What are you doing to stay on top of your clients’ businesses and industries and help them identify a problem and create a solution before they know of the problem?
Here are some important thoughts on how the internet makes it ever so much easier than it was when I was a young lawyer:
- It far easier to research and find what is going on in your clients’ industry and business.
- You can more timely write and publish blog posts than I could write and publish articles.
- Today’s technology takes a lot of the luck out of your potential clients finding what you have written or a presentation you have made.
What should you do after you identify a problem or opportunity? One thing to consider is to create an ebook or guide.
For example, when the US Department of Transportation sought permission from Congress to experiment with innovative contracting techniques, including design-build, I put together detailed guides and began doing workshops.
Over time I was asked to help states draft legislation and contracts, and more often I was asked to help contractors put together proposals, identify risks and negotiate contracts with designers and the state DOTs.
One book I recommend to lawyers is The Best Damn Sales Book Ever. In the book, author Warren Greshes tells an amazing story how Peter Rosengaard, a life insurance agent, sold a life insurance policy with a death benefit of $100 million on the life of entertainment entrepreneur David Geffen. At the time that was the largest life insurance policy ever sold.
When Peter Rosengarrd discovered that MCA, the large entertainment company, had just purchased Geffen Records for $600 million, he realized that David Geffen was the single, indispensable, driving force behind Geffen Record Company and that if anything ever happened to David Geffen MCA’s $600 million purchase would be worth very little. Rosengaard identified a problem and offered a solution before the CEO thought of the problem.
If you want to learn more about Rosengaard, read: The adviser who sold the biggest life policy (and insured a Mafia hitman)
What problem may impact your clients and potential clients and how can you help them deal with it?