Slaying the perfectionism dragon

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A short article on the Entrepreneur.com website caught my attention. In “Start Before You’re Ready, Really,” the author urges us to launch our new business, project or idea before we are, or it is ready.

You can set up a quick Facebook page instead of a website, or a simple (ugly) web page just to get something “out there”. Run the idea up the digital flagpole and see who salutes it.

The author started her new business with just one strategic alliance partner (referral source), who sent her enough business to help her get her business off the ground. Had she waited until she had ten or twelve referral sources, she may still be waiting.

No matter what you do, you can improve it later. Even if you do wait before you launch, there will always be things to improve. So why wait?

Get something out there now and fix or improve it later.

I salute this idea. Hard as it is to show your ideas before they are fully formed, edited, vetted, and groomed, you must. If you wait, you’ll never be ready. In your lifetime, you will produce only a fraction of what you could.

I’ve done this many times. I’ve put up terrible web pages. Announced businesses and books when they were merely ideas. Advertised courses before I was finished writing them.

Some of my best stuff came because I put it out for the world to see before I was ready. Turns out, they were closer to being ready than I had thought. What’s a few typos among friends?

There’s nothing like a deadline to get you crackin’. Once you announce or launch or publish, you’ve got a deadline. You’re committed. You’ve got to finish it, or fix it, and you do.

The alternative is to pay homage to your perfectionism and wait until everything is right. That’s how so many people die with their music in them.

The most important part of any project is getting started. Whatever it is you want to do, do it. Give yourself permission to do it badly. You can fix it later. You can make it better. Or you can cancel it start something else.

There is greatness in you. Slay the dragon and let your ideas soar.

For a simple marketing plan that really works, get this

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“Recruit and Grow Rich” ebook just released on Kindle

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How many ways can a lawyer create passive income? I’ll give you a minute. . .

The answer is not many. That’s the conclusion I came to over a decade ago when I was contemplating the concept of retirement. I realized that I would have to save or invest several million dollars to be able to retire and live off the interest or cash flow that those assets produced, and I knew that wasn’t going to happen.

Even if you earn hundreds of thousands of dollars every year, after taxes and expenses, most attorneys aren’t going to arrive at their retirement years with a big bucket of cash or a steady stream of cash flow.

When I admitted this to myself, I knew I had to find a plan b.

I started a network marketing business and began earning passive income. That income grew to over six-figures a year, which provided me with the retirement income I sought but had never achieved in over twenty years of practicing law.

I’ve written a book about it and it’s now available on Kindle.

It’s part “my story” but it is mostly training. It presents the system I’ve used to recruit hundreds of people (mostly lawyers) who wanted the same thing I wanted. It’s called “Recruit and Grow Rich” and it shows you how to work smarter in your network marketing business, instead of merely working harder.

If you have a network marketing business, or you have been thinking about starting one, this book could shave years off of your learning curve, and help you achieve your goals quicker and with less effort.

The first review came in, from an attorney, who said, “This book is an absolute must read for any attorney considering a network marketing opportunity.” He also said, “Building a network organization is counter-intuitive to the way attorneys have been taught to think and act.” He’s right.

Of course you don’t need to be an attorney to benefit from the lessons in this book. So if you know anyone who has a network marketing business, tell them about it.

Here’s the direct link to the book in the kindle store where you can get more information.

NB: You don’t need to own a Kindle device to read Kindle books. Amazon has free apps that allow you to read Kindle books on your computer, tablet or phone.

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How will you increase your income next month?

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So next month will be better than this month? You’re going to bring in new business or bigger cases and your income will increase?

How? What’s your plan? What will you do to make that happen? Because these things don’t just happen by themselves.

What will you do this month that will bring in more business or increase your income next month?

Be specific.

What emails or letters will you send? Who will you send them to? What will you ask or offer?

What will you do to build your list? Get more traffic? Get more website visitors to call?

How will you get more referrals from existing clients? Former clients? Prospective clients and other contacts?

What new markets will you target? What services will you offer? What will you say to convince them to trust you and hire you?

How will you get more referral sources? What is their background? Where will you find them? How will you approach them?

