February Edition 2023

38 • Having the right technology will be critical to compete for business and those who took the time to invest now have a competitive advantage • The way firms conduct business development has changed. During crisis clients seek stability and empathy and client service is now among the most important factors when hiring a law firm • Law firms, specifically domestic firms, are in greater need of expanding their International referral networks.The traditional methodof attending annual legal related conferences as the main source of international business development, which is tactical in nature. This is being replaced with other possibilities and perhaps for the first time, international business development is becoming much more strategical The legal sector has for the most part been stable, compared to many other industries, as legal work is needed during times of crisis, as they are needed during times of fulfillment. Due to this stability, marketing and business development must not be cut down, but kept at a constant pace in order to help the firm stand out in the market and lead. Global Business Development Trends Lee Aloni, VP Global Business Development In the mid-1940s, Winston Churchill is quoted as saying:” Never let a good crisis go to waste.” An inspiring quote after the most unimaginable challenges faced by yesterday’s generations. Today, faced with a different barrage of intense challenges, businesses must not merely confront the reality of where we are, but turn up the dial of creativity, innovation and lateral thinking to find business development opportunities that are not on standard roadmaps. In our daily business life, we are often guilty of not challenging the norm and taking the road most travelled. It seems like we aim to be satisfied with following standard procedures and protocols to achieve the best and fastest KPI’s as possible. It takes insight and courage to question the strategy, to challenge the status quo, and explore a whole new world of opportunities that are out there. However, in times of crisis, there is more boldness and opportunity for law firms and businesses to take new approaches.