Did our clients benefit from our advice in 2008 or are they sitting ducks for another cataclysmic event just around the corner? We warned in September 2008, and warned again today: plan on working on extra hour each day and allocate the time specifically to new client development, and then breathe a little easier!
In a series of phone calls to senior partners of national law firms around the country earlier this week, few lawyers feel comfortable without a handsome book of business these days. The world of law is a business, development of clients is a sales activity, and the art of holding them lies in the skills of a soft spoken advisor who can manipulate hot buttons.
Gone are the days when a service partner could feel secure, but a more recent change applies to rain makers: no longer can a rainmaker survive on making rain! Todays “the it” lawyer balances practice development with practice expertise, and treats nonbillable time as an extension of the day, not a part of it.
For law firms that learned these lessons in 2008, the cyclonic market of recent days is a little tamer for them than for the rest.