60 Law Practice Empowerment Tips

63

Transcript of 60 Law Practice Empowerment Tips

Page 1: 60 Law Practice Empowerment Tips
Page 3: 60 Law Practice Empowerment Tips
Page 4: 60 Law Practice Empowerment Tips

KEEP YOUR EYES ON THE PRIZE

Page 5: 60 Law Practice Empowerment Tips
Page 6: 60 Law Practice Empowerment Tips

• Know the sources from where your clients originate

• Know WHY your clients hire you• Review your inventory (i.e. time)• Know the sources of your income• Know what you’re spending• Concentrate on client service

Page 7: 60 Law Practice Empowerment Tips

WHY POMODORO?

Page 8: 60 Law Practice Empowerment Tips

All businesses need systems, what are yours and have you developed

them.

Page 9: 60 Law Practice Empowerment Tips

There are things in your business you should be doing, and know you should do but you put them

off last.

Do these first!

Page 10: 60 Law Practice Empowerment Tips

The Time Map: Use your Calendar

Page 11: 60 Law Practice Empowerment Tips

Control your e-mail flood.

Page 12: 60 Law Practice Empowerment Tips

• O. only

• H. handle

• I. it

• O. once

• Paper or email:– Do

– Delegate

– Dump

Page 13: 60 Law Practice Empowerment Tips

What are your key metrics?

Write down

Track

Measure

Know how you get new clients

Know how much you want to make

Know your “Nut”

Page 14: 60 Law Practice Empowerment Tips

“If you think you’re to small to be effective, you’ve never been alone in a dark room with a

mosquito”

Page 16: 60 Law Practice Empowerment Tips

AND NOW WHAT DO YOU SEE?

Page 18: 60 Law Practice Empowerment Tips

Attention is becoming one of the scarcest resources. If you get it,

respect it and give them what they want or seek.

Page 19: 60 Law Practice Empowerment Tips

Let’s make you remarkable…

Page 20: 60 Law Practice Empowerment Tips

VALUE

Page 21: 60 Law Practice Empowerment Tips

THE WORTH OF SOMETHING TO

SOMEONE

HOW DO YOU IMPROVE YOUR CLIENT’S CONDITION?”

Page 22: 60 Law Practice Empowerment Tips

Cheat

Page 23: 60 Law Practice Empowerment Tips

How Do Lawyers Cheat?

• Spend extra “off the clock” time with a client if necessary

• Make unsolicited phone calls – be proactive!• Send handwritten birthday cards to our clients, past

and present• Send holiday cards for off-holidays• Have closing-case “exit interviews”• Practice electronically, meaning every document is

available to both us and our clients at a moment’s notice

(Yes, that’s cheating)

Page 24: 60 Law Practice Empowerment Tips

Homework – If You Haven’t Already Done

This

Compile the email addresses of 20% of your clients and/or referral sources that absolutely love what you do. What can

you do for them that will make them feel special?

Page 25: 60 Law Practice Empowerment Tips

You’ll never develop clients sitting behind your desk.

Page 26: 60 Law Practice Empowerment Tips

Potential Clients because their needs and priorities fall in your legal sweet spot.

Referral Resources: People who respect you enough to be willing to open doors for you, as well as knowing others’ needs and what it takes to address them

Centers of Influence: Well-connected, high-torque people who can make things happen

Connectors: Those social extroverts who delight in bringing like-minded people together

Leverage your networking activities

Page 27: 60 Law Practice Empowerment Tips

Follow-up and Consistency are the cornerstone of a strong

business

Page 28: 60 Law Practice Empowerment Tips
Page 29: 60 Law Practice Empowerment Tips
Page 30: 60 Law Practice Empowerment Tips
Page 31: 60 Law Practice Empowerment Tips
Page 32: 60 Law Practice Empowerment Tips
Page 33: 60 Law Practice Empowerment Tips

FIRST STEP: ACCEPT ONLY YOUR IDEAL CLIENT?

• To Find Your ideal client:

– Will pay you a fair rate for your work.

– Will respect your time.

– Respects Your Opinion.

