By Michael Moore, Moore’s Law, Milwaukee
Dec. 1, 2010 – During the Vietnam War, economist Daniel Ellsberg became famous for releasing the Pentagon Papers. However, he is also the creator of the Ellsberg Paradox, which illustrates why we dislike ambiguity.
In an experiment, Ellsberg showed his subjects a container with 50 red balls and 50 white balls. When asked to bet on whether a ball drawn at random from the container would be red or white, his subjects hesitated to make a choice. Then Ellsberg offered a second container of 100 red and white balls but did not disclose how many of each color were in the box. When asked which container was more likely to have a red ball drawn at random, the subjects consistently chose the first box. His subjects were more comfortable choosing the first container than not knowing how many balls of each color were in the second container.
The Ellsberg Paradox illustrates our aversion to ambiguity. If we create plans with goals and objectives that are too broad, our aversion to ambiguity may make us unwilling or unable to engage in the effective and positive activities necessary to create success.
Planning with clarity
Creating a client development plan for revenue growth is a frequent topic of discussion for law firms. Instead of writing an ambiguous goal to “Increase billing revenue by 10 percent,” a specific goal, like “Add one new tax client,” is better. Effective plans include goals, objectives, strategies, and tactics. Stephen Covey suggests we “start with the end in mind.”
Define goals in terms of where you want to go and what you want to accomplish. Your objectives are the milestones by which you measure progress toward these goals. Strategies are the methods you intend to use to achieve your objectives. Tactics are specific activities within each of the chosen strategies. For example, “Add one new tax client” now becomes “Write tax an article, speak at a tax conference, meet five new potential clients and turn one of these into an active client.” The vagueness of increasing billable revenue is now transformed into a specific plan to add one new client.
Client development is a contact sport
Make time for client development. Schedule client development activities each week. Decide what to do, estimate how much time it will take, and then schedule it on your calendar. In this way, client development will become a habit. Apply the same method to staying in touch with referral sources. Don’t meet with clients and referral sources only when you have an open date on your calendar or can’t find anyone in your office to go to lunch with. Prospective clients should find these contacts valuable, rather than perceive these activities as a way to sell your services. For example, offering new information on a pending development or seeking advice on a nonlegal issue can spark interest in getting together.
It’s not who or what you know, it’s who knows what you know
Successful client development requires you narrow your target market and raise your personal visibility within that market. Potential clients will expect you to understand their industry, their company, and them individually. Find out about their industry publications and subscribe to them. Read what they read, go to the industry meetings they attend, and join the organizations they belong to. Attend events you would rather skip. Find opportunities for writing and speaking on their challenges and give them advance notice of new developments. By doing these activities, you are in the best position to identify their problems and future opportunities that will require legal help.
Empathy is a critical skill
Broad client development activities like speaking at seminars or writing for publications must lead to individualized face-to-face dialogue to produce results. Look to attract potential clients who want to take the next step with you personally. Once you have direct contact with a potential client, listen to what is being said. What is the potential client’s problem? How might you help? You want the potential client to feel comfortable exposing their problems to you. Then you can narrowly identify how your specific knowledge might benefit the potential client. Your goal is to have a conversation, a mutual exploration, creating an opportunity to guide the potential client through a specific legal situation. Helping them define their most critical issue greatly increases your likelihood of success. People resist what others try to make them do, not what they themselves choose to do. Help the potential client choose to solve their problem by hiring you.
Overcome your fear
Asking for business is a fear shared by many, even if we know we can solve a potential client's problem. Often, it's a matter of finding the appropriate wording. Be courageous, confident, and bold with potential clients. Don't be arrogant, but don't be afraid of being rejected or failing. Be proactive because clients prefer lawyers with initiative. Why would they hire a lawyer who is not direct enough to adequately protect their interests? Do your best and then let go of the outcome. Trust the process. You'll either get the client’s work or you won't.
Life is full of risk and uncertainty. It is human to have fear; just don't let it paralyze you into inactivity. Successful lawyers don't let fear of failure stop them. In the words of the great country lawyer Abraham Lincoln, “Good things may come to those who wait, but only things left by those who hustle.”
About the author
Michael Moore, Lewis and Clark 1983, is a professional coach for lawyers and the founder of Moore’s Law, Milwaukee. He specializes in marketing, client development, and leadership coaching for attorneys at all levels of experience. Moore also advises law firms on strategic planning and resource optimization. He has more than 25 years’ experience in private practice, as a general counsel, in law firm management, and in legal recruiting. For more information, visit www.moores-law.com.
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