Bloomberg Law Publishes Part One of Heather McCullough's Series on 'Business Development Plans'

On October 20th, Heather McCullough's latest article, "Why Business Development Plans Fail Even When You Make the Time," was published by Bloomberg Law. In part one of this incisive series, Heather provides valuable insights with contributions from Kathryn Stokes McConnell (Littler) and Alexander Davis (Mayer Brown). The article discusses the common pitfalls attorneys face when crafting business development plans. Stay tuned for part two, where she'll reveal how to create a dynamic and successful BD plan that leads you toward your goals.

Below is an excerpt of the article. Click here to visit Bloomberg Law and read the article in its entirety.

Society 54’s Heather McCullough says that attorneys often set unattainable goals or ignore the resources available in their firm when making business development plans.

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In the world of professional services, the key to a thriving practice lies in effective business development (BD). It’s all about uncovering opportunities, forging valuable relationships, and driving growth both in established and untapped markets.

Thoughtful BD strategies play a pivotal role in the advancement of any attorney or legal practice, yet developing effective plans to achieve vision and objectives can often be a daunting task. By leveraging thoughtful insight and targeted approaches, even the most overwhelmed and hesitant attorneys can turn their goals into successful realities.

I recently asked two of my clients, Alexander “Alex” Davis of Mayer Brown and Kathryn “Katy” McConnell of Littler Mendelson, to share any mistakes that they have made when setting out to create their BD plans. They shared several examples, but the most glaring misstep was overestimating the time they could commit to nonbillable efforts. This is where professionals can become discouraged and give up on a goal long before it has a chance to gain momentum.

So how do you build an actionable and successful BD plan? Let’s explore this from two angles. In this article, we’re exploring the most frequent causes of failed plans. In the next article, we’ll focus on how to craft a dynamic BD plan that puts you on the path to success.

Read more here.