New Client Development: Using Jay Abraham’s Host-Beneficiary Approach
Monday, February 28th, 2011A great law firm business development tactic is to introduce your clients to your firm’s other clients. Another great tactic: Ask your clients to introduce you to their suppliers, supports, advisors, and the individuals they go to as experts. In other words, in order to meet new prospects and develop new client relationships, work with your clients to “host” meetings with non-competing and complementary prospects. This is the foundation for Jay Abraham’s host-beneficiary approach.
In our first post in this series, we mentioned the importance of becoming your clients’ trusted advisor. In the second, we briefly touched on the importance of client relationships and client retention. Most recently, we talked about asking for referrals. New client development with the host-beneficiary approach builds on these steps.
If you have become your clients’ trusted advisor and have established the good will that comes from a successful business relationship, they will return the favor – when you ask for referrals – by introducing you to other in-house counsel and their clients. The goodwill and solid relationships that they have will work in your favor. It will provide you with the opportunity to, as Abraham suggests, make their clients your prospects.

