Many lawyers perceive business development as complicated, sometimes overwhelming, maybe even intimidating, and as a result feel fear, anxiety, reluctance. Too often, this translates into avoidance. Let's simplify. To succeed at business development, you need only five things:
Within the next week or so, most of you will see your business socializing schedule ramp up and continue through the holiday season. Receptions and holiday parties hosted by your firm, clients and other business contacts. Many of you recognize it as an opportunity to meet and reconnect with lots of new people. Here's how to make it enjoyable and effective.
About this time each year, law industry publications are rife with advice about “holiday marketing.” The advice tends to be about gift-giving protocols and using social events to network and create relationships.
However, today’s legal environment requires more substantial analysis and strategy, a “Holiday Marketing 2.0” if you will. Here's how
Too many lawyers waste time networking at bar associations and other lawyer-groups. Yeah, I know, you're hoping that, if you form relationships with these other lawyers, they'll refer work to you. Intellectually, that's certainly a possibility. However, over the course of your career to date, what percentage of your business has actually been referred by other lawyers? Unless you're an outlier, it's not enough to justify the time invested.
Last week, I encouraged you to free up time for BD by delegating as much as possible, i.e., firing yourself from any job or task that can be performed by someone else. Today, let’s look at the second way to free up time: Time-shifting.
What does it take to acquire a book of business sufficient to make you financially- and professionally independent, safe from the vagaries of changes in firm policy or compensation decisions? It’s been almost ten years since hoping for the best worked at all. What does today’s tumultuous legal service market require? Here's your answer.
If you’ve been saying to yourself or your firm for any length of time, “I want to become a rainmaker,” but so far haven’t committed the time, effort, or (gasp!) some of your own money to get there, you’ve probably been using the wrong object noun. A more accurate noun would be rain-haver. Here's how to get yourself on a more solid track.
All experienced salespeople know that “I'll think about it” is usually either a polite "no" or a sign that Procrastination has ensnared another victim. The irony is that this universal bane is entirely the salesperson’s creation. Here's how to avoid it with a way that makes prospects comfortable and confident.
For as long as there have been sellers, there has been anxiety over closing. Closing is generally defined as the moment when a prospect or client decides to make the purchase -- in the case of lawyers, to engage you for a legal matter. This can be unnerving, especially for inexperienced sellers, as it exposes you to the risk of rejection by the prospect. As a result, it’s become feared as the make-or-break moment of truth in the sale.
Ironically, the “moment of truth” concept is the key to eliminating all the tension around concluding the sale -- for both buyer and seller.
If you’re in the minority who do plan business development every week, I applaud you. However, I’ll bet that you plan to perform activities rather than achieve outcomes. This is your basic To-Do list. While it’s better than nothing, it suffers from some serious shortcomings that make it hard for you to succeed. Here's what to do instead.
Networking: What to do when (gulp) someone is trying to disengage from a dead-end conversation with you!
Last week, I wrote about how to extricate yourself gracefully from unwelcome conversations at networking events. Here's how to recognize when we're the unwelcome conversation, and how to end it while preserving some semblance of dignity.
We’ve all found ourselves trapped in a dead-end conversation at a networking event. Someone drones on about a topic in which you have no interest. Or, it’s simply someone you don’t like. Or, there’s nothing wrong with the topic or the person, but you can’t spend that much time with any one person.
Here's how to escape without being rude.