What if you never met anyone new?

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Did you hear about the imaginary new law? It says that one year from today, lawyers will no longer be allowed to meet new people. No networking, no advertising, no social media, no speaking or writing or anything else. Whoever you know one year from today is it.

Disastrous? One more law that needs to be overturned?

Not really. The law doesn’t say you can’t get referrals. The people you know can still send business and introduce you to people they know.

The law simply says that you can’t, on your own, meet anyone new.

(Are you still with me on this imaginary sojourn? I hope so. I do have a point.)

Now, knowing that this law will take effect in exactly one year, what would you?

Would you meet some new people as quickly as possible? You probably would.

Would you do everything you could to meet more well connected, influential people in your target market? Yeah, that would make sense.

Would you also work hard to strengthen your existing relationships? I’m thinking that’s a yes.

If one year from today you could not, on your own, meet anyone knew, I think it’s safe to assume you would have a sense of urgency about improving and growing your existing network of contacts. The question is, at some point, would you have enough?

Would you know enough people to sustain your practice ad infinitem? Could you survive and thrive solely on their repeat business, referrals, and introductions?

Yes.

No matter what kind of practice you have, if enough people know, like, and trust you, and you treat them right and stay in touch with them, your financial future should be golden.

And hey, enough doesn’t mean thousands. 50 or 100 people will probably do the trick for most lawyers, assuming those people aren’t hermits. In fact, five or ten good referral sources can keep you very busy. Remember, you will also get referrals from the new clients they send you and referrals from those clients, too.

It’s not about who you know. It’s about who they know.

Anyway, even though you may already have enough people in your existing network, you probably should go find some new contacts before the new law goes into effect. I know, it’s imaginary, but if you pretend that it’s not, in a year, you’ll be a very happy lawyer.

Want more referrals? Try this.

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Marketing legal services with a rifle, not a shotgun

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Most attorneys use a shotgun in their marketing. They spray marketing pellets far and wide, hoping to hit anything that flies by. Because they aren’t focused, they spend too much time (and money) and are often frustrated with their results.

The most successful attorneys use a rifle in their marketing. They aim at carefully selected prospective clients and referral sources. They may not always hit something, but when they do, the usually win the big prize.

Let’s look at two estate planning attorneys seeking to build their practice through networking.

Attorney number one goes to a networking event at his local Chamber of Commerce. He meets as many people as possible and comes home with 20 or 30 business cards. He sends everyone a “nice to meet you” email and waits to see what happens. And waits. And waits. Because everyone he met is busy, and also marketing with a shotgun, not much happens.

Attorney number two focuses on professionals in the health care industry, so he attends a networking event sponsored by an association of health care professionals. Before he goes, he does some homework. He finds out who will be speaking at the event, and gets a list of the event organizers and committee heads. He Google’s these people’s names, visits their websites, and sets up files on three people he wants to meet at the event. He knows where they work, what they do, and what’s important to them.

At the event, he meets with his chosen three. He takes notes about their conversations. He hits it off with the administrator of a big hospital, in part because they know some of the same people.

The attorney sends follow-up emails to his three. He notes that one belongs to another organization which has a meeting scheduled in two months, and makes a note to ask him if he will be attending that meeting.

The attorney calls a physician he knows whose name came up in his conversation with the hospital administrator. He tells him about his meeting and asks a few questions about the administrator, adding this information to his notes. He says something nice about the administrator.

He does more research on the administrator and his hospital. He finds out which law firms represent the hospital. He subscribes to their newsletters. He does the same thing for the hospital’s insurance brokers, accounting firms, and some of their major suppliers. He sets up Google alerts for these firms and their partners or principals, so he can stay up to date on any news.

He calls the administrator and leaves a voice mail message. He says he enjoyed meeting him and says he spoke to the physician they both know and told him about their meeting. He says the physician said to say hello.

He emails a copy of an article he just wrote for a health care web site to the three people he met at the event. Because he took notes, he is able to add a personal note to each email, mentioning something they talked about at the event.

Okay, you get the idea.

Attorney number two is focused. He doesn’t try to meet everyone, he is selective. He does his homework and he follows up. And because he’s not “targeting” everyone, he has the time to do it.

Attorney number one may get some business from his Chamber of Commerce network. But attorney number two is networking with heavy-duty centers of influence in a niche market. Because he specializes in that market, those centers of influence will notice him and eventually, provide him with referrals and introductions to other centers of influence in that market.

