Tuesday, January 17, 2012


Value of Mentoring

January is National Mentoring Month.  Recently, I read a great book called Halftime by Bob Buford. It discusses how the first half of life is spent chasing success and challenges that the second half should be about chasing significance.  

As a pirate looking at 40 and Halftime, I’m sure that I am not alone when I look back and am able to see the relation between causes and effects. Perhaps over the holidays you took time to reflect a bit on decisions made and people that help shape you. 

I had the incredible experience of interning for the Florida Marlins and Florida Panthers while in college. Working in the Broward Mall, I met Bill Beck and struck up a conversation over baseball and life. For a kid that loves baseball, talking with someone who had worked in Major League Baseball for years was a treat. Turns out he worked for the Florida Marlins and a few months later needed an intern when he moved to the Panthers.  He called and offered me the job.  I learned so much about professionalism from him. How you can be kind and respectful and get ahead.  How to dress the part of a professional.  A few years later he mentored the Marlins management by suggesting a manager named Jack McKeon that he had worked with while with the Padres to a floundering 2003 team. The rest is history.

The Panthers led to the Marlins and working for Jorge Arrizurieta.  Jorge was tougher, but sometimes the best mentors are the ones that see potential when you don’t and pull it out of you.  Jorge came from the political world.  He proof read every line, corrected each gaffe (and at 20 there are plenty) smoothed the edges a bit. How you addressed people, dealt with deadlines, took ownership of an issue. Instilling that it’s not what you say, it’s what people hear and feel.

Mentors hold you accountable. They take strokes off your game.  They are also humble and vulnerable.  Nobody wants to hear about someones perfect life.  The best stories are the ones where someone overcame something.  Do you want to learn from the attorney that proclaims to have never failed or the one that has more times than they can count and what they learned from it?

Dr. Robert Lewis talks about “mentoring up”, and “mentoring down”.  Only you know your true blind spots, passions, and strengths at Halftime.  If you want to be a better spouse, parent, attorney, maybe have a stronger walk in faith, look for folks that are a few years ahead of you and are where you want to be.  I have yet to ask someone to teach me about what they have learned in life and been turned down. Why learn the hard way?
Perhaps you have noticed someone that reminds you of yourself 15-20 years ago.  Take them to lunch. Ask them about their dreams and help if you can.  To a 20 year old kid at the Broward Mall it made all of the difference in the world.

Friday, December 2, 2011


Book management         

One of the areas that my legal recruiting and client development consulting businesses collide is in the daily conversations about “The Book”.  What I am quick to find out is that some attorneys have an encyclopedia and others have more of a magazine article.

Very rarely do I speak with an attorney at the 20+ year mark that has significantly more in business than they did at the 12-15 year mark in their careers.   In short, their book is their book because how they develop business is the way that they always have.  For most that was okay, until a couple of years ago. What was thought to be the amount of business, that seemed to come in every year, suddenly became “the guesstimate”. A chasm has formed and rainmakers have separated from the pack by how they manage their book.  

On the recruiting side a lot of firms have doubled what they look for in portable business. There a lot of firms that overextended themselves on promised business and have risk adjusted anything that they hear from a candidate. Second, not many attorneys can clearly identify how much business that they originate, from who, and can they really call them “their client”. The ones that can know their metrics for growing their business.

The attorneys that I speak with that have maintained or grown in this economy have a few common traits:

  • Time is blocked every week for quality prospecting and harvesting activities: networking, referral contacts, targeted seminars, email, newsletters, anything that is where their target market is, they are front and center. Filling the funnel. 
  • They qualify opportunities in or out quickly based on bill rate, type of work, quality of clients/ work.
  • They don’t play bill rate bingo.  Their rate is their rate.  Somebody will do it cheaper, but not them.
  • They know their clients goals and issues so well that if they hung a shingle on the moon the clients would follow them, and the attorneys KNOW that.
Looking toward the end of the year and setting goals for 2012, how many of these traits do you practice?  Now is the time to determine your metrics and what a 500k, 1 million, 2 million dollar practice looks like and what steps need to be taken to get there. Time is sacred, but there is always time for a good book…

Please contact me about how you would like to further develop your client base at: 850-893-8984, Andrew@Wilcox-legal.com

Monday, September 26, 2011

The Mad Dash


9 months into the year we all look back and wonder where it went.  October 1 signifies the start of The Mad Dash.  In many firms and companies also known as Q4.  This is the money quarter.

