Name: Lisa C. Wood
Firm Name: Foley Hoag LLP
Address: 155 Seaport Blvd., Boston, MA 02109
Phone: 617-832-1117
Nominated by Silvia L. Coulter
Practice area: Complex Business Litigation

Lisa Wood is a partner in the Boston office of Foley Hoag LLP. She has 25 years of experience handling complex business litigation, principally in the areas of securities fraud, accountants liability, and antitrust. Lisa has represented a wide range of clients, including the “Big Four” and other national, regional, and local accounting firms; numerous Fortune 500 public companies; and, in the financial industry, many institutional investors and broker dealer firms.

What is your most successful or favorite rainmaking tip?

Identify an industry you’d like to target for business development. Become familiar with that industry through trade literature, seminars, and frequent contact with your clients and other industry participants. Identify industry trends and figure out how those trends will play out in the litigation context. Identify the key industry participants and your most likely client prospects. Plan your marketing efforts around what you’ve learned about the industry and its participants. Do not engage in random activities with prospects.

What was the best career advice you’ve received?

I was lucky to have two mentors early in my career who encouraged me to specialize and got me involved in bar activities related to my specialty. This helped me develop a national profile early in my career that has helped me develop business and cultivate excellent referral sources. I’ve also been fortunate to make many lifelong friends from my outside activities who have sustained me through the ups and downs of my practice, and taught me a lot about the business of law.

Approximately what percentage of time do you devote to marketing and business development?

15 to 20%

What is your proudest accomplishment?

I would say it is that I was able to develop my own significant book of business handling just the kind of complex litigation matters I have always wanted to handle.

Was there one rainmaking strategy or tactic that you initially thought would work, but it failed? Why did it fail?

I learned that keeping in regular contact with sources of business was not enough. One must ask for business. Clients really do not mind if you are direct and ask for the business. To be successful as a rainmaker, you need to be able to first identify the client’s needs and then articulate why you are the right choice to address those needs.

Was there one rainmaking strategy or tactic that you initially thought might not work, but turned out to be a great success? Why was it successful?

I really avoided making cold calls to prospects for many years, and only did so when pushed by a business development coach. It definitely helped to have a coach who could offer personalized training, walk me through the process, and assist me in setting up the calls.

I’ve been pleasantly surprised how successful such initial calls have been in securing meetings that then lead to new business.

What has been your greatest frustration when trying to acquire new business or new clients?

Clients are just so busy it is hard to get their attention, but it is very important to find opportunities to talk outside the day-to-day conversations about particular matters.

If you were mentoring a young woman lawyer, what rainmaking advice would you give her?

Specialize; cultivate mentors; get active outside the office; develop good business development skills if you do not have them naturally; make sure you are at the right firm for your practice. Be proactive in signing up for “sales” training and other classes. It can help to develop a network of peers who are learning these skills along with you so that you can compare notes, hold each other accountable, and otherwise support one another.

Think about when you started out as a lawyer, then think about the women just beginning their legal careers today. What is different now compared to when you started?

Today there are more women on the bench and in senior positions at law firms and companies. Early in my career, I was often the only woman attending a deposition, court hearing, or client meeting. Although my uniqueness helped me develop a profile early on, it is important to have the opportunity to work with and learn from other women, and I have really enjoyed the opportunity to do so in the last several years.

What are three words that best describe you?

Dynamic, business-savvy, creative.