Throughout my career as a lawyer and consultant, the best new business opportunities have often emerged from unexpected moments and places.
For instance, shortly after launching a small law firm, I reluctantly attended a local fundraiser, feeling I should focus on work instead. At the event, I met an estate planning lawyer who introduced me to my largest client of the year. Another time, while at a conference, I spontaneously decided to pay for the drinks of 10 people in line at a hotel Starbucks. This led to a significant coaching and training engagement.
Call it luck, serendipity, or randomness—business development often defies strategic planning. New opportunities frequently arise when you’re in the right place, at the right time, with the right people. But how do you combat the unpredictable nature of demand in the legal field?
Overcoming the Unpredictability of Legal Demand
Legal opportunities are inherently unpredictable. Cases and clients’ needs often surface unexpectedly. For example, you can’t foresee when a company might face a lawsuit or when a dissatisfied client might consider switching legal counsel. Even in areas with recurring needs, such as estate planning or securities law, timing is uncertain.
To navigate this uncertainty, you can employ two key strategies:
- Nurture Key Relationships
Maintain visibility and connections with your network through consistent, one-on-one outreach. A simple call or email might reveal an unaddressed legal issue and result in new business. While critical, this approach has limits—it doesn’t scale and only scratches the surface of broader opportunities. - Be Open to New Opportunities
Engage with new people, environments, and experiences. This expands your network and exposes you to potential business leads in unexpected places.
The Power of “Weak Ties”
Sociologist Mark Granovetter’s concept of “weak ties” underscores the value of acquaintances over close friends in introducing new opportunities. These weak ties connect us to networks and information outside our daily circles.
For example, a lawyer I coached struck up a conversation with a stranger at a concert, leading to a referral partnership despite their different legal specializations. If you stick to conventional marketing and networking, you may miss such unexpected opportunities.
Four Strategies for Creating Serendipity
- Allocate “20% Time”
Dedicate a portion of your time to unstructured, curiosity-driven activities. Attend a community event, explore a new hobby, or engage in activities outside your usual routine. - Plant “Serendipity Bombs”
Initiate meaningful conversations with strangers or acquaintances. Ask open-ended questions and express genuine interest, creating opportunities for unexpected connections. - Leverage Digital Platforms
Share valuable content and engage with others online, particularly on platforms like LinkedIn. Interacting with diverse content can lead to surprising opportunities. - Excel at Your Craft
By becoming exceptional at what you do, you attract opportunities organically. As the saying goes, “Luck is when preparation meets opportunity.”
Embracing the Unexpected
If you’re dissatisfied with your business development efforts, try something different. Step outside your comfort zone and embrace new experiences. Take action and focus on building relationships without a hard-sell approach.
As Arnold Palmer wisely noted, “The more I practice, the luckier I get.” By fostering serendipity, you’ll build new connections, gain fresh perspectives, and uncover opportunities you never anticipated.