Marketing legal services with a shot gun can make you a living. Marketing with a rifle can make you rich.

Want help choosing the right niche market for your practice? Get this.

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The 80/20 Principle and your law practice

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One of my favorite books is The 80/20 Principle by Richard Koch. In it, Koch makes the case first articulated as The Pareto Principle, that “a minority of causes, inputs, or effort usually lead to a majority of the results, outputs, or rewards”.

The idea is that as much as 80% of your results may come from 20% of your effort. In the context of practicing law, that might mean that 20% of your clients produce 80% of your income. The actual numbers, however, aren’t necessarily 80/20. They might be 90/30, 60/20, or 55/5. The point is that some things we do bring results that are disproportionate to our effort and that it behooves us to look for those things and do more of them.

Koch says, “Few people take objectives really seriously. They put average effort into too many things, rather than superior thought and effort into a few important things. People who achieve the most are selective as well as determined.”

We’re talking about focus. About doing more of what works and less of what doesn’t. About using leverage to earn more without working more.

Look at your practice and tell me what you see.

  • Practice areas: Are you a Jack or Jill of all trades or a master of one? Are you good at many things or outstanding at one or two?
  • Clients: Do you target anyone who needs what you do or a very specifically defined “ideal client” who can hire you more often, pay higher fees, and refer others like themselves who can do the same?
  • Services: Do you offer low fee/low margin services because they contribute something to overhead or do you keep your overhead low and maximize profits?
  • Fees: Do you trade your time for dollars or do you get paid commensurate with the value you deliver?
  • Marketing: Do you do too many things that produce no results, or modest results, or one or two things that bring in the bulk of your new business?
  • Time: Do you do too much yourself, or do you delegate as much as possible and do “only that which only you can do”?
  • Work: Do you do everything from scratch or do you save time, reduce errors, and increase speed by using forms, checklists, and templates?

Leverage is the key to the 80/20 principle. It is the key to getting more done with less effort and to earning more without working more.

Take inventory of where you are today. If you’re not on track to meeting your goals, if you are working too hard and earning too little, the answer may be to do less of most things, the “trivial many,” as Koch defines them, so you can do more of the “precious few”.

My course, The Attorney Marketing Formula, can help you.

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Yep, size does matter

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We used to say, “you can judge the success of a man by the size of his Rolodex.” Of course today we would say, “you can judge the success of a person by the size of his or her list”.

It’s true. The more people you know, the more conduits you have to clients, referrals, introductions, and information. As the currently running ATT commercial says, “more is better”.

However, while the size of your list is important, even more important is the quality of that list.

You may do pro bono work at a legal clinic and know 1000 indigent people. From a networking standpoint, the five people you know on the clinic’s board are probably more valuable to you.

Who you know is more important than how many.

A small list of high quality contacts will almost always beat a much bigger list of weaker contacts.

What is a high quality contact? Someone who needs your services, has the authority to hire you and the ability to pay is a high quality contact. So is someone who is influential in your target market. They might not need your services themselves but if they can refer a lot of people who do (or who know people who do) they are a high quality contact.

But there is another equally important factor: your relationship with the people on that list.

You may know a lot of people who have the ability to hire you or the ability to refer clients to you but if they don’t yet know you well enough to hire you or send you referrals, their value to you is limited.

It’s not just who you know, it’s who knows you.

So you want a list of high quality contacts, people with the ability to hire you or refer lots of others and who know, like, and trust you enough to do so. Where do you find them?

You find them on your list of low quality and average quality contacts. Quantity leads to quality. The bigger your list of low quality and average quality contacts, the bigger will be your list of high quality contacts.

The man or woman with a big Rolodex or email list has lots of high quality contacts but they also have lots of low quality contacts.

So yes, size still does matter.

Want to grow your list online? Click here to learn how.

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Marketing your law practice one hour a week

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If you only have one hour a week for marketing your law practice, I would spend that time on the phone. Here’s how I would break it down:

  • Twenty minutes speaking to clients and former clients. I would call new clients to say thank you (in addition to sending them a thank you card) and current and former clients to see how they are doing. These people put food on your table and are your best source of new business. Speaking to them “off the clock” is a highly leveraged marketing activity.
  • Twenty minutes speaking to referral sources. I would call other professionals I work with, thank them for their recent referrals, look for ways I can do something to help them, and brainstorm ways we can work together to our mutual benefit.
  • Twenty minutes reaching out to other professionals. I would call people I don’t know, to introduce myself, find out what they do, and see if there is a way we could can work together to our mutual benefit.

