109. Unlocking Financial Freedom: The Importance of Business Development for Lawyers

You have been practicing law successfully, handling files, winning cases, working tirelessly and billing many hours. But, now you hear you are expected to engage in business development. “What does that mean? How do I do it? Where do I find the time? I was never taught anything about this in law school!"

As we progress from young associates to successful majority partners, we learn that we are expected to develop business for the practice. Yet, we need training in business development. We never learned about it in law school. We have so little time. Why is this important, and how can we make it happen?

In this episode, I discuss the importance of business development for lawyers and provide ten practical steps for developing a successful business development plan. Building a book of clients not only makes lawyers more valuable to their firm but also gives them the freedom to move to another firm or start their own practice. However, many lawyers face common obstacles when it comes to business development. To overcome these obstacles, I provide steps such as establishing oneself as a thought leader, focusing on exceptional client service, and leveraging technology to streamline business development efforts.

These are 10 steps to follow:

1. Develop your niche.

2. Identify your target market.

3. Build your network.

4. Choose the path that suits you.

5. Establish yourself as an expert in your field.

6. Focus on exceptional client service.

7. Market effectively.

8. Be proactive.

9. Leverage Technology.

10. Measure your results.

Want to learn more about how to start developing your business? Please feel free to reach out to me at ⁠⁠⁠https://calendly.com/garymiles-successcoach/one-one-discovery-call⁠⁠⁠. Let’s chat!!.