top of page
Search
Author Contribution

Rainmaking Women: The Future of Growth and Status in an Ever-Changing Environment

By Steve Fretzin


The legal landscape is always evolving. In the not too distant past, the idea that a woman could or should make it rain or run their own firm was considered absurd. It was a “man’s world” and women were only allowed to be in it. Well, today it’s a very different story. We now have women managing sizeable firms, leading GC roles and bringing in more business than many men do. So, what’s changed and how do women capitalize on this opportunity?


The first step is to look at the positive shifts in the legal landscape. In data found in a 2022 ABA study, we see some interesting trends.  •      


  • More women are currently in US law schools than men (55%).

  • More women are in corporate “power roles” than ever before.

  • Law firms are more interested in diversity and balance than in years past.

  • Firms are more family friendly. More work from home policies have been enacted.


That being said, there’s still a significant power gap between the men and women in the private sector. For example:


  • On average, women receive the same compensation as men, except at the highest levels.

  • Most women are not in a leadership or equity roles at their firm. (only twenty two percent)

  • Ninety-three percent of top earners are men.      

  • Women struggle with the work/family balance much more than men.

As you can clearly see, women are trending in the right direction, however, there’s tremendous opportunity for growth here. Developing your legal skills, personal brand and book of business is of critical importance to become a powerhouse in the legal industry. In my experience coaching women lawyers, the keys to success fall into three primary areas of focus.


  • Developing a solid plan for growth and sustainability.

  • Getting out of your comfort zone.

  • Becoming a master of your time.


To make the transformation from worker bee to business development assassin and firm leader, here are three tips to implement that have proven effective with the women I’ve helped dramatically grow their law practices.


Fretzin tip 1: Develop a plan that can’t fail

Have you ever heard the adage, “If you fail to plan, you plan to fail?” So very true. In my experience only two to four percent of all attorneys have business development plans. Most attorneys are out there “winging it” and hoping that business comes from their efforts. One of my clients once said he developed business through “Sheer force of effort.” Unfortunately, this effort comes at a price, time with your family or doing the actual law work given to you by your partners.


The key then is to develop a plan that cuts right to the bone.  As you know, wasting time is the same as wasting money. Every hour spent doing the wrong things, with the wrong people, the wrong way, will most certainly keep you from accomplishing your business goals.  A good step before writing a plan is to begin taking stock of your clients, referral sources and contacts. Always focus on the low hanging fruit first. Here’s my ranking of business opportunities from easiest to hardest.


Easy to hard:

  • Getting more business from your existing clients.

  • Cross-marketing your clients with additional services.

  • Obtaining quality introductions from your existing clients.

  • Leveraging your strongest relationships for direct business opportunities or quality introductions.

  • Developing strategic partnerships with good referral sources.

  • Attending conferences where prospective clients and referral sources are.

  • Attend/join local networking groups/associations to meet new referral sources or to develop new business.


Based on your experience doing business development and how strong your network is, you may be able to work the top of the list. Others may have to begin from the bottom. Whatever the case, create a list of people to contact and set aside time every week to proactively reach out to meet with them.


Fretzin tip 2: Get out of your comfort zone.

A few years ago, I had a female client who was struggling with a big problem. She was attending conferences (good), she was meeting with the highest-level GCs in the country (good), BUT she was in the “friend” zone and she didn’t feel comfortable bringing up the topic of doing business (bad). Additionally, this had been going on for YEARS (really bad). From a “time is money” and a lost opportunity cost perspective, this was devastating to her.


Developing a plan to reconnect with key clients and contacts is great, but without the right attitude and approach to business development, it might all be for naught. For me, the easiest way to get my head wrapped around this seemingly difficult issue is to consider that I’m the best at what I do. I derive this confidence based on my past successes and results with my clients. My success therefore, drives me to want to help more and more attorneys to succeed.  For example, I know that when I work with an intelligent, motivated and coachable attorney, no one can get an attorney better results. Can you say that about your work as an attorney? If you know you’re great at what you do, it’s easier for you to buy into the idea that your GC friends, neighborhood CEO or past law firm partner who went in-house would truly benefit from working with you.  If this is not the case, keep working on your lawyering skills!


Once you have the belief in yourself, it’s time to craft some language to make the “ask” without ego or pandering like a cheap dime-store salesman (gross). For many women attorneys who are stuck in the friend zone, you should try saying, “You know Becky, I love meeting with you at these conferences and truly appreciate our friendship. I am curious as to why we’ve never discussed working together. Have you ever considered this?” Or, “You know Becky, I love meeting with you at these conferences and truly appreciate our friendship. While I would never want to jeopardize our relationship, I know I would be of great value to you and your company. Would you be open to discussing a way for us to work together?”


