A. Strategies for Building a Book of Business and Staying Motivated
Question: During the webinar, you spoke about the long-term nature of building a book of business. What are some of the strategies for staying motivated and persistent when progress seems slow? How can I measure and track my progress effectively to ensure that I'm on the right path, and what indicators should I look at to adjust my approach if needed?
Answer: Building a book of business is indeed a long-term endeavor that requires consistent effort and strategic networking. Here are some detailed strategies and examples:
1. Create and Maintain a Contact List:
- Strategy: Write down a list of at least 100 people you know from various stages of your life, including law school classmates, college acquaintances, and professional contacts.
- Example:
- I once called a high school friend who had moved to California and owned a graphic design business. By just checking in on him, I eventually secured $200,000 worth of business referrals from him and his network.
- Another example is my college friend who was working for ESPN in Los Angeles. This contact led to referrals, including work from a professional athlete who needed legal assistance.
2. Regular Check-Ins:
- Strategy: Periodically check in with your contacts without any immediate agenda. This helps maintain relationships and keeps you top of mind.
- Example:
- I regularly contacted my high school friend every few months just to see how he was doing. This non-intrusive approach eventually led to significant business referrals.
- Another attorney I knew in San Francisco built his book of business by helping people with their problems for free, which eventually led to them referring paying clients to him.
3. Leverage Existing Networks:
- Strategy: Attend events, network with professionals in various fields, and always be ready to help without expecting anything in return.
- Example:
- I remember helping a corporate attorney from Detroit with paperwork to get incorporated for his side business when I was a contractor before law school. This attorney later referred me significant legal work.
- Another attorney in Detroit built a million-dollar book of business through networking with surfers in El Salvador, whom he met during his travels. He maintained these relationships by checking in weekly.
4. Persistence and Patience:
- Strategy: Stay persistent even when progress seems slow. Measure your progress by the number of new contacts made, follow-ups, and potential leads generated.
- Example:
- I used to call potential clients and old friends regularly. Over time, this consistent effort paid off with substantial business referrals.
- John Quinn of Quinn Emanuel initially got his firm started by cold calling people with employment cases and offering his services at low cost, which eventually built his reputation and client base.
5. Track Your Efforts:
- Strategy: Use a CRM or a simple spreadsheet to track your interactions, follow-ups, and the status of potential leads.
- Example:
- Regularly updating my contact list and noting down the interactions helped me keep track of who I needed to follow up with and who had the potential to refer new business.
- John Quinn also formed relationships with partners at other firms, like Latham & Watkins, who would refer cases to him that didn't fit their moral compass or practice area.
6. Indicators to Adjust Your Approach:
- Strategy: Monitor the response rate from your contacts, the number of new leads generated, and the conversion rate of these leads into actual business.
- Example:
- If a particular approach isn’t yielding results, such as cold emailing, consider more personalized outreach methods like phone calls or in-person meetings.
- An attorney I worked with in New York got millions of dollars in business by sitting on the board of a hospital and being in the right place to take on a major lawsuit.
B. Navigating Salary Negotiations After Long-Term Unemployment
Question: How should lateral attorneys navigate salary negotiations when moving from a long-term unemployment phase to a new firm without underselling their value?
Answer: Navigating salary negotiations after long-term unemployment requires a strategic approach to ensure you don’t undersell your value while also securing the position.
1. Focus on Getting Back into a Law Firm:
- Strategy: Emphasize your eagerness to re-enter the law firm environment and your willingness to be paid in line with other attorneys at your level.
- Example:
- “I would like to be paid the same as other attorneys at my level or the last attorney hired.”
- One candidate successfully conveyed this to a potential employer, ensuring that they were seen as committed and eager to reintegrate into the firm environment.
2. Prioritize Long-Term Career Over Immediate Salary:
- Strategy: Express that your primary concern is re-entering a law firm rather than focusing solely on the salary.
- Example:
- “I’m more concerned about getting back into a law firm than my salary.”
- Another candidate highlighted their focus on career growth and development, which resonated well with the hiring firm.
3. Be Flexible and Open to Negotiation:
- Strategy: If the firm is open to negotiation, be reasonable and avoid asking for too much initially.
- Example:
- “Is there any room for negotiation?” This shows that you are open to discussions without making it a deal-breaker.
- An attorney who approached salary discussions with flexibility was able to secure a fair offer and re-enter the workforce.
4. Showcase Your Value:
- Strategy: Highlight your skills, experience, and the unique value you bring to the firm, even if you have been unemployed.
