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Texas Lawyers & Business Development Funding Strategies
As seen in Texas Lawyer.
New partners in Texas consider a book of business vitally important for career success, but firms aren’t necessarily giving them resources to bring in new clients.
According to 19 new partners in Texas who responded to ALM’s recent 2017 New Partners Survey, 57.9 percent said developing their own clients is very important to their career, and another 36.8 percent consider it somewhat important. But nearly half of the new Texas partners—47.4 percent—said their firm does not give them a budget for professional or business development.
Strasburger & Price does not budget money for business development on a per-partner basis. “We budget by industry, by practice unit, by client team, and the needs, the requests of individual lawyers,” said Mark Golman, a partner in Dallas who is the firm development and lateral hiring partner.
He said the goal is building long-term relationships with clients.
“We are not saying young partners get $5,000, go spend it. We want to be a little more strategic than that,” Golman said.
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