In Parts One & Two of this blog series I talked about “The Tesco Law” threatening the commercial growth of Legal Firms, why clients might choose new entrants, and the likely fallout. Today I’m going to look at a solution that is proven to work.
THE SOLUTION
So, what is the solution for Law Firms looking to sharpen their sales capability?
The clear answer is training. Recently I talked to the Operations Director from a medium sized Law Firm (120 people) about this, and the indication was that there was lots of training, in many pertinent subject areas – except sales training. So, while we are teaching young lawyers systems, case management, procedures etc, we are neglecting to teach them to not only retain current clients but maximize the revenue generated from them.
We shouldn’t underestimate the importance of such training. This will enable your Firm to gain percentage points of revenue where others will be losing the same. Most importantly, you are safeguarding against the dreaded Tesco Law. We call this Commercial Awareness Training, or Client Experience Training.
We will not try to turn your lawyers into salespeople. Instead we provide them with a structure that enhances their commercial acumen – meaning greater revenues generated per partner – without masking their legal expertise.
This point is crucial – clients do not want, or need the “hard sell”. They need professional advice and care, delivered to them with sound interpersonal skills. At some stage they need an offer. And like every client from every industry, they need to like you, and trust you.
In our Commercial Awareness training Fee Earners will learn how to up-sell, how to cross-sell, how to account manage, how to persuade and how to influence.
BARRIERS TO TRAINING & HOW WE OVERCOME THEM
Whenever we talk to Law Firms, the first objection about training is time. Our training interventions minimise time spent away from the business but maximize the behavioural change in your people. We train in a few hours, not days.
The second barrier or objection we receive is around support. What is in place to ensure the training works, thrives and becomes a new cultural hallmark? At Natural Training we use video, on-going trainer communication and online learning to compliment the face-to-face training and ensure it is sustained.
MUCH MORE TO EXPLORE!
There is a lot more to talk about, but the message is simple: If Law Firms are to thrive in light of the Tesco Law, they must meet the new market place with gusto, rather than shrinking away. This means up-skilling Fee Earners in Commercial Awareness to secure more clients, more billings and a healthy future.
At Natural Training we are committed to helping Law Firms develop a commercial edge. Contact us today to find out more.
