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Bar Bulletin: Young lawyers, it’s never too early to start building your future

Blog Post

Regardless of whether you are just out of law school or an attorney who has been practicing for five years, you can start taking steps toward building your future as a well-rounded lawyer.

I am sure you have heard there are three hats many successful lawyers wear: technician, manager and entrepreneur.

During our first several years of practice, we need to strive to become good technicians. If we do not develop this skill, then we cannot effectively assist clients and will fall short of the basic requirement of being competent in our trade.

The other two roles are a little more amorphous, but, like becoming a good technician, can be learned by observing a mentor and good hands-on training. Here are a few suggestions on how you can start working on the entrepreneurial role.

Invest in yourself

This is not intended to be a selfish statement because as you invest in yourself, you ultimately help your firm, company or your partners.

Some people see CLEs as dreaded requirements. However, you can use them to add to your skill set as a lawyer. I know it is obvious, but people respect lawyers who are knowledgeable and can assist them with problem solving.

Rather than be reactive by learning only from the work you are given, use CLEs (required and additional) and pro bono opportunities to learn more about how you can help potential clients solve their problems.

Going one step further, you could take time to learn a new practice area.

Take advantage of your ‘free’ time

Easier said than done, right? While we are all busy with family, work and trying to squeeze in some time for fun, there is at least one time of each workday you can use to work on your business development: lunch time.

We all have to eat and we should try to get out of the office in the middle of the day when we can. Try to set a goal of having lunch with at least one new person each week.

It can be another young lawyer, financial adviser, accountant, banker, business owner or just another person you respect.

Additionally, continue to make time for your hobbies. Whether it is golf (that’s mine), art, bike riding or volunteering for charity, go do it.

However, when you do it, make sure to interact with those around you. You never know who you are going to meet.

Some of the people you meet may be your contemporaries in their respective industries. You will grow in your professions together and when they become decision makers, they may call on you for help.

However, do not be intimidated to interact with people who are more senior than you. Common interests, such as hobbies, can be your equalizer or “foot in the door.”

Build relationships for the long term

When you meet those people at lunch, happy hour or during your favorite activity, keep the long term in mind.

As you know, trust is built over time. Build genuine relationships with others and do not think about those people as clients; think about them as friends.

People will learn about your abilities and qualities over time. When the time comes that they need a lawyer, they will call their friend who happens to be a lawyer.

Build your own business development plan

Your plan must be unique. While it is always a good idea to observe others and emulate their good characteristics, you should focus on what works best for you.

Time is precious and you should spend your time doing something you love, especially if it is “free” time.

Therefore, do not try to make other people’s plans your own simply because they seem to be successful.

Be yourself and let your own strengths be the basis of your success.

Find a mentor who is invested in your success

We all need mentors, especially while trying to build our own business. Try to find a mentor or multiple mentors who are willing to invest in your success.

You want a mentor who wants to help you tap your potential as an entrepreneur. This approach will not only add to your success, but also to your mentor’s success.

Hopefully, your mentor will share with you his or her best relationship-building or managing habits, attend a lunch to help bring in a potential client or introduce you to his or her centers of influence to help expand relationships for your practice together.

If you take these steps, are you going to all of a sudden become the Pied Piper of clients? No, but you will have at least improved your own personal stock as a lawyer. Further, you may discover some talents inside of you that you did not even know you had.

While you go through this process you will undoubtedly learn a great deal about others, but you just might learn more about yourself because building your future is a journey.

I am still at the beginning of mine, but I am really looking forward to what is to come and you should look forward to yours.

If you ever want to chat about developing your own business development plan, feel free to email me and I would be happy to help you however I can.

Posted October 19, 2015 in the Jacksonville Financial News & Daily Record. Written by Alessandro A. Apolito, JBA Young Lawyers Section board member.


Explosive Growth in Pot of Gold Opportunity for Bank (and Other) Cannabis Lenders Driving Erosion of the Barriers

Our original article on bank lending to the cannabis industry anticipated that the convergence of interest between banks and the cannabis industry would draw more and larger banks to the industry. Banks were awash in liquidity with limited deployment options, while bankable cannabis businesses had rapidly growing needs for more and lower cost credit. Since then, the pot of gold opportunity for banks to lend into the cannabis industry has grown exponentially due to a combination of market constraints on equity causing a dramatic shift to debt and the ever-increasing capital needs of one of the country’s fastest growing industries. At the same time, hurdles to entry of new banks are being systematically cleared as the yellow brick road to the cannabis industry’s access to the financial markets is being paved, brick by brick, by the progressively increasing number and size of banks that are now entering the market.

Celebration of Asian American and Pacific Islander Heritage Month

In recognition of Asian American and Pacific Islander Heritage Month (AAPI Heritage Month), Brennan Manna and Diamond is proud to recognize the contributions and achievements of our AAPI members.

Fluresh Cannabis’ Bank Loan: Moving Into the Mainstream

The announcement by Fluresh, a vertically integrated Michigan based cannabis business, of the closing of loans from a federally insured commercial bank totaling almost $50 million represents an important landmark for both Fluresh and the cannabis industry writ large. For Fluresh, perhaps as important as the bottom-line benefits of lower cost financing, the fact that its operations and financials passed muster with a substantial commercial bank can be regarded as an important rite of passage. For the industry, it reflects its inexorable movement out of the shadows and into the mainstream. This substantiates the view that, whether or not any of pending the federal legislation is enacted, bank lending to the cannabis industry will continue to accelerate.

Out of the Shadows | An Investor Summit Recap

After a COVID hiatus of more than 2 years, I rejoined the institutional cannabis investment speaker circuit, offering the closing remarks at the Kahner Global Cannabis Private Investment Summit in Coral Gables, Florida. My remarks addressed how banking developments are increasingly impacting cannabis investment, operating and financial strategies and decisions, for both plant touching and the growing array of ancillary businesses serving the industry.

BMD Announced in Best Law Firms 2022 List

We are excited to announce that BMD is included in the 2022 Edition of U.S. News – Best Lawyers “Best Law Firms,” recognized for professional excellence with consistently impressive ratings from clients and peers. The full firm report is included.