lmatech2013: bizdev training 2.0 – technology that improves lawyers’ ability to make rain

BD Training 2.0Technology that Improves Lawyers’ Ability to Make Rain

Panelists:David Ackert, Practice BoomersBill Flannery, WJF InstituteMike O’Horo, RainmakerVTModerator: Jonathan Fitzgarrald, Greenberg Glusker

Four Keys to Teaching Young Partners How to Build Their BusinessBy Ed BurkeThe Am Law Daily, April 2013

Here’s a logic problem with practical consequences: Given that a firm’s survival depends on revenue; that revenue comes from sales; that lawyers are the ones charged with bringing in revenue; and that most lawyers can’t sell and don’t want to, which of the following should law firms do?

A. Keep depending on a handful of rainmakers with portable business.

B. Fire the CMO—again.C. Scrap the existing compensation plan for one that truly

provides a motivation for selling.D. Teach the lawyers how to sell in a way they’ll accept.

Firm directive: Increase business

Business originators

CRMWebsite

Sponsorships

Rankings

Events

The conundrum

Salesperson

Lawyer

Business origination: lawyers

Business origination: CMOs

Flannery: Client Development andRelationship Management Workshop Agenda

• Workshop: Day One– Introduction and Framework For The Future– The CD & RM Process Overview– Conducting Client Needs Interviews– Understanding the Client Decision Making

Process– Designing Client Service Improvement Plans– How to Get Decisions– Review and Summary

Flannery: Client Development andRelationship Management Workshop Agenda

• Videos: Day Two– Presenting or Proposing Solutions– Case Study and Video Interviews

• Team Presentations: Day Three– Case Study Team Presentations– Team Strategy Discussions– Follow-Up Plan

Rainmaker VT

• 24/7 access “when you need it” • “Just in time” self-directed learning• Make mistakes in a safe, virtual

environment• The program’s interactive style

enhances engagement and retention by 25-60%

Practice Boomers

• Changes lawyer behavior - turns BD into a habit

• Performance metrics reported to marketers

• Group coaching “Masterminds” reinforce accountability and implementation

• Consistent ROI to law firms

Why these programs are viable

• Engage all learning modes – visual, auditory, kinesthetic

• Personal, personalized• Convenient: work online at own pace• Establish skill baseline, review after training• Trigger attorneys' competitive natures

Why these programs are viable

• Integrate w/law firm support systems• Role for the marketing staff • Intelligent tech use• Netflix “Just in Time” model• Track performance metrics• Funded training = commitment• Easy for lawyers to ignore internal expert• Pay more attention to paid external expert

What are some best practices for BD training (in-house or outsourced)?

What techniques can firms use to tie BD training to ROI?