Showing posts with label Business Development. Show all posts
Showing posts with label Business Development. Show all posts

Saturday, December 3, 2011

January 1st comes only once per year - Advent Day 2

Plan the New Year right by starting now. If you have specific clients you'd like to land, certain people you'd like to meet or skills you'd like to hone, start mapping your course now. That way, you'll be ready to start the work of achieving your goal when the New Year rolls around. Shel Silverstein sums it up:

Woulda-Coulda-Shoulda

All the woulda-coulda-shouldas
Layin’ in the sun,
Talkin’ ‘bout the things
They woulda-coulda-shouldas done …
But those woulda-coulda-shouldas
All ran away and hid
From one little did.

Thursday, December 1, 2011

Don't Get Buzzed- Create Buzz. Advent Calendar- Day 1

In honor of all those little doors being opened to reveal chocolate treasures for good girls and boys this month, here is a similar version for the business development focused attorneys amongst us.

DAY ONE: Don't use Holiday Parties to Get Buzzed, use them to CREATE BUZZ

By all means, share in the good cheer and attend holiday parties thrown by your firm, clients and associations you frequent. But this year, attend the party with business development, and only business development in mind. You wouldn't accept a drink at a job interview, so don't make a bee-line for the bar at holiday parties. If you do, opt for a sparkling water or soda in lieu of a libation. Think about the person, or people you want to meet at these events before you attend and seek them out, sober and ready to talk business. Make the buzz about you and your practice. Think of it this way: a good business development buzz lasts longer than one night!

Friday, November 25, 2011

A Modest Proposal

Citi Private Bank Law Firm Group released its Midyear Report which found that Law Firm expenses are outpacing revenue gains (178 surveyed of which 134 are AmLaw 200) . Reasons for expenses varied, "Some firms increased their operating expenses because they commenced long-overdue infrastructure projects. Many saw a notable increase in compensation expenses, due to spring bonuses.

This approach (spring bonuses in the face of a mediocre economy) contrasts with the every-man article, "How to Make Money When Economy is Failing" in which a man takes the rentrepreneurial approach to shoring up his finances, exchanging time with pieces of his life for money. He rents out his home, appliances, even his dog to. "...make a little extra scratch on the side for our daughter’s college savings, or a remote-control pool shark".

While the running a large business and running a single-family home are vastly different in complexity, it's interesting to consider how differently firms might be run if economic austerity were taken to heart. For example, this is a holiday weekend and many law offices are locked up tight  and vacant. How much money could a major law firm rack up by renting their conference room art to a wealthy family whose home is in a little need of sprucing up? Or that leather couch sitting unused in the lobby? Or the reception area with the killer view as the site of a small private event?

Tuesday, November 22, 2011

One foot in front of the other

Here is an inspirational story of an everyday person who woke up one day, recognized that his life could be better and made immediate steps toward change. The cool part about the story, and the applicable law firm angle, is the step-by-step guide he provides  to tackling his issue on the about page of his blog- from recognizing the issue to making a change.

Social media, attending more networking events, submitting proposals for speaking engagements, signing up for alumni newsletters, taking a colleague to coffee, calling a client, sending holiday card.....it is easy to become overwhelmed by the mountain of things you might do to develop more business. Be careful not to miss the forest for the trees.

Sunday, November 20, 2011

Rock by Rock

I could attach their names to a time and concept in American History, but otherwise I had very little understanding of Merriwether Lewis and William Clark before embarking on I Should Be Extremely Happy in Your Company. "Lewis and Clark" was more like a good old American brand-name: for solid exploration power, choose Lewis and Clark.
The monotony of their daily challenges is striking. Their lives came at them minute by minute, by stream, valley, almost rock by rock as they charted unknown territory. While aware and perhaps enamored by the heroism and fortune that could befall them the work of their journey was still work.

Saturday, November 19, 2011

Beware! Life will Mute your Muse

Ideas are rotting in so many places throughout my life- my draft folder in Outlook, down the drain with the last bit of my morning coffee, on a note abandoned in the glove compartment of my commuter car. The more I investigate this phenomenon, the more overwhelmed I am by the stench of the once ripe and abundant inspirational juices, now rank and unsalvageable.

Nike's Just Do It campaign resonates so well in moments like these. So do it. Take the next lightning flash of inspiration and sprint to the finish. Drop the errand you were about to run and the next mundane task that begs completion and heed your higher calling instead, listen and respond to your muse. Her voice grows softer with each passing second.

Friday, July 15, 2011

The Challenge of Defining Value: "It's $ 6 a month. It's a Latte."

