Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
It is easy to understand why many lawyers feel that only certain special individuals are blessed with the qualities necessary to be rainmakers. While developing my business development method, it became clear to me that almost anyone willing to develop the qualities necessary can become a rainmaker. Here are the qualities necessary.
|Rainmakers devote a serious amount of time, energy and effort to cultivating their prospects and referral contacts. It's not something they do in a casual way. They are driven by their goals for their firm, family and finances. They give themselves no excuses. They also enjoy the process of networking, making new friends and developing their marketing skills.
Recognizing the costs involved in failing to bring in new clients is also essential since they are numerous. The obvious costs are financial insecurity, a lower standing in one's firm, less personal satisfaction, etc.
|Rainmakers are excellent communicators. They not only get their points across well; they are excellent and intense listeners. They do not interrupt people. They know how to make people feel welcome in their world. They are not critical people, judging every statement made.
Developing these qualities is extremely important. It takes a great deal of self-awareness, practice and effort. Confronting rejection is a skill that must be mastered and can be, with practice. A great communicator learns not to take the things people say personally.
A few ways to enhance these skills are to tape your conversations, take communication courses, use an executive coach or consultant, take Dale Carnegie courses and ask your family, friends and peers to critique you.
People often without realizing it interpret their conversations in self-defeating ways. It is crucial to recognize that there are often several possible interpretations of what people are saying and doing.
Last year, an attorney complained that a certain client of his was no longer interested in doing business with him because he suddenly stopped returning his calls. I pointed out that he was assuming this meant disinterest; it turned out the client was away on business for two weeks.
In general, people are not negative. If a prospect truly chooses not to do business with your firm now, it doesn't mean he will not engage you later. He might also refer people to you if he got the chance to know you better. Beware of negative assumptions; they can cost you money.
|Rainmakers give top-level service. They know that their ability to retain clients and to increase their referrals relies heavily on giving exceptional service. They do not assume what their clients want from them; they make it their business to find out and surpass those expectations. This is a habit they cultivate irrespective of the type of practice they have.
A small company deserves the same care as a large company. A true rainmaker treats all clients with a high degree of respect and attention. Rainmakers are true friends; they know their clients well enough to help in other areas of their lives. They don't focus solely on selling legal services.
Several months ago, I suggested to a litigator that he get to know a particular client better. They became close friends. When the client's son's baseball team needed equipment, my client's firm donated it. Needless to say, my client got many referrals, as well as the good feeling of having helped.
|Rainmakers have more than a sincere commitment to their communities. They often participate in a variety of important causes. They enjoy giving to others and interacting with like-minded people. This supports their magnetism and their ability to attract clients.
|Rainmakers are people who are clear that they deserve money and that it's abundantly available to them and others. They recognize the wealth around them and identify with it. They have good feelings toward money and all the good that can be done with it.
Listing your positive and negative thoughts about money is useful in recognizing your attitudes about money. Discussing financial attitudes with the wealthy is useful as well. People who believe they don't deserve more money, on a conscious or subconscious level, generally don't go after it effectively.
|Rainmakers are lawyers who are always open to new possibilities to expand their growth. They know that money or business can come to them from a variety of sources. They are flexible and believe that opportunities abound. They are open to expanding into new specialties, new geographical areas and new alliances.
They consider different possibilities and look at the reasons they can do business in those areas. It may be important to look at the negatives while considering the positives. But it is critically important to recognize if you are someone who all too often allows the negatives to dominate your decisions, actions or inaction.
|Rainmakers, by and large, are people of high integrity and honesty. They are devoted to their families, friends and co-workers. They live their lives with self-respect and are, in general, not dysfunctional. I'm not saying they are perfect.
Being deadly honest with oneself is not easy. My recommendation is that those who want to improve on this critical factor start to do a self-inventory. Ask yourself if you are being honest about your health and any addictions or family matters. Ask those who know you best about personal issues.
If you need therapy or other help, get it. If you need to clear up something at work, do so. When I started consulting, I met a couple who had a small tax and financial planning business. They complained of zero growth despite much effort.
The fact was that they were overspending in their business and in their personal lives. When I helped them to reverse this behavior, more business came in. It wasn't an accident.
|Rainmakers don't operate in a vacuum. They are helping others at their firm and elsewhere. They know that opportunities abound within and without the firm. Too often people on a team are not aligned to their colleagues or to the mission of their firm.
|Probably the most critical factor in becoming a rainmaker is one's willingness to be coached. Without a high level of commitment to being coached, progress in developing all the necessary skills is not likely.
It is useful to ask yourself honestly if you are someone who readily seeks advice, values it and uses it. Ask others how they view you. Many people in your life have valuable information about you including family, friends, co-workers, clients and even ex-relatives. They can tell you a lot about how you may be seen in a networking situation, in the service you render, your leadership skills and in many other areas.
In developing the necessary skills, I recommend seeking the services of public relations consultants, marketing consultants, business consultants and sales consultants. Training is also available through various sales training organizations. No one has all the answers. We need others. Being coachable is the key to success.
|There is no limit to the amount of revenue you can bring into your firm. As far as I can see, the limitations are all self-imposed and can be overcome with effort, an open mind, constructive advice and the will to do so. You don't have to be a victim of circumstances.
So-called good excuses such as time, money, age, competition and staff issues mask cynicism, apathy and resignation. They are all self-generated conditions. You don't have to let these things get in your way. Anyone can be an exceptional business developer.
*****
Arnold Keiser is a client development consultant with Search International in Marlton, NJ.
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.