David M. Ward, Author at The Attorney Marketing Center

How much are you willing to invest in your law practice?

May 20, 2014 by David M. Ward

I read about a recent law school graduate who has $200,000 in student loans and can’t get a legal job. Not surprisingly, he questions the efficacy of taking on large loans for a spec legal career. But what if he did get the job he thought he would? Me thinks he might be playing a different tune.

We invest money in law school because we think we’ll be able to pay it back and make a handsome return on our investment. We do the same thing when we open a law office.

We also invest our time. We spend years getting our education, and more years working long hours for inadequate pay, with the knowledge that some day, it will be worth it.

When things go right, nobody blinks. When they don’t, that’s all anyone talks about.

The past is past. You either made a good investment or you didn’t. Don’t look back. Look forward.

Wherever you are right now, ask yourself what you are willing to invest in your future.

How much money? How much time? Especially time.

How many hours per week are you willing to invest in marketing and building your practice? How many networking events are you willing to go to without seeing an immediate return? How many blog posts or articles are you willing to write this week, this month, this year?

When I opened my first office, I spent the little funds I had on furniture, rent, and a typewriter. I needed the rest for living expenses. I didn’t have money but I had lots of time. Later, when my practice grew, I had money and no time. To continue to grow, I had to find the time because I couldn’t compete with the big budget advertisers in my market.

I found the time by delegating as much of my work as possible. I gave up personal time. And I invested this time in building my practice.

I talk to a lot of lawyers who tell me they don’t have time for marketing. Borrow the time. You’d borrow the money if you needed it, why can’t you borrow the time?

How much time are willing to invest in your law practice? The Formula will help you create a marketing plan.

Filed Under: Increase your income, Marketing legal services Tagged With: investing in your career, law school debt

The lifetime value of one-time clients

May 19, 2014 by David M. Ward

I got an email from a marketing expert I follow who asked us if we would prefer to have a customer or a buyer on our list. What’s the difference? A customer is someone who buys something or hires you once and then goes on their merry way. They might come back, they might not. A customer, on the other hand, is someone who makes a custom of buying from you, “because of the trust, respect, and loyalty they have for you.”

So, customers are better than buyers.

Repeat clients are better than one-time clients.

Does this mean lawyers should only practice in areas where clients make a custom of hiring again and again? Should we choose business law, for example, with lots of repeat business, over consumer bankruptcy where the client might hire us once in a lifetime?

Not necessarily.

Someone who “buys” from you once and never again isÂ potentially just as valuable as someone who hires you frequently. They should be courted and nurtured. We should build relationships with one-time clients, even if they never hire us again.

The lifetime value of a client is only partially measured by the fees they pay us. There are many other ways they can deliver value and help our practice grow. They can provide

Referrals
Website traffic
Recommendations and positive reviews
Introductions to other professionals, meeting holders, editors, bloggers, etc.
Invitations to networking events
Feedback about our services (so we can make improvements)
Information about our target market or community
Likes, re-tweets, and sharing of our content
Forwarding our emails to others in our target market

They can send us business, help us build our list, and otherwise help us bring in more business. In fact, what a client does for us outside of paying fees could easily be worth far more than the fees they pay. In terms of referrals alone, some clients who never hire you again could be worth many times the fees generated from clients who hire you again and again.

In fact, someone who never hires you could be worth far more to you than someone who hires you repeatedly.

The lesson? Treat everyone as though they are your biggest client. Provide extras. Help them every way you can. And stay in touch with them, before, during, and after the engagement or case.

You never know what someone can do to help you.

The Referral Blitz is one way to get clients and contacts to help you build your practice. Click here for details.

Filed Under: Client loyalty, Client relations, List building, Referral sources, Referrals, Relationship marketing Tagged With: lifetime value

Are we having fun yet?

May 13, 2014 by David M. Ward

I have a theory. And a challenge for you.

My theory is that we are put here on earth to have fun. The purpose of our lives is to feel and express and share joy.

We work because we enjoy what we do or because it provides the funds that allow us to do what we enjoy. We learn things because we enjoy learning or because it makes us better at our work, which allows us to have more fun.

We raise kids because they give us joy (most of the time). We embrace our religion because it gives us inner peace, direction, purpose, and pleasure.

We watch TV and movies and play games because it’s fun. We buy new clothes and new cars and other things we may not need because we enjoy looking good.

