A:

A rainmaker is any person who brings clients, money, or respect to an organization based solely on his or her association. Traditionally, the term "rainmaker" applied to members of the legal profession, like attorneys-turned-politicians who retired from public life (forcibly or otherwise) and went on to practice law at nationally-recognized firms.

Over time, the term gained usage in many other industries and activities, including investment banking, political campaigning and public speaking. For example, former U.S. Vice President Al Gore's association with the environmental movement caused numerous venture capital firms to add Gore as a partner in hopes that his "rainmaking" abilities would help them raise hundreds of millions of dollars for alternative energy initiatives.

In everyday usage, the term "rainmaker" can apply to anyone - from the salesperson who always finishes first in sales to the engineer who consistently finds innovative ways to present a company's products. In the purest sense, a rainmaker is a difference maker.

This question was answered by Justin Bynum.

RELATED FAQS
  1. When should retailers apply the 'always be closing' (ABC) strategy?

    Understand when it is appropriate to use the term "always be closing," and learn why a salesperson should want to embrace ... Read Answer >>
  2. How soon should I start saving for retirement?

    Learn about the basics of retirement planning and the reasons why it is so advantageous for individuals to start saving for ... Read Answer >>
Related Articles
  1. Investing

    Rainmaker Systems: A Case Study in Volatility

    Find out about the share price volatility for Rainmaker Systems and the mistakes the company made, as well as why it may be a stock to avoid in the future.
  2. Small Business

    What is a Firm?

    A firm is a business or organization that sells goods or services on a for-profit basis.
  3. Financial Advisor

    How to Construct an Annual Review for Clients

    One of the best things that advisors can provide to clients is an annual review of their financial situation. Here are some guidelines.
  4. Small Business

    How Often Should You Contact Clients?

    Figuring out how often an investment advisor should contact clients is not easy.
  5. Investing

    Meet OPEC, Manager Of Oil Wealth

    This organization's decisions can influence oil prices, but there is a limit to its power.
  6. Investing

    5 Free Or Low-Cost Legal Services

    Legal fees have never been more expensive. Here are some ways for you to save on legal fees while still getting reliable advice.
  7. Financial Advisor

    Retirement Investing Strategies for People in Their 60s

    Here are four things clients in their 60s need to consider when it comes to retirement planning.
  8. Financial Advisor

    How Advisors Should Prep for an Initial Meeting

    First impressions count, so prepare well for your first meeting with a client. Get to know as much as you can about the person and be ready to answer questions.
  9. Tech

    A Day In The Life Of A Public Accountant

    Here's an inside look at the workdays of two experienced CPAs, to give you an idea of what it might be like to pursue a career as a public accountant.
  10. Retirement

    Retirement Tips for Lawyers

    Learn valuable tips that lawyers can use to prepare themselves financially, mentally and emotionally for a great new life in retirement.
RELATED TERMS
  1. Rainmaker

    A broker or financial advisor who brings a large number of wealthy ...
  2. Raintaker

    A former employee of a brokerage firm who takes high-value clientelle ...
  3. Firm

    A firm is a business organization, such as a corporation, limited ...
  4. Statutory Liability

    A legal term meaning that someone can be held responsible for ...
  5. Best Practices

    A set of guidelines, ethics or ideas that represent the most ...
  6. Public Securities Association - PSA

    The predecessor association to the Bond Market Association, which ...
Hot Definitions
  1. Portable Alpha

    A strategy in which portfolio managers separate alpha from beta by investing in securities that differ from the market index ...
  2. Run Rate

    1. How the financial performance of a company would look if you were to extrapolate current results out over a certain period ...
  3. Hard Fork

    A hard fork (or sometimes hardfork) is a radical change to the protocol that makes previously invalid blocks/transactions ...
  4. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  5. Ethereum

    Ethereum is a decentralized software platform that enables SmartContracts and Distributed Applications (ĐApps) to be built ...
  6. Zero Day Attack

    Zero Day Attack is an attack that exploits a potentially serious software security weakness that the vendor or developer ...
Trading Center