Happy Thanksgiving!

Whether you’re celebrating Thanksgiving or just going about an ordinary Thursday, please know how grateful I am for the opportunity to serve you through this blog.


P.S. The next installment of the webinar series:

Implementing Your 2021 Vision for a Profitable Practice
The webinar is scheduled for Thursday, December 17th at 1 PM ET/noon CT/10 AM PT.

Click here to register.

What the Tough Mudder can teach you about biz dev.

I recently talked with a friend who completed a Tough Mudder. For those of you who aren’t familiar, a Tough Mudder is a 10-12 miles obstacle race through a variety of obstacles (such as sprinting through a field of live wires) and, you guessed it, lots of mud. Aside from the obstacles, two aspects of Tough Mudder are legendary: the focus on teamwork (“no mudder left behind”) and on overcoming fears through the obstacles.  And it’s definitely tough—or so I hear since it isn’t exactly my cup of tea.

Here’s what my friend told me that made me think of the business development journey: “I came to appreciate the obstacles because every time I made it through one, I knew I was that much closer to the end. When I was in the middle of it, I couldn’t really tell how far I’d gone or how much I had left to the finish line, but the obstacles helped me know that I was actually making progress.” It’s a useful lesson.

Here’s what the Tough Mudder can teach you about business development:

  • Approach the race as a marathon, not as a sprint. Although the Tough Mudder is “just” 10-12 miles long, expecting to whip through it would be a huge mistake even if you run that distance every weekend. Likewise, business development will last for the rest of your private practice career, and you’ll run ragged if you behave as if it’s a goal to be conquered in the short term. Keep your eye on the long-term view even while working to overcome each immediate obstacle.
  • Overcome your fears. I have yet to meet a lawyer who built a book without having to face difficult and uncomfortable situations. You need grit and consistency to power through those situations just as you do during the Tough Mudder to jump from a tall platform into ice-cold water and then run to climb a scaffold and slide down a pole through a ring of fire.
  • Realize that you can’t do it alone. To succeed in building a successful practice, you’ll need help from mentors and colleagues who can give you suggestions and feedback, professional friends who can make introductions and open doors for you, and referral partners who can help you meet the right contacts and potential clients. It’s very difficult, if not impossible, to succeed alone—and you’d be wise to be invested in your teammates’ success as they are in yours.
  • Take the steps necessary to prepare. Training for the Tough Mudder might include cardio, weight lifting, and bodyweight exercises, along with finding out the best clothes to wear during the race and other “real life” tips. Preparing for business development may include designing your strategy and laying your business development plan, improving certain skills (networking skills, for example), learning about general principles of marketing, studying your target client’s likely concerns and goals, learning more about business principles, and so on. Whether it’s a Tough Mudder or business development, you can’t expect to go from zero to win without significant preparatory work.
  • Have a clear objective in mind. In most races, your time is your measure of success; in Tough Mudder, success might be measured in terms of your teamwork or even by overcoming the one obstacle that terrified you. Your personal definition of success should govern your business development efforts as well. You’ll likely approach business development differently if you want to become an equity partner at a large firm than you would if you want a more lifestyle-oriented practice. Knowing your “why” will let you be sure that you’re working to create the kind of success that matters to you.
  • Decide that you will succeed. Whether it’s the Tough Mudder or building a clientele to support your practice, you will hit obstacles—literal and metaphorical. It won’t be easy. At times you’ll wonder why you started this journey and you’ll consider abandoning it. Only your decision to persevere will keep you from giving up. Decide early and don’t look back.

Whether you’re training for a Tough Mudder or (like me) can’t imagine taking on that challenge, absorbing these lessons will help you build a successful practice. What else would you add?

One size never fits all.

There’s no secret about which activities are helpful for business development, right? Pick up any law practice management magazine, flip to one of the zillion practice-related websites and blogs, or read marketing suggestions for other professions, and you’ll find all kinds of activities that work for landing new business.

The challenge can be finding which activities work for you. There’s no one-size-fits-all template for business development. When it comes to finding your best process, you must start with self-understanding. What are your skills and opportunities for attaining credible visibility? How do you best interact with people?

It is possible to enhance and even change your natural tendencies—if, for example, there are good indications that speaking would be a productive activity but you’re not a skilled speaker. However, you’re unlikely to succeed unless you first believe you can succeed. Here’s why:

 

How do you see yourself when it comes to business development? To get a clear view, download and complete The Reluctant Rainmaker business development plan template. Part one is all about identifying attributes of yourself as well as your practice and your target clients, and part two helps you to use that information to build a plan that actually fits you.

Don’t fall for a paint-by-numbers template that fits everyone and therefore fits no one. It takes work to design your unique strategy, but that’s the only way to succeed.


P.S. Mark your calendar for the next installment of the webinar series, Mastering Your Time for Greatest Profit: Blending Year-End Billable Responsibilities and Holiday Relationship Development to Build Your 2021 Foundation.

The webinar will be held on Thursday, November 19 at 1 PM ET/noon CT/10 AM PT.

Click here to register.

Project Your Power

Leadership presence, which includes the ability to project power, is critical in any kind of interaction, whether you’re speaking with one person or to a crowd of 1000.  Failing to exhibit the kind of power that demonstrates self-confidence may leave your audience uncertain about your skill, but overdoing a display of power may come across as arrogance, which is a turnoff for almost everyone.

Amy Cuddy’s presented her research on “power poses,” which demonstrates that adopting or even just visualizing a confident pose delivers self-assurance in one of the most viewed TED talks of all time.  One of the fascinating aspects of that research is that taking a “power pose” can affect levels of testosterone and cortisol. In other words, this is not just a “fake it til you make it” shortcut: taking a powerful stand causes physiological effects that can change how you present yourself and thus how others perceive you.

Stanford professor Deborah Gruenfeld, who spent years studying the psychology of power, discovered that simply understanding the research is not enough to reap its rewards. She eventually teamed up with a theatre instructor to teach a Stanford Business School class called Acting With Power. Watch her micro lecture Playing High, Playing Low and Playing It Straight on YouTube, and you’ll pick up tips on how to project authority and approachability. It’s a worthy investment of time if you’ve ever felt a lack of confidence if you’ve ever received feedback that you come across as tentative, or if you’ve ever worried that you’re coming on too strong.

What does this have to do with business development? Simple: no one wants to hire or refer business to someone who may not be able to handle it. While leadership presence isn’t necessarily indicative of actual professional skill, it’s the stand-in that others will evaluate (consciously or not) as they decide whether you’re trustworthy.

Take a few minutes to check out these resources, and if you’re uncertain about how you come across (especially in situations that are uncomfortable to you), ask a trusted colleague. Your presence will have a significant impact on your career, so don’t delay.


P.S. Mark your calendar for the next installment of the webinar series, Mastering Your Time for Greatest Profit: Blending Year-End Billable Responsibilities and Holiday Relationship Development to Build Your 2021 Foundation. 

The webinar will be held on Thursday, November 19 at 1 PM ET/noon CT/10 AM PT. 

Click here to register.