Business Development

The competition for legal clients is fierce. Yet, despite its critical importance to law firm survival, new lawyers enter their professional life with no knowledge about how to develop business. A step by step learning process that begins at the new associate level is optimal for the gradual, high impact development of a rainmaker. In addition, firms need to funnel their lawyers toward strategic thinking that reflects current, and even projected, business trends. Success-seeking lawyers must understand concepts such as how to: generate sustained, valuable relationships inside and outside of the firm; become deeply involved with an industry niche; understand clients’ business challenges; possess habits that enable daily attention to business development; and expand business through involving firm colleagues from different practice areas. Further business development efforts are optimized when tailored to fit each attorney or groups of attorneys who possess similar goals. When a firm has an overall business development culture with a clear, well-communicated, firm-wide strategy, common ways of talking about and approaching business opportunities, and a philosophy of what is good for one is good for all, individuals are engaged and revenue can flourish.

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