Raising the Bar Blog - Developing high achievers into world class rainmakers

We talk alot here about the value of a written plan for achieving business development goals. If you are part of your firm's management team and just beginning your 2012 plan, then here's another dimension to add to the planning process.

As an Office Managing Partner, you may feel far removed from the day-to-day requirements of making rain. It's often much easier to put that part of your responsibilities at the bottom of your to-do list, assuming it even makes the list. But you are the leader and leading by example will help your whole team meet its individual and collective goals.

It's never too late to get back in the game.

Motivation and inspiration are at the heart of a re-booted rainmaking effort. "Motivation and inspiration energize people," says Harvard Business School professor and authority on leadership and change, John P. Kotter. "Satisfying the need for achievement, sense of belonging, recognition, self-esteem, a feeling of control over one's life and the ability to live up to one's ideals, elicit a powerful response," he says. Motivation and inspiration start with communicating a clear (and optimistic) vision for the future and setting doable goals. (Here comes that written plan again.)

Thank you to the New York Law Journal for helping us shine a light on the numerous and daunting challenges OMPs face in staying motivated and on course in today's environment while still making it rain. "Firms can't just rely on reputation and referrals, anymore. They have to make business development a priority and help their team hone client development and management skills," says David Schaefer, New York Office Managing Partner at Loeb & Loeb LLP.

The good news is that it is never too late to get back in the game. Read the full article, "Making It Rain: How to Develop and Motivate Office Managing Partners" here but hurry, it will be posted for today only.

Until next time,

Robin

I just got back from my annual sabbatical--the two weeks I take every year to rest, renew and rethink my business and my life. It's two weeks I look forward to every year and by the time I get it, I can really use it! However, I have to confess that those two weeks aren't really free of work. In fact, thinking about my work and my life is very hard work indeed. And while it's great to pretend that I am really away, the truth is it's a vacation in name only. I'm not complaining. Those two weeks gazing at the ocean are exactly what I need to let fresh air and fresh ideas in. The end of those two weeks mark the beginning of the new year for me. I come back charged up and ready to go.

Now, the idea of a sabbatical is different from a vacation. It's more a time to explore special interests or achieve specific goals. (In my case, planning the next twelve months of Me, Inc.) Many firms are adopting the idea of extended paid leave but let's face it, you probably wouldn't take it even if you could--especially now when things aren't going well in the business world and your absence might send the wrong message but, guess what? Now is probably the best time to withdraw and re-energize. If there's one thing we all need right now is fresh ideas and renewed vitality for the challenges we are facing.

So, have you thought about slipping away to gather your forces for the future you want to build? And if so, where will you go and what will you do to get the most from your time away? Tell us about it. Your story might be just what someone else needs to hear.

If you need more encouragement, Human Capital League has a great article on the subject. "4 Reasons Your Boss Should Take A Vacation" by Tanveer Naseer makes a strong argument for taking time off. Just change "your boss" to you! 

Until next time,

Robin

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In this blog post, Seth Godin makes some interesting points about the value of self-direction and how much of our own potential may be sacrificed by turning our motivation over to those we pay to train, coach or otherwise force us to get up and go. I think that may be true up to a point, but I disagree with painting all buyers of such services with the same brush.

It has been my experience that often what clients need is someone who simply knows more about how to get what they want than they do. Developing highly motivated lawyers, CPAs and other service providers who are at the top of their game into world-class rainmakers is part planning and part educating. These folks haven't turned their motivation over to someone else. They are looking instead for a partner, a process and a plan. Unfortunately, business development isn't something they learn in school. A coach provides that missing piece in their development and gives them an edge in achieving their goals inside and outside their practice specialty. Indeed, there are those who cede their motivation to others, but when it comes to business development coaching, only self-directed effort working a personal business development plan will produce results.

