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YouTube Friday:  Building a Law Business for Desirable Clients

Building a Law Practice around Desirable Clients

Keep the profitable customers – dropped the customers that aren’t.  That was a core theme of Patricia Seybold’s 2001 book titled The Customer Revolution.

Following this week’s posts on Porter’s Five Forces and the Future of Law, it seemed fitting to search for a Friday Share that matched this week’s trend. Digging through the archives on YouTube, we found one in a 2010 ABA Legal Rebel presentation by LexThink.1 founder Matt Homann titled: Building The Service-Centered Firm.

Like Ms. Seybold’s book, Mr. Homann advocates for “building a practice to serve only the best customers,” and he notes it’s not always “just those that pay you on time (but that’s a start).” He uses a fictional law firm client he refers to as “Stacey” to illustrate how to think about building a business in this way.

Mr. Homann said then – and it’s likely still true today – that clients are:

  • Facing too many choices in providers
  • Active in the online market conversation
  • Hyper-connected and subsequently distracted

To identify the clients a law firm wants he suggests developing “client commitments” a firm is willing to keep and identifying clients that find those commitments important.

The full video runs just about seven minutes and Mr. Homann’s energetic speaking style keeps the presentation moving along – LexThink style:

 

Photo credit:  Flickr via Creative Commons; CC 2.0

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About Frank Strong

Frank Strong
Frank Strong is the communications director with Business of Law Software Solutions (BLSS) a division of LexisNexis. In this capacity he directs communications strategy and execution in support of BLSS products including those for large law, small law and corporate counsel. With 15 years in experience in the marketing communications for the high-tech sector, Strong previously served as director of PR for Vocus, which develops marketing, PR and media monitoring software. He’s held multiple roles in PR both in-house with corporations, and has also endured the rigors of billable hours, having completed gigs at PR firms both large and small. A veteran with two deployments, Strong has concurrently served in uniform in reserve components of the military for 20 years, initially as an enlisted Marine and later as an Army officer. Strong holds a BA in Film and TV production from Worcester State University, an M.A. in Public Communication from American University, and an M.B.A. from Marymount University.