- Example:
- Discuss any continuous professional development, such as attending legal seminars or obtaining certifications during your unemployment.
- One candidate emphasized their recent certifications and training, which helped demonstrate their commitment to staying updated and relevant.
5. Handle Salary Discussions Carefully:
- Strategy: Avoid giving a specific number unless prompted, and instead, indicate your willingness to be compensated fairly.
- Example:
- “I’m looking for a fair compensation that reflects my experience and the market standards.”
- This approach helped a candidate avoid pricing themselves out of consideration while still indicating their expectation for fair pay.
See Related Articles:
- Factors to Consider when Evaluating a Job Offer
- Now That You Have an Offer — Is It the Right One for You?
- Should You Accept an on the Spot Offer?
C. Addressing Gaps in Employment on Your Resume
Question: What are the best practices for addressing gaps in employment on the resume, particularly for attorneys who have faced long-term unemployment?
Answer: Addressing employment gaps on your resume effectively can help mitigate potential concerns from employers.
1. Honesty and Transparency:
- Strategy: Be honest about the reason for your employment gap without going into unnecessary detail.
- Example:
- “I took time off to care for a family member.”
- An attorney used this approach and successfully conveyed the personal necessity behind their career break, which was well-received by prospective employers.
2. Highlight Continued Professional Development:
- Strategy: Showcase any professional development activities you engaged in during the gap.
- Example:
- “During my time away from the workforce, I completed several legal certification courses and attended industry seminars.”
- This approach helped an attorney demonstrate their commitment to staying updated and relevant in their field.
3. Focus on Relevant Experience:
- Strategy: Emphasize the relevant experience and skills you gained before the employment gap.
- Example:
- “Prior to my employment gap, I managed high-profile cases and developed strong expertise in corporate law.”
- Highlighting past achievements and responsibilities reassured employers of the attorney's capabilities.
4. Showcase Volunteer Work or Pro Bono Activities:
- Strategy: Include any volunteer work or pro bono activities you participated in during your gap.
- Example:
- “I volunteered at a local legal aid clinic, providing legal assistance to underprivileged communities.”
- One attorney's involvement in pro bono work during their employment gap showcased their dedication to the profession and their community.
5. Utilize a Functional Resume Format:
- Strategy: Consider using a functional resume format that focuses on skills and achievements rather than chronological work history.
- Example:
- Group your experience under relevant skill headings such as “Litigation Experience” or “Corporate Law Expertise.”
- An attorney successfully used this format to highlight their skills and achievements, minimizing the emphasis on their employment gap.
D. Demonstrating Value in Interviews to Avoid Being Seen as a Risky Hire
Question: How can lateral attorneys effectively demonstrate the value they've added to their previous firms during interviews to avoid being perceived as risky hires?
Answer: Demonstrating your value effectively during interviews can help alleviate concerns about being a risky hire.
1. Highlight High Billable Hours:
- Strategy: Emphasize your high billable hours as a sign of your productivity and reliability.
- Example:
- “I consistently billed the most hours in my practice group, indicating my strong work ethic and dedication.”
- An attorney who highlighted their high billable hours reassured the prospective firm of their work commitment and reliability.
2. Discuss Sophisticated Work:
- Strategy: Highlight the complexity and importance of the work you handled.
- Example:
- “I worked on highly sophisticated corporate transactions, demonstrating my ability to handle complex legal issues.”
- Sharing examples of complex cases handled helped an attorney showcase their expertise and capability.
3. Mention Key Relationships:
- Strategy: Talk about your relationships with important partners and clients.
- Example:
- “I was regularly entrusted with key clients and worked closely with the most important partners in my firm.”
- Emphasizing these relationships demonstrated the attorney's ability to build trust and handle significant responsibilities.
4. Showcase Positive Performance Reviews:
- Strategy: Reference positive performance reviews and feedback from previous employers.
- Example:
- “I consistently received excellent performance reviews, highlighting my dedication and quality of work.”
- An attorney's reference to their positive reviews reassured the prospective employer of their consistent performance.
5. Provide Concrete Achievements:
- Strategy: Share specific achievements and contributions to your previous firms.
- Example:
- “I led a team that successfully closed a $500 million merger, which was one of the firm's most significant achievements that year.”
- Concrete examples of achievements provided clear evidence of the attorney's value.
By incorporating these strategies and detailed examples, you can effectively address key questions and concerns, providing valuable insights to readers and enhancing their understanding of successful career navigation in the legal field.
