A Meaningful Relationship

Author: Richard G. Stock, May 2004 issue of National

I recently met six partners who run a fairly typical boutique law firm. All of them are under 40, with young families and a history of work experience in downtown law firms. But what helped set this group apart from the pack was a genuine desire to service their clients beyond providing just the usual services.

The firm populated itself with work by asking key clients to identify needs that were not being met, and then providing services to fill those needs. The key to their success was based as much on providing good legal services as it was engaging their clients.

Law firms have no choice but to actively engage their market. The process of business development should be about building strong relationships with clients and providing those clients with the best possible legal services.

Here are four steps that will help your firm forge lasting ties with its best clients and generate repeat business as a result:

1. Decide upon a group of clients (between 10 and 25, depending on the size of your practice) you want as a core group. Aim particularly for clients who provide regular sources of business as well as those who will refer others. Prefer them over just any potential client who comes through the door.
   
   

2. Focus your time on each of these core clients. Much of the time will be unbillable, but invaluable to learn as much as possible about the companies and institutions and about the people running them. It is assumed that most lawyers do good work which is technically sound. But, relationships are the key to a sustainable practice. One cannot stress that enough. Taking the time to meet them and have them evaluate your legal services on a formal and regular basis communicates one’s focus on continuous improvement and interest in the clients.
   
   

3. Adjust your priorities somewhat each year. No plan is perfect and a client’s personal or business circumstances can change. Re-examine your core client list regularly. Is it still viable? Does a significant proportion of your firm's annual revenue come from these clients? If not, it may be time to adjust.
   
   Your core client list should account for the largest portion of your firm's annual revenues -- over half the total. As a result, it's critical to stay visible within this group. If, for example, a file has lapsed into inactivity after a few months, arrange to meet with the client to review the services your firm provides and to re-kindle the relationship.





4. Finally, ask the top clients for additional work. Is there more your firm can do to obtain additional work from this client, especially if they are using other law firms? Or does the client know of other colleagues who need your services? Ask to come back and visit in 4-5 months, especially if you are not active on a file. And ask if you can bring another lawyer with you. Selling teams is easier than selling yourself even though it take more time in rehearsal.