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Table of contents<\/h2>\n\n- Preparing for the Pitch Meeting<\/a><\/li>\n
- Preparing Your Message<\/a><\/li>\n
- Running the Meeting<\/a><\/li>\n
- Asking for Business<\/a><\/li>\n
- Unique Situations, Different Expectations<\/a><\/li>\n
- Following Up After the Pitch Meeting<\/a><\/li>\n
- Subscribe to Attorney at Work<\/a><\/li>\n<\/ul>\n<\/div>\n
Over the years, I\u2019ve conducted thousands of client interviews to gather feedback on outside counsel. The discussion frequently turns to how a firm first started representing the client, leading to stories about what lawyers do well \u2014 or not so well \u2014 when pitching for business<\/a>. <\/p>\nLet\u2019s assume you have an opportunity to meet with a prospective client to discuss helping with a company\u2019s legal work. Here are do\u2019s and don\u2019ts to make the most of your opportunity.<\/p>\n
Preparing for the Pitch Meeting<\/h2>\n\n- Don\u2019t go to meetings unprepared.<\/strong> One client told me a law firm showed up and didn\u2019t know the company was privately held. Do your homework on the entity, the decision-makers, the people who\u2019ll be interviewing, your firm\u2019s relationships with the entity, your firm\u2019s relevant experience, the company\u2019s use of outside counsel, and many other items.<\/li>\n
- Do make sure you understand what the client expects.<\/strong> Another client said they were expecting a formal presentation but the law firm hadn\u2019t prepared one. You should clarify the meeting format, time constraints, participants and the like.<\/li>\n
- Do be creative in preparing materials.<\/strong> Clients don\u2019t want a thick folder with information on multiple practice groups or dozens of lawyers. If you develop materials in advance, customize them with an eye to why counsel is being sought. One firm came to the pitch meeting prepared to discuss three different scenarios for handling the matter. Another firm, meeting with a craft beer manufacturer, brought coasters with its lawyers\u2019 pictures and bios on them.<\/li>\n
- Do assemble the right team.<\/strong> One firm was selected because it had the only team that included an associate. Do you have the right expertise, personalities, geography and seniority represented in the room? At the same time, try not to outnumber the company representatives.<\/li>\n<\/ul>\n
Preparing Your Message<\/h2>\n\n- Do focus on what makes you different from other potential counsel candidates.<\/strong> Lawyers often make the mistake of talking about credentials or expertise that can be found on the firm\u2019s website. You can usually assume the prospect already thinks you are qualified, or you wouldn\u2019t be in the meeting. So what makes you the best choice for the job? (Read: \u201cWhat\u2019s Your Law Practice\u2019s Value Proposition?<\/a>\u201c)<\/li>\n
- Don\u2019t focus on process.<\/strong> Clients are more interested in outcomes. How have you helped similar clients or companies in the same industry? If possible, quantify your results.<\/li>\n
- Do tell stories.<\/strong> Clients appreciate hearing about specific scenarios and case studies duringlaw firm pitch meetings(obviously, without breaching client confidentiality).<\/li>\n<\/ul>\n
Running the Meeting<\/h2>\n\n- When running meetings, don\u2019t talk too much.<\/strong> Even if this is a \u201cbeauty contest,\u201d you should engage the prospect, make the meeting interactive and listen more than you talk. Kick off the meeting with a question or two (for example, to test your assumptions). If you make a formal presentation, keep it short; reserve most of the time for questions and discussion. The more the prospect talks, the better your chances of getting the work. (Read: \u201cAsk, Don\u2019t Tell: The Power of Questions in Winning New Business<\/a>.\u201d)<\/li>\n
- Do ask informed questions.<\/strong> In addition to showing off the research you did or your understanding of the situation, you may learn something useful for your discussion, such as company imperatives.<\/li>\n
- Don\u2019t be inflexible.<\/strong> One client told a story about representatives of a firm who showed up with a PowerPoint presentation. When the prospect said they would prefer just to have a more informal conversation, the lawyers insisted on giving their spiel. Needless to say, the firm did not get the work.<\/li>\n
