Have you heard the saying don’t put all your eggs in one basket? Well it’s so true for business professionals, especially lawyers.
Diversification of your client base is crucial for lawyers as is not relying on one or two clients for all of your work, because change happens within organizations and to organizations every day.
People leave companies, needs change, mergers happen. Companies go out of business. You just never know.
It’s so important to also make sure that your building relationships with many different people at your client – not just your main contact – because again if one person leaves the organization, you don’t want to be left in the lurch.
I was talking to a lawyer recently who shared with me a story I hear too often where the longtime in-house legal team changed when the general counsel left his role. My client was left odd man out when the new in-house counsel arrived and brought in his own favorite law firm.
This lawyer unfortunately hadn’t developed close relationships throughout the organization beyond the legal team and his main contact, so there was no one to advocate for him to stay on. He was phased out, and as a result he had a difficult 2021. But it didn’t need to be like that if he had planned ahead.
Although word-of-mouth referrals will always remain one of the most powerful means of attracting new clients, it is out of your control as to ‘when’ these referrals might happen.
This is exactly why I always say it’s so...
Read Full Story: https://www.natlawreview.com/article/11-ways-lawyers-can-broaden-their-client-base
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