Associate Today; Partner Tomorrow: Business Development Skills For Young Lawyers

At one time, a law firm associate who wanted to make partner simply had to do good work and stick around for five to seven years.  Today, the path to partnership is much more complicated.  An associate who wants to make partner must know how to develop – and keep – a good book of business.

“There is no ‘one size fits all’ set of business development skills for young lawyers,” said Michael Smith.  “Forget any stereotype you might have about what makes someone a ‘rainmaker.’  Just find the skills that work for you.

“A gregarious individual might build a multi-million-dollar book of business by virtue of social networking relationships,” said Smith.  “A scholarly person might be more comfortable writing articles and giving presentations that lead to a reputation as an expert that attracts new business.

“A more introspective lawyer might build a book a business by focusing on a unique specialty practice,” said Smith, “or by strategizing to inherit the book of business of a partner who is getting ready for retirement.”

Michael Smith, a strategic business counselor with SBC & Associates (www.sbcassociates.com), discussed the skills that young lawyers could use to develop business at an educational meeting of the Rocky Mountain Chapter of the Legal Marketing Association, held in Denver Sept. 11 at The Oxford Hotel.

“Know yourself and what you want out of your career,” said Smith.  “If you are perfectly happy being an employee rather than a partner, don’t worry about business development.  Of course, with no clients of your own, you are very vulnerable if you lose your job.

“If, on the other hand, you see yourself as an entrepreneur in charge of your own career – then you need business development skills,” said Smith.

Do not confuse business development with marketing.  “Marketing is the law firm function that focuses on the firm brand and its position in the marketplace,” said Smith.  “Business development focuses on an individual lawyer’s personal brand and his or her (ultimately portable) book of business.

“It is not up to your firm’s marketing department to build your personal book of business,” said Smith.  “That is your own responsibility.”

A law firm associate who wants to learn how to develop business should consult the “masters.”  “Find an experienced lawyer – in your firm or elsewhere – who actually has built the kind of practice you aspire to,” said Smith.  “Take him or her to lunch.  Ask the lawyer which tools he or she used to develop this book of business over time.

“Most likely, you will not be comfortable using all of the tools that this senior lawyer used,” said Smith.  “Every lawyer is different.  Maybe the lawyer used A, B, C and D.  Maybe C works for you.  Put this on your list.  Then, contact more role models with the same question.  Gradually, you will come up with a list of tools that might work for you.”

A law firm associate must approach business development with a positive attitude.  “We all have this little voice in the back of our heads that weighs in with negative comments when we think about trying something new,” said Smith.  “In the heads of most lawyers, this voice really hates everything about business development.

“If we listen too closely, we will never take a risk – even a risk that could lead to a very positive result,” said Smith.  “Learn to turn down the volume on that voice until you reach a place where you are just a little bit uncomfortable.  This is the place where learning takes place.  Use that slight level of anxiety to achieve a positive result.”

Before he or she can develop business, a law firm associate must find a specialty niche and do some research to define the “ideal client” that populates that niche.  “Focus your efforts on finding out where these clients work, what they read (in print and online) and which industry groups they belong to,” said Smith.  “Then, spend your time and money – which are usually limited – promoting your personal brand within these outlets.”

Networks are essential to any successful business developer.  “Start by tapping your personal network – school alumni, relatives and friends,” said Smith.  “Let them know exactly what you do.  ‘I’m a lawyer’ is not sufficient.  ‘I help retailers in the fast-food industry when someone is injured on their premises’ is much better.”

In addition, build a professional network around your target market and keep in touch with this network by establishing – and keeping – a schedule for frequency of contact.  “People need to be reminded that you are out there,” said Smith.  Contacts can include handwritten notes, email, blog posts, or a mailed copy of a useful article.

“The cheapest and easiest way to get new business is to simply pick up your phone and call someone who is in your professional network,” said Smith.  “You can do this while driving to and from work or meetings.  Just ask, ‘What’s up?  How are things going?’”   Set a reasonable goal of a certain number of phone calls per day or per week.

“An associate who wants to build a book of business should determine the ‘ideal client,’ build a network and come up with a schedule for making contact with every person in the network,” said Smith.  “All of this information should be put into a written plan.”

The written plan should be analyzed monthly and annually.  “Which of your business development techniques are not working?  Don’t waste any more time and money on them.  Which of them are bringing in new business?  Double that effort,” said Smith.

Janet Ellen Raasch is a writer and ghostwriter who works closely with lawyers, law firms and other professional services providers – to help them achieve name recognition and new business through publication of articles and books for print and rich content for the Internet.  She can be reached at (303) 399-5041 or jeraasch@msn.com.