Gender and Business Development: 6 Predictors of High Originations for Women Lawyers – Part I

By

Terrie S. Wheeler, MBC, Founder

Vanessa K. Townsend, Esq.

www.MarketYourLawPractice.com

More women have been graduating from law schools and becoming associates at law firms, with almost half of law degrees now going to women. Yet there is still a significant gender gap at the partner level of most law firms due to women dropping out of the partner track or leaving the field of law entirely. At the same time, law firms have been changing the way they approach business development—shifting away from relying on a few rainmakers to expecting all senior associates and partners to contribute to new business development. Because business generation is now a significant factor in determining which associates will advance and become partners, business development is a key skill for women lawyers who want to succeed.

Harry Keshet, Ph.D. is a social researcher and marketing consultant who has worked with law firms for over 30 years. In 2007, Dr. Keshet designed and conducted the Women Attorneys Business Development Study with the goal of discovering the activities, attitudes, and organizational factors leading to high origination among women attorneys. The study used a large, national sample of 423 women attorneys, 85% of whom were working full time and more than 50% of whom were equity or non-equity partners. Average origination dollars for the year 2005 for the women was $338,653 with the highest origination at $4 million.

The study found that there were 6 predictors of high originations for women lawyers.  This blog post addresses the first two predictors: years of legal experience, and time spent doing business development each month:

1) Years of legal practice

The single best predictor of business development success for women lawyers was the number of years they had been in practice. As women develop their career, they build both legal and marketing expertise that helps them succeed. As their legal skill grows, so does their confidence and reputation and they increase participation in community organizations, pitch groups, and referral networks that help them grow their practice.

However, with more women leaving the practice of law, fewer women are gaining the years of experience that lead to business development success. Further, business development and origination are now being expected earlier in lawyers’ careers as firms shift away from the rainmaker business model. So what can young women lawyers do to hone their business development skills earlier in their careers?

  • Develop Your Practice: first and foremost, a young woman attorney, like any new associate, must focus on developing her legal expertise. At the same time, however, she can and should practice providing outstanding service to clients and to the partners with whom she works
  • Focus on Partners: work on building relationships with partners, as your current “clients.” Turn work in on time, be details oriented, and ask for feedback on your work. Take a partner to lunch and ask about how she built her practice and ask for advice on how to build your own
  • Stay in Touch: Don’t lose track of your law school and college friends. Make a point of staying in touch with people you connected with (liked, trusted and respected). They will be the legal services decision makers of tomorrow. Meet them for lunch a couple of times per year. Make it a priority to stay in touch. Practice developing client relationships by developing the contacts and network you currently have
  • Practice by Selling the Firm: While you can’t market yourself individually until you have solid experience to market, you can practice your marketing skills by marketing the firm. Ask to join pitch meetings or become active in a trade association with clients that interest you and your firm

 2) Time spent doing business development each month

The study found that the more time spent doing business development each month, the more new business generated. In particular, spending over 15 hours per month on business generation was a high predictor of business origination.

This may seem like a lot of hours, particularly to someone who feels they are too busy practicing law to work on new business development. Yet, relationships take time to nurture and grow. If you don’t continually work on building your relationships, you may find you have very few clients and a lot of time on your hands! Be proactive in managing your relations by setting aside time each week for business development:

  • Identify your top contacts: make a list of 20-30 current clients, prospective clients, and referral sources with whom you would like continue to grow your relationship. Keep a list with their names on your desk to keep them top of mind
  • Meet with your top contacts: make it a goal to meet with one contact per week. Go to lunch, coffee, or a happy hour just to catch up
  • Have a contact-focused agenda: don’t go with the goal of selling your services. Rather, your agenda should be focused on your contact. What can you do to help them personally or professionally? Who in your network can you introduce them to?
  • Do What You Say You Will: introduce them to that contact, send them that article, etc. Keep a marketing file where you make notes of when you meet with people and list of follow-up items. Put a note on your calendar to schedule another catch-up meeting a few months down the road

Watch for Part II of this blog post that discusses how best to use a targeted approach to business development, participation in “pitch groups,” cross-selling other firm services, and asking clients for referrals.

Calling all Lawyers!

Participate in Dr. Keshet’s current research study on how attorney specialty and diversity effects business generation. The measures of diversity include gender, race, ethnicity (Asian American, Hispanic American and others) and sexual orientation.