What articles or blog posts will you write? Who will you offer a guest post to? Who will you ask to do a guest post for you?

Where will you speak this month? What seminars, webinars, or teleconferences will you conduct? What videos will you post?

How will you increase your social media followers? Stimulate engagement? Provide more value?

How will you get more prospective clients to make an appointment? How will close them? Get them to hire you for bigger engagements?

What will you do to collect money that is owed you? How will modify your billing practices to get more clients to pay on time? What changes will you make to your fee structure?

Will you start advertising? Increase your ad buys? Hire a new copy writer?

What will you do to lower your overhead? What can you do about rent, salaries, or other fixed costs? How can you get better deals on variable expenses?

I’m all for being optimistic. But thinking next month will be better without having a plan to make it better is not the way to run a business. Go through the above questions and write down three things you will do this month. Then, start doing them.

Want some help?

Okay, for a simple marketing plan, get this.

For help with your website and online marketing, get this.

For help with writing and referrals, this is what you need.

And if your billing and collection practices need a shot in the arm, run, don’t walk and get this.

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How to get more referrals by getting more referral sources

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Every attorney wants to know how to get more referrals. One way to do that is to get more referral sources. Here’s a simple way to do exactly that:

(1) FIND THEM. Find five people who advise or sell to your target market. Other professionals, business owners, and so on. You can ask existing clients and contacts for recommendations, or just find them on the Internet. Zero in on those who have high-ranking websites, decent content, a large social media following, and a newsletter or email list.

(2) STUDY THEM. Read through their site. Subscribe to their newsletter. Follow them on social media. See who they know (e.g., professionals, clients, centers of influence), what they sell, and how they sell it (sales people, online, seminars, speaking, writing, advertising, videos, affiliates, etc.) You’re especially looking for those who are active marketers.

Read their About page and social media profiles. Find a few articles or posts you like. Follow some links and see who influences them. Look through their blog comments and social streams to see who they influence.

(3) CONTACT THEM. Send an email, introduce yourself, and compliment one or two of their articles, their products or services, or something about how they do their marketing. Mention what you do, but only mention it. If you have mutual contacts, or like or follow the same resources, mention that, too. Don’t subscribe them to your newsletter without their permission.

(4) ENGAGE THEM. Contact them again and propose a guest post on their site, and/or, suggest the same for your site. Send them a link to a resource you found, or something you wrote, that pertains to what they do. Ask them a question about something they do or something they’ve written. Share their posts and tweets on social.

(5) HELP THEM. See who responds. Learn more about them. Look for ways to work with them, promote their business or practice. Send them referrals. Introduce them to others in their niche who can help them. Promote their blog, their business or practice, their product or event on social and to your list. If they are local, invite them for coffee and get to know them better.

Is this a lot of work? You tell me. If one out of five respond favorably, and you do this every month, in six months you will have six new referral sources. If each sends only one new client per month, would that be worth the effort? What if they send three?

Marketing is easy when you know The Formula

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The quickest way to grow your law practice

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We’ve been talking about social media marketing lately. If you embrace it, and it’s working for you, I’m all for it. But there are two things you need to know.

First, social media may do everything it’s supposed to do for you, i.e., build your list, improve your reputation, bring you leads and clients, but it usually won’t do it quickly. It can take months or years to bring in meaningful results.

Second, you have no control over what happens. Yes, you can see that you’re getting more results on Twitter than LinkedIn and direct more energy to Twitter (and if that’s what’s happening, you should), but whatever is going to happen on a given platform, or all platforms, is going to happen. You can’t make it do more or do it faster.

The same is true of other marketing techniques lawyers typically use–networking, articles, speaking, blogging, publicity, and referral marketing. They all work, but slowly, and you have very little control.

True, you might get lucky. You might meet and sign a huge client at a networking or speaking event. Your blog post may get noticed and linked to by a major publication, sending you a swarm of traffic. And while these things do happen, they are unpredictable. They may happen next month, five years from now, or never.

One marketing technique is different. It gives you tremendous control. You can try it on a small scale and if works, leverage your results into sequentially bigger results with nearly scientific accuracy.