Until next time,

Robin

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Raising the Bar is pleased to bring you a new business development workshop designed especially for CPAs, lawyers, financial advisors and other professional service providers led by John C. Yates, Esq., chair of Morris, Manning & Martin's Technology Practice and a member of the firm's Management Committee and Business Development Coach Robin Hensley.

The 60-minute program will show attendees how to improve their rainmaking abilities using the 10 rainmaking secrets developed and used so successfully by super rainmaker John Yates. Topics include:

• How to build a positive and lasting reputation
• How to sell value-added services that will set you and your firm apart
• How to learn from rejection and relish it
• How to create the right mission statement to support your business development
• Why the odds for success are in your favor

Tuesday, May 17, 2011

Location: 999 Peachtree Street NE, Atlanta 30309

Workshop (Conference Room 550):

11:30 a.m. - Networking and Box Lunch

12:00 p.m. - Presentation

All participants will receive a complimentary copy of the eBook, Super Rainmaking: 10 Secrets To Raising the Bar In Your Professional Practice ($29.95 value) by John C. Yates, Esq. and Robin M. Hensley, a box lunch, an opportunity to network and complimentary parking.

Early Bird Registration: $149 through May 6th, 2011

Late Registration: $249

Refund Policy: NO REFUNDS WILL BE GIVEN FOR THIS EVENT

REGISTER HERE

Hope to see you in Atlanta!

Until next time,

Robin

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Are reports of sluggish demand for legal services keeping you from working your plan? A recent article by Hildebrandt Baker Robbins and the Citi Private Bank Law Firm Group on the Law Marketing Portal reports that the outlook continues to be troubling. (You can read the complete article and download the full report here.)

Contrary to these predictions, clients report that corporate and corporate M&A work is back up in medium and large firm environments—not to their former levels but, in their words, “very respectable levels.”

Those folks that have worked their marketing plan despite the current climate are seeing the results of their labors.  They kept in touch with their clients and prospective clients when business was down. Now those clients and prospects are thinking of them first when they are ready to move their deals forward.

It can be discouraging to follow up over and over with no result but consistency and patience will benefit you if you do. Hopefully, we will see improvement in other areas of legal practice soon. In the meantime, don’t give up. Instead, keep working your plan and be ready when the phone rings.

All the best,

Robin

Raising the Bar in Your Law Practice: Ten Ways to Change Your Results Right Now 

Here’s something to boost your business in 2011 – Pass this gift on to your colleagues, too!

Attorney Lance LoRusso and I are offering you and your colleagues a complimentary copy of our eBook, Raising the Bar in Your Law Practice: Ten Ways to Change Your Results Right Now.  Get your free copy through this link: http://www.raisingthebar.com. Click on Bookstore to Request your FREE copy. Robin will send you this free eBook, her latest publication.     

Order your free eBook now, as 3,500 copies have been reserved for this special offer. After that the price returns to $29.95. This offer extends to your friends and business associates, so feel free to pass this email on to them.

About the eBook:

• From setting goals to building relationships, Robin shares her Ten Ways to Change Your Results Right Now to help you take your practice to a new level.
• Lance uses his legal expertise to address potential legal/ethical issues that may come to mind as you read our eBook. He also provides guidelines to ensure compliance with the Rules of Professional Conduct as listed by the Georgia Bar Association.

Lance and I hope that you, your friends and your professional peers will enjoy (and get results from) your copy of Raising the Bar in Your Law Practice: Ten Ways to Change Your Results Right Now. 

Happy New Year -- and here’s to More Rain in 2011!

Robin Hensley, Business Development Coach

www.raisingthebar.com

Lance J. LoRusso, Esq.

www.lorussolawfirm.com

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The following is an excerpt from a blog post from Kevin O’Keefe’s Real Lawyers Have Blogs from Monday, November 8. You can read the full post here.

In August 2009 the American Bar Association announced the formation of the ABA Commission on Ethics 20/20. The Commission was formed to review legal ethics rules and regulations in light of technological advances and globalization in the legal profession.

