73: AFAs and Law Firm ‘Sales People’? Checking In with Geoff Frost of Bundurant
Both Offer Advantages for Litigators
Geoff Frost is the Director of Client Development at Bondurant Mixson & Elmore. He’s responsible for directing his firms business and professional development activities including structuring and pricing alternative fee arrangements and managing the firm’s corporate recoveries program.
Instead of teaching lawyers to sell – educate business developers on representing the firm.
Sales people unencumbered by the billable hour. Can confidently and competently represent the firm in the market.
Today business development is one of many other professionals in the legal ecosystem.
AFAs are not intended for a single instance and aren’t about one side making out much better than the other. Firms will do well on some – and not so well on others.
Clients should want a fee arrangement where the best lawyers are compensated above their hourly rate. Create an environment that rewards success and efficiency.
Legal business development can help relieve some of the pressure to bring work into the firm.
Bottom Line: Let lawyers practice law and business people practice business.