You can also get results much quicker. In fact, I know of no quicker way to bring in business.

Oh, and there’s another advantage: you don’t need to spend time on this marketing technique. You can just write a check.

By now you may have figured out that I’m talking about paid advertising. But I’m not talking about any kind of advertising, I’m talking about direct response advertising.

Most attorneys who advertise don’t use direct response. They use “general awareness” or “branding” style ads, and they are often a giant cash sinkhole. They might work just enough to keep running them (e.g., yellow pages), but not enough to make a difference in your bottom line.

Plus, there’s almost no control. You can ask new clients, “where did you see our ad?” (and you should), but this doesn’t give you the degree of control I’m talking about.

Direct response advertising is different. You include a response mechanism in the ad (call this number, fill out this form) and measure the response. If you get enough response, if the ad is profitable, you run it again. If it continues to pull in sufficient response, you continue to run it, and in more publications or websites.

So, you start with a small, inexpensive ad. If it works you buy more ads, and perhaps bigger ads, and you continue your campaign. If the ad isn’t profitable, you pull it and try something else.

You don’t risk big money unless and until you know you have something that’s working. And then you test some of the variables (e.g., headline, offer, list, copy) to see if you can make it work even better.

Lead generation ads are direct response, and often work better than “one step” advertising (i.e., “Call for an appointment”). In a lead generation ad you offer something other than your services, in order to get people to identify themselves to you so you can add them to a list. You might offer a free report, a book, a “planning kit,” a checklist or a set of forms. The quality of your free information “sells” the recipient on hiring you.

Instead of giving away your book or kit, you could sell it. Everyone who buys your book or paid seminar is likely to be an even better prospect for your services, and their purchases help you pay for your advertising and fulfillment.

Advertising isn’t easy. It requires expertise and some money to start. But unless you are precluded from doing so (by your bar or firm), if you want to grow your law practice quickly, I suggest you consider adding direct response advertising to your marketing mix.

Because there’s no faster way to grow your law practice.

If you’re getting started in marketing, start with this.

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How to profit from rampant unemployment

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92,009,000 Americans aren’t working. That’s a lot of people who can’t afford to hire you.

What can you do to protect yourself? How can you profit (there, I said it) from everyone else’s misfortune?

I jotted down a few ideas. They may be obvious, but just because people know something doesn’t mean they’re doing it. And let’s face it, lawyers are very slow to change (anything), so there’s a good chance you may not be doing the obvious, or if you are, not doing it enough.

  1. You might be tempted to target lower “income” clients. Don’t do it. Do the opposite. Re-focus your efforts on higher income clients. Yes, there are fewer of them. But they can afford to hire you. What good is having millions of people who need you if they can’t hire you?
  2. Target industries and market sectors that are growing. For example, companies that sell to the Feds, and the people who work for them. And the companies that sell to these companies. And the professionals who advise these companies and the people who work for them.
  3. Consider adding or switching practice areas. I read one report that said half of the country is having trouble paying their mortgage and rent. Does this mean you should take up bankruptcy, foreclosure, unlawful detainer, and the like? It means you should take a look at them.
  4. Get set up to accept credit cards, PayPal, and other payment systems. Give clients alternative ways to pay you. (Bitcoin? Barter? Tulips? No comment.)
  5. Put more resources into marketing. I’ll bet you were expecting me to say that. But hey, with a glut of lawyers competing for fewer clients, you’ve got to step up your game. Review your website. Consider more “reaching out” methods than you usually use. Work on your interpersonal skills. Do some joint venture marketing. Learn how to sell.

I guess I could add, “considering moving”. Some parts of the country are doing much better than others. This may seem extreme, but in view of where we are today, nothing should be ruled out.

Review (or create) your marketing plan. This will help.

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

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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.

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Contingency plans

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What would you do if you suddenly discovered you could no longer practice law? Don’t scoff. Many physicians are leaving medicine right now and many others are reconsidering their future.

You have to have contingency plans.

You might get sick or injured and find that you can no longer practice. What will you do?

