Law360, New York (August 25, 2016, 3:28 PM ET) — Law firm business development budgets have remained mostly flat since 2005 while growth in the market for legal services has slowed. This has increased the competition for new sources of legal work, and while most firms continue to hone their approaches to business development, many still find it challenging to evaluate their investments. By understanding four common reasons why law firm business development initiatives fail, we can more accurately define success, avoid pitfalls, and improve return on investment.
Undefined or Flawed Qualification Process
Many initiatives fail…