- Do be enthusiastic.<\/strong> Show genuine interest in getting the assignment.<\/li>\n
- Do respect the prospect\u2019s time.<\/strong> Clarify at the beginning of the meeting how much time they have blocked out and keep a close eye on the clock.<\/li>\n
- Don\u2019t focus on what you need or want. Focus on what the prospect needs or wants.<\/strong> And address objections head-on. If they think your firm is too small or too expensive, be prepared to respond.<\/li>\n
- Do add value to the meeting.<\/strong> Try to incorporate a little free advice so the prospect can start to sense what it would be like to work with you. The most effective law firm pitch meetings are when the lawyers start acting like they already have the engagement.<\/li>\n<\/ul>\n
Asking for Business<\/h2>\n\n- Don\u2019t be overly ambitious.<\/strong> In some cases, you may be wiser vying for a particular substantive area or geographic location. You don\u2019t need to get all the work; you just need one file to turn the prospect into a client.<\/li>\n
- Do ask for \u201cadvances.\u201d<\/strong> For example, \u201cCan we take a closer look at the issue for you?\u201d Or, \u201cCould we follow up with Ron to learn a little more about the situation?\u201d<\/li>\n
- Don\u2019t have a hidden agenda.<\/strong> Be honest about your desires and intentions.<\/li>\n
- Do be careful.<\/strong> If you can\u2019t realistically handle the work or part of the work, say so. You will build enormous credibility.<\/li>\n
- Do be opportunistic.<\/strong> If you hear decision triggers \u2014 such as \u201cHow long would this take?\u201d and \u201cWhen could you get started?\u201d or \u201cHow much would this cost?\u201d \u2014 those are good signs that the prospect is interested and you should move quickly to address the questions.<\/li>\n<\/ul>\n
Unique Situations, Different Expectations<\/h2>\n
Of course, every situation is unique and prospects have different criteria for outside counsel and different expectations for pitch meetings. However, if you take the time to focus on the target and the target\u2019s needs instead of your own, you will vastly increase your odds of coming home with business.<\/p>\n
Following Up After the Pitch Meeting<\/h2>\n
The pitch meeting isn\u2019t the end of the game, of course. Here are Sally Schmidt;s tips on following up and winning the business.<\/p>\n
Overcoming Client Inertia: The Real Reason You Aren\u2019t Closing New Business<\/a><\/p>\nFollowing Up Naturally: Tips for Nurturing Business Relationships<\/a><\/p>\nEarning a Client\u2019s Trust: What It Takes<\/a><\/p>\n
Over the years, I\u2019ve conducted thousands of client interviews to gather feedback on outside counsel. The discussion frequently turns to how a firm first started representing the client, leading to stories about what lawyers do well \u2014 or not so well \u2014 when pitching for business<\/a>. <\/p>\n Let\u2019s assume you have an opportunity to meet with a prospective client to discuss helping with a company\u2019s legal work. Here are do\u2019s and don\u2019ts to make the most of your opportunity.<\/p>\n Of course, every situation is unique and prospects have different criteria for outside counsel and different expectations for pitch meetings. However, if you take the time to focus on the target and the target\u2019s needs instead of your own, you will vastly increase your odds of coming home with business.<\/p>\n The pitch meeting isn\u2019t the end of the game, of course. Here are Sally Schmidt;s tips on following up and winning the business.<\/p>\n Overcoming Client Inertia: The Real Reason You Aren\u2019t Closing New Business<\/a><\/p>\n Following Up Naturally: Tips for Nurturing Business Relationships<\/a><\/p>\n Earning a Client\u2019s Trust: What It Takes<\/a><\/p>\nPreparing for the Pitch Meeting<\/h2>\n
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Preparing Your Message<\/h2>\n
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Running the Meeting<\/h2>\n
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Asking for Business<\/h2>\n
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Unique Situations, Different Expectations<\/h2>\n
Following Up After the Pitch Meeting<\/h2>\n
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