Over a year later, on September 20, 2010 the Commission issued a Paper announcing that the Commission was examining a number of legal ethics issues arising from lawyers’ use of technology, including issues arising from Internet-based client development tools.

The goal of the Paper was twofold.

1. To describe several issues that the Commission has identified in this context.
2. To elicit comments by December 15, 2010 on possible approaches that the Commission is currently considering.

The Commission made clear that it was taking no positions in this Paper. The Commission merely wanted to elicit comments on the issues in order to facilitate the development of reports and proposals that the Commission plans to draft during the next two years.

That's it. A Commission. A Paper. No positions taken. Comments requested. We'll hear more in 2013.

Furthermore, neither the ABA nor the Commission have any authority to promulgate ethics rules governing lawyers behavior. That's the province of individual state bar associations and state supreme courts, depending on which governs lawyers in respective states.

Two years from now the Commission could suggest that the ABA's Model Rules of Professional Conduct be amended. Amendments which presumably would take a year or two for the ABA to adopt. Before any lawyer would be impacted by any such amendments, individual states would need to adopt the amended Model Rules.

Even if new ethics rules are passed regarding blogs, and that's no sure thing, we're likely looking at four or five years before we'll see them.

It's true that the Commission is examining lawyer's use of blogs. But the issues the Commission is considering relative to blogs are minimal. The proposed amendments relating to Blogs the Commission is considering are also minimal.

Even if there are ever amendments passed regarding lawyers use of blogs, and that's no sure thing, lawyers current use of blogs is not going to be impacted in any significant way. More on this point in an upcoming blog post.

Again, you can read the complete Lexblog posting here.

Until next time,

Robin

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A client told me recently about a very detailed email he had sent to a prospective client. He already had that person’s attention and was on the brink of setting a time to meet when he felt he should expand on his background—just to be sure his target understood all that he had to offer. He wrote several paragraphs filled with details and explanations of how he had successfully achieved many important results. He told me about it because he couldn’t understand why he never received a reply. The target had gone dark. His situation reminded me of the importance of understanding how email works and how it is different from paper communication.

First, let’s talk about what e-mail is and what it is not. E-mail is not the same as hard copy, according to Dawn-Michelle Baude, Ph.D. and author of The Executive Guide To E-Mail Correspondence. Dr. Baude explains the differences this way:

1. E-mail is designed to move or transact information as rapidly as possible, from the writer to the reader. It usually produces immediate action, often in the form of another e-mail. Hard copy, on the other hand, is designed for contemplation over time and does not necessarily move the reader to act. E-mail is a transaction; hard copy is a reflection.
2. Unlike hard copy, e-mail is more than rectangular. It appears in a window, with clearly defined edges. These edges focus reading in a way that is very different from the way we read hard copy. The edge of a piece of paper is not so insistent. It’s easier for the eye to lift, to wander, to reflect.
3. E-mail is boxed-in with multiple frames that relentlessly focus the eye on the text. Rigid borders confine the gaze and keep it on the words. The trapped-in quality of the text affects our expectation about the purpose and intent of reading. When we look at an e-mail message, we expect to receive information, right away. We get frustrated when we don’t get it.

Why is it important to see the e-mail page differently from hard copy? If you understand how e-mail information is seen and processed at a conscious and sub-conscious level, you can use that knowledge to create messages that are more likely to be read and acted upon. We’ll talk more about this in next week’s post. For now, just be aware that email communication is different and keep that in mind as you use it.

Until next time,

Robin

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Great question and a very simple answer—forget December holiday cards! No matter how much you spend on them, they will still end up as just another card in the pile.

I know you mean your holiday card to show your appreciation for your client’s trust in you and acknowledge the privilege given to you to serve that client’s needs. So, the best time of year to say thanks is…Thanksgiving!

Send a Thanksgiving card instead!

Thanksgiving is the perfect time to let your clients and contacts know how much you appreciate them. You'll be able to say thank you in a very personal way, and your card will arrive weeks before the annual holiday card crush. Your special message of thanks will stand out to your client in a memorable way--a month early. 

