One of the best ways for litigation lawyers to generate more clients is by offering a liability audit service.
Most advice that’s given to litigators when it comes to new business generation tends to focus on general relationship building. And while relationship building is good – it’s the type of relationship building you are doing that will determine how successful you will be in winning new work.
Focus on the client commercial objective of avoiding litigation
I recommend litigators focusing on offering services which meet the commercial objectives of clients before they face litigation. This strategy aligns with what law firm clients are seeking when it comes to what they want from their law firms – knowing their business (here, helping them avoid litigation). This also places litigators in front of the client long before litigation arises, thereby uniquely distinguishing you among your competitor firms.
What is a liability audit?
A liability audit is much like what it sounds like. It sends litigators into a company to analyze potential liability risks in a specific jurisdiction(s) – either before a company expands into that jurisdiction – or while the company is already doing business there. This service is hugely beneficial to companies – providing them with some degree of certainty about potential risk. Allowing them to ameliorate risk before they might be exposed to it. And saving the time and money associated with costly and unnecessary litigation.
Why liability audits are ideal business development tools
The advantage for litigation law firms in offering this service is that it permits the law firm to establish a strong, commercially focused relationship with the client company around advancing their commercial objectives. The company will be delighted a law firm is thinking of their business interests as a priority and is likely to award not only its’ litigation work – but probably other legal work – to such a business-savvy law firm.
Liability audits are particularly useful for business development purposes when a law firm is focusing on companies about to enter their jurisdiction, or while still contemplating entering their jurisdiction. They can also, however, be very useful for companies already doing business in your jurisdiction, as often these liability audits are not offered by law firms and therefore many companies are not as prepared as they could be for the prospect of litigation. Your service will help them become prepared or avoid the litigation altogether.
Focus on client companies and ideal potential referral sources
In addition to researching and contacting companies that are ideal clients for this services, it’s also important to build relationships with ideal referral sources of this work — including chambers of commerce, trade and investment facilitation organizations, other law firms and corporate advisors outside your jurisdiction — or those law firms and professional services firms who are in your jurisdiction — but don’t offer litigation services.
Utilize client-centric fixed-fees
I also recommend liability audit services be offered on a flat fee basis, wherever possible. This will further demonstrate your firms’ commitment to your client’s commercial objectives via price transparency and reasonableness – as well as your commitment to optimization of service delivery.
I’ve successfully helped elite law firm litigation practitioners develop new business in international markets around offering liability audit services to multinational corporations. If you would like to learn how to successfully develop, offer and secure new work related to liability audit service -– contact me via the form below to arrange a time for a discussion about how I might help you via one-on-one coaching.