Become a rainmaker for your practice

The term ‘rainmaker’ means different things to different people. In professional service firms it tends to be used to refer to a partner who brings in lots of fees. In some firms the rainmaker has no other repsonsibilities. This is increasingly unusual however.

In my role as the Accountants’ Business Coach I have often used the description ‘finder’ rather than ‘rainmaker’. I have distinguished 12 key business skills as falling under the headings of:

  • Finders – who go out and find the new work
  • Minders – who look after the relationship with the clients
  • Binders – who keep the team working well together
  • Grinders – who do the work [this requires technical skills rather than business skills as such]

The point being that to be a good ‘finder’ you need at least 4 of the 12 key business skills.

Finding

  • Networking – meeting new people and generating work through those you meet;
  • Speaking in public – being confident and clear whether talking to small or large gatherings;
  • Pitching – asking for work or responding to invitations to tender;
  • Closing – gaining new work on acceptable terms;

Of course there are plenty of good rainmakers who never have to make a formal presentation to large groups of people. With that exception any good rainmaker will be confident across all four of those key skills.

To complete a piece of research I have been undertaking recently I’m asking readers of this blog:

  • Is it important that someone in your practice is a good rainmaker?
  • Do you relate to that concept better than that of being a ‘finder’? and
  • Are there any other skills or talents that you feel a good rainmaker needs to possess?

Please post your comments below. If you would like to see how you fare against the full checklist of a dozen key business skills, please let me know and I’ll gladly send you a copy.

By |2018-07-12T07:58:19+00:00February 19th, 2008|Business messaging and branding, Career development, Key Business skills|

About the Author:

Mark Lee FCA is an accountancy focused futurist, influencer, speaker, mentor, author and debunker.

2 Comments

  1. Alan Kennedy 26th March 2008 at 12:52 pm - Reply

    Yes having good rainmakers is vital to the success of any firm. Without new clients you cannot sack the bad ones. Another skill I would add is the ability of the rainmaker to pass clients onto his colleagues who grind out the work. Without this skill the rainmaker ends up doing work without the time to win more work.

  2. […] they require. YOU need to be able to ‘CLOSE’ – which is part and parcel of being a good Finder (even if the leads have been generated by the […]

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