An Inside Job: Business Development for Associates
ALM Media
Updated
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For many years, it was widely accepted that law schools failed to teach practice management and business development skills that are essential for lawyers to learn to become successful. Things have changed significantly in recent years.
Law schools are implementing curriculum and programs that address the business issues law students will face when they become practicing lawyers. While this is a big step forward, and students are graduating more prepared than ever before, the reality is that most aspects of business development cannot be taught in the classroom.
The skills attorneys must practice to develop a book of business must be acquired in the real world, through observation, trial and error. Especially error. Yes, business development is mostly about failure, which is one of the main reasons that many lawyers, who are competitive and like to win, don’t relish the business development process.
If you talk to any successful professional who consistently engages in business development activity, they will tell you that they lose the sale far more often than they win it. But there’s a bright side to losing. With every failure comes the chance to learn and adapt. Experienced attorneys are not discouraged by unsuccessful efforts. They see each “failure” as an opportunity to get better and draw lessons from the experience to help guide their future actions. This shift, which requires a growth mindset, leads to more business development activity, not less, and ultimately more success.
For young, relatively inexperienced attorneys at law firms with high billing rates and sophisticated corporate clients, the challenge is that most are not in a position to be pitching their services. They haven’t yet developed the skill set, judgment and management skills necessary to develop business at this level. Spending much, if any, precious time chasing work during one’s first few years of practice is a misallocation of resources.
Focus on the Little Things
You will have to develop business at some point to advance and make partner, but you don’t want to spin your wheels going after business you will never catch. At this point in your career, you’re just getting comfortable playing a supporting role to other attorneys, and you are not ready to be the headliner just yet. Learn to do the little things well before worrying about the big things. It’s often the little things that make the biggest difference.
Brian McCarthy is the managing partner of the Los Angeles office of Skadden, Arps, Slate, Meagher & Flom. As part of the research for my most recent book, I spoke to McCarthy about the steps he took to stand out as a young lawyer, and he shared a story that punctuates the importance of focusing on the little things.
Early in his career, McCarthy worked on a deal with a partner who was perceived to be difficult. Rather than accepting the challenging nature of the working relationship, McCarthy set out to improve it. An opportunity for improvement arose when the partner went out of town and McCarthy took it upon himself to read all of the major newspapers and clip out (yes, pre-internet days) every news story that he could find that mentioned the partner’s clients. He assembled the news stories in a binder and had them waiting for the partner upon his return so that when he came back to the office he was thoroughly up to speed. By taking the initiative, the partner’s perception of McCarthy and the dynamic of their working relationship changed dramatically.
Instead of focusing on solving the problems of someone outside of the firm, McCarthy looked for an opportunity to serve someone within the firm, which allowed him to impress an influential
partner in the firm. This story highlights an important principle for young lawyers: While most experienced attorneys should engage in lots of entrepreneurship with a focus on developing relationships outside of the firm, junior attorneys should actively engage in entrepreneurship with their colleagues inside the firm. McCarthy’s experience assembling news clippings that mentioned a partner’s clients is an excellent example of this type of internal entrepreneurship. It’s called “intrapreneurship.”
Intrapreneurship in this context is a focus on personal brand-building activities within a law firm. It means elevating your reputation among colleagues through internally focused initiatives. It’s engaging in activities that allow you to hone the skills and characteristics, such as strong writing and presentation skills, good judgment and confidence that you will need when it’s time to compete for work in the business world.
Accordingly, if partnership is your objective, your intrapreneurial activities will give your colleagues—who are often geographically dispersed—a better understanding of you than by mere impersonal metrics such as hours billed and fees generated. They’ll be more likely to want to staff you on their engagements, include you when it comes time to pitch client work and be aware of your strengths when called upon to make decisions related to your advancement within the firm.
Focusing on intrapreneurship reflects an understanding of how business gets generated by most lawyers at law firms. Obviously, business comes from relationships with potential clients and referral sources outside of the firm. But lawyers can also generate a great deal of business from colleagues within their firms.
For example, lawyers will leave your firm to go to another one and become referral sources. Others will go in-house and be in a position to send you business directly. Build a strong reputation among your colleagues and someday you may work for them in an attorney-client engagement. Impress lots of people internally, and you’ll be well-positioned to inherit clients from other lawyers when they retire, move in-house, or otherwise transition out of the firm. The more people you reach through your intrapreneurial activities, the stronger your brand will be and the more success you’ll have.
Intrapreneurship Requires Hard Work and Creativity
There are countless ways to practice intrapreneurship and build your personal brand within your law firm. Here are a few ideas.
Most firms have associate committees. Get involved.
Pro bono opportunities are abundant, and pro bono success stories get celebrated within most firms. Take on a matter and do an excellent job.
Firms publish numerous newsletters and blogs but often lack writing and editing resources to keep up with demands for content. Write great content yourself. Better yet, co-author an article with a partner and take charge of the process.
Many firms utilize outdated or inefficient processes or procedures when it comes to things like project management and internal and external communication. Come up with an innovative alternative.
Most associates hunker down in their offices, waiting for opportunities to find them. Seek them out instead by walking the halls and interacting with partners. Find out who is pitching for work and offer to help out.
There are countless training and educational opportunities for associates at most firms. Learn and grow.
Firms are filled with smart, ambitious people who can support your career. Build a scene.
All firms have rainmakers who have business development figured out. Network with them, observe them and mimic their habits and behaviors.
Like McCarthy, look for opportunities to keep colleagues informed about a client or an industry. Become a valuable resource.
You may not be seasoned enough to generate business from a Fortune 500 company at this point in your career, but there are plenty of opportunities to be an intrapreneur and add value within your firm. Get active and involved. This will serve you well when you’re ready to start developing your own book of business.
Jay Harrington is an executive coach and trainer for lawyers and law firms, and is the author of the new book, “The Essential Associate: Step Up, Stand Out, and Rise to the Top as a Young Lawyer.” He is the owner of Harrington Communications, and is associated with Simier Partners. Contact him at jay@hcommunications.biz.
