Networking to Build Your Business

www.mavenagency.com

Strategies for Client DevelopmentMarch 17, 2010

Co-Founder of Maven, a full service, strategic communications agency located in Philadelphia

Big agency experience, entrepreneurial attitude Specialized experience in legal and professional service

communications Public relations Message development Strategic planning Crisis management Corporate and executive branding and media training

Rebecca Devine, PrincipalMaven Communications

Statistically, all of us have a network of at least 200 peopleStatistically, all of us have a network of at least 200 people

Networking

The key is to foster your network into active RELATIONSHIPS

It’s not about selling; it’s about connecting

Who is in your network? Clients Other attorneys

Non-competing firms Attorneys with conflicts Opposing counsel Law school contacts

Colleagues Judges Consultants (accountants, bankers, financial advisors, executive recruiters) Alumni Neighbors Friends and Family

Where are your opportunities? CLE events Bar Association events Fundraisers Charity functions HASP sponsored events

Sponsorship Tickets Coffee shop …and pretty much every public space

Building Your NetworkFocus on Current Clients and Referral Relationships Current Clients are your biggest source of potential new business

3 – 5 times cheaper than obtaining new clients You already know them

Referrals can help grow your business and make you an invaluable resource to others Referrals are the people you know – accountants, friends,

alumni, etc.

Building Your NetworkFocus on Current Clients and Referral Relationships

Remember – most successful relationships are like plants – they need constant tending to grow.

It doesn’t happen overnight!

Networking Basics Preparation

Build your brand first Set goals and expectations Learn about current clients and referral sources

Get involved Use social media tools Follow up Be patient – ongoing persistence and consistency are key. Periodically check in on goals

Preparation Build Your Brand First

Look and act the part First impressions are still

important

Preparation Build Your Brand First

Competence: Describe your knowledge, skills and expertise and experience

Approach: Describe your strengths. Describe your experience. What are you known for at the firm?

Firm Knowledge: Do you know what is going on at HASP? Do you know what other attorneys are working on? Be able to communicate your colleagues strengths and experience.

Remember: Your first priority should be mastering the craft.

Preparation

Create your elevator speech Describe what you do in 30 seconds

or less Use it as a tool to promote

conversation

Preparation Good:

I am an attorney that helps keep people out of prison

I save businesses money I protect small businesses from

being taken advantage of Bad:

I am a lawyer I am a litigator

PreparationSample Elevator Speeches My name is Rebecca Devine. I help corporations , non-

profits and individuals build better relationships to improve bottom line business results. As a principal of Maven, I help clients connect with internal and external audiences via public relations, message development and marketing consulting.

PreparationSample Elevator Speeches – Legal My name is Andy the Ampersand and I help businesses

and business owners address disputes that affect their bottom line. As an attorney at HASP, I help clients find the best solution – whether its to settle a case or take it to trial – so they can sleep at night.

Preparation Set Goals & Expectations

Who do you want to talk to at each event? Who do you know at the event that you can introduce

someone to? What action item do you want to take away from the

encounter?

Preparation Research participants you want to talk to before the

event Who is the host? Who will be attending? What is going on with their business? Who do you want as your client?

Size: Small to medium regional businesses; large, public corporations

Industry: Health care, financial, manufacturing, law

Preparation Don’t forget to bring - AND TAKE - business cards to

each event Pack a pen!

Make notes on cards you receive so you know who they are Enter their information into your database after the

event

Periodically check in with contacts to stay top of mind

Tips for Success: #1 - Get Involved Don’t just join – increase your visibility by getting

involved Bar Association committees Non-profit boards Pro-bono case boards Industry trade groups Alumni association groups

Tips for Success: #2 - Let me tell you a little story about a man named Shhhh

Tips for Success: #3: Listen for Business

Tips for Success: #4 - Know Thy Client Before you meet a client:

Get to know your clients business – what makes them tick? Ask thoughtful questions Demonstrate your knowledge of the industry, the company

No Fishing Offer referrals where you can Provide insight on what you’re hearing about the market Take notes – writing things down demonstrates an active interest

LISTEN, LEARN, REPEAT

Tips for Success: #4 - Know Thy Client Sample Questions:

What are your future goals for the company in the next 12 months?

Tell me a little about some obstacles your company has encountered in the past.

Are there any foreseeable changes you see that may impact the firm?

I’ve been reading a lot about XYZ company issue in the news. How have you been handling this issue internally?

How can HASP help make your job easier?

Tips for Success: #4 - Know Thy Client

Avoid: Dominating the conversation The hard sell Ignoring non-verbal cues

So You’ve Connected…Now What? Follow up after each encounter

Thank you notes - old school yet effective Add each contact to InterAction with notes on where you met

them and relevant details (met at PBA event; likes scotch; may need accountant referral)

Email Connect on LinkedIn or other social media Set a reminder on your calendar to follow up with specific

contacts

So You’ve Connected…Now What? Stay Top Of Mind - Send relevant news and firm updates

REGULARLY that impact their business Use your resources to demonstrate to clients/referrals you are

thinking of them Google Alerts (www.google.com/alerts) Lexis Nexis RSS LinkedIn and Social Media

Keep issues top of mind, proactively contact them when you see relevant news in the marketplace

Personally send relevant thought leadership materials and client alerts

Invite them to HASP hosted client events or HASP sponsored events

Schedule follow up meetings or calls

So You’ve Connected…Now What? Consistently monitor and check in on your relationships Match them up with your goals and assess how they are

working for you

So You’ve Connected…Now What? MAKE THE ASK

Once you’ve established a trusted relationship, you have to take the plunge

Do not feel awkward about asking referral sources, friends and contacts for business in the right way - you are sending them business as well! Ask - How can we help you?

Keep at it Have an entrepreneurial mindset – set goals; know who

your targets are Learn about your clients and referral sources Follow up after each activity Think of ways to keep in touch

News on the client, legislative updates, client alerts Leverage online tools Treat networking like any other legal matter

4-6 hours week

Tips for Success

Discussion/Q&A

Discussion/Q&A Doesn’t this take up too much time? I’m already involved with several associations, but

nothing has happened – what gives? Can’t I just wait for business to come to me? How do I know what to ask for? What about social media?