Now is the time to order your cards and get them ready for mail-out. They should be mailed at the post office no later than Wednesday, November 18, 2009. (That's just a month away!)

Make the most of this important business development tool and follow these simple tips:

• Print your recipient list on clear labels. (Run test labels first to check for changes of address or missing addresses. This takes time, but it is an excellent way to update your master database as well)
• Include a hand-written personal message in each card that sincerely expresses the unique importance of that client's relationship to you.
• Hand sign each card.
• Use stamps vs. machine postage.
• Time the mail-out so your cards will arrive the Friday before Thanksgiving week.
• Prepare a few cards every day so they will be ready in plenty of time to meet your mail-out schedule.

There are many on-line resources for Thanksgiving cards. Google “Thanksgiving cards” and you’ll find quite a selection.

The clock is ticking. Better get started!

All the best,

Robin

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The secret to becoming known as a thought leader is visibility.

You can begin building visibility in simple ways like leaving a comment on a subject matter blog or writing a letter to the editor of a publication that focuses on your expertise.

Take your visibility up a notch by creating a LinkedIn group like the one I started earlier this year (Raising the Bar: Social Media Strategies for Lawyers and CPAs that now boasts a membership of almost 1,000*).

Write an article that captures your expertise and point of view and then write another until you have created a body of work. You can pitch your articles to a subject or industry-specific publication or just post them on your website with an invitation to your readers to re-republish them (always stipulating full attribution, of course.) Once you have a few articles, you can turn those into a book. You might also want to interview other experts and include those comments in your articles or video them for your website.

You might also consider starting your own blog but that does require a commitment to regular postings so think carefully before taking that leap.

Twitter is another way to become known. Again, regular postings are the key to making Twitter work for you.

Finally, you can develop speaking programs and talks on your subject that you can present at industry events, lunch and learns or other opportunities you create through your business and community connections.

If you are serious about being seen as an expert, you can start today. What is the first step you will take?

Until next time,

Robin

*If you are not already a member, visit LinkedIn to join.

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Super rainmakers know what they do and how to communicate that in a headline statement, or what’s often referred to as an elevator pitch. They look at their services from the client’s point of view and then craft, refine and practice that statement so they can say what they do in any situation with ease and grace.

A classic mistake many service professionals make is to talk about what they do vs. the problems they solve. If you’re not creating connection with your target market, it may be time to re-think how you talk about what you do.

Before I worked on my own headline statement, I used to say, “I’m a business development coach for attorneys and CPAs and I help people come up with a marketing plan and I meet with them once a month and I hold them accountable,” and on and on and on until they stopped listening. My headline statement clearly wasn’t working. That’s when I went back and looked at the last 20 people who hired me and here’s what I discovered about those clients.

Number 1: They hated marketing.

Number 2: They didn’t have time to do marketing.

Number 3: They were very frustrated with the results of the marketing efforts they had done.

Now when I meet people I say, “I’m a business development coach for attorneys and CPAs who hate marketing, don’t have time to do marketing or are frustrated with the results of the marketing efforts they have done.” The statement creates a connection with the listener and is remembered long after our conversation ends.

Is your headline statement working? If not, try the following exercise to create a new and more compelling message.

1. Think about the last 10 – 20 clients who hired you.
2. List the top three reasons they hired you:

• _____________________________________
• _____________________________________
• _____________________________________

     3. Turn those 3 reasons into a statement about what you do and the problems you solve.

Until next time,

Robin

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In case you missed it, the following is an excerpt from an interview I did recently with super rainmaker John C. Yates, partner-in-charge of the technology practice at Morris, Manning & Martin that was featured in the Daily Report and reprised on last Friday’s law.com. The video that accompanies this excerpt is here. 

Q: How do you get new clients?

