A Super Rainmaker's Secrets to Winning and Losing the Business

Thumbnail image for iStock_000010089073XSmall.jpgSome of you may know that I am doing a series of interviews with super rainmakers. The first of those interviews was with super rainmaker John Yates, Partner in Charge of the Technology Practice at Morris, Manning & Martin, LLP. The intervew was amazing and was filled with so much good advice about practice building that it was very difficult to edit it down to one short article. Instead, I have organized John's advice into a series of articles on specific topics. The second of those articles has just been published in the Daily Report. We've also got a video excerpt on my website that does a good job of summarizing John's main points on winning and losing business.

Until next time,

Robin

 

Robin, should I join the Chamber to promote my practice?

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The short answer is maybe. The Chamber might be the right organization for building your business or it could be wrong for you but exactly right for the lawyer down the hall.

Any organization you join must meet three important criteria:

  1. Is the organization aligned with your values?
  2. Does the membership reflect your target market?
  3. Does the organization provide opportunities to assume a leadership role?

The last question is especially important. Simply joining an organization that meets the first two criteria without becoming actively involved will significantly limit the value of your membership. A leadership role places you in the spotlight with the chance to show your skills and commitment to the success of the members. Whether you are a seasoned attorney or just starting out, plan on getting active right away in the organizations you choose. Volunteer for a committee and do more than you are asked. As you gain credibility, you will have the opportunity to increase your visibility, which can ultimately increase your profitability.

More on how to choose

One way to be sure you are targeting an organization that you can both serve and benefit from is to consider what organizations your best clients belong to. You might also consider community organizations, political groups, and groups that represent your religious affiliation. Emmet Bondurant, partner at Bondurant, Mixson and Elmore and recognized by the National Law Journal as one of America’s Top Ten Trial Lawyers told me when I was interviewing him for my book, Raising the Bar: Legendary Rainmakers Share Their Business Development Secrets that he chose one organization to join that was considered by some to be politically controversial but which was aligned with his philosophy and his practice and that has brought him much satisfaction and success.

So, should you join the Chamber? What do you think now? Will joining meet your goals? 

Until next time,

Robin

Robin, I hate networking events. How can I make them more effective?

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Great question, especially as we go into Fall and business gets back into full swing after Labor Day.

Make networking events more effective by becoming more discerning about which events to attend. Choose only those events and organizations for networking where your target clients are likely to be. Hopefully you have been looking carefully at your commitments and deciding which are the best use of your non-billable time.

Here are a few tips on how to make your next networking event pay bigger dividends. Start by making a plan. Ask yourself,

Who do I want to meet?

Hint: ten targets is a good number. Then ask yourself,

How can I make sure I meet my targets if they are in the room?

One excellent way is to get to your event early. Most attendees lose the advantage getting there early would give them. They leave work late, get caught in rush hour, and slide in just before the speaker starts talking. If it’s a dinner, they are stuck with the other seven or nine people at their table, eating rubber chicken and trying to catch contacts on the way out, after the event is over. This poor planning can be expensive, not just in the cost of the event but also in lost opportunities. If you get there early, you have already set yourself up to succeed. 

  • If the cocktail hour starts at 5:30, get there by 5:10 so you can meet the leaders of the organization and the planners of the event.
  • Peruse the nametag table and get ready to talk with any of the 10 from your list who will be in attendance. Standing near the nametag table can give you a chance to meet one or two of your key targeted people before the evening gets into full swing. 
  • At the meeting, you may also run into people you want to get to know better but who are not on your target list. Talk with them for a few minutes, but make a date for lunch or breakfast at another time. Then you will have time to develop a plan of action that will work for those individuals, and it won’t dilute your time spent at this particular event.  

One final reminder: Time is money so plan your time so every event you attend becomes an investment that yields a high return.

 Until next time,

 Robin

The definitive answer on asking for a Super Lawyers nomination? Don't do it!

Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for iStock_000008433156XSmall.jpgLast week I raised a reader’s question about how to turn down a request for a Super Lawyers or Legal Elites nomination he didn't want to give without damaging an otherwise good referral source. I asked for your thoughts and received this response directly from Super Lawyers.

Cindy Larsen, Director of Research and Editorial at Super Lawyers, a Thompson Reuters Service, explained the nomination process this way.

Super Lawyers sends an e-mail notification to lawyers reminding them when they are accepting nominations. In that email, they state the following:

“A word about "campaigning" i.e., soliciting votes for Super Lawyers: Don't do it. It's against the rules (and could result in your disqualification), it doesn't work, we can detect it and it doesn't reflect well on you or your firm. Besides, the nomination process is merely the first step in our multiphase methodology. You’re much better off making sure we have up-to-date information on your practice because our research department will review this information and consider it in the selection process.”

