Interview by Stefanie Marrone
Don’t take a break from business development and marketing activities when you have downtime such as during the summer or during the holidays! These are actually great times to focus on those business development activities you always wish that you had more time to do.
We sat down with Karen Kahn, Founder and Managing Partner of Threshold Advisors, LLC, a certified coach, psychologist and consultant, to ask her for her top business development and networking tips for lawyers. Karen is the author of Daunting to Doable, a book that helps lawyers become successful at developing relationships and business through a series of small, daily actions that can be woven into the typical flow of your personal and professional life.
What should legal marketers encourage the lawyers with whom they work to do on the business development front when they have free time on their hands?
I see downtime as a critical time for refreshing (or creating) individual business development strategies. When times are slower, lawyers have time to research, read, identify ideal clients, learn about a specific industry and connect with colleagues pursuing similar markets. Doing this work when a lawyer has downtime will position them to be optimally effective during busy business development periods. Here is a list of activities I would suggest:
- WHAT—what will be the lawyers business development focus for the rest of the year? Encourage focus on a particular industry and/or reconnect with a specific list of individuals.
- WHO—who are “buyers” and “connectors” to initiate or expand relationships with. Consider these “buckets:”
- Inside the firm
- Past and current clients
- Personal/professional network
- Industry focus
- HOW—With the above list of WHOs, HOW will the attorney connect with each individual listed. This could include upcoming conferences, e-mail, travel, telephone or meetings.
What should lawyers do to network when they have downtime?
Networking over the summer tends to be informal and relaxed, so approach opportunities with that in mind. Many people don’t want to talk about business at barbecues or on the beach.
Developing business is not all about “shop talk,” it is also about getting to know people personally, including more about their personal lives, and what they like to do when they’re not working. No matter what the topic of discussion, think about how you might follow up and how you might be able to offer value to them. For example, if an individual talks about their child who is away at camp, send a note toward the end of the summer to find out how the camp experience was. If an important contact is headed to Italy on vacation, send information about a few great restaurants that you may know about. Building relationships based on a shared, fun experience can go a long way in the future—see this time as a beginning, then take it forward during the fall and over the holidays.
Can you give tips to associates and junior partners who are trying to build their books of business?
Let me start with associates: It’s never too soon to think about business development. You don’t have to bring in any business at this point but focusing on relationships for the long term will serve you well. I can’t tell you how many partners have said to me, “If I knew then what I know now I would be in a totally different position.” Here are some tips:
- Create a WHOs list organized by “relationship buckets” that consist of relationships inside the firm, every person with whom you have worked with on a matter, important personal/social relationships (especially law school friends, people you meet at professional meetings and friends who are in-house or in key corporate roles). Track these relationships so that you know where and when these contacts move. Stay in touch. Be helpful to them.
- Begin thinking about an industry on which you would enjoy focusing as you develop. This is different than your practice area. Given your level of experience, consider many industries as you work and have opportunities to learn.
- Help partners with THEIR business development activities and see how they navigate this part of their careers. For example, assist them with social media, and find articles and information that would be of interest to clients. Ask them about how and where they develop relationships.
- Make sure your head is not always “down” into the substantive work. Be alert to relationships around you.
Here are some ideas for how junior partners can bring in business:
- Develop a business development strategy immediately. A strategy based on a vision of the various components that you believe will lead to success and the individuals that will be “buyers” or connectors to “buyers” is essential. Without a clear strategy, that includes an industry focus for most practice areas, your efforts will be scattered and inefficient.
- Ask for help inside or outside of your firm to develop a cohesive plan that is based on the realities of the existing legal marketplace. Think about the various ways that business development will assist you to achieve your personal goals: income, impact, ideal way of practicing, independence, invulnerability, indulgence, etc. Keep whichever of these elements are important to you top of mind, they are your motivators and why you do this work.
- Take time for business development. Effective business development efforts can be done in just five minutes each day when you are organized.
- Finally, there is no ONE way of successfully becoming a rainmaker, only YOUR way. You don’t have to sell, ask, schmooze, go out to dinner, push, pressure, etc. You DO need to develop relationships and that can happen in any way that fits your style, comfort zone, personality, values or goals.
What do you consider the most valuable marketing and business development activities for lawyers?
There are so many it is hard to answer. Successful business development requires a few core components:
- The number of ideal “buyers” + the number of connectors to ideal “buyers”’
- The number of times you create valuable connections with these individuals
Buyers of legal services want to know that you are a good lawyer (of course, this is almost assumed), that you know their business and industry, and that you are a trustable, responsive and enjoyable person with whom to work. Authentic, sustained and valuable connections whether via e-mail, face to face or phone develops these relationships. Therefore, the most valuable activities are ones that are consistent, fit your personality, relationship style, life circumstances and values, and contain exchanges that are meaningful to you and the other person. If this sounds broad, it is. You don’t have to go to dinners, five-hour networking events or play golf. You just need to use any mechanism to have sustained, value-based relationships YOUR way.
Stefanie Marrone helps companies effectively tell their stories and find their unique voices. With more than 15 years of experience in professional services marketing, Stefanie Marrone leads the business development, marketing and communications functions for Tarter Krinsky & Drogin LLP. She has worked at some of the most prominent law firms in the world, developing and executing global revenue generating, business development, internal and external communications strategies, including media relations, branding, content marketing and corporate journalism, and multi-channel content marketing and thought leadership campaigns.