Pushing a firm from one of many to one off

Business development will continue to grow in importance. In time, it many even change its name to something more representative of its function – sales. But, for now, anyone who is in practice has to accept individual and collective responsibility to develop the firm.

Set out below are a series of what ifs, to refer to (at least in part) at your next team meeting. I wouldn’t expect you to get very far down the list, but, hopefully, there are enough to spirit you on your way to a new and more prosperous future.

What would happen if you were rewarded at appraisal time for business development i.e. red time was as important as green time. No doubt, you would have to be much cuter with your metrics, rather than awarding bonus points for attendance at the obligatory ‘grip and grin’ sessions. Your success would be measured by clients won, revenue generated (for the firm or team, not just you) and super-pleasing targets met.

Business development was designated of strategic importance, rather than just another ‘nice to have’ component of the day job. You might think it is already, but look at your own diary and ask yourself if it is the first thing you do every day, come what may, or does it get relegated to an also-ran in the heat of ?fee-earning?

You thought like an entrepreneur, and went to work on the business (of law) and not in the business, applying the classic technician mind-set. First and foremost, you would have to ask, are you (always) the right person to be doing each and every aspect of the job or is someone better placed than you? Too many lawyers still hoard work because of time/fee earner targets when they should have their head up and taking stock of where the firm is headed (or not).

What if ‘me first’ is replaced with ‘team first’ or better still ‘firm first’. But of course, the form of management and reward would have to change. People – and that means everyone – may not be that inspired to continually work for those at the top. ?What about a John Lewis model? Now ?we’re talking.

‘MBWA’ (Managing by Wandering Around) is taught at every level of the education process; and all lawyers were judged and monitored (if necessary) by the amount of time they spent away from their desks. As I have said for a long time, the biggest enemy of any lawyer is their desk, not lack of work or market differentiation.

Hair’s breadth

Excellence as a service standard meant something. If it is to appear more than a limp label, it has to be backed up with a meaningful service standard i.e. if we don’t meet our excellence standard then we offer a 100 per cent money back guarantee, no questions answered.

Listening was a learned skill. Not the sort ?of trite listening that goes on while subject to a recitation of Kipling’s Six Honest Men, but empathic listening.

The language of choice in correspondence, marketing material and websites didn’t allow the ego to roam free, but was written from the client’s perspective. How few times do law firms actually stop to ask their clients if they like the style, sense and meaning of what they have written?

What would happen if firms got rid of the holy grail of the hourly rate? As the market becomes more consumer focused, it won’t be a nice thing to have but a necessity. Once clients have the benefit of price comparison sites or the benefit of 30+ reviews on Google Places, then they will vote with their wallets at a rate that few firms are prepared for.

Every firm waxes lyrical about its specialism and expertise, but they know that there is but a hair’s breadth between them and their nearest competitor. Firms must know their why from their how from their what. Until more firms address the why and have a better stab at the how, we will continue to see a slew of copycat websites, brochures and events.

Likewise with listening, lawyers should look more closely at the whole of issue of trust. Too much time is focused at the external – which really is the sine qua non of being a lawyer – but not nearly enough time at the internal. There are too many instances where fellow fee earners do not trust fellow fee earners, to the detriment of the client. Firms have to look beyond exhortation, and perhaps consider a proper training plan designed to build self and relationship trust from within (see The Speed of Trust by Stephen M R Covey).

Push, push, push

It might sound strange to posit open plan working, but too many firms are locked into a silo mentality as much mentally as physically. Getting rid of the internal barriers starts as much with cross-functional working, as it does the physical space.

What if firms understood that business development was a long term project, and not one based on instant results. Every firm should have a plan for the next 18 months, if not longer. It should be focused on a vertical-led marketing approach, and not trying to be all things to all people.

And, finally, a bit of sales training wouldn’t go amiss. The softly, softly marketing led approach has to be backed up with a cohort of people who are capable of asking for the business. If you can’t then no amount of wishful thinking will turn a prospect into a client.

Business development above all else requires persistence, determination and ?a high level of emotional intelligence. Success begets success which means you have to stay on the trail, meeting with people, networking and eventually asking for the business.

While the term rainmaker is still in common use, perhaps we will see the rise of more specialists in this area (key account managers, client relationship specialists) but only if firms make sure that at least some of the above is addressed.