How much cash should you have before you open your own office?

April 15, 2016 by
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I just heard from a lawyer who works for a firm and is thinking of going out on his own. He wants to know how much he should have in savings before making the leap.

Well, you need some cash–but a lot less than you might think.

You don’t have to invest in inventory. You don’t need to hire anyone until you have clients. You can get into an office with a couple months rent.  And if you plan to advertise, you don’t have to buy TV time or billboards, you can start with a small budget and scale up.

In other words, you don’t need a big pile of money to open your own practice. What you need is some cash on hand to pay your bills until the practice is producing enough income on its own.

But how much?

Six months? A year? Two years?

I don’t know. I don’t have a formula. But I can tell you this: it’s better to have “too little” than “too much”.

A big pile of money in the bank takes the pressure off of you. You can take your time. Be selective. Relax and do things “right”.

And that’s the problem. If you don’t have to hustle, you probably won’t.

When I opened my first office, I had almost no money in the bank. I sold my childhood coin collection to buy some (cheap) furniture and pay the first month’s rent on a small office. I bought an IBM Selectric typewriter with nothing down and payments of $43.43 per month. I bought some stationery, cards, pleading paper, legal pads, file folders, and pens. I had enough left over to cover a couple of months rent and basic expenses.

I was open for business, but I didn’t have any. No clients.

I took out a cheap classified ad in the local bar journal, seeking overflow work and appearances. And I hustled my rear end off to bring in some clients of my own. At first, I took anything, including work I hated and was barely qualified to handle. Most of my clients paid me next to nothing because that’s all they could afford and I took it because I needed whatever they could pay.

Every month was a struggle to cover my bills. It took five years before I figured things out, but I made it.

I made it because if I didn’t bring in business, I didn’t eat.

Looking back, I don’t know what would have happened if I had had lots of money at the start. Yeah, I do. I probably would have gone through it, thinking I had lots of time, and only then would I have had enough pressure to make things happen.

Your situation is different. You have more experience as a lawyer than I did. You know more about marketing than I did. And you have the Internet, which allows you to ramp things up more quickly. But you also have more competition than I did.

The bottom line on making the decision to open your own practice has little to do with how much money you have at the start, and everything to do with your drive and determination.

How bad do you want it?

If you’ve got lots of energy and you’re willing to work harder than you’ve every worked before, if you’re prepared to do whatever it takes to make it, you’ll make it.

Or you won’t. There are no guarantees. No paycheck, no benefits. Nothing. You have to build it all.

It’s called risk, but risk is the path to reward.

Make sure you have a marketing plan before you open your own practice

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Filed Under: Law office management, success Tagged With: ,

By the inch, it’s a cinch

April 14, 2016 by
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I saw a quotation the other day that is a testament to the value of personal growth. It said, “You don’t overcome challenges by making them smaller but by making yourself better”.

Jim Rohn said, “Don’t wish for fewer problems, wish for better skills”.

If we want to achieve more, we need to become more because we don’t necessarily get what we want, we get what we are.

As we increase our skills and knowledge, we can handle bigger problems and achieve bigger goals. But is personal growth the only path to success? Are there no shortcuts, no ways to bypass the rigors of personal growth?

I think there are. I think we really can overcome challenges by making them smaller.

If you have a big problem right now, break it down into a series of smaller problems that are easier to solve. Break down your big goals into a series of smaller goals that are achievable now.

Let’s say you have a goal to double your income in the next two years. Traditional thinking says that to earn that kind of income you must first become the kind of person who earns that kind of income.

But maybe you don’t.

Maybe you could double your income by getting some better-paying clients or bigger cases. Maybe you could partner up with another lawyer who’s better at marketing than you. Maybe you could change practice areas, open a second office, or finally take the plunge and do something about that website of yours.

Am I saying we don’t need to work on personal growth? Not at all. For long-term success, it’s imperative. Think about the many lottery winners who go broke in a few years because they weren’t millionaires on the inside, they simply had millions of dollars in the bank.

