A simple way to be more productive

May 12, 2016 by
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If you ever sent me an email, whether by replying to one of my emails or by using the “contact” form on my site, there’s a very good chance that you didn’t get a reply. One of the ways I stay productive is by saying “no” to most of the things that cross my path, and that definitely includes email.

I do read my email and I encourage you to write to tell me what’s on your mind or to ask questions. I get a lot of ideas for blog posts from your questions and comments, so please don’t stop writing. But don’t be disappointed if you don’t hear back from me, or if you get a one or two-word reply.

Time is money. Tempus fugit. I love ya, but I get a lot of email and I can’t spend hours every day replying to everything.

How about you? Do you answer all of your email? Do you “say no” to most of it? Or do you do something in between those two extremes?

I’m not going to tell you what you should or shouldn’t do because everyone is different. But I encourage you to think about your situation and establish a policy that works for you.

Obviously, you shouldn’t ignore emails from clients or prospects. Nor should you discourage them from writing. In fact, you should do just the opposite–the more you communicate with them via email, the less time you’ll need to spend on the phone.

The point is that email (and regular mail) takes up a good portion of the day for most professionals and it is okay if you don’t reply to everything. If you can shave off 30 minutes a day by not doing so, doesn’t it make sense to move in that direction?

A good place to start is by deleting or archiving emails from people who want to sell you something or do business with you. It’s not rude to ignore unsolicited email, however personal and polite (or known to you) the sender might be. Your refusal to reply is, in itself a reply that says, “thanks, but no thanks”.

It’s also okay to have someone reply for you. And to use form replies that require no more than a couple of clicks.

Start by making yourself aware of how much time you spend responding to email, and to whom you are responding. You might want to keep a log for a week or two and then imagine that time being spent doing billable work.

If you want to get more done in the course of your day, you need to say no to most things that cross your path, and email is a good place to start.

How I got my email to “inbox zero”

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Filed Under: Email, Law office management, Productivity

Is your law practice a fixer-upper or a tear-down?

May 9, 2016 by
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Some real estate investors look for properties they can improve by remodeling the kitchens and bathrooms. Others look for “tear-downs” and build new structures from the ground up. And some look for “ugly” properties that need nothing more than cosmetic improvements like floor and window coverings, paint, and minor landscaping.

Ugly property investors seek a quick turn around and look for properties with “the right things wrong with them”.

How would your practice fair as a potential investment? How could you quickly increase your cash flow and profits?

No matter how well run and profitable your practice is, there’s always room for improvement. Some practices need a little paint and polish and other “cosmetic” improvements. Some have structural problems and need major work. And some practices should be probably be torn down and rebuilt from scratch.

Take a look at your practice through the eyes of a potential investor. What do you see?

Are you in an office that’s too big or too expensive? Renegotiating your lease or moving to a less expensive building might help. If your office is too small for you or poorly located, however, a new location might allow you to bring in more clients or better clients and give you room to expand.

Examine your staff. Do they need to improve their skills? Does anyone need to be replaced? Do you need more people helping you so you can focus on marketing and big-picture projects?

Examine your computers, software, library, and other resources. What needs to be repaired or replaced? What would allow you to do your job quicker, more efficiently, or at lower cost?

Do you need new practice areas? Do you need to “fire” some of your clients to make room for better ones?

Do you do something in-house that might be done better or less expensively by an outside contractor? Are you spending too much outsourcing tasks that could be done by your employees?

Once or twice a year you and your staff should stand down from your regular activities and ask these kinds of questions. Take inventory of what you have and how it could be improved. Look for ways to lower overhead, increase your billing and bottom line.

Does your practice need major repairs or cosmetic improvements? Does it have the right things wrong with it?

Your marketing should start with this

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Filed Under: Law office management

Suggested marketing budget for lawyers?

