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We give personal
rainmaking coaching to law firm partners and exclusive
recruiting services to law firm management by focusing on each
law firm's most driving need: originating new matters.
Visit our web site
at www.mentoringpros.com to learn
more about who we are. Our newsletter is a self-help
rainmaking guide, with related legal practice
news. Jerry
Sears | |
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RAINMAKING
The real reason new clients hire
you.
Ask
yourself this question: do you agree that trust is a key to
clients retaining you? If so, what are the elements of that
trust? The first two are trust in your competence and in
your commitment to honoring your contract with them. However,
those are experiential. After using you on a matter they can
come to their own conclusion.
The
third is communication trust...that's the one that gets you
the clients. It's based on how people perceive you, which is
mostly up to you. You cause their perception based on how you
present yourself...are you open, positive and constructive?
If you think that being 'open'
means admiring the big fish hanging on the wall of his office,
then see a more detailed description of the Reina Trust model
by clicking at the end of the next paragraph.
So, what about being
open?
We all think we're
open, But, our belief comes from our same mind that determines
our degree of openness. I've interviewed the most closed,
taciturn, and introverted attorneys imaginable. They all
believe they're "open." So, asking them is like asking
them, or their mother, for a personal reference. It's your
openness that inspires confidence in others. The strong,
silent type is only effective in the movies.
In short, your "openness"
is a critical part of clients believing that you both trust
and like them. This is a key to making rain...open, two- way
communication.
The
"Reina Trust" model breaks trust down into three types. Follow
this link to learn
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"WHO STOLE MY PARTNER?" by Jerry
Sears
Chapter 7
WILL BRAD
LATERAL TO A NEW FIRM?
For those who don't remember
the close of last month's adventure, here it
is:
Jerry said, "Brad's disadvantages
are that he and Dave are like nitro and glycerin and I don't
see that ending ... in short, Dave is what I believe in the
law is technically called ‘semi-dysfunctional' or maybe even
completely so, and it's up to you to fix that since you're the
only one who can ... second, Brad doesn't have as big a book
as you'd like, but then most laterals seldom do ... third, is
the lingering doubts about him from that unfortunate incident
when you originally interviewed him ... about his not
understanding the need to be open about his
book."
Paul's friendly smile said
it all, but he added, "None of them are perfect, are
they?"
Jerry said, "Nope none of
them ... present company excluded of course ... we've been
building this law firm for a long time, Paul. Have we ever
found the perfect candidate? I'll see what I can do about
Brad, if Dave hasn't made him too
disenchanted."
Jerry called Brad that
afternoon and suggested they get together as soon as possible.
Brad voice was guarded, "I
don't know, Jerry, their timing is murky to say the least,
they guard their equity partnerships like they are the crown
jewels and well ... then there's Dave ... I mean why would
anybody voluntarily work with that guy ... plus I've got a lot
of other issues."
Jerry
said, "Brad, it's in your self interest to keep all three of
these firms alive. You never know what will happen. Today's
dog may be tomorrow's hero. If it turns out that all three of
them don't have what I t takes, we can work with others. But
in the meantime you'll increase your awareness of what you
really want by going through this
process."
The anger in
Brad's voice came through when he said, "I know what I don't
want and that's Dave as a
partner."
"I have some
information for you on that score. That's one reason why I'm
suggesting getting
together."
Brad abruptly
said, "OK, seven tomorrow morning at Herb's Cafeteria" and
then he hung up.
Brad was
already there, carefully going over a print out of his
comparison spreadsheet, when Jerry arrived. He looked up and
said, "Look at these comparisons Jerry. I've made a one to ten
rating for the same thirty criteria for each of the three
firms."
Jerry reviewed it
and said, "They're each good firms. It's amazing how Dave's
poor rating drags down Paul's firm to the lowest rating of the
three, whereas without it, they would clearly have the best
rating. It shows how important personal chemistry is in these
lateral decisions."
Brad
said, "There's nothing we can do to change Dave from affecting
the ratings. He's just a
jerk."
Jerry said, "Your
right. He is a jerk. He's like any nutty judge without power
who then is just a pompous control freak. Let's talk about
it."
Follow
this link for the rest of the
story>>>> | |
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RAINMAKING - YOUR FIRM
How important is
your firm to your becoming a
rainmaker?
Just
because firms pay you to bill your time, doesn't mean that
selling isn't something you should be doing. Measure how much:
origination credit, pressure to originate or help originating,
you get. Those are all tangible signs of the firm's desire
that you be a rainmaker. If the firm isn't supportive there
are still some ways you can develop business. They result from
how you handle yourself
day-to-day.
Most
knowledgeable people would answer that if the Firm puts a
practical lid on your ability to get clients, it is very
important, but only as a limitation. But, if they don't put on
that lid, then the rest is up to you. A lid means the firm
doesn't permit you the time to get clients or compensate you
after you have gotten
them.
Follow
this link to read an look at an interesting article on this
subject.
LAW FIRM MARKETING
Whatever happened to the
function of law firm
"marketing"?
A
survey last year of 277 respondents by Hertzog Research showed
that almost 60% of top administrative "marketers" in law
firms had been in their current job for two years or less. And
only about 19% had been in the job for five years or more. The
American Lawyer reported that nine major firm marketing
directors had recently changed jobs and that seven other big
firms were in the process of finding a new top marketing
person.
Within the last few
years the definition of a law firm "marketing coordinator" has
changed dramatically, It used to be a quite young, attractive
woman whose college degree was in "marketing". She combined
this degree with her willingness follow the managing
partner's directions as to "marketing" tasks. That
combination made her an inexpensive answer to the
partnership's wish for someone in
"marketing".
