Do you offer the iPad of legal services?

February 8, 2013 by
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I was reading an article on why the iPad beats Android tablets. The author concluded thusly (I love that word, don’t you?), “Having reviewed the options, the reason for Apple’s continued dominance in the tablet market seems clear – it makes the best product. It also makes the most expensive product, but that doesn’t seem to deter consumers, who continue to buy the iPad in droves.”

The article points out that there is and will be a big market for Android, and many people prefer that platform for reasons other than lower price.

Something for everyone.

Now, how do your legal services compare? Do you offer iPad-ish services–high quality and high price–or Android-ish–lower quality and lower price?

You can make money in either category, but not both.

Many attorneys lean towards the lower end of the market. I suggest you resist the temptation.

Set your fees at Apple levels. High end. Then, make sure you’re worth it.

Higher margins provide huge benefits:

  • You get better clients. Yes, more demanding (like Apple’s), but better in every other sense
  • You don’t need as many clients; you can take your time and turn out a better work product
  • You can hire better talent and delegate what you don’t enjoy
  • You have a marketing budget so you can expand and grow
  • You earn more profit and enjoy a better life style.

Delivering high quality legal services does cost more. A nicer office, the best employees, a higher level of “customer service” all come at a price. But it’s not how much you spend that counts, it’s how much you earn.

The Attorney Marketing Formula shows you the six keys to earning more without working more. Click here.

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Filed Under: Attorneys fees, Fees and Billing, Increase your income, Law office management Tagged With:

Building your marketing investment account one day at a time

January 28, 2013 by
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Aristotle said, “We are what we repeatedly do. Excellence, then, is not an act, but a habit.”

Is marketing a habit for you?

You’ll often hear me say that you can build your practice with 15 minutes a day of marketing activity. Anybody can find 15 minutes today, but most don’t do it every day because it isn’t a habit. Unfortunately, it won’t become a habit until you do it every day.

Catch 22.

But then nothing starts out as a habit. Everything starts out as “the first time”. And then you do it again. Now you’re two days into it. One more day and you’re on your way. Keep going and it will become a habit, especially once you see some positive results.

Leo at Zen Habits has an excellent article today on building habits. He uses the analogy of saving and investing money, i.e., putting away a little bit every day. Over time, the dollars compound.

If you want to (or need to) write, for example, but have not been able to make it a habit, he says:

“. . .just write a sentence today. I’m completely serious. Then write a sentence tomorrow. Do that for a week. Next week, write two sentences. This sound ridiculously easy, so most people will ignore this advice. But if you follow it, you’ll be writing 1,000 words per day, every day, this time next year. Maybe 2,000 per day the following year.”

In the context of marketing, then, if you have not developed the habit of doing something every day for 15 minutes, start with one minute. Read something, write down an idea or two, or just sit and think. That will get you started.

The other thing about habits is that we have to be reminded to do them. “Set a daily reminder. . . and make it a priority to do each day,” Leo says. I take it a step further, suggesting you making a daily appointment with yourself and put this on your calendar. Then, keep that appointment. If a new clients wants to see you at 2 and that’s your marketing time, you must tell them you have an appointment and can’t see them until 2:15.

Yes, we are what we repeatedly do. Today, you may be in the habit of NOT marketing. You’re excellent at not marketing, in fact. But today, you can start a new habit. All you need is one minute.

Want something to read during your marketing minute? Try this.

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Filed Under: Increase your income, Marketing legal services, Personal development, Productivity, Time Management Tagged With:

How to get more clients to sign up when you quote your fees

January 24, 2013 by
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I’m listening to Spotify as I write this. The ’70’s station. Elvin Bishop, Paul Simon, Elton John, Al Stewart, Seals & Crofts, America, Earth, Wind & Fire. . .

How cool is that?

I “liked” every single song so far and now they’re in my playlist.

So much music, so little time.

Anyway, I wanted to share something with you that I think will make your day. Or your week. Maybe even your year.

Our microwave died two days ago. It’s amazing how much we use that thing. Boiling water on the stove is so 1970’s.