When I do sales training with companies and look over their yearly revenues you would simply be amazed at the spike (hopefully) in business that is directly related to Q4. Typically though, it is the highest revenue, but lowest margin quarter.  It’s what gives management grey hair, and gives the producers a time line to clear out bad opportunities, close good ones, secure revenue, and end with the bonus that you had worked for.

With the shorter timeline, how do you optimize that time to get the most out of your business and maximize your bonus?

The good news is that you have 9 months of data to go off of.
  • Determine what has worked and what hasn’t from your business plan for 2011.  The stuff that hasn’t, stop doing, and put your time and resources into the stuff that has.
  • Recalibrate billing vs. collection. When I talk with attorneys about their “book” I always hear a billed hour number.  If there is a gulf between those two items you are working for free and with such little time to optimize your bonus it’s time to collect and spend time toward things that optimize your plan.
  • Clean out your pipeline.  Those institutional opportunities that you started the year with and saw stalled into summer, clear them out if you are still working on them.  If they haven’t seen the value in securing your services by now, let someone else waste their time on them.
  • Talk with your clients. It’s been a tough time for everybody.  Learn things about them that you didn’t before. Be more than a bill they get.  Help where you can. Ask for referrals. Be an investment for them, not a cost.  If you are a cost, Q4 is when they will start figuring out if they can get your service cheaper next year  It costs 85% more to develop a new client than to keep an existing client. Just spoke with an attorney who had a 1.1 million dollar book and lost a client of 23 years that made up about 700k of that.  Think you are irreplaceable..?
  • Meet with other practice area leaders.  Is there work for their clients that you could be handling or vice versa? This is low hanging fruit. Depending on your comp plan this could be the difference between a good bonus and a great bonus.
Feel free to contact me at: Andrew@Wilcox-legal.com, 850-893-8984

Wednesday, August 10, 2011

Marketing to your prospects triggering events


When I speak with attorneys about their client development strategies I often hear about leveraging existing clients, referrals, and attempts to cross-market with other attorneys.  The top rainmakers are effective at all of these things and more.  A lot of business gets left on the table, however, because while trying to secure new business, attorneys listen for active needs rather than latent issues that may arise from a prospects day-to-day operations. 

These molehills that become mountains are known as triggering events and by being first to help a client or prospective client identify and navigate these events, you have the greater opportunity to be the one who they ultimately choose to help solve the problem and achieve their goals.

There are several services beyond the local business journal that provide this information and it doesn’t take long to set your Web 2.0 strategy to deliver information to you:  Insideview.com, CorporateAffilation.com, LinkedIn, RSS feeds ,Twitter, and my new favorite NimbleCRM.

In fact, just like playing in the RFP world, by the time it’s hit the business journal, it’s too late. Everyone knows and everyone is trying to get in. 

Would you rather compete with everyone to get the meeting after, or be the one that gets the call from a prospect when they don’t want the news hitting the papers?

Below are examples of triggering events. Think about: 1) What are the issues driving the change? 2) What business level job title would be responsible for making decisions? CEO, VP of Sales, COO, VP of HR,etc. 3) How have I helped other clients with these issues in the past? 4) Do I have any contacts that I could leverage into a business discussion with the key players involved?

Internal Triggering Events
• Poor quarterly earnings - or stellar results
• New product/service announcements
• New management or ownership
• Name changes; new positioning
• Venture capital funding
• Expansion into new market segments
• Opening up new geographies
• Real estate and construction activity
• Layoffs, downsizings or rightsizings
• IPOs (initial public offerings)
• New relationships, affiliations, partnership
  activity
• Personnel changes in key positions
• New customers; lost customers
• Job openings
• Corporate relocations

External Triggering Events
• Legislative changes: new laws, regulations
• Natural disasters
• Changes in the competitive landscape
• Trends impacting customer base
• New technologies

This is where your network and cross-marketing comes in. In previous blogs, I have talked about feeding your network.  What triggering events would help your network or team? Is that the open door to that prospect that you have been looking for to secure business in your practice area?

If you are interested in learning how other attorneys have created a repeatable process to leverage these types of events and grow their practice feel free to contact me at: Andrew@Wilcox-legal.com, 850-893-8984