50 Business Development Tips

culled from:lawpracticeconsultants.com

A desk is a dangerous place from which to watch the world!

As a former practitioner, I understand what it’s like to practically feel the weight of the world on your shoulders. When servicing clients, I can all too vividly recall the sensation of feeling bound to my desk by the demands of a case, or by the partner for whom I was working. The thought of walking outside to network, take clients to lunch or attend business development seminars sounded like a joke. I often functioned under the assumption that I would get around to business development after I had won all my current cases, or after I had met all my month’s deadlines, or after I had succeeded the firm’s current partners. This, my friends, is a very dangerous perspective!
Your desk can be one of the best and worst places for you. It can most certainly be the place where you perform the absolute best work for your clients. It can also be your professional prison. If you spend every hour of every day of every week of every year at your desk, then you will be the attorney who (quite literally) disappears under piles of paper and a full inbox. I made this mistake once, and it took me a considerable amount of time to dig myself out.
Schedule time on your calendar during which you get away from your desk and outside your office. You need face-to-face interaction, not only with your colleagues, but with those who will someday be bringing you your next matter. Attend the socials, attend the luncheons, invite professional friends and contacts to lunch or coffee, and find at least one organization to join that will open the door to opportunities for you to interact with like-minded individuals.

All roads lead somewhere – so plan the work and work the plan.

To all the lawyers out there who may not claim planning as one of their strengths, I have a very important news alert for you: Business plans are for everyone! I can’t tell you the number of clients with whom we have consulted that come to us hoping to dive right into their business development efforts without first laying out a strategic, attainable and measurable plan. I’m certainly not saying that every plan pans out exactly as we intend, and I’m also not saying that every unplanned effort fails… but I am saying that a plan makes it more likely that you will get to your destination.
Your business development plan can serve as a roadmap for your practice. All roads do lead somewhere, and I would much rather travel them with a map (or with a GPS) than without. Maybe your plan covers one month, or maybe one year, or maybe 5 years. Do what feels most sensible and achievable for you. A plan is not meant to complicate or belabor your business development, but rather to help you arrive without getting lost. You may need to “reroute” once or twice, but you can always return to the map to make revisions at any time.
For questions about how to put your plan together, contact any member of the LPC team. We would be happy to provide a framework, suggestions, or quick tips for getting started.

Start with the end in mind.

Business development can be a long, uphill journey. If you begin this journey looking first at how far you have to go, it can seem daunting and overwhelming. So why not try taking a different approach instead? Start with the end in mind. Rather than envisioning your end goal as something in the distant future, wrap your mind around the concept now. Think of the end goal as the present reality. Imagine that the prospects you’re targeting are now your newest clients. How does it feel? What services are you providing? And how did you get there? Now do the work to make it happen. What steps do you need to take to reach that point? You’ll find that the end in mind concept may change the course you take to achieve your goals.
My intent is not to offer some sort of mystical forecast, but rather to encourage a mindset that has proved successful for ages. I’ll see you at the finish line!

Legal services are bought not sold.

This tip might result in a drastic change in perception. It sure changed mine! Legal services are not something you sell, rather they are something that clients and potential clients choose to invest in.  Instead of considering business development a sales pitch, think of it as the actions taken to help your contacts, friends and clients purchase trusted legal counsel. Gaining a new client should not be deemed a “win,” but a step forward in the journey to meet their needs, learn their business, earn their complete trust, and ultimately help them surmount each legal challenge that arises. While many car salesmen have a bad rap, this concept is similar to a car salesman who prides himself not on selling on a car, but on helping someone to purchase a car that will best fit their needs, lifestyle and budget.

Review and update your contact information on a regular basis.

