2. Clientsexpecttheirattorneystoknowthemandknowtheirbusiness.
They want counsel that is not only reactive to issues, but proactive
in identifying their needs and proposing solutions to problems
that haven’t yet arisen. Indeed, research indicates that firms that
leverage their client research into action enjoy 2.7x returns.1
“Make the effort to get to know our Legal Department:
our goals, our priorities, our constraints and pressures,
our initiatives, and yes, our lawyers and our culture.
Work harder at learning to work with us.”
—Anonymous General Counsel2
1
Source: BTI FACT— 2015. The BTI Consulting Group
2
“Straight from the Horse’s Mouth—GCs Say What They Want from Outside Firms”
—Pam Woldow & Doug Richardson, 2014. Edge Consulting US, LLC.
As a partner, you now have greater authority to initiate discussions
and explore client’s needs, objectives and satisfaction. Consider
working with your colleagues to survey clients in your practice area,
explaining that you want to understand their evolving needs and
get their honest feedback in order to serve them better. Research
their industry and embrace their business goals—not just legal
issues—as your own.
Itisoftensaidthatbeinginlegalpracticetodayislikebeinginastate
of perpetual whitewater. The power balance has shifted in favor of
corporate clients, with in-house attorneys now more prepared to
keep work in-house. Further, they are putting pressure on fees and
have begun to disaggregate the services they do outsource.
Accordingly, there is continuing pressure on firms to increase the
efficiency, predictability and cost-effectiveness of their work.
The partners who come out on top are those who work within
budgets, proactively anticipate client demands, and develop project
management capabilities.
Cultivating a style that adapts to and leverages the rollercoaster
of industry and client requirements is key for setting the tone as a
new partner.
CONGRATULATIONS! After years of hard work, you’ve finally made it to partner.
Now that you have achieved your new status, your focus is likely on setting yourself up for
continued success. Here are seven tips that will help you make a splash as a new partner.
1 RIDE THE ROLLER-COASTER
2 UNDERSTAND YOUR CLIENT
REUTERS
3. As a new partner, there will be a greater need than ever to build
meaningful and constructive relationships and be a strong
ambassador for the firm. Law firm leaders must juggle a delicate
balance of judgment, timing, and vision.
You now speak for the firm, along with the other partners. Consider
the firm’s goals and how they are articulated, and continuously ask
yourself how you can help the firm better accomplish its objectives.
How could your marketing be improved? How can practice
management be improved? How can associates collaborate better?
How can you improve training to get associates up to speed more
quickly? Always remain open to feedback, good or bad, from
clients and juniors alike.
3 EMBRACE THE ROLE OF FIRM LEADER
Determine what you are going to be known for. What is your
personal brand in terms of the work you do and how you do it? The
more differentiated you are, the more memorable you are. Select a
niche based on your knowledge base, factoring in industry trends
and competitive factors.
The goal is to identify a growth opportunity, then cultivate a
precise brand that speaks to the needs of your target clients
and demonstrates you’re the go-to-expert. Billing rates are less
vulnerable to pressure when you’re a recognized authority on a
specific area, and word of mouth will flow more freely.
5 IDENTIFY YOUR NICHE
4 REFINE THE ART OF DELEGATION
An important quality of a leader is knowing when and how to
delegate. Now that you’re a partner, clients expect you to play a
different role in the management of their matters. If your billing rate
is higher now that you’re a partner, some clients will be concerned
about paying you more for the same work you did a short time ago
for less. Be clear about the added value you’re delivering now that
you’re a partner, and make sure you are focused on partner-level work.
They will now view you as someone who should oversee their cases
and delegate to more junior lawyers, while reasonably estimating
the time and expense a matter will cost them. Honing these skills
will be integral both to minimizing unbillable hours and to growing
your clients’ loyalty.
4. ABOUT PRACTICAL LAW
Practical Law helps law firms practice smarter, operate more efficiently and better serve clients.
From helping a first year tackle a new project, or making sure you have the latest analysis of current market trends, to supporting professional
development and knowledge management initiatives, we offer practical legal know-how that helps law firms meet the demands for a more
efficient practice.
Our law firm subscribers currently include 85% of Am Law 200 firms and hundreds of mid-size and boutique firms.
To learn more or request a free trial, call 888.529.6397 or visit www.practicallaw.com
“I love Practical Law. The quality of the work product as presented by Practical Law is absolutely superior. In particular, the high-quality precedents
add a valuable dimension to our own resources.” —Alan Berkeley, Partner, K&L Gates LLP
You have an identifiable niche; now it’s time to ensure you are
recognized as an authority in the market. When the firm circulates
their announcement regarding your new role, get them to provide
press releases to your town, college, law school and bar association
publications, plus local and national business publications where
appropriate.
When sending materials to clients, tailor the notices to include
information about how your new status can help you better serve
their needs. Handwrite notes to your personal contacts and follow
up with them individually.
Since existing clients are key sources of referrals, they will be
integral in stimulating new demand for your firm’s services.
Take advantage of social media and ensure your LinkedIn profile
is updated to reflect your expertise. Share articles you’ve written,
and consider “news-jacking”, re-posting articles relevant to your
niche with your comments to demonstrate your expertise. Consider
becoming more active in key industry groups to elevate you further.
Establish how much time you are expected to invest in marketing,
pro bono work, bar activities, and any other standards. Other
partners will expect you to be actively involved in business
development.
Take advantage of the information, tools and people at your
disposal to keep expanding the salience of your expertise. Build and
leverage alliances both within your firm and with other key players
in the industry by investing time in industry and networking events.
Brainstorm with colleagues about potential sales opportunities
and marketing tactics. Identify opportunities to promote multiple
practice areas simultaneously, and to cross-sell new expertise to
existing clients. Provide and request introductions to clients that
might benefit from further support.
6 MARKET YOURSELF
7 LEVERAGE RESOURCES FOR BUSINESS DEVELOPMENT
