No more excuses
Take an active part in your firm's business development, or risk losing out to more commercially minded competitors, advises Douglas McPherson
I am not so blinded by the bright lights of business development (BD) as to think that you entered the law to be a marketer, but I can say with some conviction that the legal profession is now more commercial than ever before and, as time goes on, it’s only going to become more so.
This means that the importance of playing some part in your firm’s BD efforts is going to increase too, as will the impact your BD has on your career, because the ability to bring in work will soon be – if it isn’t already – a key criterion when it comes to picking partners.
Once you have decided what part you want to play in your firm’s BD, you must get rid of any obstacles that will prevent you from doing so.
What do I mean by obstacles? As BD is sometimes (wrongly) considered to be an add-on to your job as solicitor, rather than one of your responsibilities, it is very easy to talk yourself out of doing what’s required, particularly if you’re faced with a full caseload or a particularly tricky matter.
In our experience, these obstacles (read: excuses) sit loosely under three umbrellas. Today, I’m going to try to dispel each of them.
1. ‘It’s enough just to be a good lawyer’
Don’t get me wrong, being a good lawyer is essential, but it is only one part of a three-pronged model.
As well as being technically excellent, you need to provide the highest level of service. Good service is repeatedly proven to be the key driver behind successful client retention and increased levels of client referrals. Both will generate work for you. The majority of the population wouldn’t know good law from bad law, but we do know good service from bad service.
We are also more susceptible to properly crafted sales messages and to the flattering approaches of new, hungrier suppliers.
This leads on to the third prong, which is profile. It’s all very well being brilliant, but if no one knows about it, how much work will you generate? You need to let people know about you, what you do, and that you do it well.
2. ‘I’m too busy’
There is no doubt the world is generally a busier place. Letters have given way to email, which has in turn given way to email in your pocket. Client expectations have risen dramatically in line with that technology, and what was once expected within a week is now expected by return email.
However, if you’re not prepared to set aside a little time to keep adding to your pipeline, there will come a time when there will not be as much to do. Similarly, if you’re not willing to look after your clients and take an interest in their future plans, you may eventually find they have gone to alternative advisers who were.
There is an old adage that if you want something done, ask a busy person. Why? Because they are organised enough to prioritise and fit work in so that things keep moving forward.
You need to be able to prioritise and even delegate so that there is time to build your practice and maintain a full and productive pipeline.
3. ‘It’s what I’ve always done’
Just because something worked five, ten, or 15 years ago doesn’t mean it will still work now. Following on from the previous point, not only has technology moved on, but your clients’ lifestyles and working practices have too.
Clients that used to be served by a long, leisurely lunch may now be under similar stringencies to you. To add real value, the social aspects of client relationships could be replaced by onsite training, secondments, or free-of-charge reviews and audits. It’s all still BD as you’re spending time with the contacts and their businesses.
Similarly, technology offers a variety of time-efficient ways to engage with clients in between matters. The update and posting functions on LinkedIn provide a powerful passive advertising tool you can use to stay in all of your contacts’ line of vision.
For those involved in private client areas, social media platforms like Twitter offer you an opportunity to boost your profile locally through interaction with community groups and the press. Meanwhile, email gives you the perfect vehicle for sharing relevant news pieces. Simply click, copy and paste, and two seconds later you’ve made contact.
But how do you find out how you should develop your marketing model? Well, that’s easy – find some time to sit down with your clients and ask them. And yes, that’s BD too! SJ
Douglas McPherson is a director at Size 10 ½ Boots