A law practice is a people business. We talk to people to strengthen our relationships and cultivate new ones. If you can’t meet people face to face, the phone is the next best thing.

In some ways, the phone is even better than face to face because there is no travel time. So, with only one hour a week, I would smile and dial.

Of course if I had two hours a week for marketing, I would use the second hour to have lunch or coffee with people I know and people I want to know.

This shows you how to set up marketing joint ventures with other professionals. 

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Why you should get a marketing partner

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You may not want a law partner but you should definitely have a marketing partner.

Seriously.

It will mean more traffic to your website. More sign ups for your newsletter. And more new clients.

Maybe a ho lotta new clients.

So, this is how it works. You find another attorney, or any other professional who targets the same market you do. It could also be a business owner.

It should be someone who does good work (or sells good products). Someone you would recommend to your clients and contacts if they needed those services or products.

You call them, and ask them if they want to be your marketing partner.

They say yes. Sounds like a plan.

And then. . .

You promote him and he promotes you.

You tell everyone on your list and on social media about how great your partner is. You tell everyone to go visit his website and see all of his great content and sign up for his list.

Your partner does the same thing for you.

You both get traffic. And sign ups. And clients.

Of course your web site should have great content. And a mechanism for signing up visitors on an email list. So if you don’t have these things, you might want to do that first.

And then go get you a marketing partner.

But don’t stop there. Go get another marketing partner. Get as many as you can. Because more is better.

And then, you can talk to your marketing partners about doing more things together to promote each other. Like webinars or teleconferences. Or writing articles for each other’s newsletter or blog.

This is easy. And smart. And very highly leveraged.

It’s called a strategic marketing alliance. Or joint venture. Or cross promotion. And it is one of the best ways for any lawyer to build their practice.

Start making a list. Who do you know who is good at what they do, has a decent website and an email list? Then make some calls.

The Attorney Marketing Formula teaches you more ways to leverage other people’s lists. Click here to get your copy.

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

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

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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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Why every attorney needs to have a global presence

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You only practice in one state or province or country. You can’t do legal work outside of your jurisdiction. So why should you pay attention to anything elsewhere? Because we live in a global society.

Every day, people move into and out of your city. New arrivals in your city will need an attorney. Some research attorneys before they move. If someone in Los Angeles is being transferred to New York where you practice, they might find you online long before they arrive in town.

Others will ask their attorney, CPA or other professional (in LA) if they know any lawyers in New York. If you have a relationship with those professionals, there’s a good chance that you’ll get the nod. But even if you don’t have a relationship, many professionals will go online to find an attorney in another city to whom they can refer their client.

It happens all the time, even when nobody is moving. People ask people if they know an attorney in LA or NY or Houston or Miami, because their aunt or cousin or business partner has asked them and they thought you might be able to help.

When you send referrals to attorneys in other parts of the country, or other countries, those attorneys will be inclined to send their referrals to you. The same is true of other professionals and businesses.

A law practice is a local business but from a marketing perspective, it is also a global business.

No matter where you practice, you need a strong online presence. You never know when someone in a country you’ve never heard of might be looking for an attorney in your town.

You also need to reach out to professionals and businesses in other parts of the world so that when a client or professional contact asks you if you know a real estate agent, insurance broker, CPA, or lawyer in another city you can give them a referral.

The more referrals you give, the more you will eventually get. But where do you start?

Well, you could pick a city and pick a profession and ask your contacts if they know someone in xyz who does abc, or you could go online and find someone yourself. Then, when someone asks for a referral to someone in xyz who does abc, you’ll have someone. But this is too slow. I suggest you do things in reverse.

Start by announcing to your clients and contacts that you have connections throughout the country–in law, real estate, banking, insurance, and businesses of all kinds. Encourage them to come to you when they need a referral or know someone who does.

When someone asks for a referral, go find someone. The urgency of having someone who needs that referral will force you to find someone fast. But now, instead of merely introducing yourself and saying you hope the two of you can do some business together some day, you’ll actually have someone ready to refer.

It’s called “working smarter” for a reason.

Want to know more ways to work with other professionals and get more referrals? Get The Attorney Marketing Formula and find out.

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The problem with multiple streams of income

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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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