What I’m saying is that while you’re growing and developing, look for ways to break up big problems and big goals into smaller ones. Because by the inch, it’s a cinch.

Attorney marketing made simple

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Filed Under: Personal development Tagged With: ,

How to make yourself do something you don’t want to do

April 13, 2016 by
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I know about that thing you’re supposed to be doing. I also know it’s not getting done. No, I didn’t speak to your wife, I just know. You’re dilly dallying. Avoiding it. Procrastinating.

You know you should do it, but you don’t want to. So you don’t.

No worries. I’m here to help.

The first thing I want you to do is to write down this thing you don’t want to do. Former CEO and author Max de Pree said, “The first job of a leader is to define reality,” so get busy and put it in black and white. You don’t have to show it to anyone, but if we’re going to get this thing done, we need to know what it is.

Have you written it down? Good. Now look at it and imagine being able to put a check mark next to it, or crossing it off your list.

What’s next?

Well, you know it’s important, and you know you’d like to get it done. But you need some convincing to do it.

Maybe you should hire a lawyer.

Wait, you are a lawyer. How about hiring yourself to argue the case for “doing it”?

You’re an advocate, so advocate. Write a demand letter to your other side (the side that doesn’t want to to it) and demand that it be done.

Present the arguments, the facts, the logic. Describe all of the benefits of getting it done. Describe the negative outcomes if you don’t.

Make the case for going to a networking event once a week, starting a newsletter, or adding content to your website. Tell yourself why you should, and give it all you’ve got. Your client is depending on you.

If you think it will help, sweeten the deal by offering a bonus. Promise yourself the rest of the day off, for example, if you get this thing done. Put a deadline on accepting the deal, and a non-negotiable start date and time. Add liquidated damages in case of default.

This may sound silly, but it’s not. Not for something important. You already know the reasons why you should do this thing. You just have to talk it through. No more hiding from it, burying it on a to-do list and moving it from week to week. It’s time to do it.

So yeah, hire yourself to advocate and negotiate the deal. You’ll be the best client you’ve ever had, and if you win this case, you might earn the biggest fee you’ve ever received.

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Filed Under: Personal development, Productivity Tagged With:

How to turn business contacts into referral sources

April 12, 2016 by
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Okay, so you know a lot of people. You’ve got their names and contact information in a database or contact management system, along with some notes about what they do. You suspect that many of these people are able to send you referrals or otherwise help you build your practice.

But most of them don’t.

In fact, you never hear from most of them. Why is that? Because [. . .drum roll. . .] they never hear from you.

Yeah, it’s that simple. They might be willing to send you business. The primary reason many of them don’t is that they don’t think about you.

But that’s easy to change. If you do nothing more than commit to regularly staying in touch with your business contacts, you’ll go a long way towards activating a fair percentage of them and turning passive contacts into active referral sources.

Staying in touch allows you keep your name in front of your contacts. When they have someone who needs your services, that alone might earn you a referral.

I say “might” because there are a lot of other reasons why someone might not refer. You can go a long way towards further increasing the odds of getting them to do something for you if you do something for them first.

That “something” doesn’t have to be a referral. It might be sharing information with them about a prospective client, news about their target market or industry, marketing ideas you think they could use, or even a personal favor.

How do you know what you can do to help them?

You ask.

In addition to staying in touch with your business and professional network, en mass, through email primarily, you should also call at least one member of your network each week.

Get re-acquainted. Ask how they are doing, and how you can help. What are they working on? What do they need? What do their clients need? If it’s not something you can help them with directly, you might know someone who can.

Are they looking for a software solution? Websites in their niche that accept advertising or guest posts? Are they working too many hours because they don’t know how to find and hire a virtual assistant? Do they simply need a word of encouragement?

No matter how busy you are, you can call one business contact each week. Do that, ask them how you can help them, and watch how many ask how they can help you.

