My Night with a Few
MULTIMILLION DOLLAR Well — it wasn’t exactly a night, but I know I have your attention now!
In the last few months, I have had conversations with four multimillion-dollar rainmakers from firms of various sizes. They ranged in age from 50-65. I mention their ages because several times, they reminded me that nothing happened to them overnight, and indeed “slow and steady” most certainly did win the race for them. Their books of business range from $2 million to over $25 million. I thought I would share with you some of their best tips and some observations of my own.
By Stacy Clark Stacy West Clark has been helping Pennsylvania lawyers and law firms expand their practices for 25 years. She is a former attorney with Morgan, Lewis & Bockius and was its first marketing director. She is president of Stacy Clark Marketing (www.stacyclarkmarketing.com). Reprint permission from Stacy West Clark. The Legal Intelligencer©.
Tip: View your role as a lawyer who needs to bring in business to the firm and your partners — not to yourself. More than anything else, lawyers who look to cross-sell a client to other sections and lawyers in their firm quite simply make more money. It’s easy to understand why. There is only so much you can bill as an individual. So ... if you focus on having the client served by numerous lawyers in your firm, your revenue numbers will grow. And importantly, the more practice groups handling matters for your client, the less likely it is that the client will leave. Remember, to successfully sell your firm and your partners, you need to figure out what they do, whether they are any good at it and whether the client needs that expertise. Observation: Early on in their careers, these million-dollar babies all decided to pursue a hobby, which turned into a passion. One took up golf, another, tennis, and still another took up supporting the arts. These lawyers took up these interests because they really enjoyed them — not at all initially for business development purposes. But because they chose endeavors they really loved, each was able to use the activity very successfully to develop business.