Attorneys still count for the vast majority of referrals for BV experts and valuation analysts. Most litigators have a fairly set “list” of trial consultants to call on, however. So, when the question came up at the September Divorce Summit regarding how a BV expert could break into the old circle, the first suggestion was to approach young lawyers and related groups at local bar associations. “Most of them have no idea what the income approach is,” said Mark Sobel. "Teach them what you do and how you do it.” Another suggestion: Offer to provide in-house training for targeted firms on how to understand financial statements and similar “BV 101” topics. You can also attend “Inns of Court” and other gatherings of judges—who are always looking for good speakers. Attorneys tend to gather wherever judges do. “Then we will see you, see that you’re good, and all of a sudden, you’re on our short list,” said Stephen Kolodny.
“Marketing is mostly superficial,” added Don Schiller. "It’s nice to be taken to lunch or to go to a reception, but what’s really going to impress is if you write or lecture. Actions speak loudest.” Publishing in law magazines or professionals journals (such as the Business Valuation Update) can help expand your exposure and cement your expertise. Essentially, anything you can do to build a reputation within your legal and professional communities will help you break into the litigation Big Leagues. A complete round-up of all the lawyers’ comments, including what they expect from every BV expert, will appear in the December BVUpdate.
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