What is a Rainmaker?

A rainmaker is any person who brings clients, money, business, or even intangible prestige to an organization based solely on his or her associations and contacts. The rainmaker is usually regarded highly within the company by other employees and is a key figure like a principal, partner, or executive. The term is sometimes used in the context of political fundraising as well.

Traditionally, the term “rainmaker” has been applied to members of the legal profession, like politicians with law degrees who retire from public life to practice at nationally recognized law firms. However, over time, the term has gained usage in many other industries and activities, including investment banking, political campaigning, and public speaking.

Technically, a rainmaker can exist in any part of any business, but the phrase is most commonly applied to people with the ability to make significant change in a few key sectors:

Politics: The rainmakers in politics are usually less visible, but the phrase can apply to past officeholders who hold connections to wealth and political power. Someone who can sway a vote is considered a rainmaker, as is a personality that can bring large crowds to a fundraising event.

Corporate Business: Business is the sector where the term is most commonly used. It is usually given to partners or associates (usually in legal teams) that possess the connections or ability to foster connections that bring significant business to the company or firm. Rainmakers in business are defined by their ability to come through with big clients and to motivate existing clients to spend more money.

Entertainment: The entertainment rainmaker is similar to the business rainmaker, but their focus is a bit different. In entertainment, talent is the most valuable commodity, which is why rainmakers in the entertainment business are individuals who are able to secure talent. A good example would be a stadium being able to book a headlining act like Ed Sheeran when his schedule is fully committed, or knowing how to get Michael Jordan involved in a charity event.

Rain checks keep customers from defecting to the competition. Some states require stores to make good on their advertised offers by providing rain checks, because when a store advertises an item on sale, it is expected to have that item in stock. If rain checks didn’t exist, stores could run ads for cheap items and never have to honor the offers.

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