Why Sales Why Now Guest Blogger, John Thomas

Developing the Next Generation of Rainmakers Why Sales? Why Now? Guest Blogger, John Thomas Recently I had breakfast with John Thomas a business development director here in Dallas.   John has more than 20 years of business development experience, including at an AmLaw 100 firm and a global accounting firm. I frequently say I learn from other businesses. In the post today, John shares why law firms could find using sales-trained BD professionals beneficial. John writes: Priscilla Partner finally gets a meeting with the F500 Company General Counsel. They discuss industry issues, the company’s issues, and her experience.   The General Counsel seems impressed but says he selected new counsel six months earlier after issuing an RFP to five firms.   He apologizes for forgetting to include Priscilla’s firm. How could this happen?   Priscilla’s AmLaw 100 firm retains a brand-name legal marketing consultant and employs a highly-compensated CMO overseeing a large BD/Marketing team.   Multiple practice groups are Chambers banded. The firm has an award-winning website, spends hundreds of thousands on events, and has social media covered.   That General Counsel and many others have tuned it all out. Given the continued weak economy, an ultra competitive legal environment, and the diminishing return on marketing tools, law firms need sales-oriented BD professionals to break through the clutter.   Yet, most law firm CMOs and BD professionals lack sales experience. Not so in global and regional accounting firms.   They have had sales professionals for more than 20 years, which is ironic since their industry has fewer competitors.   A billion dollar public company chooses an accounting firm from only six mega accounting firms, but chooses a law firm from the AmLaw 100 or 200 law firms.   Accounting firms know referrals and marketing only go so far. One international law firm understands this.   They’re now searching for a BD Executive to “develop and manage a proactive and organized sales process and pipeline.”   Had Pricilla’s firm employed a sales professional a year ago, she might have a new billion dollar client today. Hiring even one sales person comes with risks, especially for the sales person.   Therefore, only hire an outward-facing BD Director if you need someone to do the following: 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.