For more ways to turn lawyers and other professionals into referral sources, get this

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Filed Under: Referral sources Tagged With: ,

ROFLMAO: Can attorneys use humor to build their practice?

April 11, 2016 by
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When was the last time you laughed so hard your belly ached?

When I asked myself that question I immediately thought about Seinfeld. It made me laugh then, and it still makes me laugh today.

Seinfeld masterfully touched on human foibles while avoiding the politically correct and overtly sexual themes we see today. Nobody got hit in the nether region. Nobody got political or lampooned traditional values. Nobody said or did anything that made you want to cover your kid’s ears.

Instead, we had bits about parking in New York, tanning beds, postal workers, and a library cop.

I still laugh whenever I think about Elaine, who couldn’t believe something Kramer was telling her, saying “Get out!” and giving him a shove that sent him backwards through the open door. Or Kramer buying the set from The Merv Griffin Show and conducting his own talk show in his apartment, complete with guests, bumper music, and commercial breaks.

If you were a fan, no doubt your remember your favorite bits: Soup Nazi. Festivus. Shrinkage. How about Elaine dancing? Or any dinner with the Costanzas?

Maybe you weren’t a fan of the show, or never saw it. I’m sure you have TV shows that make you laugh. You can use these to forge a stronger bond with clients and prospects who share your appreciation for those programs.

I know a criminal defense lawyer who has a stand-up comedy act, and while he doesn’t tell jokes in the courtroom or the office, he uses humor to connect with his clients and contacts. We can all do that to some extent.

Did you smile when I recalled a few of my favorite Seinfeld bits? If you did, perhaps you felt a little more connected to me as you recognized something we have in common.

Many lawyers don’t have much of a sense of humor, however. Not that there’s anything wrong with that. (See what I did there?) But while not every lawyer can BE funny, every lawyer can share things that are funny.

So what am I saying? I’m saying you don’t have to avoid humor just because you’re a professional. You can and should use it, judiciously, to connect with people.

Go ahead and share that funny cat video on social media. When you speak with a client, ask her if she watches a certain show, and if she does, mention a character or situation that makes you laugh.

I know, this is more difficult today. When a family friendly program like “Full House” gets rebooted and uses sexual situations and political slights, you know we’re not in Kansas anymore. So be careful.

Make sure everything you reference is “appropriate for all audiences”. You don’t want to mention something that makes your clients think less of you just because you admitted watching it.

Keep the raunchy shows and the politically oriented shows to yourself, and find something everyone can enjoy.

If you can’t find anything suitable for prime time, you can always mention a show about nothing.

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Filed Under: Client relations Tagged With:

The simplest way to get more referrals

April 8, 2016 by
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You want simple? You can’t handle simple! Okay, maybe you can.

So I’ll tell you the simplest way to get more referrals, but on one condition–that you tell your lawyer friends about me. All you need to do is send them to The Attorney Marketing Center. They’ll thank you, and I will too.

If you’re reading this in an email, go ahead and forward it to them. Click, address, done.

Will ya do it? Great. Then I’ll go ahead and share with you the simplest way to get more referrals.

In fact, I’ve already done it.

I asked you to “tell your lawyer friends about me” and mentioned my website. And that’s all you need to do.

When a client is in the office, at the end of the appointment say, “Tell your friends about us,” and hand them some business cards.

Could getting referrals really be that simple? Of course. But if you want to complicate it a bit, you could make your request a question: “Would you tell your friends about us?” When they answer that they will, as you may already know, it makes it more likely that they will do it.

Could you do this on the phone. Why not? Could you do it in an email or mention it in a blog post?

Sure. Like I just did.

Want more? Get Maximum Referrals

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Filed Under: Referrals

Too hot, too cold, or just right?

April 7, 2016 by
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If you give prospective clients too many options for hiring you, you risk confusing them, and a confused mind usually says no.

If you only give them one option, however–hire you or don’t–you may lose them for other reasons.

The objective is to find a balance between too many  options and not enough.

