|
January 2012 Top Strategies to Build a Better Law Firm - Part 3
|
|
|
|
|
|
|
|
 Greetings!
This month's newsletter outlines the remaining strategies from our 3 part series on How To Build A Better law Firm. It isn't rocket science but it does require your time and implementation. Don't waste another year wading through problems - spend it using the tools you've gained to make your firm more successful.
Sincerely,
Stephen Fairley
888-588-5891
    
|
|
|
|
 Top Strategies to Build a Better Law Firm
Part Three:
Keep it Simple, Don't Follow the Pack, Eliminate Obstacles and... Don't Get Ahead of Yourself!
Speed to Market Wins Almost Every Time!
Speed versus strategy? Is it more important to have a solid strategy versus execute an imperfect plan? My response may surprise you. If I had to choose, I would bet on the law firm that selects three seemingly "simplistic" marketing strategies, but consistently implements them versus the law firm that takes six to nine months to write out a long, detailed annual marketing plan and only then starts to implement it.
Now, I'm all for planning things out to ensure you are using your limited finances in the best possible way to get the highest return on investment as quickly as possible, but plans do not win the marketing game! Attorneys are notorious for over planning everything. This becomes a fatal mistake when it comes to marketing.
Your marketing plan should only be focused on what actions you are going to take in the next 90 days. You should be able to easily write it down on one page. Keep it simple and focus on consistently taking action! Want to know how to create a powerful marketing plan for your law firm? Visit the website mentioned at the end of this article.
Look at What Everyone Else is Doing....and Then Do the Opposite!
Many of our best Rainmaker marketing strategies are based on contrarian thinking. I often tell my clients to look at what their competitors are doing and do the opposite! Not because their competitors are dumb or intentionally doing it "wrong," but because following the herd is the single most common action taken by attorneys in their marketing, especially on the internet.
Right now, I have heard a growing number of attorneys who are doubling down on their mass advertising (like the TV, radio, newspaper, Yellow PagesŪ) believing that since they can negotiate a good deal they should buy more of it.
That's good news for the rest of you! Not only is mass advertising generally ineffective in growing a law firm (there are some exceptions), but they are wasting their precious cash flow while you are investing it wisely on legal marketing strategies that actually work!
Just remember, if you're not the lead dog, the view never changes. Don't follow the crowd with your marketing, instead do the opposite. Eliminate Every Obstacle to Marketing Your Law Firm!
What is blocking you from achieving the financial success you deserve?
- A bad partnership?
- A partner or associate or key team member who is distracted and depressed?
- No passion for your clientele?
- Lack of automated systems to run your marketing?
- A poorly performing staff member?
- Not returning phone calls promptly?
- An incompetent associate?
- No system for following up with leads and prospects?
Now is the time to get rid of the dead weight! It's easy to overlook people's faults when times are good, but they are accentuated when times are tough. I believe in taking personal responsibility and not blaming others for your lack of success, but take a few minutes and ask yourself, "Who is the weakest link?" When you identify that person, remove them!
|
|
 |  |  |
Rainmaker In A Box:
Volume 2
Can ALL The Strategies To Create A Seven Figure Law Practice Get Stuffed Into One Box?
They CAN, if it's The Rainmaker Institute's 'Rainmaker In A Box', Volume 2! BUY NOW |
|
|
|
|
While you're at it, make every attorney and staff member commit to returning every single phone call and email within 24 hours. I'm convinced benign neglect of prospects, clients and referral sources is a major reason why many attorneys are struggling in their business.
Keep Your Team Lean and Mean!
I was recently speaking with a bankruptcy attorney in the New York area. His business is about the same as last year, but he isn't willing to do any marketing right now. Why? Because he just fired an associate who wasn't performing well and he doesn't want to take on any more work because he's not sure he can handle it alone.
Even when I pointed out, rather obviously, there are a lot of out of work attorneys right now who would love the chance to work and even more people who would entertain an Of Counsel relationship or work part-time, he wasn't interested. Seriously?
Now is not the time to add several new and costly staff hoping for massive success. Now is the time to keep your team "lean and mean" while putting everything you can into effective marketing!
Marketing takes time. Most attorneys do not see great results from their efforts for three to six months after they fully implement the plans. This leaves plenty of time to set up an Of Counsel or referral relationship to handle the overflow or even find a part-time Associate if needed.
I remember working with an estate planning and business law firm with two partners outside of Los Angeles about two years ago who insisted on waiting to fully implement their marketing plan until they hired at least two more associates. Finding and hiring the first associate became an arduous process over a three month period. The second associate took even longer to find.
Almost a year later, one of the partners became convinced they needed to upgrade their offices and move to a bigger and better location to attract the higher end clients they wanted. So after the second associate was hired (both were paid six figures), they decided to put off marketing for another quarter in order to track down a new office space. They went from 2,000 square feet in a Class B building to 6,000 square feet in a Class A building.
Their overhead tripled, the economy tanked, suddenly they couldn't afford to keep paying the two high priced Associates to sit there and twiddle their thumbs waiting for work to do.
The last I heard, the law firm has never regained their financial footing. Here's the moral of the story: Market NOW! Wait until your marketing efforts pay off to ramp up your staff to handle the increased work load. Putting the proverbial cart before the horse on ramping up your staff can be financially devastating!
|
|
The Rainmaker Retreat is our 2-day Marketing Boot Camp where we teach lawyers how they can have it all; increase the number of clients they have, double their income, and yet work less.
Register for the Rainmaker Retreat...
What do you have to lose? And what do you stand to gain?
|
 Friday, February 10th & Saturday February 11th - Orlando, FL Friday, March 30th & Saturday March 31st - San Diego, CA Friday, April 27th & Saturday April 28th - Chicago, IL |
 Many people have asked us what it is like to attend our Rainmaker Retreat. This is a "snapshot" of what you will learn. Listen to colleagues (and even competitors) describe their experiences at the 2 day Rainmaker Retreat. Watch now or order a free DVD recording. If you take advantage of the Early Bird Special (only available when you register at least 2 weeks in advance of the event) you receive $300 worth of extra benefits!
Discount Pricing available for multiple attendees from the same firm.
For more information please call: 888-588-5891 or visit www.RainmakerRetreat.com |
 "The Most Deadly Legal Marketing Mistakes Attorneys Make" - Join us for this 60 minute complimentary call to gain insight into your marketing mistakes and the steps to take to fix them. Also learn why hundreds of attorneys across the country attend and rave about our 2 day bootcamp "The Rainmaker Retreat" Capacity is Limited. Reserve Your Spot Now. UPCOMING DATES: Thursday, February 2nd, 2012 12pm PT | 1pm MT | 2pm CT | 3pm ET Wednesday, February 8th, 2012
11am PT | 12pm MT | 1pm CT | 2pm ET |
|
|
|
|
|
|
