
Business development is an art not a science. While proper techniques can be taught, it is the creativity and skill of the artist that makes all the difference.
As a practicing attorney, you are focused on building your book, “making rain,” and navigating your way to partner. As the managing partner you are focused on building top line revenues for your firm. As a sole practitioner, you are focused on building your business into a vibrant law firm. While unique in some respects, all three situations require the knowledge and effective deployment of good business development techniques.
- training and technical assistance
- advisory services
- policy and advocacy support
- marketing assistance
- market access services
- infrastructure services
- promoting business linkages and
- support for technology and product development.
Targeting
Take inventory of what you have and what you know. What type of law do you practice? What constitutes an ideal client? What are their needs? Are there industries where you have had previous success? Do you have specialized skills? Knowing the answers to these questions enables you to develop a list of the best places to find clients.
Identifying
Positioning
Presenting
Closing
Follow up
Follow up is one of the most important but oft neglected skills. Once a matter resolves, regardless of the outcome, stay with the client. Unless you’ve been summarily dismissed, there is no such thing as a former client. While you may not be active with a current file, a client is still a client. Leverage the relationship you’ve painstakingly built for additional business. Remember the 80-20 rule: 80% of business comes from 20% of your clients, but only if you continue the relationship.