No international firm can have offices in every promising international jurisdiction-unless you’re Baker & McKenzie, of course.
And so, many international law firms join networks like the International Lawyers Network and Lex Mundi to boost their ties abroad. Each of the nine or so established international lawyer networks vets its members before letting one join. Each also charges a membership fee. In return, the law fims build relationships with each other– and hopefully receive lucrative referrals as a result.
Increasingly, networks are offering educational components, like webinars, and even secundment options. A recent article titled A Crowded Marketplace in the ABA International Daily News discusses the advantages of such international lawyer networks.
While in London earlier this month, we discussed the merits of these networks during the panel discussion I led on Cross-Cultural Client Development at the recent ABA Section of International Law conference. Some lawyers-particularly those from regional law firms–felt that international lawyer networks had really benefited them by meaningfully connecting them to firms throughout the world. However, others (such as some in house international lawyers) expressed concern about relying on such networks; these attorneys preferred to hire the best attorney in each location regardless of the network connection.
The consensus favored (i) joining networks to increase referrals and build relationships but (ii) not to feel obligated to work with a particular network member, and only to work with the ones best suited for the matter at hand.
Meet me in London next week when I lead a panel discussion during the fall conference of the International Law Section of the American Bar Association about Cross-Cultural Client Development. The session takes place on Thursday, October 4 from 10:45-12:15, and my fellow panel members will include, Derek Jones of Baker Botts (London office), Professor Susan Segal-Horn and Jose Antonio Munoz of Arias & Munoz.
Later that day I will also be presenting a mini-training session on Global Rainmaking with international trainer Megan Walters of Isongo.
I hope to see you then!
As reported in today’s Lawyer.com, Baker & McKenzie is celebrating record profits–with per equity partner income rising 22% over the last year. John Conroy, head of the firm’s executive committee, is quoted as crediting five factors for this financial success, including “deepening major client relationships.”
As a truly global firm, Baker & McKenzie noted growth in a variety of markets, primarily those in Europe and the Middle East, followed by those in North America and Latin America, and then by those in the Asia Pacific. And so, deepening existing client relationships at this firm necessarily includes a fair amount of cross selling–enticing clients to use the firm in additional geographic markets and practice areas.
For this kind of cross selling to work well, multiple lawyers (not just the client’s primary contact) need good cross cultural skills. A rainmaker with a prized client will be willing to cross sell the services of his firm colleagues if the colleagues are talented lawyers AND if they won’t offend or chase away the client.
So, if you want more internal referrals, cultivate good relations with your colleagues, too. If you find yourself at a global firm like Baker & McKenzie, you will need to cross cultural acumen not only when dealing with potential and existing clients, but also when developing relationships with your colleagues from around the world.
For tips on how to be successful as a partner, read my latest article in the July/August 2007 issue of the ABA’s Law Practice Magazine titled It’s Only Just Begun: Strategies for Staying Successful as a New Partner. Despite the title, both new and experienced partners can benefit from these tips.
As I wrote in my article Seven Steps for Maintaining Motivation, many lawyers struggle to stay motivated. However, finding motivating tools or props can help to propel a lawyer forward.
In his new blog Thoughtful Legal Management, David Bilinsky, discusses how preparing a law practice budget can also be motivating. A budget not only gives a lawyer a clear idea of his/her income and expenses, but also helps a lawyer to visualize the future.
As David explains in his July 17 post, “the process of drafting your business plan and putting numbers into your budget spreadsheet takes you into a visioning mindset - where you contemplate your future and your place in it. You take charge of the future that you wish to have.” Several of my clients have used the budgeting process and accompanying visualization to spur them on; for example, one client was motivated to revitalize his firm’s website, and another to launch a global client development strategy.
Lawyers trying to grow international practices particularly benefit from budgeting. Whether you are a big firm lawyer or a solo, a government lawyer or an in-house attorney, international business travel and related expenses really impact your practice’s bottom line. Budget for the sum that you expect to incur, and be prepared to defend the necessity of this expenditure to your boss–even if you are a solo and the boss is You. Then envision yourself growing your international practice to–and perhaps beyond–what you have already envisioned.
Check David’s new blog regularly for more ideas. I had the pleasure of meeting him last fall in Vancouver (my birthplace) at an ABA Law Practice Management conference, and subsequently writing a few articles for the ABA’s Law Practice magazine, which he edits.
