Miami Legal Business Development | Branding | Lawyer Coaching | Paula Black

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The Managing Partner Forum's Fall Conference

The MPF 2011 Fall Leadership Conference is being held on Wednesday, November 16th at The University Club of Chicago. This conference is designed specifically for law firm managing partners and we are expecting in excess of 50 firm leaders from across the country to be in attendance.

This is one of those extraordinary opportunities to attend and participate in an event where much of the day's agenda is driven by the participants sharing common challenges, learning from each other and gaining far more insight than is probably provided by any of the faculty members . . . and I say that as a member of the faculty. I hope to see you in Chicago.

For additional information and to register, visit: managingpartnerforum.org
 

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Uncertainty... is a lawyer's enemy. You are trained to find the certainty... that is what makes you good lawyers. But, it is also what makes you lousy business development planners!

Planning requires that you: make educated guesses, leaps of faith, look into a crystal ball and just plan DREAM! I know that isn't a typical lawyer trait , but with some practice it could be fun... and I know it works.

What do you want 2012 to look like?

Dream... about how many new clients you would like to acquire.

Look into a crystal ball... and project the amount of business you will get from current clients.

Make an educated guess... look at the revenue you brought in last year and project what you will do next year.

Take a leap of faith... that if you put in the effort and the time, it will all pay off.

Now that didn't hurt... did it? It's just a muscle you need to exercise. Set goals and objectives for every business development meeting and predict the outcome! Do it often enough and you will get pretty good. Make it a game... it can be fun. 

Black Pearl: Here's an article by Johnny B. Truant, 6 ways toMaster Entrepreneurial Uncertainty. There are insights that lawyers could gain from Johnny's observations. Take a look.

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If you haven't figured it out by now... my focus the past few posts is, planning for 2012. Yes, I want you to focus... focus... focus! And I'm not about to let up anytime soon! Why? Because I believe PLANNING is critical to business development success. (Actually, any success... no matter what the endeavor.)

Today, I want to discuss referrals: HOW and WHY to make them, then let's plan what to expect in 2012. First, there are many reasons why you recommend a lawyer... 

1. To help your client... it's good client service.

2. In hopes that you will get referrals in return... referrals are currency.

3. To let that lawyer know that you think highly of them... you respect their work and want others to receive the benefit of that expertise. 

4. To earn a referral fee... plain and simple, "money makes the world go 'round!"

If these are the reasons you make a referral you have to ask... "Have I communicated it CLEARLY?" Chances are the answer is NO. Not so much. Most lawyers tend to be a bit loose and casual about it. Well, referrals are an extremely important part of how the legal profession works... (Or doesn't work for some.) So, let's look at our list again...

1. IF... it's good client service... are you following through? Do you call your client to touch base and find out how things are going? Do you show your concern for their situation? This is an opportunity to show how much you REALLY care, since you aren't billing them.

2. IF... referrals are currency. Wouldn't it be better to pay out before you receive? You bet!

3. IF... you respect a lawyer's work and want others to know how good they are. Are you saying it clearly, to both parties? If you would trust this lawyer with YOUR life... tell them both that!

4. IF... you earn a referral fee... make sure you show your appreciation. Most often it is the person paying out the fee that is saying thank you for the referral... but are you not thankful that they did a good job on the case and made you look good? Say so!

There is no doubt that referrals are the life-blood of just about any legal practice. Make sure yours are doing the job that is intended... follow through and say what you mean, as clearly as possible.

Now that you are maximizing your referral sources... let's do some planning. Look at your list of referral sources and project what you might get from them in 2012. To get a good read on it, analyze what you got in the past two years, one year doesn't always tell the story. Ask yourself if they are still in a situation to encounter the kind of cases they could send your way? Now, assign a dollar value. Could it be a small, medium or large case? Granted... this is just a guess... an educated guess.

Be bold... think big! Why not? If you enter 2012 with a big far reaching goal chances are you will be on the look out for just such an opportunity. You will recognize the opportunity when it presents itself. It's up to you... what do you want your referral sources to send your way next year?