Take a look at each of the services you offer. Are there too many choices? Are you confusing them with variables, add-ons, upgrades, and optional services that make it difficult to choose?

If so, look for ways to simply those options. Aim for clarity. Make it easier for them to decide.

If you don’t offer any options, however, if you give them a choice between “A” or “nothing,” look for ways to provide them with a second option. Something that adds value without adding confusion.

Let them choose “A” or “B” because whichever one they choose allows them to get the benefits they seek, and allows you to get a new client.

Sometimes, a third option is warranted. Should you offer it as option “C” along with the first two options? Should you hold back and offer it later? Or should you include it as a free bonus for choosing your higher priced package?

The answer is: I don’t know. And neither do you.

You could look at what other lawyers offer. You could conduct surveys and see which option prospective clients say is the most attractive. You could “go with your gut”. But the only way you’ll know for sure is to offer different options it to prospective clients and see how many sign up.

If you’re still not sure, start with two options. Price the second option higher than the first, but not a multiple of the first. $3,000 and $4,000, but not $3,000 and $10,000.

If you charge by the hour and you don’t offer any flat fees or packages, look for ways that you could do that because more clients will sign up when they know in advance how much it’s going to cost.

Master the art of successful billing and Get the Check

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Filed Under: Attorneys fees, Closing the sale, Fees and Billing, Law office management

A simple plan for quickly bringing in new clients

April 6, 2016 by
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There are lots of ways to bring in new clients. Referrals, writing, speaking, networking, and other “reaching out” methods all work. But nothing is quicker than advertising.

Done right, an ad can pull in new clients within minutes after it appears.

Not only that, in the online world especially, advertising gives you unprecedented control over your message–where it appears, how often it runs, and who sees it.

You can test different headlines, copy, and offers, to find out what works best. You can start out with inexpensive PPC and classified ads, and when your ads are working, increase your budget to maximize your return.

Maybe you don’t like the idea of advertising. I understand. But don’t hang up the phone until you hear what I propose., because what I propose could be your ticket to quickly growing your practice.

Many lawyers who reject the idea of advertising do so because they think it’s unprofessional or inconsistent with the image they want to portray. Or they believe it “won’t work” for their type of practice or their target market.

I’m not going to debate any of that right now. Instead, I’m going to propose a different idea.

Instead of advertising your firm or your services, what if you advertised a book or a report?

The spotlight wouldn’t be on you, it would be on the report.

Many attorneys write books and other information-based “products”. What’s wrong with advertising them, either for sale or as a free giveaway?

Nothing. Nothing is wrong with that.

Okay, so you have to write a book or report. But you could do that in a weekend.

“The 30 Day Referral Blitz” shows you everything you need to know to quickly write a “Special Report” you can advertise, and use for other marketing purposes.

You could also hire someone to write the report, or help you write it, but don’t overthink this. If you can pass the bar exam, you can write a report that prospective clients will want to read.

Once your report is written, you advertise it and give it to prospects who visit your website (or a separate website dedicated to the report, if you want) in return for signing up on your email list. Your website can handle the sign-ups and delivering your report, automatically.

Then what?

Your report provides your prospective clients with valuable information on a subject that interests them. It also shows them how you can help them. If they like what they see, and they’re ready to hire an attorney, you’ll probably get the call.

And this can happen immediately. Some prospects will request your report, see what you do, and call you even before they read the report.

Others will read the report, follow links to your (other) website where they can learn more, and then hire you.

Some won’t be ready to hire you, but they’ll be on your email list and you can send them additional information about what you do and how you can help them. When they’re ready to hire an attorney, there you will be–in their minds and their (e)mail boxes.

It doesn’t get simpler–or quicker–than that.

The 30 Day Referral Blitz shows you how to write and deliver your report

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Filed Under: Advertising, Email, List building, Marketing legal services, Online Marketing

Another way your clients can help your practice grow

April 5, 2016 by
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Will you be seeing any clients today? This week? Good. When you’re done with your meeting, ask them if they can help you out with something and tell them it will only take 15 minutes.

