The Science of Rainmaking: Practical Tools for Diverse Attorneys - PDF document

The Science of Rainmaking: Practical Tools for Diverse Attorneys April 29, 2010 By James Potter Tina Paikeday Del Monte Corporation Talent Advisory Board Inc. The California Minority Counsel Program CMCP’s Thought Leadership Committee (CMCP) is the founder of a business development commissioned a research study entitled The program known as Corporate Connections. The Science of Rainmaking: Practical Tools for main benefits of the program for law firm Diverse Attorneys to evaluate the opportunities attorneys include increased opportunity for created by Corporate Connections and to provide networking with hiring law departments, the diverse attorneys with business development possibility of tangible new business matters, and insights. the opportunity to learn about the science of rainmaking from successful program participants. CMCP’s Thought Leadership Committee CMCP Thought Leadership Committee commissioned a research study which quantitatively measured the impact the program James Potter, Del Monte Corporation (Chair) has had in increasing business development Adonica-Jo R. Wada, Simon Gluck & Kane LLP opportunities for minority attorneys. The year- Douglas J. Farmer, Ogletree Deakins, P.C. long study was conducted by an independent third Garner K. Weng, Hanson Bridgett LLP party Talent Advisory Board Inc. on a pro bono Nicholas T. Hua, Law Offices of Nicholas T. Hua basis, and this report was generously underwritten Quyen Ta, Keker & Van Nest LLP by Del Monte Corporation. Raul F. Salinas, Adorno & Yoss LLP S. Raye Mitchell, The Mitchell Law Group, PC Business Development Matters Robert Edesess, Morgan, Lewis & Bockius LLP The ability to generate business, while always Robin M. Pearson, Miller Starr Regalia important to the survival and prosperity of diverse Rocio V. Fierro, Oakland City Attorney's Office law firm attorneys, is especially critical in today’s Salina R. Canoy, Winston & Strawn LLP economy. Diverse attorneys have not historically Tammy Albarrán, Covington & Burling LLP had equal access to business development Victor A. Vilaplana, Foley & Lardner LLP relationships or to opportunities to develop these Wendy L. Feng, Covington & Burling LLP relationships. Diverse attorneys may thus suffer disproportionately in an economic downturn. Consequently, programs that provide enhanced Research Overview: The research study consisted opportunities for diverse attorneys to interact with of two components: (1) a quantitative survey of their in-house counterparts should be of interest Corporate Connections participants designed to to and supported by organizations and individuals measure the program’s success in facilitating that champion the success of diversity in the business relationships and (2) qualitative profession. interviews with a sampling of program participants aimed at identifying the successful techniques used Corporate Connections : The program occurs to secure business relationships from the program. during CMCP’s annual fall business conference Overall, the research study yielded several findings and matches in-house counsel with diverse key to understanding the effectiveness of the outside counsel for purposes of business Corporate Connections program and business development. Through the pairing of in-house development in general. First, diverse attorneys and outside counsel in a “speed dating” format, who continue to struggle against the unequal access this program serves to support and promote to business development opportunities are diverse attorneys by providing impressive access generating real business relationships through to opportunities. Corporate Connections . 1

30% of Corporate Connections What is your primary expectation of Corporate participants have received direct Connections? business and 13% have received referral business through the program. With which CMCP member constituency do you identify? Second, upon evaluating the attorneys who Total achieved successful results from the program, Minority- Majority- some common success factors emerged. Finally, Owned Law Owned Law Firm Firm interviews with successful rainmakers revealed that although rainmaking is an art, there is some science to the process of business development, 70 24 46 the knowledge of which can improve the success 34 16 18 Generate rate of all attorneys. business 48.60% 66.70% 39.10% 3 2 1 Survey Results Generate The quantitative survey component of the referrals 4.30% 8.30% 2.20% research study confirmed that diverse attorneys 33 6 27 Build are, in fact, finding business development networks 47.10% 25.00% 58.70% opportunities through Corporate Connections. The fact that Corporate Connections participants have continued to remain involved in the program over the course of multiple years is evidence of This difference in expectations is predictably the program’s ability to deliver opportunities and reflected in differences in program satisfaction results. ratings. Overall satisfaction with Corporate Connections is relatively high. 62% of respondents The nature of these opportunities tends to vary by rated the program as above average. However, the firm type. Over the last decade, law firm program received a higher rating from majority- participation in Corporate Connections has owned law firm respondents who essentially shifted from its initial dominance by minority- expected networking opportunities than it did from owned law firms to the current constituency minority-owned law firm respondents who representing a broad mix of diverse attorneys expected to receive business in the meeting (70% from both minority-owned law firms and vs. 46% rating the program above average). majority-owned law firms. Those majority-owned law firm participants who Survey Results by Firm Type: Among the are satisfied with the program assert that it is an participating attorneys that responded to the effective vehicle for developing relationships with survey, 65% were attorneys from majority-owned potential clients who will be more likely to hire law firms, while 35% were attorneys from their firms through the usual channels for hiring minority-owned law firms. Expectations for the majority-owned firms. Corporate Connections program tend to align by law firm type. While allows them to establish personal connections with minority-owned law firm respondents generally in-house counsel who they may otherwise not have sought direct and immediate business from the the opportunity to meet. program, majority-owned law firm respondents predominantly hoped to develop contacts which Program sponsors are thus well advised to align could lead to future business. According to the participant expectations with the likely outcomes survey, about 67% of minority-owned law firm of the program. For their part, participants might respondents expected Corporate Connections consider setting their expectations to better participation to “Generate Business,” while about coincide with what programs such as these are best 60% of majority-owned law firm respondents able to deliver. expected Corporate Connections participation to “Build Networks.” 2