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Peter Bregman writes for the Harvard Business Review and he never fails to make me THINK! He wrote about strategic plans and resolutions in his article "What's Your One Big Theme?" If you are an over achiever like me you have a long list of things to be accomplished... and that means if "my cup DOESN'T runneth over" I don't have enough to do. But, we know... old dogs can learn new tricks... so I'm taking Peter's advice to heart.

What Peter explains is when he looked back on 2011 he didn't start with what he didn't do, but rather he looked at what went well. Looking at the things he accomplished and the headway he made... he FELT the success. 

Peter tells us that, "Then, fueled by a feeling of accomplishment, I looked at my list of things to change from a broader perspective, asking myself: What's this really about?

That's when I noticed the theme: I'm moving too fast.

I realized that pursuing an individual development plan for each thing I wanted to fix would only worsen the problem. I needed to reduce the complexity, not add to it.

So I came up with a single idea — a theme for the coming year — that would positively impact everything I wanted to change.

My theme? Slow down.

My thought was that if I focused only on that, everything else would improve."

Okay... easier said than done. But it can certainly make you think. And I'm here to tell you it did make me think. What could MY theme be? Could it be REACH? Reach... my market. Reach... my message. Reach... my dreams. OR could it be THINK BIGGER? Or could it be FOCUS? Well, as you can see, I need to work on this. How about YOU?  

Black Pearl: Here's Peter's new book... 18 Minutes: Find Your Focus, Master Distraction, and Get the Right Things Done.

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Are you in pursuit of success? What does success mean to you and how do you get there? The answer is different for everyone. We can be inspired, encouraged and learn valuable lessons from one another. This month Diversity Journal named their 2012 "Women Worth Watching."  My client and friend, Nikki Simon, who is a Shareholder at Greenberg Traurig was included in this most prestigious list. Each recipient is featured with an article; I think you will agree that Nikki has sound tidbits of advice...

"First, understand and accept that there are no shortcuts. Sacrifices, mistakes, hard work and success are inseparable bedfellows." I love how she puts this! Let's face it: success isn't easy... roll-up-your-sleeves and get to work.

"Second, believe you are fabulous, capable and successful. This heading says it all. This is you today, not tomorrow. No permission slip is required. No apologies are necessary. Be mindful too that a self-promotion mindset is enhanced when you use your manners." Nikki reminds us to have faith in ourselves... we got this far didn't we!

"Third, take calculated risks. Be prepared to step outside your comfort zone..." Ask yourself... what If? What if you take that road? AND... What if you don't... ? Trust your gut! We all have life experiences that give us the wisdom to choose a path worth traveling. 

"Fourth, identify and live in harmony with your core values. They help establish why we do what we do in the business world, while defining our business roles. When working in harmony with our core values, I believe success is inevitable because our passions and purposes are aligned." This is sound advice. We have all experienced that voice in our heads that said... "Don't go there." Heed that voice.

As you work on your 2012 plan consider Nikki's advice, it will give you the courage to do what you know you must and the faith in yourself that you CAN. And YOU will be someone... Worth Watching.

Black Pearl: Read more about Nikki Simon and others at Diversity Journal

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To plan is second nature to me since I started my career as a buyer for a Federated Department Store in Florida - Burdines. (Sadly it doesn't exist anymore since the Macy's brand was rolled out across the country.) Retail was a great teacher of many disciplines... PLANNING being THE most important. Actually it has served as the foundation of MY business and a driving force when I help my legal clients. Let's face it... PLANNING is not a skill you hone in law school.

I have written a lot about PLANNING, take a look. Today, here are three thoughts.

1. Dream BIG!

When you sit down to think about the goals for 2012... Think about what you LIKE to do ... what are your strengths... what do you WANT... not what you HAVE. Just because you have been doing low fee Real Estate transactions doesn't mean you need to continue doing them. Think outside your comfort zone... you never know what you may discover!

What are the tactics that will get you there... what do you need to do in order to accomplish this goal? List all the details big and small. 

