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 who is hesitant about business development or simply needs help taking it to the next level, I would be happy to have a complementary conversation with you to discuss how coaching can help and answer your questions. Send me an email and we can set up a time to speak: larry.stroud@korverge.com
I do ‘Business Development’ coaching. Not life coaching. Not career coaching. It is focused on business development through client development, client retention and winning new clients. I bring over 25 years’ experience in professional services. I have been a partner in two international firms and for more than 15 years have been a business development coach for lawyers. My clients include national law firms, regional firms, small one office firms, specialized boutique firms and solo. I am based in Toronto and have worked in a number of countries.