About 25 years ago, I had just taken over as head of the private client department at City law firm Simmons & Simmons.
The department was not particularly profitable, so I called a meeting of the heads of the firm's other departments.
They politely turned up, although it was obvious they were not convinced I would say anything of interest to them.
I set out my vision.
International entrepreneurs did not simply need tax and trusts advice. They needed many of the firm's services: corporate advice for their businesses, real estate, litigation when disputes arose, and my department for family governance and asset protection.
I also made it clear that private client was not going to be a loss leader.
At the end of the presentation, you could have heard a pin drop. The senior partner thanked me for presenting a new vision involving the rest of the firm.
The following day, however, I was summoned to his office.
He told me he was impressed, but that I should not expect a future at the firm unless, within two years, the department was producing City-level profits. Even if I succeeded, I should not expect to reach the higher levels of remuneration.
I had two young children. Working longer hours was neither attractive nor doable. I had to work smarter.
But nobody told me how.
There was no manual explaining how technically excellent professionals could win the clients and work they wanted to be profitable. I had to work it out for myself.
I survived the two years and began to climb towards the upper reaches of the firm's lockstep and bonus pool. But the question stayed with me: where was the manual?
Twenty-five years later, there was still no manual. Lots of consultants but no practical manual on what to do.
Visibility is not a strategy
One of the first things I learnt was that time is precious.
I stopped attending networking events unless I was speaking or had a particular reason for being there. I became equally selective about one-to-one meetings. If somebody was unlikely to advise the clients I wanted to work for, why were we meeting?
At the same time, I was writing about ten articles a year for the Weekend Financial Times on tax and trusts. The articles gave me considerable visibility.
Why then did the articles not give me a predictable stream of good-quality work.
That taught me an important lesson: visibility and business development are not the same thing.
If I did not know what work I wanted, which clients I wanted it from and who could help me reach them, greater visibility might simply produce more of the work I didn't particularly want.
I began to recognise a version of the Pareto principle. A relatively small proportion of clients and matters generated a disproportionately large share of profits.
So rather than simply looking for more work, I wanted more of the better quality work.
First I needed to decide what work did I want? From which clients? And, crucially, who was already working with those clients?
Then came another realisation.
It isn't just who you know
Think about an entrepreneur selling a business.
During the transaction they may need a lawyer and an accountant. Afterwards they may need a wealth manager, financial planner or specialist tax advice.
How do they find them?
They are unlikely to start with a blank sheet of paper. They ask someone they are already working with: “Who do you know?”
So perhaps the old expression is right: it's not what you know, but who you know.
Except that, from my experience, that isn't quite right either.
I have sat in countless meetings where professionals identified who knew whom and drew up schedules of meetings. It was strategic, but the results were often disappointing.
Why?
Knowing the right people is not enough. You may have numerous colleagues but how often do you refer work to them? I discovered that people did not just need to know who I was but what I did for my clients.
And herein lies the really big problem.
Why in a crowded room would the audience happily listen to me explaining Family Governance - the succession of decision making, and yet resisted the same message at a one on one meeting? I looked into the psychology around 'influence'. Herein I discovered some fascinating insights.
When talking to a crowded room the audience feel they are being educated if relevant to what they are doing. However if I presented the same message on a one on one, I met with resistance - why because it felt like selling? Selling creates resistance education creates receptiveness
But talking at events I found was a bit like shooting a shotgun in a blizzard - little control over what you are shooting at or what you might kill.
I wanted to find a way which was more under my control and produced measureable results.
I noticed that when you work with another professional to resolve a concern of a client something changes. You are not selling your services You are showing how you can work together to resolve a concern of a client And its memorable. So when another relevant client problem arises your are more likely to refer the perosn you have worked with to your client.
What I observed was backed up by my research.
I then combined this research with my experience and distilled into a practical guide and methodology that has become Client Centric
In summary ClientCentric is: the guide, mentor and practical manual I wanted when I became head of a city department 25 years ago. It is the methodology used by the members of Caroline’s Club to win more of the work from the clients they want to work for
The methodology can be summarised by the equation:
Growth = visibility + strategy + effective implementation and is delivered in three phases
Phase One: Visibility puts you on the radar.
Phase Two: Strategy puts you on the radar of the right people.
Phase Three: Effective implementation turns those connections into profitable relationships.
The methodology can be used to break down silos within a firm, build trusted relationships ourside the firm and repeat business from clients.
Twenty-five years later, perhaps I have finally found the guide, mentor and methodology I was looking for - but I had to write it myself!