3. Look for the Pot of GOLD.

Break it down to the dollar value that each of your goals will result in. Breakdown your cases or transactions into small, medium and large. (For example: a small case $2,500 - $100,000, a medium case $100,000 - $500,000 and a large case over $500,000... whatever is appropriate for YOUR practice.) Now, how many small, medium and large cases do you think you can get? Where could they come from? What do you need to have in place in order to land those cases? Who needs to know you have this expertise? How can you reach them? How much money will you need to land this work? This will give you your revenue and expenses for 2012. 

This process can be as simple OR involved as YOU want to make it. Whatever way suits you... but, just do it! 

Black Pearl: Get inspired: My friend Cordell has a great piece of advice I would like to offer up to this discussion... "How I learned about the importance of setting challenging goals."

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October is in full swing and most of you are feeling the cooler weather (Miami... not so much!) Others are feeling the pressure of 4th quarter and wondering how your firm or practice is going to meet your 2011 projections. For me, October is the time I brainstorm and plan what the coming year will hold for my business.

The Time Is Now

So this weekend I brought together friends to do a "Dream Retreat". What do we want in our lives for 2012? 

Most years I have blocked out time on a weekend or evening and closed my office door... put my thinking cap on, my butt in the seat and created a plan.... nice, but not too stimulating!

Collaboration Is Rocket Fuel

This time it was INCREDIBLE... and I do mean INCREDIBLE! How so? First of all it was an entire WEEKEND led by my incredible friend and coach Claudette Bouchard who came in from Vancouver. Second, included was my incredibly talented friend (since college) Laura Ralston-Slejko who came in from Chicago. WHY is this so important? Because I was working on my plan (and they were working on theirs) for the first time as a collaborative effort. And even more importantly I was working on the plan with two people that really know me and want me to fulfill my dreams more than most... including ME!  

Work Life Balance... What IS that?

I say... We only have ONE life... so... make THAT work! And true to my philosophy this plan included all aspects of my life and we were extremely creative in highlighting every aspect that is important to me. And when I retreated to a safe place they challenged me to play BIG. 

Create your plan now... it will allow for "ramp-up" time, if needed.

Find collaborators... and work on your plans together.

Design a plan that makes ALL aspects of your life work in harmony.

 

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An attitude of positivity? Okay... you're lawyers... skeptical by nature. But, I happen to know... old dogs CAN learn new tricks!

I've talked before about my colleague, a legal consultant Patrick McKenna's rule when he's working with a room full of lawyers... everyone must LOVE an idea for 5 minutes. Just imagine how that could impact your practice and life, for that matter! 

1.If you start with the thought that something WILL work... you will reveal ways that indeed make it possible... that lead to other thoughts and ideas that build on one another.

2. Chances are that there are many angles that you could explore in this positive direction that you wouldn't if you close the door to possibility. An open door invites creative thinking.

3. Positive energy is contagious. People want to be around it... it rubs off.

"We'll never know our full potential unless we push ourselves to find it." - Travis Rice

Remember that we all have a choice... everyday... to see the glass half empty or half full. What do you choose? Love every idea for 5 minutes and see what happens!

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Do you communicate your "attitude of gratitude"?

Do your clients KNOW that you appreciate their business? Do they KNOW that you enjoy the work you do for them? Do they KNOW that you truly care about their situation? 

Do your colleagues KNOW that you like working with them? Do they KNOW that you respect the work they produce? Do they KNOW that you talk to others about them?

Do your friends KNOW how much they mean to you? Do they KNOW just how they enrich your life? Do they KNOW how often the memories you've made together make you smile?

Do your family members KNOW you miss them when you are away? Do they KNOW that you think they're special? Do they KNOW you love them?

OR are you the one who communicates entitlement and is too busy to say THANK YOU?

You may think you have communicated your feelings and thoughts... but have you? Look clients, colleagues, friends and family members in the eye and say what you mean. Take that moment to make sure your clients, colleagues, friends and especially your family KNOW how you feel and what you're thinking... no one is a mind reader. Our lives wouldn't work without them... make sure they know that.