Okay, so what’s the worst that could happen? If your friend has a great reason why you can’t work together, well, now you know, and you can move on. If your friend loves the idea, you will be kicking yourself for not bringing this up years before. One of the best things I’ve learned in business development is that knowing is always better than not knowing. Sound’s simple, but most business developers live in hope that things will happen. To me, hoping is like dreaming. It rarely leads to clarity, assurance or real results.


Fretzin tip 3: Become the master of your time

Is balance really achievable for successful women in law? Can you develop your book, gain a leadership role at your firm and take care of your family without going nuts?


In my experience, this is only achievable to the lucky or the women who master the skill of time management. Like with business development, time management is a learned skill. In fact, I was incredibly disorganized when I first started my business over 15 years ago. My desk was a disaster, I was always pushing important tasks off and I could never seem to get anything done on time.  After my first year, I realized that this wasn’t sustainable and decided to begin studying the art of time management. After six months I had cleaned up my clutter, eliminated time-wasting activities and crafted my week for efficiency. Here are three things I did that made all the difference.


For me, step one was cleaning up all of my messes. I went through my two offices and my emails to throw out, file away or take action on everything in front of me. This purging took over eight hours, but once completed it felt like a thousand pounds had lifted off of my shoulders. Without doing this first, it would have been very challenging to continue my progress.


Once the purging was done, I moved to phase two. This was to look at my workday in 15-minute increments to better understand what I did all day and what I needed to change or remove from my life. This exercise will blow your mind. We are distracted most of the day doing unproductive and medial tasks. Ask yourself:


  • What should I be doing or not doing?

  • What should I be saying “no” to?

  • Is this mission critical or something I need to put off?

  • Am I doing this efficiently?

  • Is this task below my pay scale?

  • Is there someone else that can do this?

  • Can this be done early, late or over the weekend?


The key here is to write your entire day down to better identify wasted time, poorly executed efforts and tasks that can be delegated. Simply handing off five to ten more tasks may make all the difference for you. The end result should be more hours opened up for business development activities and family time.


As time management relates directly to business development, here’s some food for thought. While you may have to sacrifice a few years to get your book of business built, the benefits after you’ve succeeded will out-weigh the sacrifice. Working on and delegating your own work gives you the control to have more balance in your life.


The third and final step was to commit to only doing the most fruitful tasks during the work day. For me it was working with clients, engaging in high-level prospecting activities and writing. For you it could be billing your hours, engaging in high-level business development activities and assisting your firm growth initiatives. Even committing to 15 minutes a day can make a world of difference in developing your book or building your brand.  Whatever the case, becoming an expert at time management allows for success in business and in life.


As a coach and trainer exclusively for attorneys, I am in the unique position to observe words and actions that most attorneys are not privy to seeing or hearing. Many of the women that I’ve work with start out with the same concerns you might have about balancing a heavy workload, personal health and the needs of the family.  In the end, their optimism, motivation to succeed, combined with excellent planning and execution won the day.  The good news for women in law is that things are getting better every year. While I’m not suggesting that any of this easy, nothing worth doing usually is.


For more information about business development coaching for lawyers, please check out my website at www.fretzin.com or email me directly at steve@fretzin.com


 

About the Author

Driven, focused, and passionate about helping lawyers to reach their full potential, Steve Fretzin is regarded as the premier coach, skills trainer, and keynote speaker on business development for lawyers.

Over the past 18 years, Steve Fretzin has devoted his career to helping lawyers master the art of business development to achieve their business goals and the peace of mind that comes with developing a successful law practice. In addition to writing four books on legal marketing and business development, Steve has a highly-rated podcast called, "BE THAT LAWYER."

When not busy helping ambitious attorneys to grow their law practices, Steve enjoys fishing with his son, playing many racquet sports, and traveling with his wife.


2 comentários


adamrobinson132
11 de abr.

Psychotherapie (auch Kommunikationstherapie genannt) bezieht sich auf eine Reihe von Behandlungen, die darauf abzielen, jemandem zu helfen, beunruhigende Gefühle,heilpraktiker psychotherapie stuttgart Gedanken und Verhaltensweisen zu erkennen und auszutauschen. Die meiste Psychotherapie erfolgt im Einzelgespräch mit einem zertifizierten Psychotherapeuten oder mit anderen Patienten in einem Gruppensetting.

Editado
Curtir

Mercer Online
Mercer Online
10 de abr.

When shopping at thrift stores, certain clothing items may be best avoided due to hygiene concerns, wear and tear, or difficulty in finding the right fit. Among the worst items to purchase are underwear, socks, and swimwear, as these intimate items pose sanitation risks. Shoes can also be problematic due to potential foot infections or discomfort caused by previous wear. Additionally, heavily damaged or stained clothing, 5 Worst Clothing Items to Buy at Thrift Stores especially items with irreversible damage like holes or strong odors, should be avoided as they may not be salvageable. Lastly, items with complex alterations or repairs needed might not be worth the effort and cost, making them poor thrift store finds.


Curtir