A: I'm reminded of one company that was just an idea in the mind of two entrepreneurs when I met them. They were referred to me by a Boston venture fund, and they wanted to start a technology business immediately. During our initial phone call they outlined their grandiose plans to build a billion-dollar company -- even though they had no technology, employees or money. Given this outrageous billion-dollar goal, my colleague in the room motioned to hang up the phone. I shook my head, muted the phone and said, "Let's stick with 'em -- they're young but maybe they'll make it."

We met with the entrepreneurs several days later and determined they were the ideal client. They fit the target profile for our corporate technology group. They were looking for a firm that could provide value-added legal services, and we emphasized our experience in providing our clients with significant benefits and efficient legal solutions.

Eighteen months later, as a result of a team effort involving our tech, M&A, tax and employment attorneys, our client went from idea to ecstasy -- the company was sold for $3.25 billion. It was a truly miraculous outcome, and it doesn't happen very often. It was particularly rewarding when the client turned to me at the closing and said, "You really helped us get here -- we couldn't have done it without you and your team." I recently visited with the client, who is now a venture capitalist in Silicon Valley. He still recalled the whole experience and was appreciative of the hard work of our team.

Q: Have you ever lost a client?

A: Losing a client is one of the hardest, and possibly one of the most instructive, experiences an attorney can have. It's hard, obviously, because you lose someone that you probably cared for, someone that's generating revenues for you, and someone on your client list.

On the other hand, it can be instructive to honestly ask yourself, "How did this happen?" On a few occasions -- fortunately not many -- I've had to reflect on that question. I've concluded the common thread in losing a client is often that you haven't paid close enough attention to them. It's like any relationship. Problems arise where you don't communicate, you're not in dialogue with the client, and you're not finding out about their problems and concerns. Proper client communication can be very simple. In some instances e-mail communication may work, but in most situations the face-to-face meeting with the client is critical.

When an attorney looks back and says, "How did I miss that opportunity?" or "How did I lose that client?" it usually comes back to the simple fact that you didn't pay close enough attention to the client.

Q: Have you ever fired a client?

A: I have fired a client before. I must confess, it wasn't easy but it needed to be done. In short, we got to the point that we had a difference of opinion and needed to part ways. I recall the setting -- I was in a meeting with one of my colleagues, and he said that he was going to sit right next to me and kick me in case I changed my mind.

It's very difficult to fire a client. However, it's periodically required to do so, sometimes for reasons that we all know can exist in the practice of law. For example, there may be conflicts of interest that arise, payment issues, or the client may be engaged in activities that cause you to be too uncomfortable.

In some instances, quite frankly, the client may not be treating the people on your team respectfully. It's extremely important in business development to have a team orientation if you really want to be successful and grow a practice beyond yourself.

If there's client disrespect, behavior you can't condone, have a heart to heart with the client. If your client won't change that behavior, you're better off without them. Again, at the end of the day, it's the team orientation that will bring about long-term success in business development.

Q: Have you ever turned down a potential new client?

A: Earlier in my career, I thought that every prospect referred to me was the ideal client. Early in every attorney's career there's an enthusiasm and excitement about bringing in a new client, any client. Later in your career, you're often confronted by a prospect that really isn't in your legal "sweet spot" but who wants to retain your services. The temptation to take on new business of any kind is strong.

What I determined very quickly in my career is that every prospect is not an ideal client. The reality is, and this is very hard to do, you have to turn down a lot more than you decide to pursue. I'm not as good at this as I should be.

My clients have taught me a number of lessons about taking on new business. One of the keys is to build a qualified target prospect list and then be very selective about how you spend your time, and more importantly, your money to pursue the targets. There are a lot of prospective clients in the world, but you have to sit back and ask yourself, "Who is that ideal client, and where should I be spending my resources?"

Another consideration is to never burn a bridge. A prospect that may not be a suitable client today may be your most ideal client years from now.

Q: Looking back at losing a piece of business, what are some of the things you would do differently?

A: There's an instructive element to studying the issues surrounding a client you may have lost or a prospect who didn't select your firm.

