Insourcing and Overlooked Business Development Opportunities
In an effort to cut overhead costs, many firms have begun to look into relocating support services out from their core cities and into less expensive suburbs. Rather than outsourcing these tasks to overseas firms, “insourcing” as it’s come to be called allows the firm to reduce costs while maintaining control. Most firms that have implemented this strategy have relocated their human resources or IT departments, accounting and finance, and even document review.
As a business development consultant, I can see the merits of moving some departments off-site; however I wonder how many of them are overlooking potential business development opportunities when they do.
If you choose to insource some of your firm’s services, encourage those professionals who make the move to become involved in their new community. Just as firm lawyers should make an effort to develop new business through community outreach, so should other firm personnel. Whether by providing pro bono services or serving on business or non-profit boards, these insourced members of your firm’s team can create the opportunity to generate new business.
By creating potential client relationships and increasing law selling opportunities, your firm can increase the value of the insourcing move even more.