Ms. Larsen went on to explain that Super Lawyers tracks who votes for whom, and if they have evidence that a lawyer has campaigned for nominations they will disqualify the lawyer from consideration for that year. The nomination process is confidential so any lawyer soliciting nominations would never know whether or not he/she received those nominations.

The bottom line from Ms. Larsen: only nominate lawyers who are deserving of the designation. 

Thanks so much, Cindy for taking time to respond to our reader’s question.

Until next time,

Robin

Robin, how do I turn down a request for a Super Lawyers or Legal Ethics nomination I don't want to give without damaging an otherwise good referral source?

iStock_000012237157XSmall.jpgHave you been asked to nominate someone for Super Lawyers, Legal Elites or some other high profile designation? What if it's someone you don't want to nominate? Or, what if the person tells you he (or she) will reciprocate on your behalf? And, what if that person is a really good referral source?

That was the scenario a client asked me about last week. It’s a tough one and there are no easy answers so I am throwing this question open for discussion.

Have you found yourself in a similar situation? How did you handle it? What happened? What resources, if any, did you use to help you solve the problem? Would you respond differently if you had the chance?

Until next time,

Robin

Robin, who owns my LinkedIn connections if I leave my firm?

According to a recent online article on LinkedIn account ownership by British solicitor Michael Simkins, this is a new area that the legal profession will be forced to handle in the very near future. (You can read the full article here.)

The Issue

The question is whether the employer or the employee is entitled to control an employee’s LinkedIn account. Simkins writes that, “Client or contact details are only capable of being ‘owned’ if the employer can demonstrate that they amount to confidential information.”

English courts, Simkins says, have ruled in the past that information in Outlook address books amount to information databases and do indeed belong to employers. Since LinkedIn is essentially a web-based database, he believes it is likely that courts may rule on that in a similar fashion.

To my knowledge, no U.S. cases have been brought before the courts relating to LinkedIn -- so far.

iStock_000006889731XSmall.jpgMany companies are currently scrambling to include LinkedIn policies in their employee handbooks. Employees who have built extensive LinkedIn connections would be wise (but may not know) to consider negotiating terms relating to their online network before accepting employment.

Why is this issue important? Two reasons.

First, what does this mean for your own biz dev efforts? Can you take your connections with you if you leave your firm?

Second, with all these issues looming, social media law could become a whole new area of legal expertise (and opportunity for business development), if you are not already on it.

What is your firm doing about this issue? Do you have a policy on LinkedIn connections? Is this a new practice area you are developing? 

Until next time,

Robin

Robin, what can I do to build my practice in this economy?

Recently, I asked super rainmaker John YatesiStock_000010253878XSmall.jpg, partner in charge of the technology practice with Morris, Manning and Martin in Atlanta how the economy has changed his marketing efforts and how it has affected his focus and activities. This is what he told me--in his own words. (You can also watch a video excerpt of John's comments here.)

YATES: The economy has impacted us in several ways. First, it has caused us to be far more selective in where we spend our marketing dollars. What organizations are we going to participate in? Where are we going to spend our time and energy? We really have taken a look at marketing opportunities and said, “We can’t do everything; what will be most impactful.”

There are direct business development benefits from looking very closely at where we spend our marketing dollars. Most importantly, that has helped us to improve our ability to target the right business development opportunities.

Second, it has created an impetus on our part to develop efficiency tools. How can we be more efficient in delivering our services? That involves things like legal project management. It means sitting down and working with our colleagues on understanding budgets…understanding the whole billing process, making sure that the bill shows value add and that there’s a benefit to the client. The idea of sending a one sentence bill “for services rendered” wasn’t a good idea to begin with and certainly in the current environment it doesn’t work well.

In the business development arena, it’s important to be able to explain to a client that you are careful about their resources, that you are a good steward of their cash, and that you can also provide a unique value add. In the current economy, we also spend more time understanding our clients’ overall business needs. When we sign up a new client, we do a legal review of their current situation, and we try to understand their top legal and business priorities.

For example, their highest priority may be to find a qualified outside board member. If we can help them find an outside director, at no charge, that may be the highest and best use of our time. We can drive value to them by providing them with a board member -- somebody that may be a key player on their team. We may also be able to introduce them to a key prospect or strategic partner. These are actions we can take in the current environment that don’t cost them a nickel, but will begin to develop a closer affinity between our law firm and our clients.