Anyway, my wife goes online and starts pricing replacements. We’ve had this one for 18 years so it wasn’t that simple. It has to fit in the space above our range and match the oven.

She finds one that works and gives me the price. Holy crap! “It’s a microwave, not a car!” I was overhead saying.

She took that to mean, “keep looking,” and she did. Sure enough, she finds one that has everything we need, fits in the space, and is 40% cheaper than the first one.

“Order it!” I said. And she did. It will be installed tomorrow.

Now, here’s the thing. If she had first come to me with the price on the one we ordered, knowing how I am, I still would have thought it was too high. But because she showed it to me second, it looked like a bargain.

I don’t know if it IS a bargain. I just know I was happy to order at the lower price. “Look at how much we saved. . .”.

Anyway, this reminded me to remind you about pricing your services.

If possible, you should put together a lower priced version of your services to offer prospective clients. If the deluxe package is ,000, and the basic package is ,500, you can show them both and let them choose. If ,000 is “too much,” they can choose the basic version. Instead of “no sale” you get a ,500 sale, and a new client. The client gets his basic needs met and could possibly upgrade later.

Or, show him the ,000 package first. If he objects, (“It’s a legal document, not a car!”) you can show them the ,500 package. It may not have all the bells and whistles but it does the job. In comparison to what he thought he had to pay, it will seem like a bargain.

You’ll get more prospects saying “sign me up,” instead of “I have to think about it.”

Get the Attorney Marketing Formula and find out how to earn more. Click here for details.

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Filed Under: Fees and Billing, Handling objections, Increase your income, Marketing legal services, Salesmanship

I wouldn’t fire this guy, I’d promote him

January 17, 2013 by
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In school, if you paid someone to write your paper or take your test, you got in trouble. A big F. “No soup for you!”

So naturally, when you get a job and you pay someone else to do the work for you, you should also get in trouble, right? Fired on the spot!

Not so fast.

Isn’t that what we call “business”? Don’t we do this in a law practice?

We have customers or clients who pay us but our employees do a lot of the work. Maybe most of the work, if you look at the hours. And our clients don’t care, as long as the work gets done and is of sufficient quality.

That’s how we earn a profit. We’re “working smart”. We have leverage.

So, let me ask you, if you found one of your employees was outsourcing his work, what would you do? If he hired someone else to do the work and earned a profit on the difference between what you paid him and what he paid to get the work done, would you have a problem with that?

Assuming the work was high quality and no confidential information was shared, of course.

A software developer at Verizon was just discovered doing this very thing. He earned six-figures in his job and paid a Chinese firm ,000 to do the work. He spent his day surfing the web, playing games, and posting on Facebook.

When his employer found out, they fired him.

Me? I would have given him a raise and a promotion.

The work done by the Chinese firm was considered first rate. Praised for it’s quality, in fact. And always on time. The fact that someone else did it is irrelevant.

The man was lazy but very clever. He should be praised for his cleverness, not punished for it.

During World War II, a brilliant German military strategist described his criteria for managing personnel:

“I divide my officers into four groups. There are clever, diligent, stupid, and lazy officers. Usually two characteristics are combined. Some are clever and diligent — their place is the General Staff. The next lot are stupid and lazy — they make up 90 percent of every army and are suited to routine duties. Anyone who is both clever and lazy is qualified for the highest leadership duties, because he possesses the intellectual clarity and the composure necessary for difficult decisions. One must beware of anyone who is stupid and diligent — he must not be entrusted with any responsibility because he will always cause only mischief.”

The author (there is some question as to which of two men actually said it) thought that someone who is “clever and lazy” is qualified for the highest leadership duties, “because he possessed the clarity and composure necessary for difficult decisions.” They are “natural delegators,” always looking for simpler, easier ways to do things. They “focus on essentials, and despise ‘busywork’.”

If the developer at Verizon worked for me, I’d slap him on the back and ask him to show me other ways I could get a six-figure job done for only $50,000.

But no, his boss was probably embarrassed by what he did. “Clever and diligent,” no doubt, and had to fire him.