When they ask what you have in mind, tell them you want to ask them a few questions about their experience with you and your office.

When they agree, ask them if it would be okay if you record the conversation. And then, do a brief interview.

Ask some basic questions about why they needed a lawyer, how they found you, and what you did for them. Ask about:

  • Their background/occupation
  • The legal issue or objective that prompted them to seek legal help
  • How they found you (referral, search, other)
  • If they saw your website, what did they read, what did they like?
  • Did they talk to other lawyers before they decided to hire you?
  • Why did they choose you?
  • What did you do for them/how did you help them?
  • What did they like best about having you as their lawyer?
  • Is there anything they think you need to improve? Anything you don’t do but should?
  • Would they recommend you? What would they say about you?

And so on. You’ll think of other questions, and they’ll volunteer statements about their experience with you and your firm.

At the end of the interview, ask them if it would be okay to post their comments on your website or put them in your newsletter. Ask them if you could use their name. You might also ask for a head shot photo, or take one on the spot.

Have the interview transcribed. You might use the transcript in it’s entirety, or lift quotes from it and use them in a “client profile”.

There are several benefits to doing this:

  • It’s an easy source of content for your blog or newsletter
  • You’ll get lots of readership. Your other clients and prospective clients like to see what others say about their experience with you
  • The interviewed client will “sell” readers on hiring you, so you don’t have to.
  • Their positive comments help your other clients feel good about their decision to hire you
  • The interviewee may share your post with their friends and followers, bringing you more traffic and more clients (indirect referrals)
  • If your client owns a business, this is a simple way for you to promote that business; they’ll also be likely to share your post
  • You’ll get feedback about what you’re doing right, and ideas you can use to add value

Go ahead, give this a try. Your clients will be flattered that you want to interview them. And once you see how easy this is, you’ll want to do it again.

Could you interview one client per month? Of course you could. If you do, and you write a weekly blog post or article, one-quarter of your monthly content will be taken care of.

More ways to get your clients to provide referrals

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Filed Under: Marketing legal services, Web traffic Tagged With: , , ,

This week’s marketing challenge: make a new business contact

April 4, 2016 by
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This week’s marketing challenge is to make a new business contact. Meet another lawyer or other professional in your community or target market.

All you need to do is introduce yourself, get their “details” (what they do, their contact information) and give them yours.

I’ll make it easy for you. You can “meet” them via email or on the phone. (Phone is better, for many reasons, but email is a place to start).

Okay, but where do you find them, and what do you say?

You find them anywhere. Grab a phone book, bar directory, or go online and search.

What do you say? You tell them your name, what you do, and where you’re located.  Then tell them where you found them: I found your name in the Chicago Bar Association member directory. I found your website. I saw your ad, read an article you wrote, saw your picture in the paper.

For good measure, say something nice about them: I like your website, I liked your article, I was impressed by your story.

Next, tell them why you’re contacting them.

“I thought I’d find out more about what you do, tell you a bit about what I do, and see if there’s a way we might be able to work together [help each other]”.

Simple. Honest. Straightforward.

If your first contact is via email instead of the phone, use that email to invite them to speak with you on the phone or meet you for coffee. You need to talk to them, even if it’s just for a few minutes.

When you speak, ask them about their specialty or what kinds of clients or customers they target. To get things started, or keep the conversation going, you might ask, “How long have you been doing that?” or “How did you get started?”

You want them to open up and tell you about themselves. Your turn will come later.

If things go well, ask them what they do to bring in new clients. Do they advertise? Network? Blog? Do they have a newsletter? Do they do webinars? If they’re good at marketing, they might be able to send you a lot of referrals.

Exchange contact information. Tell them you’ll send them some information about what you do or your new report, and then follow-up. If things go well, before you end the conversation, you might schedule another time to talk or to meet for lunch.

And that’s how it’s done. And that’s your challenge for the week.

Learn more on what to say and what to send them: click here

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Filed Under: Referrals
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