Breaking down business development barriers for the legal profession
05 Dec 2019
This blog was written for and published by LexisNexis’ ‘Future of Law’ blog and is reproduced here with their kind permission.
It goes without saying that no one joined the legal profession to become a salesperson. You studied, trained and sweated to become a solicitor to advise your clients so they can achieve what they want for their business or in their personal lives.
The only problem is that in the 21stCentury the requirement for lawyers to be able to bring in new work is now a must have, not a nice to have.
The legal market has changed massively since the credit crunch hit in 2008. You not only have your traditional competition to worry about, but there is a raft of also new market entrants to contend with. You have the constant conveyor belt of newly merged firms hitting the market, brand new boutiques being launched by high profile practitioners from some of Britain’s best known firms and then there are the ‘Big 4’ accountants who are now promoting their own legal practices.
As a result, the legal market has never been as crowded or as competitive. This means every lawyer needs to take business development seriously or face losing the fragile market position you’ve worked so hard to create.
That, I promise, is the end of the doom and gloom!
Busting the business development myth
While business development might not be something you are completely comfortable with, the good news is the myth that business development has to be all about networking which means it has to be about formal networking events is nonsense. If it is only the thought of having to walk into a crowded room full of faces you don’t recognise that’s kept you from getting involved in winning new work (and I’ll be honest, those types of events aren’t my bag either), I’d like to share a few alternatives here that may suit you much better …
If you would like to read about those alternatives you can do so here.
Or if this blog has raised any marketing or business development questions, please email me and we can find a good time for me to try and answer them!