Rainmaker: What It is, How It Works, Types

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Updated September 21, 2023

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What Is a Rainmaker?

A rainmaker is a professional who has proven skills in br🌳inging a substantial amount of new business to a company.

Rainmakers appear in companies across a wide range of industries. What they have in common is an ability to attract affluent clients who generate significant revenue.

Key Takeaways

A rainmaker is a professional who is credited with the ability to attract a large amount of new business to a company.
On Wall Street, a rainmaker might be a broker or financial advisor who brings in a number of wealthy clients, or a banker who is able to score merger and acquisition (M&A) deals or mandates for initial public offerings (IPO).
A rainmaker can also be a senior partner who captures lucrative work for a law firm, a politician whose connections lead to new business, or a salesperson known for closing contracts.

Understanding a Rainmaker

Rainmakers are frequently described as having near-magical abilities. That is, they can make things happen even in bad times. That was, after all, the job of real rainmakers, who tried to artificially produce rainfall in drought-stricken areas.

Rainmakers are viewed as having unique qualities that make them more prodꦡuctive than most. They have gained a reputation for being extremely skilled at their craft, having an outstanding network of connections, or bot✤h.

In some ♐cases, the skills of a rainmaker lie mainly in knowing how to work a room, and how to sch🐼mooze all the way to a signed contract.

Provided that their techniques are legal and ethical, their employers are not that bothered about how they go about their job. The company enjoys the harvest that the rainmaker brings and is often will🐈ing to be flexible.

🎐Companies frequently have to scramble to stop rainmakers from jumping ship. Given their proven ability to generate revenue, rainmakers may be heavily recruited by competitors.

The hunter-farmer model of sales suggests that a successful sales team is divided into two groups, the hunter who scores new business and the farmer who nurtures ongoing relationships with clients🅠. Rainmakers could be described as particula𒊎rly successful hunters.

Fast Fact

The term rainmaker has its origins in the ancient art of producing rain by artificial means, called pluviculture.

Types of Rainmaker

Historically, the term rainmaker was usually used to describe infl🎉uential senior partners of a la🌳w firm. They were often former politicians with valuable connections and strong name recognition. Over the years, the name caught on in other fields.

Wall Street

On Wall Street, a rainmaker may be a broker or financial advisor who attracts a number of wealthy clients, or a banker who secures a number of 澳洲幸运5官方开奖结果体彩网:mergers and acquisitions (M&A) deals or mandates for 澳洲幸运5官方开奖结果体彩网:initial public offerings (IPO).

Important

On Wall Street, a rainmaker often leads a team of🥀 brokers or advisers. The team may be part of a package deal when a rainmaker changes firms.

Sales

A salesperson is considered a r൩ainmaker if they are exceptionally good at bringing in new business.

Politics

Some politicians are rꦇeferred to as rainmakers. Those that command this titleℱ are particularly good at swaying votes, raising campaign funding, or both.

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

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