Within a law firm, having the right business development resources at the right time can make all the difference. That’s where a Fractional Business Development Professional (“Fractional”) comes in. These seasoned experts can step in and provide the support you need, precisely when you need it most. Effective Fractionals provide fast ramp-ups with flexible conclusions. Here are scenarios where a Fractional can be invaluable:
Medical, Personal, or Family Leave of Absence
Life happens, and sometimes key BD team members need to take a leave of absence. During these times, a Fractional can seamlessly fill the gap, ensuring that initiatives continue without interruption. For example, when a senior BD manager had to schedule a planned medical leave, a Fractional was brought in to manage the practice group’s ongoing campaigns and enabled other team members to continue focusing on their areas. The Fractional’s comfort and experience allowed the practice group to execute its activities without missing a beat. The senior manager then returned without the stress of a backlog or neglected attorneys.
Senior Team Member Departure
When a senior BD team member departs, it creates a significant and worrisome void, and the immediate reaction is to fill it as it was, as quickly as possible. What if you were able to take the time to examine the situation and make it an opportunity to rethink the structure? A Fractional at the Chief or Director level can step in to maintain traction as well as provide firm leaders with an objective assessment and make recommendations. A resourceful Fractional can also help with the recruitment and onboarding processes for the new permanent hire. Delays are common when conducting a Chief or Director-level search. With a Fractional as the bridge, momentum is not lost, and the marketing and BD teams have leadership and direction. For instance, when a law firm’s CMBDO departed unexpectedly, the Managing Partner brought in a Fractional who quickly evaluated the situation, managed ongoing projects, and provided valuable insights into the hiring process. This ensured that the firm’s BD and marketing initiatives were on track, and that the team stayed focused and productive.
Specific Project, Initiative, or Acquisition
There are times when your firm needs additional support for a specific project, improvement program, or acquisition. Likely examples are:
- BD integration of an acquired firm or lateral team
- Client interviews and feedback
- Client experience capture and use
- Client, practice group, industry or partner plans
- Attorney coaching and training
- BD budgeting
- Legal rankings and awards
- Proposal and RFP efficiencies
- BD activity capture and reporting
- Marketing/BD technology audit and implementation
A Fractional as an “advisor-in-residence” provides the veteran resource and hands-on experience required to successfully execute on these initiatives. For example, a law firm was onboarding a boutique firm of twenty-five attorneys. They brought in a Fractional who developed a tailored integration plan to realize the pre-merger synergies. Collaborating with the BD and Marketing teams, the Fractional facilitated a swift ramp-up and promoted cross-introductions internally and externally with clients and prospects.
In Conclusion
Fractionals offer a flexible and effective solution for law firms who have a temporary talent gap in the key areas of business development, relationship building and new revenue generation. Their ability to seamlessly enter, adapt, deliver results, hand-off, and exit ensures that efforts remain uninterrupted and effective. By leveraging the expertise of a Fractional, leaders can maintain their competitive edge, keep momentum, and raise confidence.