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Developing the BD Dream Team

Recent research by Lexington Consultants reveals that as law firms progress through their lifecycle, it becomes imperative for them to refine their business development (BD) structures. This refinement includes a strategic adjustment in the profiles and expertise of their BD professionals, aligning with the evolving demands of the firm. Astonishingly, a significant majority—over 70%—of BD professionals express the presence of palpable tension between their teams and the majority of partners. This strained dynamic has, unfortunately, led to a concerning rate of turnover within the pool of BD talents.

Watch Lexington Consultants video-podcast series on Client Management and Development where Katie Dignan, Mari Cruz Taboada and Moray Mclaren explore the challenges that firms have internationally trying to coordinate and institutionalise their business development.

Are firms communicating the firm strategic clarity to the Business Development team to stop firefighting. Prioritising and identifying functions and agreeing expectations is crucial.

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