Many lawyers struggle to learn business development skills, in no small part because they don’t embrace the need to get better at it. Try some of these self-talk techniques to help you overcome inertia and get started.
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In a 2015 Altman Weil survey, 65% of respondents said equity partners weren’t busy enough, and 79% said non-equity partners were insufficiently busy. As a result, for the last 18 months, law firms have been laying off lawyers, counseling partners to leave and closing entire offices. Here's what that means to you, and how to protect yourself.
A third of lateral partner candidates deliver less than half their promised book of business, and only 54% of laterals hired in the previous five years were regarded as a ‘break-even’ on the firm’s investment.” Here's what firms should do to turn things around, and what laterals should insist on before moving.
Don't hitch your wagon to specific legal knowledge or skills alone. All knowledge ages and eventually obsoletes itself, and there are countless lawyers offering similar knowledge and skills, making that a race to the bottom. Many desirable clients are looking for a counselor who facilitates the answer instead of always providing it. Here's how and why.
The biggest marketing and sales obstacle lawyers face is unconscious incompetence. It means you don't know what you don't know. That's one of the four stages of competence. This matters because one characteristic of that stage is overconfidence about your innate ability to generate business, based on ignorance of what it actually takes to generate business. If you want to learn a new skill, get some professional help.