What is the secret to successful business development for lawyers? Plan for success.
Creating the Plan
The first and most important step in creating a successful business development plan is spending time thinking about your interests, strengths and values and what you want for your career and your practice. This is not an easy task for lawyers. They are more likely to see value in spending time thinking about their clients’ needs and wants. However, this kind of self-reflection is invaluable -if you are able to align your career with your interests, strengths and values, you are much more likely to be happy and successful.
Outlining a SMART Plan
Once you have thought through the goals for your career and practice, the next step is developing a business development strategy and plan setting out SMART steps to get you there. SMART is an acronym for:
- Specific
- Measurable
- Achievable
- Relevant
- Time-based
Specific
Your plan should be very specific about what you will do to accomplish your goals. Being specific will allow you to focus your business development efforts in a laser-like way and to spend your time (which is always in short supply) as efficiently as possible. If part of your plan involves building your profile in an area, be very specific as to how you will do it (eg. list specific publishing or speaking opportunities that you will pursue.)
Measurable
Having specific measures as to when the plan has been successful is important so that you see progress and are motivated to continue. This is particularly important for lawyers who tend not to recognize what they have accomplished. When lawyers achieve a particular goal, they just see what more can be done and move the goalposts further away.
Achievable and Relevant
Obviously, you set yourself up for disappointment if your plan contains things that are not achievable or, if achieved, won’t move you closer to your goals.
Time-based
It is essential to set out in your plan what you will do when. Lawyers respond well to deadlines (it is an occupational requirement, after all) but will let drift things that are not time-sensitive. Set out specific goals for a quarter, a year and two years and the specific steps that you will take in those time periods (eg. send key clients email updates on relevant legal developments every quarter).
Don’t Go it Alone
Lawyers excel at assessing when a client would benefit from outside help. While being good at getting the right help for others, lawyers tend not to seek help for themselves.
Having support as you develop your business development plan is very beneficial. That help can take many forms. Speaking to colleagues and clients can help you identify your strengths to build on in the plan. Discussing your business development plan (and your need for resources) with firm/group management will help you assess whether your plan is achievable. Using an internal or external business development coach is valuable too. They can assist with ideas and advice on how to develop and perfect a business development plan and to provide support by way of encouragement, suggestions and discipline in the plan’s execution.
Interested in learning more about coaching? Take advantage of a complimentary half hour coaching session from Potentia. Please contact us at info@potentiacoaching.ca.