Want To Increase Firm Revenue Develop Your Next Generation Of Rainmakers

Developing the Next Generation of Rainmakers Want to Increase Firm Revenue? Develop Your Next Generation of Rainmakers I recently posted: Top 10 Ways to Really Increase Profits Per Partner.I want to expand on what I suggested. Every law firm wants to increase revenue and profitability. Many do so by raising rates and increasing the hours billed expectations. That, at best, has limited value and it presupposes that clients are willing to pay higher rates and provide more work without the firm adding any value. Expanding business with existing clients and bringing in new clients has a far more significant and lasting value. Which lawyers in your firm are best positioned to do this? In most surveys, the vast majority of business clients report: Most senior partners are well-known by their clients and their target market. Clients have either decided to hire them or have hired senior partners in other law firms. As a result, their revenue from business generation has flattened out. As important, those senior partners are reaching retirement age. Your firm’s real chance for a dramatic increase is to build your next generation of rainmakers by teaching younger lawyers how to build their profile and reputation, and how to build trust and rapport with clients and potential clients. If your firm teaches your younger lawyers how to build relationships with clients and provide extraordinary service, you are more likely to retain and expand relationships with existing clients. If you want my ideas on how to do it, take a look at my article  Building The Next Generation of Rainmakers  in The Practical Lawyer. I practiced law for 37 years developing a national construction law practice representing some of the top highway and transportation construction contractors in the US.