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July 28, 2006

SRO: "Stealing and Keeping BigLaw Clients".

That's a predatory title for a "how-to" marketing seminar. But while discussing that very course title with an influential blogger/thinker I spoke with on the phone this week (refreshing, because I wrongly never make time to do that), he said to me in effect: well, Dan, why not?

Certainly, two relatively recent developments in law practice--first, boutique firms formed by elite lawyers voluntarily leaving large firms and, second, reasonably-priced technological advances which made smaller firms more nimble and powerful--have changed legal markets. The large law firm (300+), an institution I am quite fond of in its saner incarnations, will always have its role. However, high-end clients are no longer forced to hire large firms to obtain top drawer lawyers, results and service.

The contrary notion is a myth--a proven ruse. GCs are now smarter and bolder. Smaller firms can and do land and serve top clients. At top rates, too. It's about service, not price. No point not getting rich just because you start a new, smaller and more client-centric firm. Keep your high rate; savor your lower overhead, if you can achieve one. You deserve it. So a serious course on getting (okay, stealing) and keeping high-end clients (Fortune 500 companies and large Asian and European companies) might actually fly. But...I'm wrong a lot. Would that catch on? Are we ready? Any presenters out there? Hundreds might attend--but who would teach? Who can I get to speak? Who has experienced it, has credibility, is not afraid of the subject, can articulate it?

A new model is already here. Let's talk about it, and make it work. It's about time--and, hey folks, the time is right.

Posted by JD Hull at July 28, 2006 03:01 PM

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Comments

I have several solo clients who are already winning big when going after the same clients as larger firms.


Note to Mr. Hull, I don't know if your question was a rhetorical one, but it might interest you to know that there already ARE resources out there on this subject, albeit with a less agressive title. And I'll share a tip from my How To Market A Small Law Firm audio cd that can help any solo reading this, who wants to learn how to do the same:


FREE SAMPLE
Instead of competing against a large firm for a "bet the company" type of case, team-up with them. That's right...all over the country, solos with unique specialties are learning how to go to market WITH their big firm competitors to offer prospective clients the best of both worlds in a true win-win scenario.


NOT JUST FOR LITIGATORS
And don't think this approach has to be limited to litigators either. I once worked with a solo whose speciality is representing national franchisors. He teamed-up very effectively with a 50 lawyer firm that did't have anyone with deep franchise expertise, but they did have experience and depth in several other practice areas that were important to the prospective client.


Long story short, together they signed-on a lucrative new client that neither could have gotten alone. And we beat-out several much-larger firms in the process.


You don't have to wait around for larger firms to come knocking on your door. When you learn some of the Rainmaking skills they never taught us in law school, you'll find that alot more larger firms than you may expect, are far more receptive than you might imagine when a varierty of solos in different practice areas initiate contact. If done right, this can be a potentially HUGE source of business in most markets and in almost every practice area.


GETTING THE BUSINESS AND KEEPING IT
As far as my Rainmaking clients & I are concerned, the goal is to win BIG and keep winning big by keeping the client happy, not to make the large firm lose. Fact of the matter is that in many situations, solos really cannot service all of the needs of a big company with multi-state operations, all by our lonesome. And trying to assemble a team of similarly situated solos is a great idea in theory, but experience has proven it's much harder than you might expect. So I've explained Big Firm/Small Firm Economics 101 & shown some of my solo Rainmakers how to have the best of both worlds.


Respectfully,


RJON ROBINS
www.HowToMakeItRain.com
Helping Lawyers In Small Law Firms Make ALOT More Money!

Posted by: RJON@HowToMakeItRain.com at July 31, 2006 09:55 AM

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