To Steve Swasey, Netflix vice president of corporate communications, the $6 increase facing existing customers is an economic decision. I agree that Netflix, in his words "...went from being an ultra-extremely good value to an extremely good value," with the announcement of an increase for existing customers to continue receiving DVDs on-demand and by mail. His response, however, misses the emotional connection of many early-adopters who've been singing the praises of Netflix over the last ten years. These subscribers have generated an immeasurable amount of free publicity and, more valuable, personal referrals to the Netflix brand. Was an economic model that grandfathered these early-adopters or broke it to them more gently even on the table? Perhaps it would have averted the movement to drop the service altogether inspiring articles like, The Best Netflix Alternatives.

The Netflix saga underscores the last word in ACC's journey to define value in professional services, they don't call it the ACC Value CHALLENGE because of the way it rolls of the tongue.

Wednesday, December 15, 2010

Touching the (Marketing) Void

Watched the incredible survival story of two mountain climbers and their adventure gone awry, Touching the Void. A few marketing parallels:

You can accomplish impossible feats by breaking it down into 20 minute increments. Over and over again, Joe Simpson played a mental game: pick a point, look at watch, make it to that point in 20 minutes. He says he became obsessed with the game as a way to keep himself focused not on the miles and painful miles laid out in front of him, but on the moments and seconds within his power. Marketing is the same...you can't rub a magic golden goose belly and transform into a rainmaker. An overall goal is key but the important work is doing the tasks currently within your reach. Then doing them over, and over, and over again. Write the article. Attend the networking event. Reach out to an old colleague. Complete your LinkedIn Profile and connect with others. Now.

Believing in yourself is as important as the team you choose. The climbers both alluded to the great trust required of anyone climbing in the Alpine Style. It's not the ropes that hold you, rather the person on the other end of the ropes. This trust allowed the climbers to achieve their initial goal of reaching the summit and part one of the descent. But if Simon hadn't of cut the rope, they both would have been pulled down the mountain. Ultimately, each man was forced to rely on his own will rather than leaning on his teammate. Even if your firm has a well developed marketing strategy and great brand recognition, it is up to you to create new business. Remember the old saying, people hire attorneys, not law firms? This applies to your marketing abilities as much as it does to your legal skills.


It doesn't pay to stay comfortable. At one point during the crawl back to base camp, Simpson said that he almost became too comfortable and slipped into a sleep. Hungry, dehydrated, tired, cold...I imagine that sleep is a welcome state to anyone after such a gut-wrenching ordeal. Had he succumbed to this natural inclination, I'm guessing it would be all the more difficult to wake up and begin moving again, to put himself through the initial shock of pain and desperation. He fought against it and ultimately made it out alive. In what areas of your business development efforts have you become comfortable? Do you talk only to people that you know at CLE events? in the break room? Staying away from the comfort zone is easier than slipping in and trying to make your way back out again.

Wednesday, September 29, 2010

Attorney Marketing: 2 Things in 5 Minutes.

There is absolutely a need for articles like this (10 items for your law firm marketing to-do list), this (10 ways to optimize your LinkedIn profile) and this (marketing your law practice with a blog). However, how often does an attorney successfully complete even half of the proposed 10 steps without being interrupted?

It's too complicated. These articles belong with the marketer to build a portfolio of ideas and support the firm's overall strategic planning. Get your attorneys to devote 5 minutes a day to marketing their practice and you'll have over 20 hours a year from each lawyer. For the first 5 minutes tell them to:

1. Google yourself
2. Google your client before you call

Need proof? Here is an article from Corporate Counsel Magazine quoting 3 in-house counsel on precisely this issue.



Tuesday, September 28, 2010

Don't Quit Your Day Dreaming Job

Words like job, work and paycheck take up a lot of space in our collective unconscious these days while ideas like profession, fulfillment and reward are all but forgotten.

Shortly after the economic collapse, somewhere around the fifth or fifteenth round of Bad Unemployment Reports and Home Foreclosures the notion of loving what you do and doing what you love was sacrificed in favor of survival.
Hard Concrete Examples of day to day living replaced optimistic and joyful examples of loving the life you live between 9 to 5.

I say it's time to get back to the Work of Day Dreaming. "If you can't be with the (job) you love, honey, love the (job) you're with". Pretend that you just got the job after a long and tedious search...you made it to the final interview and nailed it! They hired you for this job because nobody can do it better. Start each day accomplishing your least favorite tasks first and move on to the things that you love (or remembered enjoying) about your job when you first started. This way, when you leave the office for home, you will end on a high note, leaving work that you enjoy, not tasks that you dread.

