FEBRUARY 2004

  1. Who Stole my Partner?
  2. Attorney Business Plans
  3. Selling Professional Services
  4. Online Broadcasts
  5. Stories about Rainmaking

LATERALS provides 11,176 law firm partners with monthly information on recruiting and rainmaking issues. We are attorney recruiters who have lateraled and/or merged over 1,000 attorneys since 1979.  As a result, LATERALS is about the real world of lateraling and rainmaking.

Visit the Sears & Associates web site at www.mentoringpros.com. Visit our Media Center to learn more about our online seminars, pre-recorded broadcasts and publications.  Learn what the New York Law Journal had to say about my book, "Making Rain" and download its first three chapters.

NEW BOOK: PRE-PUBLICATION. CHAPTER 4
"WHO STOLE MY PARTNER?
This story is about the process of lateraling. It follows our hero, Brad, and the new law firm's management.  The story takes them through their decision making process as well as their secret interviews.  This is the pre-publication serialization of Jerry's new book, "Who Stole my Partner?"

Do you remember where we left off last month? If not here's the ending:

     Jerry could feel the new chilling tone in the relationship.  
     Brad looked at his watch and said, "Gosh, it's later than I thought, I really have to get to the office."
     Jerry didn't do anything to stop him. Rather, he said, "I understand, Brad. Why don't you go ahead. Dave and I will wrap it up."
     Brad got up, gave Dave a quick handshake and left. Dave and Jerry watched him go in silence.
     Dave said, "I blew it, didn't I?"

    Jerry said, "Don't let it kill your appetite. Let's finish Herb's Deluxe Breakfast. How do you like it?
     "I've got to confess it's a hell of a lot better than the breakfast at that fancy hotel where we barely escaped this morning ... and the price is right too."
     Jerry said, "It is better on both counts. I've been holding these secret lateraling meetings here at Herb's for years. He's got the best breakfast in town."
     Dave said, "OK, Jerry, but lets get back to the subject. I felt I needed to protect the Firm' confidential information until we were sure Brad was going to join us. What's wrong with that?"
     Jerry said, "I don't think there's anything 'wrong' with it, except the assumption on which it's based. It presupposes that Brad, or someone like him, is seeking to do in your Firm."
     "Well, I don't think they are necessarily going to ... but they could use it against us."
     Jerry said, "Yep, they could. But let me give you an analogy. You said you really enjoyed Herb's Deluxe Breakfast, right?"
     "Sure, but I don't see what this Herb's Breakfast has to do with my protecting my law Firm from unfair competition."
     "Take another look at Herb's sign over the ordering counter."
     They both looked at the huge sign, which said:
     "HERB'S FAST FOOD, NO CREDIT SO DON'T ASK, PAY IN ADVANCE, SELF SERVICE, ORDER BY NUMBER, NO SUBSTITUTIONS"
     Dave said, "I don't get it."
     Jerry said, "I've been coming in here for years. Herb started out with a sign that just said, 'HERB'S FAST FOOD'.  Then a few people stiffed him, so he put up a hand painted 'NO CREDIT' sign. But then his long time customers, to whom he used to extend credit, kept asking for it so he added a real negative hand painted 'SO DON'T ASK'. 

TO CONTINUE READING THE STORY >>>>>>

MAKING RAIN
WHAT MAKES A LAWYER'S BUSINESS PLAN THAT WORKS?

An attorney's view of law practice is that it's volatile and unpredictable. Business, on the other hand, views business plans as the bible that makes their success. This big divide between the two views is the result in the law of the expert also being the salesperson. Generally in industry they're different functions: sales vs. everything else.

Is there a common ground where law firms can help their partners to organize successful rainmaking efforts? We believe there is and we turn to the successful model used by industry for decades. Basically it's the quantification model. By that we mean to take each element of your rainmaking activities and look at it separately. Then put those elements together, the same way that big companies make their most successful salespeople do it.