It's now become
evident that the difference between results from this kind of
"marketing" and a sales effort by seasoned people, attorneys
or not, is like the difference between the sizzle and the
steak.
Follow
this link for the summary of the American Lawyer survey of law
firm marketing support
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OUR NEW RAINMAKING COACHING
It helps you makes
rain!
In
over twenty years as attorney recruiters we've helped over
1,000 attorneys achieve their rainmaking objectives. In that
time we have developed experience about what works and what
doesn't.
What works is for
the attorney to understand what it is about himself that
prevents him from being a formidable rainmaker. That includes
his: attitude, beliefs, behaviors and values. Examples of
being positive are being: receptive, warm, open, real,
forthcoming, etc.
What
doesn't work is to blame it on that myriad of "others" out
there, such as: the firm, the market, the clients, etc. It
also doesn't work to put the blame on his "lack of knowledge"
about what to do. We've yet to find an attorney who, after
college, law school and five or more years of practice doesn't
know, at some level, what to do. Doing it is the
problem.
The firm may not be
the most supportive...the market may be quite competitive...
time may be limited. But, in the final analysis it's up to the
attorney. We show the attorney what to do about himself...how
his actions will bring in clients and how he can develop those
actions.
We coach the
rainmaking attorney in a compassionate, warm way. We show him
a life long set of skills. After he has them, he owns them.
He, his skills and his clients are his to enjoy. This coaching
works, if he's willing to work as well. Our only coaching
specialty is in rainmaking. In most instances the firm pays
our modest fee for this one-on-one
coaching.
1. Follow
this link If you'd like to read
more.
2. Follow
this link for a BROADCAST on THE CHARACTERISTICS OF A
RAINMAKER. | |
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RAINMAKING
OBSTACLES
What's the rainmaking difference between
"knowing what to do" and "doing
it?"
Those who
know are like someone who, when, as and if, presented with the
opportunity to be a lover could recite the necessary
mechanical steps. The difference is that the rainmaker is an
experienced, artful lover. In order to go from knowing to
doing, one has to practice. That's where the rubber meets the
road.
Practice means doing each
step in the process with a skilled helper at your side. There
is no substitute for doing it with guidance. If
you'd like to see a great sports analogy on this subject,
follow this link.
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COACHING
NEWS
Who's
using coaching?
Because general coaching is already widely used by executives
in the corporate world, we took a look at the Manchester study
of 100 corporate executives who completed a specific coaching
experience. This study showed that 86% reported they were
either very satisfied or extremely satisfied by the process
and 73% reported they achieved their goals effectively or very
effectively through
coaching.
Coaching has
become widely used by senior management in industry. The
leading coaching industry association membership has doubled
in the last two years. There are no statistics on its use in
law firms. However, we see a rapid ramp up in the field of
rainmaking coaching... if for no other reason than
rainmaking skills aren't yet a credit subject in law school.
We're not general coaches. We coach professionals on how they
can make rain. That is our specialty.
Follow
this link to read more on Coaching Statistics.
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INTERESTING LAW FIRM
BUSINESS NEWS
What's the
major law firm cost cutting move this
month?
Office Tiger with about 1,600
back office administrative workers, mostly in India, has
signed both Milbank and London's Allen & Overy to take
over parts of their back office functions. They also signed a
deal with Hildebrandt to offer the service as a JV to other
U.S. law firms.
It's a
sign of the increasing pressure on law firm's bottom line
resulting from continued reorganization and consolidation.
Reported savings from such support outsourcing appear to be in
the 30% to 60%
range.
Follow this link for more
info.
THE LAW FIRM JOB
MARKET
How
stable is the professional job market? This is closely related
to the market for attorneys.
ExecuNet, an
important service in the executive recruiting field, has just
released its study results of just under 1,000 executives.
These results are important to attorneys who 1] don't have a
book of business (a rainmaker always has offers) or 2] who are
or want to be in house.
The study shows a 13%
increase over 2003 in those who are "concerned about their
present job or career" The most cited cause for concern were:
1] merger or downsizing, (22%) 2] limited advancement (17%)
and poor firm prospects (16%).
It must be
frustrating for them, being at someone else's mercy, because
they don't have their own book of business.
There are a couple of
more key answers from this key study, they are: How actively
are executives looking to leave their current firm? Of
currently employed executives, 38% are seeking to leave their
current position.
What are they looking for in a new
position?
Increased
responsibility
(40%)
When you have a client base you determine your
degree of
responsibility.
Increased
compensation
(17%)
You also determine your own
compensation.
Increased job
security
(15%)
Your
clients are your job
security.
Better firm
culture
(10%)
With a book you pick the firm culture you want.
Here's
a great article on personal career
management.
THE LEGAL
INDUSTRY
What's hot and what's
not?
What comes around goes around, or something like that. The
Recorder reports the Bio 2004 Conference in San Francisco had
law firms as one of the major presences. Bio IP and
transactional work is picking up substantially as VC money is
flowing back in. Do you remember when this practice area
nosedived three years ago?
This is
an example of how cyclical practice areas can be. Rainmaking
skills however, stay with you. But, it's also a good
example of how aggressively law firms use conferences to
sell.
Follow this link to read the full
article.
(C) 2003. 2004. Sears & Associates.
All Rights Reserved.
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www.mentoringpros.com jerry@mentoringpros.com Phone: (561) 638-4750
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