Every sentient being acts to either avoid pain or achieve pleasure. We’re hard wired for this. We avoid danger and we seek comfort. Humans are defined by our self-interest, and as we pursue things that make us happy, we make the world a better place. We create, we contribute, we share.

I’m no philosopher, but this is what I choose to believe. And. . . I enjoy believing it, so don’t try to talk me out of it.

Are we having fun yet? Yes, we are. That’s what we’re supposed to do.

My challenge to you is to admit why you’re here. Confess that you are a pleasure-seeking creature and give yourself permission to freely express your love of life.

Make it a habit. At least once a day, do something completely fun. Play a game, read a comic book, watch a funny video. Do something creative, just for the fun of it. If you have to, schedule 5 minutes a day on your calendar and label it “fun”.

Imagine what it would be like having fun all day long. Getting up with a smile instead of a groan. Doing deeply satisfying work. Surrounding yourself with people and things that make you happy. Going to bed at night knowing you have a purpose and you have lived that purpose.

This is not a pipe dream. You’re on your way towards making this your reality. You may start with 5 minutes of scheduled fun, and if that’s too much for you, start with one minute. Then two. Eventually, most of your day will either be outright fun or something that supports it.

Life is supposed to be fun. If it’s not, you’re doing it wrong.

Filed Under: Inspiration, Just for fun, Personal development

Make better decisions by making fewer decisions

May 12, 2014 by David M. Ward

I’ve heard it said that successful people make decisions quickly and change their mind slowly, if at all. One advantage this confers is that it helps the decision-maker avoid “decision fatigue,” a phenomenon that refers to the “deteriorating quality of decisions made by an individual after a long session of decision making.”

One studyÂ of judges reviewing parole applications found that judges were more lenient earlier in the day than they were after a long session of decision making:

What the researchers found was that at the beginning of the day, a judge was likely to give a favorable ruling about 65 percent of the time. However, as the morning wore on and the judge became drained from making more and more decisions, the likelihood of a criminal getting a favorable ruling steadily dropped to zero.

After taking a lunch break, however, the judge would return to the courtroom refreshed and the likelihood of a favorable ruling would immediately jump back up to 65 percent. And then, as the hours moved on, the percentage of favorable rulings would fall back down to zero by the end of the day.

Apparently, our willpower becomes weaker after we have made a lot of decisions or we are otherwise fatigued.

To makeÂ better decisions:

Make fewer decisions. Once you decide on something, stick with it, unless there is a very good reason to change your mind.
Make important decisions earlier in the day. Similarly, save less important decisions for later in the day, to avoid impulsive decisions.
If you have to make important decisions later in the day, eat something first.
Schedule important tasks for earlier in the day. When decisions come up, you will be more likely to make better ones.
Sleep on it. Before making important decisions, make sure you have had a good night’s sleep.
Take breaks throughout the day. Even a few minutes of rest can help you avoid making impulsive decisions.
When making important financial decisions, such as for a major purchase, decide as much as possible in advance. For example, when buying a car, decide on as many variables before going to the dealer and speaking to a sales person.
Turn off distractions (email, Internet, social media) when working. Constant decision making (e.g., should I check my email?) is wearing and inefficient.

Of the lot, making fewer decisions will probably give you the biggest bang for your decision-making buck. Lawyers have the most difficultly with this, don’t we, what with all that “one the one hand” and “one the other hand” conditioning? Life is easier, however, when you can get some things off your decision-making plate and be done with them.

For example, let’s say you are undecided about the use of social media in your marketing. You hear everyone and his brother saying “you must” and you hear me and a handful of others saying “not necessarily.” Then you hear about the different platforms you can use and how best to use them. Every day, you are bombarded with information and advice.

Wouldn’t it be nice to know what you will and won’t do?

Spend enough time researching the subject and make up your mind. Then, move on.

If you’re not going to do anything on Pinterest, you never have to read about Pinterest or think about it again. If you don’t like social media and don’t want to use it, don’t beat yourself up about it. Done. Next subject. If you are convinced that Facebook is essential for building traffic and engagement and meeting prospective clients and referral sources, then get busy with it.

The word “decide” comes from the Latin meaning “to kill the alternative”. Go forth and slay some alternative dragons, young warrior. You’ll sleep better knowing they are dead and buried.

How I use social media in my business. Click here.