Every business developer reflects on those situations where you made a presentation you felt was right on, you hit on all cylinders, and you have a solution to all the prospect's legal needs. You walk out of the pitch high-fiving your colleagues. And then you find out the prospect selects another firm.

When this first happened to me, I learned that, even though we may feel positive, there are often extraneous factors that come into play that we have to consider -- things that are, frankly, beyond our control in the face-to-face discussion with the prospect. In some instances, there may be an existing relationship that the prospect has with someone else that you're not aware of; or another firm, director or influencer may be able to exert unique leverage on that prospect to get them to select another law firm.

To address this contingency, research the prospect's material connections with other people in their business and friendship communities. Analyze their strategic partners, trusted advisers and business relationships. Then, let those trusted partners and advisers know that you had a good meeting with the prospect and that you have a real value-added solution to the prospect's legal needs; and ask the trusted partner or adviser to put in the good word for you with the prospect.

The key lessons to be learned are simple ones. Work together as a team to pursue new business. Pay attention to your clients, and listen to them often. And carefully select prospects -- research their relationships and seek referrals from your strategic partners.

Until next time,

Robin

Some 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

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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

Have 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

Recently, I asked super rainmaker John Yates, 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

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?

Last time, we talked about how world-class rainmakers make a habit of using every networking event to maximum advantage. They start by choosing the right events and organizations for networking—events and organizations where their target clients are likely to be. You can do this, too and hopefully you have been looking carefully at your commitments and deciding which are the best use of your non-billable time.

Habit #5: Transform Networking Events Spent Wandering Around Marketing Into Focused Activity That Produces Tangible Results – Part 2

This week I’m going to give you a few tips on how to make your next networking event pay bigger dividends for you. Let’s start with making a plan. Who do you want to meet? Hint: ten targets is a good number. 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.

• 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.
• Most attendees lose the advantage of the evening. 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. This poor planning can be costly, not just in the cost of the event but also in lost opportunities.
• 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.

Program Update: Last Thursday’s Raising the Bar 90-minute seminar, "LinkedIn Secrets for Lawyers & CPAs" was a tremendous success and I am sorry if you missed it. We’ll be letting you know about future events here and on LinkedIn. If you are not already a member of the Raising the Bar: Social Media Marketing for Lawyers and CPAs Group, then email me right now requesting to join and I’ll get back to you right away. In the meantime, remember that you can arrange for one-on-one LinkedIn coaching with Raising the Bar’s social media consultant, Jeffrey Brathwaite by contacting me.

How will you work your next networking event?

• Who is on your target list?
• Who do you know who will be there that could introduce you to your target(s)?
• How will you be sure you arrive 20 minutes early?

Habit #4: Transform Trusted Advisors Into Referral Engines Through NetWeaving

Last week I shared with you that the best rainmakers know how to NetWeave with their connections to develop a powerful referral engine and that this is especially true when it comes to working with their trusted advisors.  We talked about who exactly is a trusted advisor and I introduced you to my friend Bob Littell and his NetWeaving pay-it-forward business model. And, I gave you an assignment for this week so you could start building the same habit world-class rainmakers use. So, how did you do?

• Did you arrange to meet with a trusted advisor you rely on in your practice?
• If so, did you ask who would be a good referral for that person from among the people you know?
• Did you arrange an introduction if it was possible or practical?
• Were you prepared to say who an ideal client is for you and who among your trusted advisor’s connections would make a good introduction for you?
• Did you set a timeframe for action and follow-through?

If you were able to check every box, that’s great and you are on your way! But, that’s only the beginning. (Just a reminder if you’re stuck on who is a trusted advisor, email me at rhensley@raisingthebar.com and I’ll send you a Trusted Advisors Inventory to help you get started.)

Meeting once in awhile with a trusted advisor is not enough to either build a habit or keep your referral engine purring. You must commit to regular communication—at least monthly to both keep your trusted advisor top of mind for you and the other way around. Over time, you will develop a deeper relationship and a “mutual admiration society” as you get to know each other’s specialties, goals and interests.