Like the screenwriter adapting a bestseller, we just combined the best of industry into a legal, sales format.

It works! Here are some of the testimonies that it does work:

"Until reading your planning document, Business Plans were always a big mystery to me. Thanks for the guidelines." DK, California
 
"Times have changed: attorney sales skills are not only rewarded, but demanded. Until now I haven't had the tools to create a sales plan. I've been listening to your Broadcasts and I've started to "Fake it until I make it" - now I have a roadmap. Thanks.  EJ, Texas.
 
"I used your Plan; created a Stragegy; gave it to my managing partner and got the dollars that I needed -without question. Thanks."  KW, New York

GET A COPY OF OUR ATTORNEY BUSINESS PLAN, RIGHT HERE.

PROFESSIONAL SALES ACTIVITIES
SELLING LEGAL SERVICES BY USING A PROFESSIONAL RAINMAKER? or
WHEN DOES 'SALES' STOP BEING A DIRTY WORD IN THE LAW?

In the last year about 20 law firms, of various sizes, have started a sales department. This is a vastly different function from "marketing".  Sales is to marketing as eating is to cooking.  Sales produces billings. Marketing produces brochures.

This is the beginning of a multi-part series. After reading it you will be able to decide:

  • If a sales function will help your firm increase billings;
  • If you can do it economically;
  • If your Firm culture will accept it; and
  • What the economics are of a law firm sales function.

In order to answer these questions you need to ask yourself some preliminary ones. They are:

  1. How much are you willing to support sales? This means are you willing to risk the money necessary to pay a top flight person.
  2. How committed are you to the process? Commitment means seeing it through the: politics, failures and cultural changes.
  3. Are you willing and able to let the sales experts do their best, while you practice law? Generally, successful sales are as different from legal sales perceptions as its possible to be.

Sales of legal services is new in large firm private practice, but there is quite good data about what it takes from related intangible service industries. Here's some of that data. Once a full time sales program is started in a law firm, the Managing Partner is going to spend about 4% of his time on it. The average sales cycle is about 180 days. Both sales quotas and compensation programs can and must be established independent of partner compensation for "originations".

A number of current law firm programs have been quite successful indeed. Management intent and commitment is everything. Selecting, and getting, the right person to head it means putting aside most of your preconceptions about what background fits best.

STAY TUNED NEXT MONTH FOR MORE...

ONLINE AUDIO BROADCASTS

Monthly we add one or two broadcasts on Overcoming your Personal Rainmaking Obstacles. You can listen to them by downloading them directly from the Newsletter, or by visiting our Media Center at http://cl.extm.us/?fe9511757462047574-fe5413787366027a7610.

If you missed any of the previous issues of LATERALS, you can get them right here:
APRIL 2003, MAY 2003, JUNE 2003, JULY 2003, AUGUST 2003, SEPTEMBER 2003, OCTOBER 2003, NOVEMBER 2003, JANUARY 2004.

 

RAINMAKING STRATEGIES
STORIES FROM RAINMAKERS

Anonymous
U.S. Federal Judge (Retired)
STORY: "LIFE ISN'T ALWAYS SERIOUS"
LESSON: All Happenings are gifts.

Brocato, Joseph
Pedersen & Houpt
Joe is a partner with the Chicago law firm of Pedersen & Houpt. He focuses his practice on real estate and commercial transactions.
STORY: "LEARNING FROM A CHILD"
LESSON: All Happenings are gifts.

Coon, Eugene
US Marshal (Ret'd)
Gene is the former Assistant United States Marshal responsible for Operations throughout the world and is now The Director of the Air Marshall Training Academy.
STORY: "HOW DIFFERENT ARE WE"
LESSON: All Happenings are gifts.
STORY: "FRAGILE JUSTICE"
LESSON: Changing is the challenge.

