
- Establishing the repeat and recommended business ratios
- Understanding how much of the new business goes direct to fee earners
- Attending the firm to discuss with the relevant people the current process, to understand where the systems and processes may be falling short.
- Establish any budgetary or technology constraints.
- Making a series of recommendations and changes to processes, including the implementation of any system changes that are sensitive to budgetary constraints.
- Training the staff who are involved in the process from those that first engage with the clients through to fee earners where needed.
- All training is based on a ‘train the trainer’ basis so that the person in charge will be able to provide ongoing training and coaching.
- Putting in place effective monitoring to maintain the effectiveness of the process.
- Agreeing on appropriate management information.
- Ongoing monitoring, mentoring and management if required.
This is an intensive project which is performed over an agreed number of days, from discovery to implementation.
Our understanding of the legal industry and the variety of law firms within it, means that we ‘hit the ground running’ and are quickly up to speed, saving time and costs in the establishment of a solution and its final delivery.
For more information and to provide a quotation, we will require a short conversation to establish the size of the firm and the type of work processed and we will deliver a bespoke quotation to perform this project. You can call us on 0203 911 9710 email us firstname.lastname@example.org or make an online enquiry here.