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Practice Building Skills: Building the Ideal Business Development Plan
Many attorneys ask us, 'What is the ideal prospecting plan for attorneys? Can't my associates and younger partners just follow our top rainmakers for a few days and then just do what they do?' These are two of the initial questions that we hear when we begin working with law firms. Many attorneys assume that there is an easy magic formula for developing new clients, and if they can just get their hands on this secret formula their business development problems will be solved forever. Unfortunately, our experience tells us that a 'one-size-fits-all' magic formula for success does not exist.
There are many reasons why there is not one magical sales and marketing plan that works for everyone. The first area to explore when building your business plan is, as a firm, what types of clients do you want to target. For example, a boutique law firm with a very specific specialty will need to be more targeted in its approach to business development. These firms may need to decide on what types of clients they want to target, and how to get in front of the decision-makers in those companies. They may write white papers to demonstrate expertise in their particular area of the law, attend industry-specific conferences and seminars, or provide talks and programs to develop their clientele. If a firm is widely known in a specific area, it may be successful asking for and receiving referrals.
A law firm with a number of different practice groups can target a variety of business development opportunities. In most cases, these firms may begin with business development activities within their own firm. We call this practice cross-marketing. Often, law firms don't take advantage of cross-marketing opportunities. Many times there are opportunities for attorneys to introduce their clients to other practice areas within the firm, which gives the firm the opportunity to do more business with the same client.
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