10 Habits of Highly Effective Law Firm Rainmakers
Every lawyer can be a rainmaker. Just like everyone can be in shape. It takes discipline, organization and repetition to see results. Here’s what the rainmakers do and #1 is absolutely the top tip:
- Keep a list of 50-100 active contacts. Staying in touch with a specific number of contacts (clients, referral sources, prospects) on a regular basis yields results. Being organized about whom you stay connected to is critical. No one can keep all this info in their head. How you stay connected is based on your personality and style. One size doesn’t have to fit all.
- Develop three or more contacts at each client and prospect location. This will help to insure that when a contact leaves you are not shut out with them, but rather, have opportunities with the others.
- Stay visible. If you can bring something to a client in person, do it. Nothing replaces face to face. Conduct video conference with contacts and clients from afar if in person visits are not always feasible. If you are trying to move the sales process along, it doesn’t always work as well by email.
- Connect with contacts to build relationships. Send quick emails or make quick phone calls to comment on something you know is of interest to them. E.g., “Great win last night with Michigan State,” or “Hope you have a good day today on your birthday.” Direct versus through LinkedIn or other social media, is a nicer touch and will be appreciated.
- Repurpose information. If you read a good business article in the Journal or other business focused publication, use LinkedIn to send to your contacts and write a note with it.
- Recognize referrals. Whether it’s a referral from a lawyer at your firm, a client or another referral source AND whether you actually obtained a new engagement or not, recognize the referrals with a small gift—a handwritten note on personal stationery, a $25 gift card to a coffee shop or something more important like a great bottle of wine, or a gift certificate to a restaurant. You will likely receive more referrals.
- Introduce contacts to one another. Be a “connector.”
- Proactively meet with clients for reviews once a year or more often. Clients see you are part of their team and appreciate the proactive counsel and planning opportunity.
- Manage client relationships. When you are busy delegating work to others, check in with the client at least quarterly to make sure the client is happy with the team doing the work. This is one of the most successful client retention strategies you have.
- Plan your pipeline. See my partner Craig’s most recent post about pipeline management. The most successful rainmakers are always aware of their pipeline and YTD sales revenue numbers.