While you can't control the economy and you can't control decisions that are made in board rooms you can control the way that you respond. Sometimes it's not really the man that's bringing us down, it's the person we face in the mirror instead.

Wednesday, September 8, 2010

Better by Association

Joining an Association is a relatively painless way to Enhance your Book of Business

Business development, like exercise, is a vague and ominous expression. We are all familiar with the ultimate benefits, but taking the first endorphin-free steps can be intimidating. Trick yourself into business development by joining an association (or reviving a stale membership). As workout partners and trainers are to exercise, an association is to marketing and business development. They encourage you to stretch outside your comfort zone and eventually flex your business development muscle. Some thoughts to stimulate your journey:


Expand your Kingdom of Expertise. Associations offer something for everybody. Not only is it easy to find an association that matches your personal or professional interests, but within that association you are likely to find a volunteer commitment that suits your strengths OR allows you to further develop an aspect of your character. Association work is a great way to cross-train, add life to your resume and keep you engaged with a pool of professionals that can ultimately deliver referrals or transition into straight business contacts. When selecting an association think about the particular skills or network you are looking to develop. At the gym, you might consider doing curls to strengthen your biceps. In a similar fashion, you might look to the National Association of Minority and Women Owned Law Firms or California Minority Counsel Program if you are keen on learning more about diversity as it relates to the legal industry.

Bar Associations are a great place to start and offer a variety of groups linked by geography (i.e. Bar Association of San Francisco or State Bar of California), specialization (i.e. American Intellectual Property Law Association) and cultural identity (i.e. Charles Houston Bar Association or Bay Area Lawyers for Individual Freedom). Consider branching out into a specific industry, personal passion or curiosity that interests you. Don’t limit yourself to your resume. Try it until you like it, leave it if you don’t. Associations are not permanent and allow you to explore personality traits outside of your current professional experience. Search around on LinkedIn and Google or ask your colleagues, friends or clients for recommendations if you get stuck.

Quick Wins and Positive Reinforcement. Without participations, associations die. Therefore, successful groups are designed to encourage participation from the get go. You will likely be offered a volunteer opportunity or welcomed to an upcoming reception/meeting shortly after joining, DO IT! Later on in your tenure you can be more selective and carve out a position that suits you. The first few months of your membership should be dedicated to meeting the membership in order to figure out whether or not it’s a fit. Just because a pair of gym shoes looks great on the shelf, doesn’t mean they will feel good on your feet. Devote as much time as you can to attending social activities and meetings in the first few months. Seek out opportunities to write (most groups have a monthly newsletter or magazine with someone who is always looking for content), attend networking groups and mixers, attend the programs and be certain to take advantage of registration time to get a little networking in, find out if they hold an annual event and if attendance is within your budget, consider speaking on a panel.

Active participation early on will positively reinforce your business development goals and allow you to get a sense of the group, learning about the personality and organizational structure of the membership. In order to achieve a sustainable program, you must think strategically about how you allocate your time. After all, you joined the association to help with your professional career, not to supplement your personal calendar. But for now, your motto is try it, try it, try it!

The shortest distance between two points is a curvy line. While the ultimate goal of association work is to develop your book of business and sharpen your skill set, the path is never linear. A hard sell won’t work unless you join replete with sponsorship-lined pockets (a different matter entirely). Association work is a long-term commitment and the dividends are greatest for those with stamina.

Associations are team oriented sports. You are part of a group and your personal needs come second to the needs of the group. Many associations have rules that strictly regulate solicitation and, generally speaking, you’ll have an easier time making connections by staying on point. Get to know people (who they are not how they can help you) and offer your services (not on an hourly rate) to others. This is the best way to gain acceptance in an association. Once you’ve earned the trust of your peers, they will likely seek out ways to help you achieve your goals…but as a newbie, you aren’t there yet.

You get what you give. Although late-night pitch men make it seem otherwise, scientists have yet to perfect a pill that will slim you down and tone your muscle. They haven’t developed a magic pill for marketing yet either. Returns are greatest for those who put in the work…then get up the next day and do it over again. By selecting the right association, putting in the time to determine whether or not it’s a good fit and extending yourself to participate, the “work” in working out will transform into something invigorating.



Associations to consider:

Consumer Attorneys of California

Legal Marketing Association

National Association of Women Judges

Women in E-Discovery

Forensic Expert Witness Association

California Lawyers for the Arts