Law Firms Archives - Page 40 of 45 - The BTI Consulting Group

Is $5,000 an Hour Next?

The bull market in high-end work makes hourly rates defy gravity.The dramatic increase in clients’ need for complex and bet-the-company work is bad for clients but downright awesome for law firm rates. The highest rate in the market now commands 2.9 times the average rate clients pay. Clients* give BTI…

Michael RynowecerMay 11, 2016

The Mad Clientist

How Many Law Firms Fail This Business Development Test?

Tom and Mark, two brothers who had worked for 26 years to build their company, reached a pinnacle moment. Their now substantial wealth was fully invested in the company. The brothers were reaching a point in their lives where they wanted to ensure the future financial security of their families.…

Michael RynowecerMay 4, 2016

The Mad Clientist

The 22 Law Firms Best at AFAs

Top legal decision makers identify 22 of the 650 law firms serving large and Fortune 1000 clients as absolutely best at developing and implementing alternative fee arrangements*, and shared 6 reasons these firms stand out:Partners have authority to enter into an AFA quickly. These partners do not have to wait…

Michael RynowecerApril 27, 2016

The Mad Clientist

AFAs Soar to an All-Time High

The votes are in. Clients are loving AFAs. And we’ve got the data* to show just how much:Alternative Fee Arrangements (AFAs) now account for $21.3 billion of outside counsel spending in 2015, up from $13.1 billion in 2013. AFAs are the biggest growth market around—registering a 19.8% compound annual growth…

Michael RynowecerApril 20, 2016

The Mad Clientist

The Real Disruptor Changing The Legal World

Partner compensation rules are being broken as we dismiss and explain away the money being thrown at top partners to lure them away from once untouchable firms—Quinn Emanuel grabs partners from Skadden, Kirkland grabs a top rainmaker from Winston & Strawn, and just last week Paul, Weiss picked Scott Barshay…

Michael RynowecerApril 13, 2016

The Mad Clientist

The Cost of Stealing a Major Client from the Largest Law Firms

First, big law said they want to crush you like a bug. Now they are putting their money where their fly swatter is.The largest 30 law firms in the world are spending substantially more of their marketing budgets on client development than all other law firms. Words are important here—client…

Michael RynowecerApril 6, 2016

The Mad Clientist

12 Steps to Charging Whatever You Want

The GC of a global giant shared this gem during a client feedback interview: “I have on my desk right now yet another invoice which will require interpreters and a Sherpa to decipher and see if I should pay.” 80.1%* of clients think like this GC—questioning the value of their…

Michael RynowecerMarch 9, 2016

The Mad Clientist

The Business Development Blind Spot

You may be overlooking the silent race for business few law firms ever see or pursue.Market leaders stay ahead of competitors by sniffing out client pain and removing the sources of discomfort from their clients’ lives on a continuing basis. Your ability to do this before everyone else offers you…

Michael RynowecerMarch 2, 2016

The Mad Clientist

How Sharing Your Deepest, Darkest Secrets Increases Your Billings

You are your own worst enemy when it comes to delivering superior value to your clients. And not because you don’t deliver it. The overwhelming majority of professionals tend to keep the substantial value they deliver a deep, dark secret.Meet Darren, and the secret at the heart of his relationship…

Michael RynowecerFebruary 24, 2016

The Mad Clientist

Sensitivity Lessons from Napoleon and Mark Twain

“Give me enough medals and I’ll win you any war.”Napoleon Bonaparte“I can live for two months on a good compliment.”Mark TwainNapoleon makes 3 key points: 1) Give recognition to those who help you get where you want to go; 2) Public recognition is exponentially more powerful than private; 3) Publicly…

Michael RynowecerFebruary 17, 2016