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Being a Rainmaker
Posted: Fri Feb 22, 2019 1:49 pm
by Raiden
Being a reliable associate is well and good, but for those of you who have been successful in landing clients - what have you done? From what I know, bringing in clients is a long term project that doesn't just happen after a single meeting. For the partners you work with, what do they do to bring in clients? Do you go to networking events once a month? What type of events do you look out for? I feel like I need to ignore the different bar association events where I'd just interact with attornies, and start finding events with business owners. I just wouldn't know where to start.
Re: Being a Rainmaker
Posted: Fri Feb 22, 2019 2:27 pm
by albanach
Raiden wrote:Being a reliable associate is well and good, but for those of you who have been successful in landing clients - what have you done? From what I know, bringing in clients is a long term project that doesn't just happen after a single meeting. For the partners you work with, what do they do to bring in clients? Do you go to networking events once a month? What type of events do you look out for? I feel like I need to ignore the different bar association events where I'd just interact with attornies, and start finding events with business owners. I just wouldn't know where to start.
At least for larger businesses, their work is likely to come through their in-house counsel. And guess where you find them? At bar events.
Why not teach some CLE in a developing area that would be of interest to potential clients? That way, if/when the issue arises for them, they are likely to think of you and your firm.
Of course, if you are targeting smaller businesses, then doing something similar for a business group would make sense. Or do both.
Re: Being a Rainmaker
Posted: Sat Feb 23, 2019 11:53 am
by malibustacy
Raiden wrote:Being a reliable associate is well and good, but for those of you who have been successful in landing clients - what have you done? From what I know, bringing in clients is a long term project that doesn't just happen after a single meeting. For the partners you work with, what do they do to bring in clients? Do you go to networking events once a month? What type of events do you look out for? I feel like I need to ignore the different bar association events where I'd just interact with attornies, and start finding events with business owners. I just wouldn't know where to start.
What value do you bring to the table for your potential "clients"? Probably very little as an associate.
Being confident and talking to the right people only works when you have something to offer.
Re: Being a Rainmaker
Posted: Sat Feb 23, 2019 5:05 pm
by Bllljd115
IME, most clients come from long-term relationships, either your personal network, former colleagues at the firm, or more junior in-house lawyers who get more senior.
Keep in touch with people from law school, former colleagues, and former in-house lawyers you worked with closely. Check-in with them every six months or so, try to have lunch or coffee. Resist the urge to blow off making plans so you can go home and rest and recharge (you will never have enough time in biglaw for this stuff). Eventually those relationships might mature into client relationships.
If you want to try to network into a client relationship, I'd join a bar committee or something rather than try to go to bar events. Referral/conflict work is a huge source of work especially for newer partners who can't directly threaten an existing rainmaker's business.
Re: Being a Rainmaker
Posted: Sat Feb 23, 2019 5:35 pm
by gaddockteeg
MAKE FRIENDS WITH YOUR COLLEAGUES. Your law school friends, your summer associate cohort, junior associates who work for you, make friends with all of them. When you become a senior associate, many of these folks will be in-house counsel and they will give you business.
In addition, genuine friendships will always be better than random CLE stuff. Why? Because the junior partner or senior partner who inevitably gets involved will not be able to steal your client from you. I can't tell you how many senior associates and junior nonequity partners I've seen have major matters swiped from them and have the origination credit fall to a senior partner.
Re: Being a Rainmaker
Posted: Sat Feb 23, 2019 6:09 pm
by Anonymous User
True most clients come after developing a long term relationship. Our partner in my group just brought us in a deal after working on developing a relationship for 3 years.
Re: Being a Rainmaker
Posted: Sat Feb 23, 2019 9:27 pm
by Anonymous User
I work at a very busy, small law firm. My boss brings in over $35,000 a week, and has associates and paralegals under him doing legal work. The budget for advertising is very large for a small firm, he advertises in every way you can basically think a law firm could. The firm's always trying to grow, to get busier and busier. Rarely turns down clients. This gets the firm's name out there to the masses, and gets them into the firm. The firm has a team of full-time employees who's job it is to market in every way you can think.
Re: Being a Rainmaker
Posted: Mon Feb 25, 2019 2:45 pm
by nealric
As a client, I'd say there are three main ways to bring in business:
1) Be friends with the right people.
2) Inherit a book from a retiring partner.
3) Develop a good reputation within your field so that people think of you when they need counsel. This is the hardest, but also the most reliable.
Just handing out a lot of business cards at bar events isn't going to do anything for you if your reputation is not good. Likewise, giving CLEs won't do much for you if they do not demonstrate unique and high-level expertise. Methods one and three can be combined to an extent- it's a good idea to keep in touch with every lawyer you know. The more people you are friends with, the more someone is likely to refer business. Even inheriting a book requires some action on your part- you do have to convince the client it's worth sticking with you after their relationship partner leaves.
Finally, success begets success. Once you get a reputation for being the "go to" for handling a certain type of matter, referrals and clients seeking you out tend to snowball.
Re: Being a Rainmaker
Posted: Mon Feb 25, 2019 2:47 pm
by nealric
Anonymous User wrote:I work at a very busy, small law firm. My boss brings in over $35,000 a week, and has associates and paralegals under him doing legal work. The budget for advertising is very large for a small firm, he advertises in every way you can basically think a law firm could. The firm's always trying to grow, to get busier and busier. Rarely turns down clients. This gets the firm's name out there to the masses, and gets them into the firm. The firm has a team of full-time employees who's job it is to market in every way you can think.
This reminds me of an addition to my post above: if you are marketing to individuals (i.e. not biglaw clients), public advertising comes into play. This requires capital and a staff that can help you handle the volume.
Re: Being a Rainmaker
Posted: Wed Feb 27, 2019 3:00 am
by Anonymous User
nealric wrote:Anonymous User wrote:I work at a very busy, small law firm. My boss brings in over $35,000 a week, and has associates and paralegals under him doing legal work. The budget for advertising is very large for a small firm, he advertises in every way you can basically think a law firm could. The firm's always trying to grow, to get busier and busier. Rarely turns down clients. This gets the firm's name out there to the masses, and gets them into the firm. The firm has a team of full-time employees who's job it is to market in every way you can think.
This reminds me of an addition to my post above: if you are marketing to individuals (i.e. not biglaw clients), public advertising comes into play. This requires capital and a staff that can help you handle the volume.
I'm the Anonymous person you quoted. The one thing I have picked up at this firm business wise is if you market aggressively enough, nothing else really matters (if all you're concerned about is bringing in a stream of business). Marketing is done aggressively enough that the main attorney is known throughout the state with regular people for what he does. This person has gotten bad online reviews, there's turnover at the firm, bar complaint etc. Business keeps on coming in because the marketing is there.
Prior to working here I always thought it was referrals, or doing CLEs, and developing a rep. But here, I've learned how important marketing is in a really crowded market. But very few people risk such a large investment into marketing.