Do Your Lawyers Think as Business Owners or Employees?

• Do they purposefully devote at least 10-15 hours a month on relationship building activities with “targeted” audiences?

Note: To respond to this question appropriately, they must know specifically whom their ideal client(s) is … what is the job title of the individual whom can retain their legal services and/or refer them to those who can? This is critical.

• Instead of focusing on what work they can “get” from someone, they are more focused on how they can help others in connection with solving a problem, protecting a client, preserving a tangible and/or capitalizing on an opportunity. These considerations are a mark of a savvy business owner.
• They constantly consider ways to help existing clients/referral sources/prospects by keeping them abreast of ongoing changes (such as legislative and/or economic) that may affect their business (positively or adversely).
• They go wherever their clients go, i.e., professional/industry associations where they can learn more about their clients' (and/or prospects') business and interests so they can rise to the “trusted advisor” role, which garners an enviable “bet-the-company” (high) billing rate.
• They know who their clients' top competitors are. Further, they've commissioned their in-house knowledge manager to gather competitive intelligence on the competition so they can advise their clients on ways to stay a step ahead of them.
• They have created an internal process to get and stay connected with their existing clients, reliable referral sources and targeted qualified prospects. Since they are “chasing relationships, not work,” regular and frequent communication is essential.

helpful xxx Journal

• In-person meetings (could include coffee, meals, sporting events and/or other face-to-face events).
• Regular e-blasts with information that prospects/clients will find timely, topic and relevant to their business and/or personal interests.
• Reinforce these modes of communications with regular social media posts (such as blogs and/or news of their professional activities/accomplishments).
• Include clients/referral sources/prospects on firm email distribution lists for timely, topic and relevant topics (no one enjoys receiving spam that is of no material use to them).
• Offer to present to and/or speak with their client's leadership team (off the clock) on a potentially damaging (or novel) legal development and strategize ways to get ahead of the development.
• Understand that a large percentage of new matters originate from satisfied clients and referrals (some say as much as 50% per year), and invest in meaningful, continual relationship building to bring value to these growing relationships.

key to them |

Danger, Danger

1. The profile of their ideal client(s);
2. Where clients go and what they read; and
3. Their business or greatest concerns (SWOT – strengths, weaknesses, threats and opportunities).

***** Kimberly Rice Rainmaker Road: A Step-by-Step Guide to Building a Prosperous Business [email protected].