– Maybe, even loyal.

Page 34: 60 Law Practice Empowerment Tips

First Impressions…

• Treat a prospective client like gold!• Pour on some good old fashioned

Southern hospitality• Make them feel welcome and

important – and make sure they leave feeling like they have made the right choice!

Page 35: 60 Law Practice Empowerment Tips

Make it all about your client

• It is their issue – stay sensitive yet professional

• Remember, you hear it all the time…this is their tragedy

• They need to know you care…

Page 36: 60 Law Practice Empowerment Tips

Look at a situation in 3 ways: Your way, their way and as an observer looking at

both.

Page 37: 60 Law Practice Empowerment Tips

The Key to Client Satisfaction

AskListen

Act

Page 38: 60 Law Practice Empowerment Tips
Page 39: 60 Law Practice Empowerment Tips

You don’t need to take every potential client that walks in your door

Page 40: 60 Law Practice Empowerment Tips

Learn to Say “No”

• Just because they have the ability to pay does not mean you MUST take their money

• Just because they say they want you, and only you, as their lawyer, does not mean you MUST take them as a client

• 20% of your clients will give you 80% of your headaches

Page 41: 60 Law Practice Empowerment Tips

Time to Re-Learn the “A, B, C’s”

Page 42: 60 Law Practice Empowerment Tips

Get Happy – Fire Some Clients

Don’t spend hours on no or low-profit clients if that time can be spent on higher-profit matters

Remember your 80/20 Rule!

Page 43: 60 Law Practice Empowerment Tips
Page 44: 60 Law Practice Empowerment Tips

THOU SHALL TRACK

TIME

EVEN CONTINGENT and FLAT FEES

Page 45: 60 Law Practice Empowerment Tips
Page 46: 60 Law Practice Empowerment Tips

Flat Fees and Law Firm EconomicsWhat Do You Measure?

Exam historical data• Billing data• Collections history• Number of flat fee cases• Cost per flat fee matter• Revenue per flat fee

matter• Practice areas used

Page 47: 60 Law Practice Empowerment Tips

Track and Report on Goals

Page 48: 60 Law Practice Empowerment Tips

Getting a Client to Pay…

Page 49: 60 Law Practice Empowerment Tips
Page 50: 60 Law Practice Empowerment Tips

– Do not be shy about discussing fees– Do not reduce your price– Do not devalue your service– Make certain the client understands your

policy– Pre-determine the appropriate retainer and

collect it

Set the Rules

Page 51: 60 Law Practice Empowerment Tips

Billing early, often and strategic =

Billing late and infrequently =

Page 52: 60 Law Practice Empowerment Tips

Cash Flow

Page 53: 60 Law Practice Empowerment Tips
Page 54: 60 Law Practice Empowerment Tips
Page 55: 60 Law Practice Empowerment Tips

Create “Raving Fans”

“Clients are only satisfied because their expectations are so low and because no one else is doing it better. Just having satisfied clients isn’t good enough anymore. If you really want a booming business, you have to create raving fans.”

Page 56: 60 Law Practice Empowerment Tips

BE PROACTIVE

DON’T•Fail to return phone calls•Sound disinterested when speaking with a client•Fall behind in casework•Neglect your staff. Keep them informed of your activities•Overpromise

DO•Call clients in a timely manner•Keep your case lists, budget and business plan up to date•Praise your staff for a job well done•Treat each client as if they are your biggest referral source•Overperform

Page 57: 60 Law Practice Empowerment Tips
Page 58: 60 Law Practice Empowerment Tips

SAY GOODBYE WITH AFFECTION

– END OF ENGANGEMENT LETTER– BUT, A MARKETING LETTER

Page 59: 60 Law Practice Empowerment Tips
Page 60: 60 Law Practice Empowerment Tips
Page 61: 60 Law Practice Empowerment Tips
Page 62: 60 Law Practice Empowerment Tips

Let Me Google That!

You can find Peggy Gruenke on the Internet

Page 63: 60 Law Practice Empowerment Tips

Let Me Google That!

You can find Alan Klevan on the Internet