Legal Marketing & PR

Unlock the Power of Social Arbitrage

By Larry Bodine, Esq.

Following is a guest post from lawyer coach Martha Newman.

What goes into the complex formula we call SUCCESS?

Success involves leveraging the strong relationships you have built through your networking to OTHER people's advantage.

Strive to make everyone around you successful - and you'll find success yourself.

This is the notion of SOCIAL ARBITRAGE: a constant and open exchange of favors and intelligence.

How does it work?

It's simple really. When someone mentions a problem, try to think of a solution. Become a KNOWLEDGE BROKER, indispensably doling out as much information, contacts, and goodwill to as many people as possible.

The first rule of thumb: Don't wait to be asked. Just do it.

If a colleague needs help on a complicated business litigation case, think about all of your contacts in the field. Surely, one of them has tried a similar case. Give them a call and match them up. Your colleagues, in turn, will make their own connection and appreciate the work you did to bring them together.

The second rule of thumb: Make knowledge brokering a habit.

Take the time to identify some leading thinkers and writers in the legal field. Read their books and newspaper articles, and make mental notes. As a knowledge broker, you should be prepared to pass along this information whenever you hear a "problem".  Remember, as a practitioner of social arbitrage, you'll always need a solution.

Knowledge brokering takes time and a certain amount of thoughtfulness.  That's exactly why it is appreciated.

Powerful attorneys are interested in other people's successes.

Make that your mantra and start building UP your relationships today.

Martha M. Newman is a lawyer coach, CLE presenter for the State Bar of Texas and Vice President of the Women Lawyers Section in her bar association. She is the founder of Gain Your Goals, Inc. and publisher of Top Lawyer Coach, a website that focuses on building lawyer's rainmaking, practice management, and leadership skills.  She has kindly agreed to share with us some of her thoughts regarding branding.

Full post as published by Larry Bodine's LawMarketing Blog on November 19, 2009 (boomark / email).