April 27, 2016 by
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Yesterday, I talked about the need to establish a marketing budget for your practice. A reader emailed me a link to an article with a similar theme. The author was speaking about technology companies, not law firms, but makes a good point about the vital need to invest in marketing:

“You need to be the best marketer in your marketplace to succeed in today’s Internet world. You need to spend at least 15% of your revenues on marketing and sales, and preferably over 20% of revenues to really grow.

If you do not spend at least 15% of revenues on sales, and more on marketing, then your company will have a very difficult time not just growing, but even surviving.”

This doesn’t mean lawyers must follow the same guidelines. Tech companies and law firms are as different as night and day. While I can’t tell you what percentage of your revenue you should invest in marketing, at least not without knowing your current situation and goals, I can tell you some of the factors I would consider:

  • Your current gross and net income. How much do you have available for marketing after overhead, debt service, and other fixed costs of doing business?
  • Your practice areas, current marketing methods, and budget. What results are you getting? (i.e., traffic, leads, percentage of sign-ups, etc.)
  • Your average fee per case or client. Are they typically one-time clients or clients with ongoing legal needs?
  • The lifetime value of a client. How many times will he return, how much will he spend, how often will he refer?
  • Your target markets. (Niche markets are usually easier and less expensive to reach.)
  • Your ideal client and the costs to attract and court them. (Big companies, for example, might involve more expensive presentations, wining and dining, and a longer time frame. If you advertise, your cost per client is likely to be higher than other marketing methods.)
  • Your competition. How many other lawyers or firms do what you do? What marketing methods do they use? How much do they spend?
  • Your experience, reputation, and USP? How are you different or better? How easy is it to market you?
  • Current marketing resources: in-house talent, size of your email list, websites/blogs, social media following, etc.
  • Your credit worthiness. Can you finance your marketing with a line of credit at favorable rates? If you advertise, note that many publications offer generous credit terms.
  • Your attitude towards marketing. Do you like it? Are you good at it? How aggressive are you?
  • Other offices, practice areas, lawyers in your firm? Can you amortize or share marketing expenses?
  • Your goals. How many? How fast? Do you want high volume or high quality? Where do you want to be in 5 or 10 years?

Lawyers tend to have big margins (i.e., the size of the average fee vs. the cost to deliver the service), which means you can probably justify a bigger investment in marketing than you currently spend. Don’t forget to include the lifetime value of a client in making that calculation.

Depending on your practice areas and primary marketing methods, you might find that you can do just fine with a modest marketing budget. If you get most of your business through referrals, for example, you don’t need to spend 15 or 20% of your gross on marketing. If you want to grow bigger and faster, however, or you’re in an especially competitive market, you just might.

Whatever other marketing you do, you should focus on referrals

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

Write it once, use it forever

April 21, 2016 by
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I’m sure you have a welcome letter you mail to new clients. You probably also use some kind of “memo” or form to accompany mailed documents, along with check boxes to indicate what the recipient should do (e.g., sign and return, review, etc.)

Form letters save time and reduce the risk of errors or omissions and I encourage you to create them for all aspects of your practice.

Gmail has a feature called “canned responses”. Outlook and other email applications have something similar. They allow you to create email templates or “form letters” you can use instead of composing an original email each time, or copying and pasting paragraphs or whole emails from another document.

Go through your “sent” emails for the last 60 or 90 days and look for “frequently sent emails,” whether originated by you or sent in response to an inquiry. Flag them for creating canned responses.

Here are a few ideas to get you started:

  • I got your email (and will reply soon/this week/after I review your questions)
  • Thank you (for coming in, calling, returning documents, for your help)
  • Here’s what to do/expect (what happens next, watch your mail, please call me, don’t forget to send us)
  • Answers to FAQs (hours, parking, fees, practice areas. Provide answers and/or direct to pages on your website)
  • Marketing inquiries (do you accept advertising, guest posts; I’m available for interviews)
  • Checking in (with clients, former clients, networking contacts)
  • Nice to meet you (after a networking event, introduction, phone conversation)
  • Announcing (new content on your website, firm news, new laws/regs)
  • Promoting (your newsletter, your ebook, your seminar, your podcast or youtube channel)
  • Reminders (next appointment, court dates, due dates)
  • It’s time to review (your lease, trust, corporate docs, agreements, legal status)

In addition to complete emails, you can set up a “library” of frequently used paragraphs, links, and subject lines.

