3 Things Lawyers Get Wrong About Business Development

We've all been there. Every law firm wants to bring in new business - organise a networking event, or make plans to get out into the community, or perhaps give a talk. But for many law firms, the effort doesn’t pay off. In my work with law firms I’ve observed three easily rectifiable mistakes that law firms make when they’re trying to develop business.

1. Overinvesting on the cocktails and underinvesting in preparing the team? How much is your client party really costing you? If the firm has a marketing team, they're handed the reins to organise the event – venue, food, wine selection, all meticulously planned to ensure client satisfaction. However, there is one thing that often slips through the cracks: how truly prepared is your team to engage as humans when your clients show up? Often that’s the missing piece, the art of conversation. The budget covers canapés and drinks. But here's the kicker – that monetary expense pales in comparison to the valuable time invested by your own team. Consider this scenario: your hourly client rate is USD 200 (of course it can be much more), a gathering of 22 fee earners who each spends an average of 4 non-billable hours at the event. That's a whopping USD 17,600 of their collective time. That expense is wasted unless your team has the skills to be emotionally engaging. This goes beyond the ability to introduce yourself and describe the deals you made.Just as you sharpen your legal acumen, invest in mastering the art of conversation. You can help people hone the skills to engage and build authentic relationships by meeting in advance to decide, who should each of us be meeting with, and what are their outside of work interests that can help us strike a meaningful conversation with them.It's not about just hosting an event, it's about creating lasting impressions that resonate far beyond the cocktail hour. When firms shift the focus to the investment in skill and connection the payoff is exponential.
2. Trying to learn people skills by osmosis Throughout my journey of working with and coaching lawyers, one thing has become abundantly clear: the power of dedicated learning. We all understand the principle that practice leads to mastery. It's the foundation of becoming an accomplished lawyer. To excel in M&A or any legal domain, we immerse ourselves in study, invest endless hours, and embrace revision after revision, guided by those who've walked the path before us.As much as we've celebrated the grind of mastering legal intricacies, the world of people skills often gets sidelined. The art of leadership, communication, and meaningful connection doesn't evolve magically over time. It demands a conscious investment. Traditionally,?lawyers want to be great at projecting confidence, understanding client perspectives, and fostering lasting relationships. Making a?few small changes in the way you engage will help you become being perceived?as more confident and trustworthy. Something as simple as attending a short workshop,?seeking guidance from mentors, and role-playing different scenarios will elevate your teams interactions. Just as your team has navigated the legal realm, we can do the same for the art of human connection.
3. Proving you are the smartest person in every room The lawyer tendency to show off your smarts can cost you clients rather then get you new ones. It's natural to want to showcase your expertise, especially with potential clients. But, what if I told you that showcasing your smarts might be deterring potential clients rather than attracting them?We've been conditioned to believe that intellect alone is the golden ticket. Yes, it's important. But, our clients are seeking more than just brilliance. They're looking for a partner, an ally who understands their business needs and works collaboratively to solve their problems.Authentic connections trump intellectual flexing.The desire to flaunt our genius can sometimes overshadow the value of genuine engagement. Clients want someone who listens, empathises, and communicates in a relatable manner. They need to trust that you're not just a brain, but a person who genuinely cares about their success. This means being open to learning from your clients, understanding their unique challenges, and tailoring your expertise to their needs.

Roman Zakovsky is a business coach and trainer whose clients include Allen & Overy, Baker & McKenzie, and Deloitte. He is an expert on client communication, business development and personal brand building.