Q. I have been practicing law for 12 years and I am a partner with the mid-size firm that I joined right out of law school. Lately, I have been thinking I would like to move to a different firm. In talking to a few trusted colleagues at other firms, I have been a little discouraged when their first question is always, “What kind of book of business can you bring?” Do I really need a book of business before I can make a move to another firm? If so, how do I build one?
A.Your experience is not surprising. Most firms expect attorneys with more than seven or eight years of experience to bring a substantial amount of their own work with them. Depending on your practice area and the firms you are targeting, the firms may expect you to bring a partial book or even a full book (enough to cover at least your overhead and salary) before they will even consider bringing you on board as a partner.
Even if a firm were to consider you for an of counsel position or as a non-equity partner, the expectation would still be that you would have some of your own work. Under this type of arrangement, you would generally have two years to build your own practice before being considered for equity partnership. And, under the terms of most of counsel or non-equity partner agreements, when an attorney does not generate her own clients within two years, not only does she not make partner, but she is often asked to leave the firm.
If you are serious about wanting to explore law firm options, you should be prepared to build your practice before approaching them. Then you will be in a position to look at the synergies that might exist between your practice and another firm’s existing client base.
So, where do you start with client development? The best place is generally by identifying your top five clients. These are the clients who have generated the most significant fees over the past two or three years and who would be most likely to move with you if you took your practice to another firm. Once you have identified them, you will want to develop further your relationships with them.
Often, when attorneys think about developing client relations, they immediately think about tickets to a Sonics or Mariners game. There are many other less expensive — and probably more effective — means of developing meaningful relationships with your existing clients.
One that is frequently overlooked is simply visiting the client. Many clients appreciate it when their attorney takes time out of his busy schedule to visit their office or production site to learn more about their business — without billing them for the time. This is especially true if the client has recently relocated or introduced a new production system.
Think ahead when you make plans and invite the client to lunch at a nearby restaurant (recommended by the client!) following your visit. During lunch, you will have the perfect opportunity to talk about ways in which you can better serve the client, based on observations you made at the client’s place of business.
Once you have identified and met with your five top clients, you will want to identify your top five referral sources. These are the individuals (friends, family, professionals, colleagues or clients) who regularly refer good work to you. When thinking about client development, attorneys often overlook the importance of nurturing these relationships. They are at least as important to the development of your practice as your clients.
In some practice areas that do not lend themselves to repeat business from existing clients (estate planning, family law and plaintiffs’ personal injury, for example), referral sources are essential. Think of creative ways that you can say, “Thank you.” In these busy times, taking time out of the day for lunch may not always be appreciated. Sometimes, it may be more appropriate to send a special gift basket or tickets to an event you know they would enjoy.
If you can’t identify five good referral sources, you will want to think strategically about how to create them. Who among your existing clients would be in a good position to refer additional business? Which other professionals (accountants, physicians, psychologists) have clients or patients who would be likely to need your services? Talk to these people and explore ways in which you can build a mutually beneficial referral relationship.
Next, you will want to identify five potential new clients you would like to develop over the next year to 18 months. Attorneys often make the mistake of starting a client-development plan with the idea of attracting new clients. Actually, this is the most difficult means of developing a practice. Only after you have taken care of your existing clients and referral sources should you look at bringing in new clients. Again, your existing clients and referral sources may be able to assist you in creating relationships with individuals and companies you would like to target as potential clients.
What about speaking engagements and CLEs? Certainly, it is important to give back to your professional community. But these are not generally the most direct means for developing your client base. In terms of allocating your time, you will want to devote considerably more time to nurturing your relationships with your existing clients and referral sources than to these “soft marketing” activities.
Finally, client development is not a one time or once-a-year activity. Instead, it is an ongoing process. Some of the most successful attorneys I know make an effort to incorporate at least one client-development opportunity into each day. Often it is as simple as sending an interesting newspaper clipping to a client.
Once you have successfully developed your practice, you will be in a stronger position as you explore your options. But don’t be surprised if you find that your existing firm begins to look more attractive once you take responsibility for developing your own client base.
Karen J. Summerville is a former Seattle law firm partner who now offers career counseling and outplacement services to attorneys. Karen welcomes confidential questions from readers and will answer as many as possible in her upcoming columns. She can be reached at her firm Legal Career Management by phone at 206-224-7608 or by email at kjsummer@comcast.net. Visit her Web site at www.legalcareermanagement.com.
Go Back