How SME law firms can drive organic growth
In episode 14 of Osprey Approach’s Empowering Law Firm Leaders podcast, Joanna Gaudoin, managing director of Inside Out Image, joined Amy Bruce, marketing director at Osprey, to share her insights on how law firms can accelerate their business development skills to drive organic growth.
During the conversation, Joanna, an expert in professional relationships and business development (BD), offers advice on how firms can build effective BD strategies, overcome common sales challenges, and create a culture that supports growth.
This conversation covers:
- Essential characteristics of a successful law firm leader
- Best practice for effective BD
- Skills to network effectively
- How to leverage existing relationships
- Maintaining a business development culture.
Essential characteristics of successful law firm leaders
Joanna shares three essential characteristics that are crucial for being a successful leader in a law firm:
Vision for the firm: Joanna recommends considering: “Who do we want to be? Who do we want to serve in the market? How are we going to stand out?” It’s important to have a clear vision and strategy that is communicated effectively to the entire firm.
Recruiting and developing the right people: Joanna says it’s important to ensure that you’re recruiting lawyers who can help you deliver against your vision. “Consider hiring individuals who not only have the necessary technical skills but also align with the firm’s culture and values. Investing in their development is crucial for their growth and the firm’s success.”
Passion for client service: “Be absolutely passionate about the focus on your clients. Because if you haven’t got clients that buy into you, that are loyal to you, that refer other people and feel really happy about your service, you haven’t got a great basis for a business.”
Business development: five best practices
There are several common challenges that law firms face in business development, including knowing where to start and how to allocate time and resources effectively.
Joanna recommends the following steps:
- Establish a clear vision and strategy — and communicate it effectively to all members of the firm to ensure alignment and focus.
- Engage all lawyers in business development — vital for the firm’s growth is a broader base of lawyers engaged in these efforts, rather than a small subset – usually partners.
- Foster collaboration between marketing and fee earners — essential for successful BD. Marketing can support lawyers, and lawyers can feed back into marketing what they’re seeing out in the market. Marketing efforts should align with the firm’s overall strategy.
- Maintain accountability and momentum — crucial for long-term success. Successful strategies include accountability at the departmental level by regularly reviewing business development activities and their outcomes.
- Utilise a variety of business development activities — this shouldn’t be a one size fits all and might include a blend of networking, content marketing and ways to foster existing client relationships for the long term.
Effective networking skills
From active listening to establishing personal connections, effective networking is a crucial skill for lawyers looking to enhance their business development efforts. Find out more about the key skills needed to achieve your firm’s BD goals here.
How strategic BD can drive growth
Joanna believes that law firms must adopt a strategic approach to BD to thrive in the modern legal landscape. By building a clear vision and strategy, recruiting and developing the right people, focusing on client service, and overcoming common challenges, firms can drive organic growth and achieve long-term success.
Watch the full interview with Joanna Gaudoin now to discover more advice and guidance on driving organic growth. You’ll also hear Joanna’s exclusive advice on leveraging existing client relationships to boost new business.
