Law Firm Success Can Your Firm Afford To Not Develop Your Next Generation Of Rainmakers

Developing the Next Generation of Rainmakers Law Firm Success: Can your firm afford to not develop your next generation of rainmakers? I want to tell you about two law firms that were started years ago by lawyers my age. The firms are about the same size. They both are doing very well. Yet, they are vastly different. One firm’s lawyers my age are building the next generation of rainmakers. The other firm’s lawyers my age have done nothing to develop the next generation. Eventually the lawyers my age will retire or leave for other reasons. One firm will survive and thrive, and the other will fold. Maybe each firm is happy with their future. Suppose you want to be like the first firm and want to develop your next generation? Where should you start? Recently I was asked to give a presentation on developing the next generation of rainmakers. I decided I would begin my presentation by describing how  rainmakers are different. I believe most rainmakers have a high degree of emotional intelligence (EI). If you want to learn more about EI for lawyers, here is a good presentation: Emotional Intelligence: A Necessary and Valuable Tool For Lawyers, Legal Departments and Firms. Looking at the components of emotional intelligence, I believe rainmakers have a strong ego drive. In part, they define themselves by the recognition they receive and by the sense of accomplishment they feel when hired by a new or existing client. Most rainmakers are empathetic, meaning they have great ability to understand the world from their client’s perspective. Rainmakers typically exhibit high ego strength/resilience, meaning they are able to bounce back from criticism/rejection or defeat in a trial. Rainmakers are more likely to be sociable, outgoing and extroverted. They are comfortable with people either individually or in groups. Rainmakers typically set high goals for themselves and have a plan to achieve them. These are all examples of high emotional intelligence. But, I think rainmakers exhibit other characteristics: So what do the characteristics of rainmakers tell us about creating the future rainmakers? I think it tells us several things:   I practiced law for 37 years developing a national construction law practice representing some of the top highway and transportation construction contractors in the US.