I know what you’re thinking: “You must be joking, right? Of course I will keep my contact information up-to-date!” Let me just say that, while highly elementary, this is one of my most important tips. You would be horrified at the number of attorneys who forget where exactly all their contact information is listed, and therefore fail to up-to-date all sources. Certainly understandable! You have bigger fish to fry on any given day. That said, successful business development lies in the details, and this is certainly one of those details. Missing or incorrect contact information could cost you a client. Best practice is to schedule a recurring calendar appointment that will remind you to review/update all contact information every few months. And don’t leave anything out! Check your website, business cards, email signature, LinkedIn and other social media profiles, Yellow Pages, marketing materials, PowerPoint presentations, etc

Practice your pitch.

When meeting and speaking with potential clients, your pitch is the most important tool in your toolbox. “I am an attorney” just won’t cut it! Your words must be thoughtfully chosen and presented in a way that motivates your “audience” to ask for more information. Just as you would prepare for a speech, your pitch should be rehearsed. The goal is deliver your pitch comfortably and smoothly (not mechanically).  It should fit the setting, and be memorable and enlightening without being laborious.
Let me remind you that the service you offer is remarkable and essential – and you should be proud to present it as such. The practice of law not only solves problem, it can change lives. Share this with people! Are you an intellectual property litigator who has obtained multi-million dollar verdicts for trade secret misappropriation? Perhaps your pitch begins something like this: “I represent and counsel clients when their trade secrets are stolen.” Are you an estate planning attorney who works on behalf of high net-worth families? Maybe your pitch starts out with: “I advise individuals in their acquisition and management of vacation residences and personal airplanes.”   Think about what accurately portrays the work you do with an angle that will draw your audience into a full-blown conversation.

First impressions are lasting impressions.

Cliché as it may sound, the truth is you don’t ever receive a second chance to make a first impression. People want to give their business to those they like and trust, and it all begins with a positive first impression. As we all know, a poor first impression can be a turn-off and can ultimately repel prospective clients.  Consequently, having an accurate view of how you are perceived is a high priority. Do you know what kind of first impression you make on people? If you truly don’t know, then we recommend a candid, informal poll among colleagues, family and friends.  These people want to see you succeed, and can provide you with feedback that may surprise and benefit you.
Also, think about who has made the best first impression on you and why.  This could help you to revolutionize your approach at networking events and in-person pitch meetings. Remember to present yourself with professionalism, poise, confidence and tact. A strong handshake never hurts either!

Understand your firm’s business development resources. Your business development/ marketing department is on your side.

I can think of many law firms with incredible departmental resources. Incredible, yet undervalued. Undervalued oftentimes because the attorneys at those firms don’t even realize the breadth and depth of service they can provide. Do you know how much your firm’s business development, marketing and communications personnel have to offer? They are on-hand to support your efforts with strategy, design, SEO, public relations, research, pitch development and more. The most successful attorneys I know use their resources and use them well. Call on your firm’s marketing personnel as the professionals. Better yet, meet with them. Take them out for coffee. Become acquainted. They are there to help you look good. So let them. And when they do? Appreciate them. Thank them… and talk to them about the ways in which you can score your next new client.

Keep your business development antennae up 24-7

The best business developer integrates the activity into his or her daily life and mindset. Rather than placing it into a box you only open when you have a few minutes to spare, it should be an underlying consideration at all times. Yes – ALL times. 24-7. Equate your business development to a radio. You never want the music to stop, so you never put your antenna down.
For example, you may be sitting next to a stranger on a plane flying to San Francisco. Small talk turns into shop talk, which turns into a full blown discussion about legal concerns. Exchange business cards and do some follow-up… you never know where it might lead! Remember, business comes from anywhere and everywhere, and often where you least expect it.

Keep a business development notebook. Track your non-billable time.

