In early June, I discussed the state of business development with a group of legal marketing and business development experts during a virtual session of the LSSO Global Sales Summit. They were candid when asked about how their firms are currently faring in three critical areas: lead sourcing, lead tracking, and new business forecasting.  

If you’re wondering why business development is so hard, it’s because you may be contributing to a system that treats its prospects poorly.

Historically, Rainmakers have been – and often continue to be – heroes at their law firms. And with good reason. Their seemingly effortless ability to regularly bring in large clients is a significant factor in a firm’s financial success. But beware, the Rainmaker can be a double-edged sword when it comes to the firm’s future growth.   

There’s never a shortage of work to do when you own or manage a book of business. With an endless list of tasks, business developers have to decide which items to cross off today – and which will have to wait until another time.