Business plans: why do female partners struggle with them?
I have helped numerous female candidates with their business plans over the years. The common theme with all of them is they undersell themselves. Hugely.
One of the most frequent conversations I have with my female candidates centres around business plans. No matter the size of the hiring firm, a business plan will have to be completed.
It marks an exciting part of the process – it shows that both parties are committed and keen. But let’s face it, with a busy fee earning desk, teams to manage, international travel back on the cards etc. it’s not the most exciting of documents to complete.
In my years of recruitment, I have seen many ranging from the biblical to the more manageable. It’s a way for the candidate to really sell themselves but why do we find them so difficult to complete? Why do female partners in particular really struggle with them?
It usually boils down to underselling. The starting point for a lot of partners is ‘my clients won’t follow me – they are institutionalised – I can’t promise any sort of client following’. It’s the old imposter syndrome creeping in. They don’t believe they are good enough to talk robustly about a following. They don’t think their relationships are strong enough to follow them to a new platform.
What is the key to demonstrating a ‘following’?
I try to encourage my candidates to think of it not as a ‘following’ but as a way of showing a track record of winning and doing work over the years. Sit down, go through your figures over the past few years and be honest with yourself. Where did that client come from initially, who is doing the day to day work, who is managing the matter, who does the client contact with new instructions? Is it you? Have you introduced work to other departments? If so, then potentially that client will follow you. You are not making any guarantees the client will follow, simply that you have a strong relationship with them.
Also remember it is a joint venture. You, as the candidate, provide as much information as you can about your practice to date but it is then for the hiring partner/firm to add their piece to it to illustrate why the hire is advantageous to both sides. It shouldn’t all be a one-way stream.
Why the business plan is a crucial tool in getting the role you want
Female lawyers all too often are not honest in completing their business plans and by that I do not mean they are exaggerating. The opposite! They undersell themselves. Imposter syndrome kicks in at every stage. Use this business plan as a way of selling yourself.
Remember that the document will be seen by a number of partners, in various departments, who will have to vote upon your entry to the partnership. They may not have met with you in person as part of the interview process. It is vital you present yourself in the best way possible.
My advice is this: approach this document with a positive mental attitude. Be realistic about what you can bring, but be positively realistic. This is no time for false modesty!
