/>iLast year, I interviewed over 20 lawyers for a book I’m writing on business development in the legal marketplace. One of my main goals was to uncover the challenges, frustrations and concerns facing lawyers who are confronted with the task of growing a sustainable book of business. One of the lawyers that I interviewed was Bill Rudnick with DLA Piper, who was kind enough to share his thoughts on these challenges with me.
When asked, “Why do attorneys tend to shy away from business development?” he gave me three specific answers. Interestingly enough, they all related to fear. First there was the “fear of embarrassing yourself,” primarily in a social situation. Second was the “fear of investing your time and not getting anything in return.” Third was the “fear of failure.” While we all know a few lawyers who seem dauntless in their abilities to make it rain, for most attorneys these fears are real enough.
The truth about business development is that you can embarrass yourself, waste countless hours and fail in building a book of business. You may have tried a number of biz-dev strategies that just didn’t pan out, finding yourself in the same place you were before. You may even have though that “it’s not for you,” and given up.
My goal in writing this particular piece is to let you know that there are three critical elements to success in business development that you must know. They don’t teach you this in law school and it’s very possible that your rainmaking mentor doesn’t have the answers for you either. Here are the three areas that must be developed to effectively remove the fears that may exist and move you forward to excel at building that sustainable book of business.
Element #1: Developing a game plan
A number of my past articles have eluded to the importance of developing a specific plan that leverages your strengths. For example, if you have a deep network and strong relationships, that would be your focus. If you enjoy meeting new people, then networking might be your thing. Whatever you can identify within yourself, use that strength to your advantage.
If you find that your strengths are somewhat limited, you might have to start small by having coffee meetings with some of your close friends and family. When meeting, let her know what you do and how you are helping people solve problems. Ask questions to identify opportunities within her business or through the people she knows. Here are a couple of good probing questions that might open up the conversation. Remember to always start with the easy questions and then dig deeper to the more telling ones:
- Tell me more about what you’re doing at your company.
- What types of projects do you handle on a day-to-day basis?
- What are the plans for growth as you see it?
- What type of challenges does your company face and how do they impact you?
- Aside from legal solutions, how can I help you or impact your business in a positive way?
- As you know I’m a lawyer, so I’m always curious. What legal issues have you faced over the last few years and how were they resolved?
While these are only some sample questions, it might make sense to write up a few of your own so that you are prepared for any and all coffee meetings you commit to. Also, remember that building relationships first is paramount before asking deeper probing questions. She must like and trust you before opening up to you. The best way to do this is to always ask about how you can help her and add value in her job or life in general. Lastly, get comfortable using LinkedIn as a tool in your practice. There’s nothing better then sitting down with someone and already knowing that they have 2-3 good connections that would be meaningful to them and for you.
Element #2: Get some help!
While this might seem like a pitch for my services, there are myriad ways to get help in learning business development. The important thing is that you don’t waste too much time “winging it” as apposed to following a proven process.
A real example I can share with you goes back to my second sales job selling Yellow Pages. If you’re under 30, the yellow Pages was how we found addresses and phone numbers for businesses we wanted to check out. How old do I feel now? Prior to accepting the new position, my new manager explained their training process to me. First I had to memorize a 23-page single-spaced sales script. This was before even stepping foot into their office on day one. Second, I went through a two-month training program, before I was allowed on the phones to call prospective clients. Adding up the time, I studied and practiced for over 400 hours before making my first call. I can imagine how ridiculous that must sound to you. So why did they put me through all of that?
The reality of business development or becoming great at anything is that it takes significant time and effort. Take a moment and add up how many hours it took to get a law degree and become a great lawyer. Between the classes, studying and working to learn the craft, it doesn’t happen overnight either. Becoming a great business developer isn’t that different. You need to find books, videos, internal firm resources, a friend in sales or even a business development coach to obtain the knowledge necessary to effectively grow your book of business. Whatever you decide, take action NOW. The clock is ticking and it’s not getting less competitive out there.
Element #3: Make business development not about “selling!”
One of the most important comments that I obtained in my interview with Bill Rudnick was, “I’m not looking for business; I’m looking to help other people.” His quote hits the mark because he’s essentially taking all of the pressure off of himself. By focusing on helping others, he’s no longer a “salesperson.” He’s a problems solver, friend and counselor. What a huge relief!
Business development can be incredibly rewarding with this type of attitude and approach. Imagine entering a meeting with your friend who is a General Counsel for a mid-market manufacturing company. You know that he could use you and you really want this business. Option number one, go into the meeting and hard sell yourself and your firm. Option number two, go in with some great questions and the notion that one way or another, you’re going to find some way to add value for your friend.
That being said, you might have concerns that your friend may not need anything. I hear this all the time and it’s rarely the case. It’s just a matter of asking the right questions and making it your job to uncover something she needs. Be curious and work to identify something that can improve your friend’s life or business. Here are a few example that might help:
- Ask amazing questions to learn everything you can about her company and role. You’re a lawyer, so just say, “it comes with the territory.”
- Without giving away the farm, provide some legal advice or tell stories that help your friend to see you as a solid resource.
- Uncover a business need that may not be related to the law. Maybe your friend needs a better vendor, supplier or employee. Do what you can to help.
- Learn about her business and find an actual client for your friend and her company.
- Invest time with your friend doing social activities. This will almost always lead to business over time.
- Invite your friend to fun and educational events where she can meet your partners or other successful business contacts.
While I could go on, I think you get the point. As long as you shift from selling to helping, only good things will happen for you. If you think about it, you probably have a great deal of value to offer.
When you add up the three elements, you will be able to see the path in front of you with greater clarity. If there’s a solid plan, education on business development and a sales-free selling approach, the deck will be better stacked in your favor. If you are serious about your career as a legal practitioner and want insurance for your future, having a sustainable book of business is the best way to go. When failure is not an option, look to the business development leaders like Bill Rudnick to inspire confidence that it can be done.
