Being a Rainmaker in 2025

It Takes More than a Rolodex

There they are. Graduates of Princeton: public relations pros, partners in law firms, principals in management consulting and masters of the universe in finance. They’re on their phones going through their rolodexes to dig up referrals for one another. Yes, the investment in an Ivy League education has been paying off nicely for the intense networking that goes into developing new business.

That was then.

Now, ranging from public relations to the practice of law it takes a lot more than a bulging rolodex to be a rainmaker. That’s exactly why some equity partners are being demoted or actually forced out in large law firms – the process euphemistically called “de-equitization.” They’re not developing enough new business and/or hanging on to the clients they have had for years.

The new kinds of rainmakers are up on their AI, trends and the dramatically changing expectations of prospects. How does the pitch look in 2025? Here are the contours:

Screams AI. That begins with using AI to conduct data analysis to uncover where the need is. Global volatility is creating gaps in service. That’s where the opportunity has been emerging. Secondly, clients anticipate hearing how AI applications will be used. Increasingly, they actually are demanding those being folded into the proposal. And, third, AI can create added-value in the pitch. CEO Julie Karbo, founder of Karbo public relations, puts it this way in an article in “O’Dwyer’s Public Relations”:

“ … leverage AI-driven analytics to predict future performance [of the prospect’s operations] based on historical data and current trends.”

In-depth understanding of business goals. No longer, at least if you want the business, can the pitch be about a stand-alone service such as a public relations campaign for product ABC or litigation in an antitrust matter.

Instead, as chair of law firm Paul Weiss Brad Karp explains in Leaders Magazine, the approach has to be holistic. That entails formulating strategies which are in the best interests of the entire business. For example, what will minimize risk and improve outcomes for the entire enterprise - not only legally but financially including the stock price, in terms of reputation management, employee/partner/community relations, use of resources and more.

Customization. The kiss of death is being known as providing generic or cookie-cutter strategies. Currently that is sucking away business from myriad management consulting firms. Customizing, of course, mandates research of that particular organization, the major factors impinging on its branding/operations and what wild cards could emerge. Included has to be the recognition that conditions could change on a dime. There would be a watch for that, along with immediate course correction. Speed has always been a competitive weapon.

A sign of the massive disruption in new business development is that boutiques, points out Karbo, are having a good shot at competing with large players for accounts. All those contacts and established branding are counting less and the specific pitch more. But for both the Davids and the Goliaths the meme could be Eminem’s notion of having that one shot. Prospects are impatient and wary.