How has the economy changed what you or your firm is doing?

Until next time,

Robin

Robin, should I be blogging?

Man with Question MarkWelcome to the new Raising the Bar blog. I’ll be answering your questions here and offering comments on topics that are relevant to your business development success so let's get started!

Clients often ask if they should be blogging. This is what I say about that.

Blogging requires both a real commitment to posting on a regular basis and to pushing out content that goes beyond serving your own PR goals. If you are ready to say yes to both, then you'll be sharing information and connections to others that can help them reach their objectives and help you reach yours, as well.

Could you be missing opportunities by not blogging? If your best work comes by word-of-mouth, then blogging (and other social media initiatives) expand the possibilities for that. Blogging can enhance your reputation, demonstrate professional competencies and build trust in you as an authority in your practice areas. It can also showcase you as self-serving and myopic, so check your motives before committing to a blog.

What should you do?

  • Study and follow other blogs.
  • Look for what’s common among the blogs you like.
  • Build a blog strategy around what you like and benefit from and then, use it.

But Robin, what about time?

Time is not an excuse unless you want it to be. Kevin O’Keefe (Real Lawyers Have Blogs) talks about that in his discussion of the new business bestseller, Rework. If you “don’t have enough time” it’s because you don’t want it enough.

Should you blog? Only if you want what blogging can do for you enough to do it right.

Do you have a question about business development? Ask it here and I'll answer in a future posting.

Until next time,

Robin

Change Is Coming

While we’ve been blogging over the last few months we have also been doing some deep work on improving our blog platform, look and content. That process is now complete. Look for the launch of our new blog hosted on the Lexblog platform coming soon.

In the meantime, keep up with social media tips by joining my LinkedIn group, Raising the Bar: Social Media Marketing for Lawyers and CPAs (and other professionals, too.) Send me an email at rhensley@raisingthebar.com and I will get back to you right away.

Our next LinkedIn 90-minute seminar will be held on August 18, 2010. Email me to register for "LinkedIn Secrets for Lawyers, CPAs, Financial Advisors and Other Professionals” taught by myself and Jeffrey Brathwaite aka JB, Raising the Bar's social media consultant. There will be a cocktail reception immediately following at the Peachtree Club overlooking Atlanta. The response to our first seminar was overwhelming. Again, attendance is extremely limited so contact me now if you want to know more.

Until next time…

Robin

7 Habits of the Highly Effective Rainmaker: Habit #7

Habit #7: Incorporate Systems For Staying In Touch Into Your Daily Routine

The best rainmakers know that relationships need care and feeding to grow. That’s why they build systems to stay in touch into their daily routine.

You probably already have a time management system for your day-to-day activities like keeping up with filing deadlines, court dates and other time-sensitive requirements. But what about your marketing plans? Do you have a system for managing those? Without one, rainmaking can quickly become a casualty.

Build a system of reminders

Staying in touch doesn’t have to be an overwhelming or even a time-consuming task. It just requires reminding yourself to do it. Start by categorizing your contacts into A, B and C lists.

A List: These are your trusted advisors. (See Habit #4 for more on that.) World-class rainmakers stay in touch with their trusted advisors at least monthly. That might mean scheduling a lunch, making a phone call, writing an email, personal note or remembering a birthday. Put that in your calendar prompt and treat it the same way you do your other important dates and times. Schedule your prompts so you have only one or two a day or week so you can easily keep up. Breaking these activities into small bites will make it easier to follow through and help you quickly establish new habits around these activities.

B List: These are good contacts that could evolve into A Listers. You just haven’t established as close a relationship with them yet. That’s why it is important to build them into your reminder system for at least a quarterly contact—perhaps for a birthday or other important occasion or milestone.

C List: This is your holiday card list-- good people to know who have not yet achieved B or even A List status. But holiday cards are not limited to traditional December greetings. One top Atlanta rainmaker uses Thanksgiving cards to set herself apart. While holiday cards are opportunities to create a handwritten message to friends and acquaintances you appreciate, sending those messages at Thanksgiving gives you more time to think about the personal note you will send. Your Thanksgiving card arrives before the December rush and your thoughtfulness will help you stand out. The secret is starting early. In fact, you could start that system today—well in advance of any last-minute scramble.

What are some of the ways you use now to stay in touch?

  • What activities have you found are best for helping you build and expand your business relationships?
  • What kind of results are you getting? Where is your time best spent?
  • How much time do you spend each day on staying in touch?