90% of the companies he talks to, writes Jim Durham in The Importance of Understanding Your Client’s Business, tell him that they like working with lawyers who know their business. Not those who know the law better than their peers, not those who invite them to the most golf outings and cocktail receptions, not those who charge the least or work the hardest. Those who are in tune with the financial goals, strategic objectives, and day-to-day operations of the client:
One client told me that he would be willing to pay his lawyers to read his strategic plan, because it would make them more valuable to him. … A client in the retail business said she wanted to know that her lawyers have been to the company’s stores, and that they understand how they introduced new merchandise.
How well you know your client’s business? Durham’s post is a good place to start figuring that out. Read it, then talk to your client. You – and they – will be glad you did.
Recent Comments