Networking is essential for lawyers seeking business expansion. When executed proficiently, it fosters relationships and enhances business prospects. Here are some considerations to enhance the effectiveness of your networking:
- Establish clear objectives for your networking endeavors: Define the outcomes you aim to attain, whether it involves connecting with potential clients or referral sources to generate new business. Alternatively, it could be gaining insights into diverse perspectives within your practice area. Consider a combination of these goals to prioritize and optimize your time and efforts.
- Pinpoint suitable networking occasions: Seek out gatherings, associations, and communities that align with your objectives and cater to your intended audience.
- Harness the power of social media: Employ social media platforms like LinkedIn to connect with fellow professionals within your field and individuals within pertinent industry sectors of your practice areas. Share relevant content and participate in online discussions to position yourself as a thought leader.
- Cultivate authentic connections: The essence of networking lies in constructing enduring relationships, rather than merely amassing business cards. Concentrate on forming sincere bonds with individuals and identifying opportunities for mutual assistance.
- Consistent follow-up is crucial: Neglecting to follow up is a significant mistake in business development. When you invest time in initiating conversations at events or sharing meals, take the initiative to follow up and deepen the relationship. Failing to follow up on a relationship you find valuable renders your initial efforts futile. Regularly check in with your contacts to remain memorable—send a brief email or message to stay on their radar.
- As a lawyer, your schedule is packed, and time is precious. I’m consistently amazed at the amount of time lawyers allocate to coffee, lunch, or drinks with the same select group of individuals regularly. The key takeaway is to evaluate your networking endeavors, ensuring that you aren’t investing excessive time and resources in the same contacts without any substantial returns. It’s crucial to shift your focus towards acquiring new connections and diversifying your network.
- Exercise patience: Networking is a gradual process, so remain patient and persistent. Constructing meaningful relationships requires time and dedication, but the rewards can be substantial.
Keep in mind that the cornerstone of effective networking lies in prioritizing relationship-building and delivering value to your network. Through this approach, you will cultivate a robust network that can contribute to the growth of your practice and foster success in your legal career.
If you are a lawyer aiming to strategically enhance your business development, I’m available to help. Let’s arrange a complimentary discussion to explore how coaching might aid your progress and address any queries you might have. Please reach out to me at larry.stroud@korverge.com to schedule a time.
I do ‘Business Development’ coaching. Not life coaching. Not career coaching. The coaching is specifically tailored to business development in the legal profession. My focus is on helping lawyers build and retain client relationships, as well as winning new clients.
I have been a partner at two international firms and have dedicated the past 20 years to coaching individual lawyers in business development.
My clients range from lawyers in national and international law firms to those in regional, small office, and specialized boutique firms, as well as solo practitioners. Based in Toronto, I work with clients throughout Canada, having also worked in several other countries. I’m typically engaged either by individual lawyers or firms on a retainer basis to provide ongoing coaching for their lawyers at various stages of their careers, and in certain cases, to lead targeted workshops.