Filed Under: Dealing with stress, Personal development, Social media, Social media marketing Tagged With: decision fatigue, decision making

Networking for lawyers who don’t like networking

May 9, 2014 by David M. Ward

Think of a professional, business owner, or executive, you know. Got it? Okay, next, think of someone else you know in the same market or community who (you are pretty sure) doesn’t know the first person. This could be a business client, or prospective client.

Now, call the first one and ask if they know the other person. If they don’t, tell them how great they are and tell themÂ you want to introduce them. They might be able to do some business together. They might be able to help each other in some way (write articles, interviews, joint venture, referrals, etc.) Or, they might just meet a kindred spirit.

Next, introduce them. Do a three-way call, or meet for coffee.

Then, get out of the way. Your job is done.

One of the most valuable (and easiest) things you can do in networking is to simply introduce people. In doing so, you are providing value to both. Of course, you’re also helping yourself this way. The two you introduce may not do business together but they will both be grateful that you made an effort to help them.

Networking for lawyers doesn’t have to be formal, time consuming, or awkward. It can be done quickly and over the phone. And it can yield huge benefits.

Think about who you know and who might like to know them. And from now on, when you meet someone new, think about who you know you can introduce them to.

Want more referrals? Consider doing a Referral Blitz.

Filed Under: Networking, Referral sources, Referrals, Relationship marketing

What advice would you give your younger self?

May 7, 2014 by David M. Ward

If you could write a note to your younger self what would you say? You can talk to yourself as a young child, a student, or early in your career. Or all of the above. Share your hard-earned wisdom and your knowledge of the future.

What would you say about your choice of career? Would you recommend a different college? A different major? A different career?

What would you say about getting a job, going solo, or getting a partner? How about your specialty?

What advice would you have about networking, advertising, speaking, writing, and the Internet?

Would you tell yourself to travel more? Pursue a hobby? Start a business? Follow a dream?

What would you tell yourself about what’s important, and what’s not? Would you recommend taking more chances? On what?

What books would you tell yourself to read?

Is there something you would tell yourself to avoid? Do differently? Start earlier?

What would you say about dating, marriage, and children? Would you tell yourself to take better care of your health? What specifically would you tell yourself to do?

Your letter, of course, isn’t really a letter to your younger self, it’s a letter to your current self. It’s a way to get you to explore what’s important. You may not be able to undo what you did in the past but you can start your future today.

I’m doing things today I always wanted to do but never “allowed” myself to do. I made excuses about why I couldn’t, told myself there was no money in it, or convinced myself it would have to wait. Five or ten or twenty-five years from now, I want to be able to say, “I’m glad I did,” instead of “I wish I had”.

It’s not too late to follow your dreams. You’re not too old. You can start a new career, a new business, a new way of doing things. You can get healthy. Be happy. And live the rest of your life doing what you want to do.

Filed Under: Inspiration, Personal development

Marketing legal services like a bookkeeper

May 6, 2014 by David M. Ward

Bookkeepers aren’t usually known for their prowess in marketing legal services, but if you put them in charge of marketing for your firm, they’d probably advise you to do something like the following:

STEP ONE

Make a list of your “best” clients over the last two years. These are the ones who pay you the biggest fees, give you the most business, and other factors (e.g., provide the most referrals, most enjoyable to work with).

STEP TWO

Write down a few details about each client. For business clients, record their industry, size (revenue, employees, units), etc.; for consumers, record their occupation, age group, and other demographic factors. Also note the client’s “presenting problem,” i.e., legal issue or objective they first approached you about.

STEP THREE

For each client, note how they found you (or you found them):

Referrals: From whom? Client? Professional? How did I meet that person? What prompted the referral?
Internet search: What keywords? What landing page? (Note, start tracking this going forward)
Internet other: What article, site, or page did they come to your site from? (Start tracking this, too)
Social media: Which platform? Which post/tweet, etc? Who re-posted/tweeted/recommended?
Networking: Which group? Who introduced you? What did you say, do, offer? What did they ask you?
Ad: Which publication? Which ad? Was it the first time they had seen it?
Other: Speaking, articles, etc.

If you don’t know the answers, ask the client, and update your systems to start tracking this data in the future.

STEP FOUR

Based on this information, think about what you can do to get more clients like your best clients. If most of them are coming from referrals from other professionals, think about how you can strengthen your relationship with those professionals and how you can reciprocate. If you’re getting a lot of referrals from certain clients, reach out to them to thank them and look for other ways you can help them outside of your legal services.