You might find that market forces have made your practice area unprofitable. (You can now purchase legal services at Walmart in Ontario, Canada. What’s next?)

You might get laid off tomorrow and not be able to find another job at the same pay level.

You might find that you are no longer passionate about practicing law and need to find something else.

What will you do?

Last weekend, the service provider that delivers my emails was shut down by a major DDOS attack. It looks like they’re back online and you should now be caught up with Monday’s and Tuesday’s posts (I took yesterday off).

But what if they went down for good?

It would be a big inconvenience, but it wouldn’t put me out of business. I have contingency plans. My income doesn’t depend solely on my attorney marketing business. If I lose one source of income, I have others.

How about you? What do you do, or what could you do, to bring in other sources of income? Start a business? Write? Consult?

And then there’s the subject of retirement. I started another business because I knew that I was not putting away enough income for retirement. My business now provides me with passive income and I could retire at any time.

I didn’t do this because I’m super smart or responsible. I did it because I was scared. The thought of being too old to work, or not wanting to work but having to do it to pay the bills, scared the hell out of me.

Take some time to think about your future. Create a Plan B and maybe even a Plan C.

The Attorney Marketing Formula comes with a free marketing plan. Go here.

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Why you should offer multiple versions of your legal services

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If you only offer one version of your services, you may be losing business and short-changing your income.

Think about it, when a prospective client thinks the fee you quoted is more than he wants to spend, he has two choices: hire you or go away. One of those choices is bad for both of you. If you offer two versions, however, the client might choose the lower cost version. They’ll get some of what they need now, they can get more later, and you get a client.

When I was selling my big ticket referral marketing course a few years back, I offered Basic and Deluxe versions. The Deluxe version offered more information and more help (consulting). Most lawyers chose the Deluxe package, which meant I got more customers and earned more on the average sale.

You want prospective clients to think “which package should I get?” instead of “should I get this?” In marketing, it’s called “alternative choice”. It’s used extensively  in direct response.  And sales people use it to set appointments: “could I come out tomorrow or would some time next week work better?”

If you currently offer a menu of different services, see if you can combine some of them into bigger packages. You’ll make it easier for clients to choose, because they will have fewer options, and you’ll earn more for the same work.

If you charge by the hour, see if you can break off some of what you do, package it, and offer it for a flat fee.

And, if you currently offer a package of legal services for one set fee, see if you could break up that package into two or three separate packages. You can charge more for each package separately, or offer a lower price if they sign up for both (or all three). Not only will you get more first time clients, you’ll also earn more for each component of your work.

Learn more about packaging your services. Click here.

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Why some attorneys earn more than you do

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With my CLE compliance deadline approaching (I finshed, thanks for asking), I’m being inundated with emails offering all manor of courses. I noticed that some companies charge much more than others. In fact, prices are all over the place. I could get all 25 credits for $299 or for $60. Are one company’s courses five times better than another’s? Probably not.

So why would attorneys pay more for something they could easily get for less?

Because some companies are well known to them and have good reputations. Lawyers will order from a familiar company because it’s safe. They don’t need to check them out. Click, order, done. They may realize they are paying more but the convenience and peace of mind are worth it.

I’m sure some attorneys equate a higher price with higher quality. They assume that by paying more they’re getting better courses. Or conversely, that if they pay a low price they will get inferior quality.

Other attorneys simply don’t want to take the time to shop around. They’re busy.

Still others never considered looking at anything else. They simply order from the company they ordered from the last time. They are a satisfied customer. When they get an email from “their company,” they just order.

Make sense?

Well guess what? The same things are true for buying legal services. People will pay more to hire an attorney who is well known to them or who comes through a referral. They will pay more to attorneys who make it easy and convenient to hire them. They will pay more because they believe they are getting more value than they would get from a “cheaper” attorney.

Yes, some clients shop price. You don’t want them. You want the low-hanging fruit, the clients who are willing to pay more for intangibles that are important to them.

And that’s why some attorneys earn more than you do for the same services.

Want to get paid more? Get the Check: Stress-Free Legal Billing and Collection shows you how.

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