All our lives, we’ve been told that laziness is a sin. We’re punished for it in school and on the job. We’re told that hard work is a virtue. But it’s not true. Hard work, for the sake of working hard, is the sin. If there’s an easier way to do something and we ignore it, we squander God’s gift of time.

You owe it to yourself, your family, your employees, and your God, to find the easier way, the better way, the more leveraged way to get things done. You’ll earn more and have plenty of time to play games and post on Facebook.

Leveraging time is one of the six keys in The Attorney Marketing Formula

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Filed Under: Increase your income, Law office management, Leverage Tagged With: ,

Are you planning to make any changes this year? Before you do. . .

January 16, 2013 by
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So this year I’m planning to make some changes. How about you?

I’m looking at things that didn’t work well and eliminating them or looking for ways to make them better. I’ll get more information, ask for help, or try things a different way.

But I’m not going to spend a lot of time on that. No sir. Instead, I’m going to look at the things that did work and do more of them.

You should, too.

For example, if last year you got a lot of referrals from a letter you sent to your clients, maybe you should think about sending them another letter. If you got a lot of sign-ups for your newsletter when you added a couple of videos to your web site, you should probably think about adding more videos. Or, if you met some good new referral sources on LinkedIn but none on Facebook, it sounds like LinkedIn is where you should spend your time.

Most people focus on fixing what’s wrong. They work on their weaknesses. The smarter, more leveraged strategy is to work on your strengths.

Don’t ignore your weaknesses. But don’t spend a lot of time on them.

Homework:

Take a few minutes and write down three things that worked well in your practice last year. Then, look for ways to do them again or do them bigger or better or more often.

Find the spark in your practice and pour gasoline on it.

Have you read The Attorney Marketing Formula? Click here to find out what you’re missing

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Filed Under: Increase your income, Law office management, Leverage, Marketing legal services, Marketing Plan, Productivity Tagged With: ,

Private Coaching For Lawyers (New Year Special)

January 3, 2013 by
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Would you like some help getting the new year off to a good start? If so, I have a special offer for you.

It’s a private strategy session with me. You and I, on the phone, discussing your practice, your goals, and your marketing.

What will talk about? Well, what do you need help with most?

  • Your web site or blog (or how to start one)?
  • Choosing the right market(s)?
  • Setting goals? Clarifying priorities?
  • Networking, advertising, social media, speaking?
  • Building your list? Getting more traffic?
  • Getting more referrals?

During the call we will review what you are doing now, where you want to be this time next year, and how you are going to get there.

You can ask me anything. And if you don’t know what to ask, I’ll ask you questions and give you my advice.

Here’s the deal. . .

These sessions are normally $500 each.

As a special for the start of 2013, I’m offering a very limited number of “New Year strategy sessions” for the discounted price of $250 per session.

I’m limiting the number because (a) I expect there to be a boatload of interest right after the new year, and (b) I have many thousands of subscribers and limited time.

If you want to grab a slot, here’s what to do:

  1. Book your private strategy session by clicking here
  2. Email me with your contact information and let me know you paid to lock in a slot for one of these sessions.

I’ll email you back to confirm and to set up our call.

I look forward to helping you make 2013 your best year ever.

If you want to learn how to create a marketing plan that really works, click here.

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Filed Under: Goal Setting, Increase your income, Marketing legal services, Marketing Plan, News Tagged With:

How I made an extra fifty-two cents in 2012

December 31, 2012 by
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Yee-ha!

Amazon just notified me that I earned fifty-two cents when someone purchased something through my affiliate link. Big deal you say? You’re darn right it’s a big deal! Passive income is a very big deal.

I don’t get much from Amazon. That’s okay. I get thousands in passive income every month from other sources. It all averages out to a very sizable “extra” income.

I’m not a big affiliate marketer. You don’t see tons of links to affiliate products in my blog posts or emails. That’s because I’m very picky about what I recommend. It’s usually something I personally use.

All you need are a few high quality products or services (and a good list) and you can earn a decent extra income this way. Even six-figures.

