Do any of these challenges sound familiar?
- Is your firm experiencing flat or declining revenue?
- Are key clients defecting or demanding ever-lower rates?
- Are new competitors invading your best markets?
- Are individual lawyer originations less than in previous years?
If so, our Total Revenue Program can help.
Our Total Revenue Program (TRP) maximizes revenue growth. Whereas, our Innovative Strategic Planning Process examines and addresses all aspects of the firm, the TRP focuses exclusively on revenue growth. We look for the best opportunities for growth, set targets, and develop a revenue plan to hit the targets. For this program to succeed, the plan must have a true buy-in from firm leaders and senior partners.
We do not take a cookie cutter approach to revenue growth. Our program takes into account each firm’s culture, key practice groups, top rainmakers, strengths, weaknesses, and markets.
Our program includes the following steps:
- Conduct Revenue Review. During this initial stage, we determine what’s hindering growth and look for new growth opportunities inside and outside of the firm.
- Develop Revenue Plan. With information from the revenue review, we develop a revenue growth plan. The plan includes short, medium, and long-term growth options. Each option contains specific steps, a timeline, and a budget.
Growth Plans Can Include Ways To:
- Improve Lawyer Performance. Improve your lawyer’s business development skills. Work with high performers and high potentials to take their efforts to the next level. Learn more.
- Optimize Practice Group Performance. Identify high-potential practice groups and help them hit the next level of growth. Learn more.
- Add Industry Groups. Start or optimize industry groups that offer the best opportunities for growth. Learn more.
- Grow Existing Clients. Identify high-potential clients and grow them in scope and depth. Implement client teams to work with your best clients. Learn more.
- Offer New Services. With results from the market analysis, offer new, high growth services.
- Add Lateral Lawyers. If needed, add new lawyers in high growth areas.
3. Execute Revenue Plan. We work closely with firm leaders, lawyers, and the marketing department to execute the plan. To succeed you must monitor results, build strong accountability, and modify the plan as needed.
- Short and long-term revenue growth.
- Renewed sense of urgency and commitment to growth.
- Reverse declining fees and defecting clients.
- Increase market share.