Let’s face it. We have a stressful profession, and many times our relationships with our colleagues or co-workers only add to that stress. A solo or small firm practice is inviting to those who are tired of the intense race to the top. But, at a small firm, the pressure is on to get clients and make enough money to pay yourself, your staff, and firm overhead expenses.
Creating a strong referral network will allow your firm to gain a steady flow of new clients with minimal effort. When creating my referral team, I think first of what professionals are most likely to be in a position to refer clients to me on a daily basis. I’m an estate planning and probate attorney, so for me, that would be financial advisors, accountants, title agents, and divorce attorneys. Then, I consider those professionals to whom I can give referrals. Who are the people my clients will need to help them? Maybe that’s a banker to set up an estate account, a realtor who can sell anything, an international tax specialist, a business consultant, or a financial advisor to help create a financial plan that complements the estate plan I have created.
In addition to those professionals, solo attorneys especially must build relationships with other solo attorneys in the same practice area. I know this seems like a conflict—why should I seek out my competition? I’ll tell you from 16 years of experience as a solo and small firm practitioner that my best referrals come from other estate planning attorneys. And not just estate planners across the country but those less than a mile from my office. Why is that? We all have our own niches, whether it’s language, culture, or professional background, and there are some things that I do very well and others that I don’t want to do at all. I am a first-generation Cuban American who speaks Spanish fluently, was a foreign filing specialist prior to law school, and earned a concentration in international business law. So, those clients who need a business succession plan, have international estate planning questions, or prefer to speak Spanish are a perfect referral for me.
And I can’t undervalue the importance of giving back to my referral partners. Find out what their expertise or specialty is. Mentor the junior attorney who needs a helping hand. I recently took on a mentee, and my friend asked, “Why are you helping someone who is going to compete with you?” Well, I don’t see her as competition. She is a colleague, and there’s plenty of work to go around for both of us. Moreover, mentoring this one attorney put me in a position to finally start another business that I had been thinking about starting for years—a paralegal drafting services company. She can’t afford support staff and can’t work ridiculous hours because she has a family. She wants a “lifestyle law firm.” Because I already have trained staff and systems in place to efficiently handle the drafting work, I created a side company that only provides drafting services to other estate planning attorneys. One day, when I leave the practice of law, this may be my only company, or maybe I’ll sell it. But if I hadn’t taken the time to mentor this other attorney, I would never have taken the plunge. Givers gain more, and my fellow attorneys are my colleagues, not my competitors.
