The Gold Ring: a Portable Book of Business

Let’s cut to the chase

There are only four words that matter in law firm practice today.

Portable.

Book.

Of.

Business.

Portable means you can walk out your law firm's door. Book means your client list. Of is the preposition connecting you to ownership. Business is the amount of money your own clients generate for your law firm every year.

Portable. Book. of. Business

I am the Ghost of Christmas Future

When networking I tell young women associates that I am the Ghost of Christmas Future.

"Ghost of the Future!" Scrooge exclaimed, "I fear you more than any spectre I have seen. But as I know your purpose is to do me good, and as I hope to live to be another man from what I was, I am prepared to bear you company, and do it with a thankful heart. Will you not speak to me?" It gave him no reply. The hand was pointed straight before them.

After twenty-five years of legal practice, my law firm was in disarray and would soon be swallowed by another. I was making damn good money. And I had not developed a lick of business. I had no clients of my own. None. Zero. Zip. Nada. I didn't think I had it in me. All that back-slapping and favor trading and Bar Association Committee work. I just wanted to do my job so well that I would become indispensable.

Let me tell you something. None of us are indispensable unless we have . . . .what?

A portable book of business.

How Do I Get Me One?

Network, network, network, network.

When I commenced my mediation practice (before co-founding She Negotiates) I began living in a completely different world. A world in which I wasn't automatically supplied with a mail room, an IT department, clerical help, paralegals, a great salary, bonuses, an expense account, medical and life insurance, a desk, a receptionist and all the office supplies I could eat.

And I was so ungrateful for all of that. Accepted it as my due. Plus a great salary.

Silly girl. I worked hard. But I didn't work smart.

You build business one contact, one step, one networking event, one Bar Association Committee, one friend in a corporate law department at a time. You do favors for them. You like that. You're naturally generous. You love being of service. You don't have to learn how to play golf and take the Chairman of the Board to Pebble Beach. You can make phone calls, see how things are going, connect one friend to another, circulate someone's resume when they're out of work and you're not.

If It Doesn’t Exist, Make it Up

A few years ago, after leaving legal practice and the soft cocoon of law firm life, I started a Professional Women's Network. I just made it up. Pulled it out of a hat. Started it on meetup; moved it to LinkedIn; and migrated it to a great platform called ning that no longer exists.

I met great women there - many of them non-lawyers who would eventually refer business to me. They did that because they knew my name, my trade and my reputation for leadership in this cardboard, toothpicks and duct-tape structure of a networking group. It doesn't have to be grand. It only has to exist.

Then there’s committee work. Let me tell you. If you show up, you WILL become an officer in one of these bar associations. And if you've done committee work with lawyers or business people (find where your market gathers and that’s not just lawyers, it’s business people) and be of service. Exchange emails and opportunities, stay in touch, be a friend and supporter, a sponsor, a mentor, a colleague.

They'll think of you. They'll send you business. And the next thing you know, You'll have a

PORTABLE.

BOOK.

OF.

BUSINESS.

Be the Boss of You

When you have your own business, you don't need no stinkin' badges. You don't need diversity and inclusivity programs. You don't need class action lawsuits or laws ensuring women get their fair share.

Do I have proof of that? Yes! The only wage gap for women entrepreneurs is the wage gap that favors them over their male peers.

Sound good?

Try it. And let me know how it goes.