If you are not able to meet monthly, commit to stay in touch by phone or email. Leverage time by developing an “A” list of four or five trusted advisors and arrange to meet as a group. The possibilities for opportunity become much greater in this larger group setting. Keep the number small enough so that everyone has a chance in the spotlight during the time allotted. Don’t make it all business, though. Spend time getting to know others—their hobbies, interests, favorite sports and teams. Stay in touch and top of mind in between whenever you come across something of interest to one or more of your group. For example, the recent NFL draft picks might be good or not so good for one of their favorite teams. Why not say, “Hey, saw the Falcons just picked _________. What do you think? Good move?”

If you’re shaking your head and wondering how any of this could deliver practical results for you, here’s a little encouragement. Sometimes netweaving really pays off. I introduced two of my clients and, over the past two years, the CPA has sent the lawyer $500,000 of business. That’s paying it forward on a grand scale!

LinkedIn is also a great way to stay in touch and top of mind. I’m doing a very special seminar on LinkedIn for practicing lawyers and CPAs. LinkedIn Secrets for Lawyers, CPAs and Other Professionals is May 6^th in Atlanta. 

How will you build this new habit?

• What will you commit to do?
• Who will you target to meet with on a regular basis?
• How will you stay top of mind?

Habit #3: Establish a Personal Powerful Presence Part 2

A personal powerful presence isn’t just for clients.

Last time I asked you to rate your personal powerful presence. How did you do? Are you hitting a home run in all categories? If I asked the managing partner at your firm or the key members of your team if they agreed, what would they say?

Now you might be thinking that a powerful presence only counts with clients but that’s not true. Your future with your firm or company has a lot to do with how the people around you everyday in your workplace perceive you. Many lawyers, for example, know how to dress for court and for being in front of a judge. But what about when they are back at the office? Consider this.

• Who votes on you to make partner?
• Who votes on your compensation?
• Who determines your compensation and your future at the firm?

The people who judge you first are the people right there, in your office.  Is your personal powerful presence strong enough to make those decision makers want to include you in their cases and with their clients? Your harshest judges may be the people who are right next door to you in the office – watching.

An unprofessional image means you could be overlooked for participation in an impromptu client meeting or other unplanned but important event. But it’s not just being ready for the unexpected that increases your go-to quality. It’s projecting a powerful personal presence all the time so you are ready to participate in anything that comes your way.

One simple rule: Get help if you need it!

If you don’t feel confident in the image you are projecting—whether it’s your appearance, speaking or presentation skills or any other aspect of your professional demeanor, hire a professional to coach you. I do and I know it works. Remember, it’s not the firm’s job to take care of your every single personal and professional need, so don’t rely on their approval. Invest in your own future, check with the experts, and get the help you need.

Tell us how your personal powerful presence has affected your results.

• What are some of the things you do to be sure you are always ready for opportunity?
• What one piece of advice about presence do you wish someone had given you when you were starting out?
• What plans have you made to change at least one aspect of your professional presence that does not support your goals?

This month we’re talking about the second of the 7 habits that set truly great rainmakers apart. Last time, I explained the importance of digging deep to build your marketing plan (part 3).

Part 4: 5 ways to triple your target marketing plan’s success

By now you know what you do and who your target is. That’s very good and certainly very helpful but it won’t turn wanting more business into getting more business unless you have a written plan. Your written plan can be as simple or as complex as you want to make it so long as it includes these 5 points that almost guarantee your success.