How much business are you getting from ads, speaking, or social media? If not much, cut down on or eliminate time and money in those areas. If you do get good clients from these efforts, do more of these.

Now that you’ve identified your “best” clients, speak to them and find out more about them. What groups do they belong to and network at? What publications do they regularly read? Where are they active in their industry or community? The more you know about them, the more you can focus on activities that may help you identify and attract clients who are similar to them.

Ask your best clients to identify other professionals they work with and ask them to introduce you. Contact those professionals, let them know you have a mutual client, invite them to coffee.

Your bookkeeper would tell you to identify things that have worked best for you in the past so you can do more of them. She would also tell you to reduce or eliminate those things that have not worked well for you in the past.

The numbers tell the story.

Please say hello to your bookkeeper for me, and ask her if she would like to write a guest post for my blog.

Do you know The Formula? Go here now

Filed Under: Law office management, Marketing legal services, Marketing Plan

People tell me I’m funny, but looks aren’t everything

May 5, 2014 by David M. Ward

Apparently, being funny is good for your career. According to this article, there are lots of benefits to a sense of humor in the workplace.

But what if you’re not funny?

We all know people who seem to be humorless. They may appreciate other people’s humor but they simply don’t have it in them to make anyone laugh.

Can you learn to be funny? I’m thinking not. And the only thing worse than having no sense of humor is thinking you do.

Trying to be funny when you don’t have a funny bone could do a lot of harm. In front of a jury, for example, a natural sense of humor, used appropriately, can score points. If you miss, it could be disastrous.

Some lawyers take “stand up comedy” courses. Others take acting classes to learn how to loosen up in front of a crowd. Do they help? Maybe. But at the end of the day, I’m in the camp that says you either have it or you don’t.

If you’re not naturally funny, it’s okay. On the Star Trek series, the Klingon characterÂ Worf is depicted as someone with no sense of humor. Nevertheless, he is respected, trusted, and generally liked. He would die to protect his friends and colleagues, he just won’t die laughing.

A sense of humor is a valuable asset but there are other ways to improve communication and foster liking and trust. Becoming a good listener is a notable example and it is a skill that can be learned.

In Dale Carnegie’s, “How to Win Friends and Influence People,” he doesn’tÂ say anything aboutÂ being funny. He does talk about the next best thing: smiling. When you smile, people see you as happy and friendly and nice, and they like you because of it. When you smile, they smile and they feel good about themselves, and about you.

Smile and the world smiles with you. Tell a bad joke and the world rolls their eyes.

Filed Under: Communication, Image, Networking, Personal development, Public Speaking Tagged With: humor, smiling

How to make a better second impression

May 2, 2014 by David M. Ward

I admit it, I donâ€™t always make a good first impression. Sometimes, I say things that come off as insensitive or inappropriate and my sense of humor sometimes leaves people wondering if Iâ€™m still in junior high.

Do you ever do these things? Do you ever wish you could go back and un-say what youâ€™ve said?

You can. And doing so will often create a better impression than you could have hoped to create the first time around.

The answer to a good second impression is to admit your mistakes. First, to yourself. You have to know when youâ€™ve messed up. Then, to the person or persons you have insulted, confused, or otherwise left scratching their head.

Apologize. Itâ€™s as simple as that. You donâ€™t need to explain, although that might help if you do have an explanation other than â€œIâ€™m an idiotâ€. Usually, a simple, Iâ€™m sorry, I didnâ€™t mean it,â€ is enough.

Most people understand. Most people are forgiving. Most people will like you better for being honest enough to admit your mistakes and for caring enough to come forward.

Itâ€™s well known in marketing that when a customer or client is upset, making things right often leads them to become long-time clients and ardent supporters. I think it has something to do with releasing the tension created by the initial mistake or problem.

As lawyers, itâ€™s often difficult for us to admit weâ€™re wrong. We donâ€™t want people to know we make mistakes. Because of this, when we admit our transgressions, it can make an even bigger impact.

If you have made a bad first impression, fess up and fix it. You can make a better second impression. Unless you own an NBA team and you just donâ€™t care.

Need help with marketing? Here you go

Filed Under: Client loyalty, Client relations, Communication, Networking, Personal development Tagged With: Donald Sterling