Why am I telling you this? Because as you contemplate your plans and goals for 2013, one of the things you should be thinking about is how you can generate income from sources other than your legal services. You might create your own products. Or offer services outside of your core practice areas. Partner up with someone and offer their products or services. Or start your own business.

The simplest way to get started is to look at the products and services you have used in the past and could recommend to your list. If you think they’re good, why wouldn’t you recommend them to your clients, prospects and professional contacts? Regardless of whether they have an affiliate program or not.

I have an affiliate program for some of my products. I haven’t promoted it because I wanted to add more products first, which I will be doing shortly, but you can sign up now and promote The Attorney Marketing Formula and my Evernote ebook. Here’s the page to get more info on my affiliate program and instructions on how to sign up.

If you like my stuff, I will pay you to recommend it to your attorney friends. Post a link on your blog, mention it in your newsletter, or post a review on one of your linkedin or facebook groups.

Anyway, over the next few days, give some thought as to how you might add additional sources of income in the coming year. I’ll have more ideas to share in future posts.

By the way, The Attorney Marketing Formula comes with a free bonus module, “How to create a marketing plan that really works”. It will help you plan for 2013.

I wish you a very happy, and very prosperous New Year.

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Filed Under: Increase your income Tagged With: , ,

The problem with multiple streams of income

November 27, 2012 by
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Smart people often counsel us to diversify our investments. “Don’t put all your eggs in one basket,” they say. From an investment standpoint they’re probably right. If all your money is in gold or oil futures or a single stock and the market turns south, your losses could be catastrophic. But diversification has a dangerous side.

If you are building a law practice, buying a restaurant or another business that requires your time and mental energy is usually not a good idea. Buy (or start) another business only after your practice is at a point where you can devote some time to the business. Donald Trump made several fortunes in real estate before he branched out into other businesses. Donald Sterling made a bundle as a personal injury attorney before he turned to real estate and only years later to buying sports franchises.

Most people who try to build two businesses simultaneously usually fail to achieve great success in either. Perhaps that’s why Mark Twain said, “Put all of your eggs in one basket and then watch that basket.”

Yes, I started my attorney marketing business while I was still practicing. It was the kind of business that only required a few hours a week at first, to see if I could make a go of it. Once I did, I began shutting down my practice as I ramped up the new business. After a couple of years, the marketing business was running smoothly. I had competent staff who were taking care of the day-to-day operations and the demands on my time were minimal. At that point, I started another business. Again, just a few hours a week at first.

Today, I own two successful businesses. I would never have been successful in my practice or businesses had I tried to build them at the same time.

Okay, you get this. You wouldn’t lose focus and try to build two businesses simultaneously. But a lot of attorneys do exactly that and they don’t even know it.

When you try to build a family law practice, for example, and you also handle personal injury, you’re building two businesses simultaneously. Each practice area is different. Each has it’s own rhythm and culture. Referral sources are different. The judges are different. Marketing is different.

Some practice areas compliment each other. Many don’t. Put all your eggs in one basket and let the world know that you have the finest eggs available.

If you want help in choosing the right basket, get The Attorney Marketing Formula.

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Filed Under: Increase your income, Law office management, Leverage, Marketing legal services, Specializing

Would you hire you?

November 16, 2012 by
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If I was interviewing you for a job working for my law firm, one thing I would evaluate is your attitude. What would I see in you?

Is it:

  1. “I’ll try.” Hmm, not too promising. It’s better than, “I won’t try,” but not much. Was this your attitude when you enrolled in law school? How about when you got married? Sorry, I’m looking for someone with a stronger commitment to success.
  2. “I’ll do my best.” Ah, much better. But what if your best isn’t good enough? Will you put your ego aside and ask for help? Will you work hard to improve your skills? Will you make your best even better?
  3. “I’ll do whatever it takes.” Now that’s the attitude I’m looking for. It tells me you’ll work hard, stay late and come in early. You’ll do what is expected of you and a lot more. You won’t let obstacles get in your way, you’ll overcome them. I can count on you to do the job and stick around for the long haul. If you’re willing to do whatever it takes, I’m willing to invest in you.