Hogue, Dale
Dale is a registered patent attorney and has been practicing for over 30 years and represented US and foreign clients in most all aspects of intellectual property law.
STORY: "HONESTY"
LESSON: All problems are gifts.

Kail, Michael
Steptoe & Johnson LLP
Mike Kail has been a partner of Steptoe &Johnson, since 1978. His practice focuses on complex litigation, energy transactions and alternative dispute resolution. He is based in Washington, DC. He is currently Vice Chair of, and has served in various management positions within, the firm. 
STORY: "RELATIONSHIPS ARE EVERYTHING"LESSON: All problems are gifts.
STORY: "SELF-ESTEEM IS EVERYTHING"
LESSON: All Happenings are gifts.

Margaretten, Jeff
Margaretten Architectural
Jeff Mararetten is an architect in Destin, Florida.
STORY: "IT'S NOT ABOUT SALES, IT'S ABOUT BELIEFS"
LESSON: All problems are gifts.

McWha, Keith
Morgan & Finnegan LLP
Keith is a senior associate at Morgan & Finnegan, LLP. He specializes in intellectual property law providing a full range of intellectual property services to a broad range of clients, from Fortune 500 corporations to small, newly formed start-up companies, and individuals.
STORY: "REFUGEES"
LESSON: All Happenings are gifts.

Naemyi-Rad, PhD, Frank
Intelligent Medical Objects, Inc.
Frank is the Chief Executive Officer of a healthcare software development company involved in delivering the components to support the next generation of software applications used within the medical field.
STORY: "THE MARATHON"
LESSON: Changing is the challenge.

Ottolenghi, Hugo
Hugo is a writer and business consultant. He has worked with national news media ranging from newspapers to magazines to television. He has also provided training and other services to businesses nationally and internationally. STORY: "BUILDING TRUST"
LESSON: Changing is the challenge.

Roberts M.D., Alan
Sunshine Medical Center
Alan is the medical director of Sunshine Medical Center with offices in Miami and Ft Lauderdale, Florida. SMC provides a variety of medical services to individuals, the airline and cruise industry, municipalities and the traveling public.
STORY: "WHEN THE STUDENT IS THE TEACHER"
LESSON: All problems are gifts.

Sears, Jerry
Sears & Associates
Jerry is the Managing Partner of Sears &Associates, a national Executive Recruiting firm that specializes in placing senior partners of law firms and general counsel for companies. He is based in Delray Beach, FL. Jerry is the Editor of this Anthology.
STORY: "LOVE'S SOLUTIONS"
LESSON: All problems are gifts.

Smollar, Marvin
Retired Attorney
Marv retired from the practice of law many years ago and is a private investor living in Delray Beach, Florida.
STORY: "WONDERING"
LESSON: Understanding and Acceptance create relationships.

White, Barry
Foley Hoag LLP
Barry is a senior partner in the Boston-Washington law firm of Foley Hoag LLP, where he served until recently as managing partner for 15 years and now practices in the corporate finance, venture capital, health care and international transaction areas.
STORY: "THE FRIEND"
LESSON: Understanding and Acceptance create relationships.

Williams, Omar "Jack"
Thacher Proffitt & Wood
Jack is a partner of Thacher Proffitt &Wood a law firm based in New York City. Jack has been the Chairman of the Executive Committee and Managing Partner of the Firm for 12 years and is now a practicing partner.
STORY: "THE CRASH"
LESSON: All problems are gifts.

© 2003. Sears & Associates. All rights reserved.

Laterals is published monthly by Sears & Associates, a national attorney search firm since 1979.

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Executive Editor: Jerry Sears jerry@mentoringpros.com 
Publisher: Ellen Caravello ellen@mentoringpros.com 
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Sears & Associates
RECRUITING AND DEVELOPING RAINMAKERS SINCE 1979
Delray Beach, FL USA
(561) 638-4750 phone
(561) 637-6585 fax
Web Site: http://www.mentoringpros.com