Preparing for Partnership: Insights from Industry Experts

Embarking on the journey to partnership in a law firm is a significant milestone, requiring not just exceptional legal expertise but also strategic business acumen and interpersonal skills. During a series of World Law Group (WLG) mentor sessions in June, seasoned lawyers April Holland of Miller & Martin PLLC, member firm for Georgia, USA, and Micky Yang of Gowling WLG, member firm for England, shared invaluable advice on navigating this complex path. Here are some key takeaways from the discussions.

April Holland highlighted the importance of developing and sustaining a personal book of business. As a corporate attorney focusing on private equity and fund formation, April emphasized that relationships are crucial. Engaging with clients and senior lawyers in the firm, understanding their needs, and offering valuable insights can set you apart. April noted, "When you transition to partnership, bringing in your own clients and the ability to develop new ones is a critical skill."

 

April emphasized that lawyers should make the case to potential clients as to why they should work with you. You can bill at a lower rate, reach out to partners for support if needed, demonstrate that you've worked on substantially similar matters in the past, and express your desire to grow with their company. 

Both speakers underscored the significance of leveraging professional networks. April found that engaging with the WLG network was instrumental in expanding her practice. Informal consultations and formal partnerships with WLG members helped her navigate complex international legal issues. "The ability to tap into the WLG network has been crucial in developing my practice," she stated.

 

Micky Yang, a corporate real estate partner, also emphasized the value of professional networks. Her diverse background and international experience highlights the importance of adaptability and utilizing platforms like WLG for better networking opportunities. Micky remarked, "Building a network of contacts and leveraging platforms like WLG can significantly impact your path to partnership."

April and Micky both stressed the importance of developing soft skills and managing work-life balance, especially for women in law. April shared her journey of working with a career coach to enhance her interpersonal skills, which proved vital in her transition to partnership. She also emphasized the necessity of time management and balancing professional and personal responsibilities.

 

Micky discussed the impact of motherhood on her career, candidly sharing her experiences with self-doubt and imposter syndrome. She found that investing in childcare and building a support network was crucial for maintaining her career trajectory. "Don't skimp on childcare; it's an investment in your career and mental health," Micky advised.

Both lawyers highlighted the importance of strategic business development and mentoring. April suggested joining non-legal industry associations. They are great opportunities to showcase your knowledge and analytical skills, build expertise, and develop contacts in that field. Participate in legal and other conferences to expand your professional circle and visibility. She also recommended publishing in niche areas and leveraging social media to showcase expertise.

April shared her experience with business development (BD) and recommended a disciplined approach, whereby she scheduled time in her calendar to dedicate to the process. April advised, "Even if you can dedicate 30-60 minutes a week to BD activities, it keeps you focused on growth." Utilizing resources such as career coaches and BD training programs can also be beneficial. She recommended "The Snowball Effect" by Mo Bunnell for practical strategies on business development.

Micky pointed out the value of mentoring schemes and training on the financial aspects of the firm. She emphasized that transitioning from an associate to a partner involves understanding and managing various business elements, such as billing, cost control, and team dynamics. Becoming a partner also requires one to focus more on client and business development and stay informed by gathering top-level information from associates working on the projects. 

Preparing for partnership requires a multifaceted approach, combining technical expertise, business development skills, and strong professional networks. April Holland and Micky Yang's insights provide a roadmap for aspiring partners, emphasizing the importance of client relationships, leveraging networks, developing soft skills, and maintaining a strategic approach to business development to achieve overall success.