When someone’s attitude says they’ll try, what they’re really saying is that if they don’t like it, or it’s too hard, or they find something they like better, they’re going to quit. Yes, that could be true of anyone, but when you start out with that attitude, it does not bode well for your future. Why should I choose you when someone else has a much better attitude?

An employer–or a spouse, law partner, or business partner–is looking for commitment. They’re looking for someone who will do, “whatever it takes” to make their relationship a success.

So, take a look in the mirror. What is your attitude towards your legal career? Are you willing to do whatever it takes to be successful?

Would you hire you?

If you’re willing to do whatever it takes to make your practice a success, you need The Attorney Marketing Formula.

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Filed Under: Increase your income, Personal development, success Tagged With:

If you do this, you won’t have to join “Underearners Anonymous”

November 7, 2012 by
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I heard from an attorney recently who said his business is off. When I asked him why he thought that was, he referred me to a page on the “Underearners Anonymous” website that lists 12 “Symptoms of Underearning”. He claimed he had all 12.

I don’t think that’s really true and I don’t think he believes it, either. He’s blowing off steam. I know he’s been very successful in the past and his current situation is undoubtedly a temporary slump. But he is correct in looking inward for answers because even in a bad economy, many attorneys are thriving.

In today’s post, I want to talk about one of these 12 systems because I see it a lot. I’ll cover a second symptom in tomorrow’s post.

Number 7 on the list is “Undervaluing and Under-pricing’ — We undervalue our abilities and services and fear asking for increases in compensation or for what the market will bear.” I’ve done hundreds of consultations with attorneys and I can tell you that “undervaluing and under-pricing” is very common.

Charging less than you could is an obvious cause of lower income and it’s an easy fix: Raise your fees. But that’s easier said than done for the attorney who undervalues his or her services. If you don’t believe you’re worth more than you currently charge, you must first reconcile that belief with the truth.

Do your homework. Find out what other attorneys with similar experience charge. If most charge more than you do, you can assume that you can safely set your fees higher, and get it. And if you can get more, then you are worth more. Yes or yes?

What if you’re not worth more than what you currently charge? Well, then you’re not undervaluing yourself, you’re undervaluing your potential.

If you’re not worth more, charging more isn’t a good idea. You can get away with it for awhile but you will be found out, eventually. Instead, you need to increase your value. When you are worth more, you can charge more.

What about the attorney who knows he is worth more and still doesn’t raise his fees? These attorneys (and there are a lot of them) are afraid that if they raise their fees their clients will leave. And this is not without justification. Some clients will leave. A lot may leave, in fact, but losing clients is not the only thing to consider.

If you increase your fees you may lose some clients. But you can replace them with other clients who pay you more. The additional revenue from these new, better-paying clients, will offset the loss of revenue from clients who leave. Eventually, when you’ve replaced enough of the clients who leave, you’ll be earning a lot more than you do now.

You’ll probably want to increase your fees in phases. Start with new clients. They only know what you tell them and you won’t tell them about what you used to charge. As you get more new clients at higher fees, you can begin to raise fees for existing and former clients.

By the way, I said earlier that you should look at what other attorneys charge, to find proof that you can safely charge more than you do now. But be careful. What other attorneys charge doesn’t preclude you from charging more than they do, so don’t let it. But many attorneys do.

Many attorneys are afraid that if they charge more than other attorneys in their market, they won’t get hired. Well, there’s truth in that, too. If you charge more, some clients won’t hire you. But guess what? There are enough who will. And those are the clients you really want.

Set your fees high, my friend, and then do everything you can do to justify those higher fees. Give more value than other attorneys give and you’ll earn more than other attorneys earn.

If your clients say things like, “Yeah, she charges more, but she’s worth every penny,” then you know you’re doing it right.

If you want to learn how you can be worth more so you can charge more, you need The Attorney Marketing Formula.

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Filed Under: Attorneys fees, Client loyalty, Fees and Billing, Increase your income Tagged With: , ,
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