How do you keep track of your ongoing cases?  Word processing documents, spreadsheets, sticky notes, legal pads, invoices, or perhaps all of the above?  Further, how do you tally time billed to clients per case?  You track it.  So why not do the same with your business development “cases”?  While each individual’s system may look different, we strongly suggest you maintain a file that contains notes on business development activity, including ideas, new contact names and time and effort spent on each relationship.  Consider it your business development diary, and write down everything!
This may seem like an obvious tip, particularly given your occupation, however you would be surprised how many do not systematically track their efforts.  You may think your memory is sharp… until a case traps you for one month straight, and when you turn your attention back to business development, you can’t recall who said what and when and where.  Lack of organization can cost you valuable time and the ability to recall important details.  Methodical and diligent note-taking will keep you on track by helping you to prioritize. Further, it allows you to look back on how and when specific relationships have progressed

You can’t change behavior unless you can affect compensation.

At the end of the day, money matters. If you want to incur a long-term behavior change, a tangible incentive must be in sight. Successful business development requires diligence, strategy, and intentionality. Attorneys know that originating clients is key to their success; but if they are being rewarded on the basis of billable hours it is unlikely you will see any behavior change. We recommend that law firms offer their attorneys 20% of new originations, however that may be defined! This tangible reward will likely incur different behaviors. That old adage that “people do what is measured and rewarded” is particularly appropriate in incentivizing attorneys to engage in business development.

People do what is measured and rewarded.

Time is finite.  I get it!  So prioritizing is an absolute must.  And too often, business development initiatives fall to the way side, because they are not immediately recognized, measured or rewarded.  But let me assure you that 1, 2 or 10 years from now, the business your efforts generate will be both measured and rewarded—measured in the eyes of your colleagues who weren’t as diligent as you; and measured by your managing partners who have seen your book of business jump from 2 clients to 10. Efforts will be rewarded with, of course greater income, and greater respect, greater satisfaction, and a greater overall practice.

What you do with your billable time is your current income. What you do with your non-billable time is your future.

I know you’ve heard it before – good business developers allocate significant time to business development.  They take the time to think strategically, to take contacts to dinner, to send thoughtful touch-point emails, to research, and to partner with their respective in house marketing/business development professionals in order to ensure success.  The common mindset is:  “If I spend 90 hours per week working, maybe I’ll make more money and get enough ahead.”  You need to MAKE TIME for business development.  Think about the future.  Your future business will not magically appear or create itself through your single-minded devotion to the current work.   We suggest that you schedule time on your calendar for business development activities.  And don’t ignore the reminder!  Stop and actually take the steps necessary to bring your business development ideas to fruition.

If you can make friends, then you can develop business.

I can’t take credit for this tip.  One of my clients recently had this epiphany and was so excited, she called to share – the qualities, behaviors and attitudes that are required in order to make friends are the same required to develop business.  Think about it.  What makes you a good friend?  Do you listen?  Are you inquisitive and thoughtful?  Do you communicate regularly?  Do you smile and encourage?  Are you honest and intentional?  There you have it!  Each of these habits translates to business development.  It’s about getting to know your clients and prospective clients personally, and understanding ways in which you can best support them.

You don’t need to change WHO you are to become a skilled business developer.

You may just need to change what you do.  Think about it – business development is really about relationships.  The skills and determination that have advanced you to the level you’re at professionally are many of the same skills needed for business development.   I would be willing to bet that you’re a good listener, you’re analytical, you’re a skilled questioner, you’re organized, and your work ethic is next to none.  You do NOT need to be the cringe invoking, backslapping, “work a room like it’s nobody’s business” kind of person you might envision.  Business development is about your own personality and comfort level, first and foremost.  Frankly, nobody likes or wants to work with someone who isn’t being true to themselves.  Apply your professional skills to your business development and relationship-building in the way that suits you most

Make it Common Practice

I want to let you in on a little secret that might change your whole perspective on business development: it is common sense. In all my years of consulting, I have never offered any business development advice or coaching that even approaches “genius” – just common sense. That being said, simply because business development is common sense, doesn’t mean it’s common PRACTICE. But that can change. I’d like to invite you to buckle up and join me on a journey through some of my favorite and prized business development tips. My goal is to inspire you to incorporate at least one into your business practices every month. Because then, business development will be both your common sense and your common practice. Ready, set, go!