We are seeking your assistance in informing attorneys at your firm. Our online questionnaire takes less than 15 minutes to complete. You and the participants from your firm will receive an executive summary of the study results. The study is completely confidential. To take our questionnaire click here: http://www.zoomerang.com/Survey/WEB22AEMFKQWU5  

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Client Service Reminders: What Lawyers Can Learn From Toyota

By ESQCoach, Terrie S. Wheeler

Web: www.MarketYourLawPractice.com

Email: Twheeler@MarketYourLawPractice.com

Toyota was the most admired car manufacturing company in the world. However, the recent recalls, manufacturing defects, and Congressional hearings have undeniably tarnished its reputation, cost it valuable customers, and reduced its market share. While Toyota is a manufacturing company, there are valuable lessons lawyers can learn about managing client expectations, communicating with clients (good news and bad), and providing the highest possible level of client service.

Accept Responsibility

Toyota’s Approach – Toyota first blamed the brake problem on floor mats that jammed the accelerator and issued only two small recalls in 2005 and 2007. They simply refused to believe that there was a mechanical error. By the time they finally issued a major recall of 2.3 million cars in late January 2010, their reputation was suffering and the government became involved. Worse, Toyota’s President remained silent for days after news of the recall broke.

 

Lessons for Lawyers – It is important to own up to mistakes quickly and to remedy the situation as soon as possible. As a lawyer, if you notice there have been billing errors or a mistake made in litigation, or a deadline missed, it is critical to address the issue head on with the client. Accept responsibility. Discuss what went wrong, how you will remedy the situation, and how you will prevent future errors. Proactively addressing problems with your clients builds trust and can help you preserve a client relationship that may otherwise have been lost.

Focus on the Client

Toyota’s ApproachExperts say that one of Toyota’s problems was corporate arrogance. They had become so accustomed to success that they were unable to adequately address problems and had lost their focus on their customers. They have been accused of “resting on their laurels” and failing to keep pace with customer expectations.

Lessons for Lawyers – For lawyers and law firms, this can be a serious problem. Experienced lawyers and successful firms often take their clients for granted and can become out of touch with client concerns. Toyota was so successful for so many years because it did not just meet customer expectations—it exceeded them. To exceed client expectations as a lawyer, you must focus on what clients want consistently over time.

Develop a superior knowledge base in an area of law, be solutions oriented, follow-through on commitments, manage client expectations, and be proactive in anticipating and meeting client needs.

A client-focused law firm relies on the opinions and impressions of its clients to deliver service and drive future business decisions. Consider developing and conducting annual client surveys, focus groups, or interviews to stay focused on your clients and their needs. Soliciting client feedback will allow you to:

  • Expand and Strengthen Client RelationshipsAsking for feedback and suggestions lets your clients know you care about what they want and are committed to making changes in order to retain their business
  • Identify Service Offering GapsEnsure you are delivering all of the services your firm is capable of delivering and that you choose to selectively expand to deliver more services your clients need
  • Cross Market your Services – Understand client awareness of the services you offer and reveal cross-marketing opportunities
  • Uncover Client Needs – that might now be delivered by your competitors  
  • Grade your Marketing Efforts – by identifying what marketing efforts resonate and have a positive impact on your clients’ and those that don’t
  • Determine How Often and on what Topics your Clients are Interested In – Discover the most effective and appreciated forms of communication with your clients as well as the topics of greatest interest to them.

Manage your Growth

Toyota’s Approach – Toyota developed its reputation for quality due, in large part, to its widely admired Toyota Production System—a manufacturing system that focused on continuous improvement, shared learning across plants, and employee empowerment. Experts blame the recalls on Toyota’s rapid growth over the past 10 years, from 58 production facilities in 2000 to 75 in 2009. This rapid expansion meant that Toyota was not able to effectively share corporate culture, technology, and know-how between all of its plants.

Lessons for Lawyers – While growth in a law firm is generally not rapid or widespread, law firms opening new offices, expanding practice areas, or adding new associates can learn a lesson from Toyota. Don’t sacrifice client service or your firm’s reputation simply to expand your market share. It is important to ensure that the level of growth is matched by a commitment to quality service. New lawyers and lateral hires need mentoring both to learn substantive law and also to learn the firm culture and understand client needs. New offices should be opened only where and when they can be used most efficiently and effectively to serve client needs.

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