October 19, 2023

Partner Track Insights with Laura Terrell

21 minutes

In this episode, Alay and Laura discuss:

Why understanding the business of law is critical to your law firm’s success.

Making yourself marketable as an attorney.

Reframing selling as relationship building.

Key Takeaways:

More attorneys need to get comfortable with asking questions around money and making money in a meaningful way.

Ask the questions you have – if you don’t ask, you won’t know the answers, and your career may stagnate, both in a solo firm or in big law.

Developments in the world, in the economy, and other cultural changes can affect your client – you will want to be willing to be flexible and see other opportunities on the horizon.

Business development is not one size fits all – you want to do what feels good to you and to your clients.

Tweetable Moments:

“Understanding the business of law is as critical to your success and law firm as being a good, savvy, talented practicing lawyer.” — Laura Terrell

“When you go to a law firm, what is the first thing law firms tell you? Just do good work, learn the business, learn the law, and the area of law of the practice that you’re in, and do good work. And you should be doing that, but it’s not enough.” — Laura Terrell

“Selling is not what you’re doing – you’re trying to build relationships of trust, you’re asking people to put their faith in you, as their attorney, to come up with ideas, solutions, possibilities, that are ones that they can really come to understand and see you as a resource for. That’s not a sale, that’s a relationship. ” — Laura Terrell

“You don’t have to do your business development the way somebody else does it, you need to do it in a way that works for you and that creates an opportunity for you to connect with your clients.” — Laura Terrell

About Laura Terrell:

Laura Terrell is an executive coach with over twenty-five years of experience as a legal and business leader.

She offers an insider’s perspective for business, legal, and corporate professionals, working to help her clients improve and achieve success in their work lives.

Prior to coaching, she was a Special Assistant to the President at the White House, a senior-level appointee at the U.S. Department of Justice, an equity partner in two large, global law firms, and in-house counsel at a publicly traded company.

Laura has also led and managed teams of people across multiple countries, serving as a top advisor to many Fortune 500 and FTSE 100 companies.

Partnering with her clients, she enjoys helping them reach their goals and build confidence in their careers. Learn more about Laura and follow her blog at www.lauraterrell.com.

Connect with Laura Terrell:

Website: https://www.lauraterrell.com/

LinkedIn: https://www.linkedin.com/in/lauralterrell

Instagram: https://www.instagram.com/lauraterrellcoaching/

Connect with Alay Yajnik:

Podcast: http://lawyerbusinessadvantage.com/

One Page Strategic Plan: LawFirmSuccessGroup.com

Email: [email protected]

LinkedIn: linkedin.com/in/alayyajnik

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By Alay Yajnik and Chelsea Pagan

2020 ratings