Why Instant ROI Isn’t the Real Goal in Business Development

You invest time and energy in business development, so it’s natural to hope for quick returns.

But here’s the reality: law is a complex sale. Unlike simpler purchases, legal services often have serious, life-changing implications, and people rarely decide on a lawyer the first time they meet them. They need to build trust, feel confident in your abilities, and be sure you’re the one to handle their matter. Expecting immediate ROI in this context is like expecting a tree to grow fruit overnight—it’s unrealistic and misses the bigger picture.

Building a Strong Foundation: Trust Takes Time

Clients don’t rush into decisions when choosing a lawyer because they’re dealing with issues that matter deeply to them. They’re often looking for a partner who will guide them through critical life moments, whether it’s a business sale or purchase, a property dispute, or something even more personal. For clients, this decision needs time, and trust is central to their choice. And no referrer sent you opportunities just because you paid for lunch!

This is why, as a lawyer, it’s essential to shift your focus from immediate returns to long-term credibility. When you consistently provide valuable insights, whether it’s through a quick conversation, a well-timed email, or a helpful article, you’re not just engaging in business development—you’re building a reputation. The stronger this foundation, the more likely clients will come to you when they’re ready to make a decision.

Know Your Target Market

To make the most of your BD efforts, you need to be intentional about who you’re targeting. Not every prospective client is the right fit, and knowing your target market is key. This means getting specific: What types of clients are you best suited to help? What industries or situations play to your strengths? The clearer you are about your ideal clients, the easier it becomes to focus your efforts where they’ll have the most impact.

When you know your target market, you can tailor your approach. You’ll know exactly which insights to share, which concerns to address, and how to position yourself as a trusted advisor. This approach builds credibility and helps you stand out.

Proactive, Not Reactive

You have to stay proactive with your business development. Don’t just wait for clients to approach you—reach out and engage meaningfully. Showing prospects that you’re invested in helping them get better results, even before they decide to hire you, builds confidence and trust.

Being proactive might look like sending an article relevant to their industry, reaching out with a few tips after a casual conversation, or following up with thoughtful questions about their current challenges. These efforts make clients feel valued and understood, setting you apart from the reactive lawyers who only reach out when they want something.

Consistent, Not Instant Results

Effective business development isn’t about short-term wins. It’s about planting seeds, nurturing relationships, and knowing that the return on your efforts often takes time. The lawyers who succeed in BD understand that it’s about consistency and patience. Each conversation, follow-up, and knowledge you share adds another layer to the relationship, moving clients one step closer to choosing you when the time is right.

In business development, patience and strategy will get you much further than chasing quick returns. Focus on building trust, targeting your ideal clients, and staying proactive. The results may not be immediate, but over time, you’ll have built a solid foundation of relationships with clients who know, trust, and choose you when it matters most.

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Business development takes time to learn and is a lifelong journey, so taking that first step is vital. The BD Breakthrough Blueprint?? is a great place to start. As we come to the end of 2024, taking that journey to becoming a rainmaker can set you on a new path for your legal career and change how clients see you - as a trusted advisor.

Don’t wait, get your copy of The BD Breakthrough Blueprint?? now: https://www.legalbalanceinstitute.com/courses/BDBTBP

That's it for now.

Here's to making it rain!

AI Corner is coming soon (to my Legal Balance mailing list subscribers)

AI isn't coming, it's here.

We all know that, and we're trying to navigate what that means.

But things are moving so fast, and keeping up with everything when you have so much going on in your practice or business makes it nearly impossible.

I get that and I want to help.

So, in the next few weeks, I'll be adding 'AI Corner' to my Legal Balance newsletter, where I'll bring you some simple and easy-to-understand information about AI and how you can learn a little bit more about it each time.

And I'll be starting with a 'Beginner's Guide to Generative AI and Large Language Models' - it's how I started my journey with generative AI and helped me get to grips with what it is and how it could help us and our business. I want to do the same for you.

The 'Beginner's Guide...' is almost ready and, if you're a subscriber to my mailing list, you'll be the first to get it, so look out for it.

AI Corner will only be available to subscribers of my Legal Balance newsletter - it won't be available on here. To join my mailing list and get this exclusive content, just click here, fill out your details, and type 'rainmaker' in the message box.

In the meantime, if you have any questions about AI or want to learn more, get in touch.

Turn Ghosting Into Growth With Our Brand New Mini-Course

Picture this: you've put hours, maybe months, into building a relationship with that prospective client. They seemed enthusiastic, and everything looked set to move forward. Then—silence. You've just been ghosted, and it's one of the most frustrating parts of business development.

But it doesn't have to stay that way.

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Here's what The BD Breakthrough Blueprint?? can help you achieve:

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Fancy a free e-book about lawyers?

What about a free e-book called ‘Bullsh*t & Bollo*ks Excuses’?

All those lawyer conversations I’ve posted about over the years.

All in one place.

You’ll laugh.

You’ll cry.

You’ll despair.

You’ll feel great that you’ve never said some of this… or have you?

Here it is, for your reading pleasure - just click this link.