While you’re at it, don’t forget to set up different “email signatures”.

For prospective clients, your signature might promote a free report or free consultation, invite them to connect with you on social, or invite them to review specific pages on your website. For existing clients, your signature might invite them to sign up for your “clients only” email list or cross-promote other services offered by you or your firm.

Using canned responses, form letters, and checklists might save you 30 minutes a day, or more. How much would that be worth to you over the course of a year?

Leverage is the key to earning more and working less. More

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Filed Under: Law office management, Productivity, Time Management Tagged With: , , ,

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: ,

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

Does your practice run like a well-oiled machine?

March 29, 2016 by
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If your practice was a machine you would want that machine to operate at peak efficiency. You’d want everything to work properly, needing little more than routine maintenance.

Your machine would make no sound other than the quiet hum of a well-oiled, finely tuned motor. It wouldn’t need a lot of attention, it would just work.

Your practice should be like that–no snags, no sticking points, no wasted time or money. You should know that everything is working efficiently and not be worried about it suddenly seizing up, and if there is an emergency, you should have a plan in place for that.

You create this efficiency through systems.

Your workflow should have a system. All of the steps should be documented, with all of the forms and procedure you need close at hand. You should have the right software and other tools you need, and know how to use them.

You should have an office manual that outlines all of the mundane functions of running an office, including a process for hiring and training employees, bookkeeping, billing, banking, and replenishing supplies. Your staff should know how to handle nearly everything and not have to come to you for every little hiccup and burp.

When you have all of this in place, when your practice runs efficiently and produces optimal work product and profits, you can focus on the one remaining task: marketing. Because without marketing, nothing else matters.

No marketing, no new clients, and your machine will grind to a halt.

You don’t need to have brilliant marketing, but whatever you do must be done regularly, consistently, and efficiently. You do this the same way you run the rest of your practice–with a system.

Your system should tell you what you will do this week to bring in new clients and serve existing ones. What will you write, where will you go, who will you call?

You should have the forms, the letters, the scripts, and the process at your fingertips so that you don’t have to figure out what to do, you can just do it.

Marketing should never be an afterthought, something you do when the files are running low or when you think about it and can find the time. It should be planned in advance and executed on a regular schedule.

Marketing is the fuel that makes your motor run. Keep your tank full and it will take you where you want to go.

Start or update your marketing plan with this

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Filed Under: Law office management, Marketing legal services Tagged With:

I’d rather have four quarters than 100 pennies

February 26, 2016 by
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I love keeping things simple. But simplicity for simplicity’s sake is a foolish economy if it results in fewer or poorer results. “Leverage” means getting MORE results with less effort, or at least more results with the same effort.

A marketing guy I follow echoed my philosophy when he said, “I’d rather have four quarters than 100 pennies”. He was talking about the value of having fewer but better clients.

Fewer clients with bigger cases, or fewer clients who have more work for you and are willing and able to pay higher fees.

Fewer but better clients means you have fewer hands to hold, problems to solve, and fires to put out. It means you can spend more time and more money bringing in new clients and keeping them happy. It means you can earn more income with less effort.

That’s why I talk about letting the mass market of lawyers handle the mass market of clients, while you focus on the upper crust. Let everyone else fight over the scraps while you feast on the steak.

Unless you are especially well funded or daring, you probably won’t be able to do this immediately. But you can immediately state this as your objective and start working in that direction.

When you make it your intent to transition your practice to better clients, you start looking at the universe of clients differently. You make changes to your ads and marketing documents and websites, you start networking with a different crowd, and you do other things that affirm the new direction of your practice.