1. Go for more of the people and clients you enjoy working with now or have worked with in the past. Make a list.
2. Study your best clients. What industry meetings do they go to? Ask if you can accompany them to those meetings at no charge of course. You will learn more about your clients and their industry and how you can help them do their business better. They in turn will be pleased to introduce you to their colleagues. Make a list and a timetable for following through.
3. Learn about trends, technology and tools you can inform your potential clients about that can keep them on the cutting edge of their business. Ask yourself, “What does my target client need to know to stay on top of his or her game?” “What challenges keep my target client up at a night?” “How can I be a resource or messenger of opportunity for that potential client?” Make a list and a plan for how you will connect with your clients and potential clients on these issues.
4. Read what your target clients read. Following industry trade publications helps you know your client better and gives you more to talk about that interests them. The deeper you immerse yourself in your client’s business, the closer you will be to the heart of your client’s business. Make a list, subscribe and/or google your topics and start reading.
5. Upgrade your own knowledge and experience through continuing education, advanced coursework and/or pro bono work that puts you on the front line of industry issues. Make a list and a timetable.

If you’re stuck on how to develop an individual marketing plan, one-on-one coaching could help. Email me at rhensely@raisingthebar.com for more information. 

Tell us about your plan…

• What organizations and publications are you targeting?
• What trends, technology and/or critical issues are you leveraging?
• What new skills are you developing to keep you ahead of your targets?

FYI, the following article on the similarities between what is going on in today’s economy with attorneys (and other professional service firms) and with those in managed care appeared in the March 12, 2010 edition of the Atlanta Business Chronicle. Full text appears below

http://www.bizjournals.com/atlanta/stories/2010/03/15/focus6.html?b=1268625600%5E3024771&s=industry&i=economic_snapshot

The past year has brought significant changes to the legal industry, affecting the way law firms conduct business and relate to their clients. The economic marketplace is no longer predictable; and the legal industry has been dramatically impacted:

• New pricing models have emerged.
• Client relationships have shifted and are less secure; long-standing partnerships between lawyers and their clients are transitioning from unique to commodity status, where cost matters most.
• To keep costs down, some clients are suggesting a fungible relationship with their lawyers, where some types of legal services are provided in exchange for products or services of the client and no money changes hands.
• Traditional methods for recruiting, hiring, and training are less effective, so they are quickly being replaced by unproven techniques.

The rapid, unexpected changes to the economy have not allowed any business segment — let alone the legal profession — to react in a thoughtful, strategic manner. There has been a continued stream of imprudent responses, and they are not working. Reactions must be based on an assessment of the long-term possibilities and consequences.

What lies ahead?

Continue Reading

This month we are continuing our focus on the habits that set highly effective rainmakers apart. Developing and practicing these habits can dramatically increase your chances for achieving your goals.

Habit #2: Define Your Specialty Brand & Build an Individual Marketing Plan

World-class rainmakers are crystal clear about their specialty brand and have developed a written individual marketing plan with measurable goals that work for their own unique requirements. And, they make a habit of diligently working the plans they create. (My business development coaching clients meet with me monthly to examine how their plans are working and what they are doing to implement them.)

Your specialty brand is what you are known for

You will get more referrals if you make yourself known for a specialty area, even if you maintain a general practice. For example, general corporate work is one of the toughest things to market because people have a lot of choices. However, if you become well-known in the RICO area, the appellate area, or in another specific area, you can brand yourself as the go-to person for that area. Reputation yields referrals.

You may be reluctant to declare a specialty but that reluctance can seriously limit your business development opportunities. You may argue that the opposite is true—that declaring a specialty limits opportunity but, I can tell you that is not so. In my experience working with literally thousands of lawyers, CPAs and other professional service providers, a focused approach produces the best results. You simply cannot market to everyone. That is not to say you can’t or won’t accept matters that are outside your specialty if you have the expertise and inclination to do the work. What I am saying is, being known for a specialty helps you both focus on and attract the business you really want to do.

Next time, we’ll be talking about how to zero in on your target client. In the meantime, be thinking about the specialty brand you already are or would like to be.

What is your specialty brand?

• What are the areas of law, accounting or the service you provide where you excel?
• How much of your practice is devoted to that?
• What would happen if you focused more on that and let people know about it?