Eventually, you will embrace this new paradigm and make bigger changes. You eliminate marginal practice areas, for example, and focus on one or two. You might cut down on marketing channels or techniques and focus on the ones that are better suited to the practice you are trying to create.

You may be nervous about some of these changes. I know I was when I started turning down business. There’s a big void in your file drawer when you no longer handle anything that shows up, but if your experience is anything like mine was, you will quickly fill that void with new and better clients.

Then, one day, you’ll get your first “quarter”–a big case or client–and you’ll realize that if you can get one, you can get more. And that’s when everything will change.

This helps you create a profile of your ideal client

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

What are you working on?

February 24, 2016 by
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What are you working on right now? I’m not referring to your regular work–cases, client work, or the daily activities of running your practice–I’m talking about something else: a project or group of projects designed to take you or your practice to a higher level.

So tell me, what are you working on?

You might be updating your website or expanding your advertising. You might be working on a new office procedure manual, updating your forms or form letters, or writing a series of emails to former clients. You might be putting together a list of names of professionals in your market you plan to call and invite to lunch. You might be working on a new presentation, an ebook, or a video.

You should always have a project you’re working on, and when someone asks, you should immediately know what it is.

There’s always something you can do to improve your marketing or the operations in your office. You can always improve your speaking, writing, negotiation, and sales skills.

So, what are you working on?

Are you learning how to get more referrals? Are you watching training videos about software you bought but haven’t used? Are you planning a meeting with your staff or partners to discuss ways to streamline the workflow in the office, lower costs, or increase profits?

You should always be working on at least one project designed to advance your skills or improve your results. And you should always have time scheduled during the week to work on that project.

You are are a professional but you also run a business. That business has many facets, many moving parts that need to be coordinated and maintained. Your business competes with other firms who do what you do and you need to stay at least one step ahead of them.

Delivering quality legal services isn’t enough. Most lawyers do that. If you want to stand out from the crowd, you have to do more.

So tell me, what are you working on?

Are you working on your website? This is what you need

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Filed Under: Law office management, Marketing legal services, Personal development

What would happen if you stopped marketing?

February 18, 2016 by
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A few years ago, I saw a few episodes of a program called, “Life After People”. It depicted what the earth would look like in 25, 50, 100 and 300 years (I think) if mankind was extinct.

It showed our tallest skyscrapers decaying and eventually crumbling into dust. It showed the forests overtaking our cities. It showed some animal species thriving, and others becoming extinct.

It was both a fascinating and frightening portrayal of nature reclaiming the earth, and it made me realize all of things humankind does to maintain and nurture our planet.

Thinking about this program made me think about what would happen if professionals stopped marketing. If we no longer did anything to bring in new clients and keep them happy, what would our practices look like in a few years?

What would happen if you pulled all of your advertising and stopped networking, writing, and speaking. If you never added anything new to your website, posted on social media, or sent your clients and prospects another letter or email?

What would your practice look like if you did nothing more for your clients than the legal work you were hired to do? If you did nothing else to inspire your clients to tell the world about their great experience with you?

If you stopped all marketing, what would your practice look like in a year? Five years? Ten? Would you still be open for business or would the weeds overtake you and hasten your extinction?

Just as mankind maintains the world’s infrastructure and continually creates new and better ways to add quality of life to our days on Earth, so must every lawyer maintain their practice and make it grow.

Do yourself a favor and make a list of everything you do that could be considered marketing. Big things and small things. Old things and new things. Easy things and challenging things. Making this list will help you see how much you do to keep your practice’s engine in good repair.

Then, imagine what would happen if you stopped doing these things and let the practice run on it’s own. No doubt the image you see in your mind’s eye would be sobering, even if you haven’t seen “Life After People”.

Finally, look at your list again and imagine what your practice might look like in a few years if you made a little extra effort to do the things we call marketing a little better, and found some new things you could do to help your practice grow.

And grow you must, because if your practice isn’t growing, it’s dying.

If you want a simple marketing plan that really works, get this

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Filed Under: Law office management, Marketing legal services
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