How to Reach Your Audience and Build a Culture of Trust with Taylor Darcy

business growth business leads investment returns law firm legal services mindset pricing Sep 01, 2022

With fast-paced work and an often-competitive environment, finding the right moment to invest big in your business can be tricky. How do you ensure you get high investment returns? The threat of failure looms above you when you have to make big decisions for your firm. But for today’s guest, there’s no “perfect time” to start strong.

Joining us in this episode of Profit with Law is Taylor Darcy, a California-based lawyer and the owner of Think Legal PC. He shares with us his career journey. Taylor also talks about why starting big and making cutthroat leaps can help you climb to the top faster.

If you are contemplating big moves for high investment returns, you’re in luck. This episode can guide you to make a better choice.

Here are three reasons why you should listen to this episode

Understand why going all in at the start of its business leads to high investment returns.
Learn how to extend your values to build a culture of trust with your potential clients.
Know the formula for crafting the most ideal pricing model for your law firm.

Resources

Interested in widening your business perspective? Grab a FREE Law Firm Expansion Coaching Session with one of our coaches. Slots are limited, so grab yours before they’re gone!
Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.
Do you have a success story or an incredible journey you'd like our listeners to know about? Be our next guest by sending an email to [email protected].
Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.
Episode 26 - The Death of the Billable Hour
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The 2019 Clio Legal Trends Report

Episode Highlights

Taylor’s Law Career

Taylor Darcy is a California-based attorney and the founder of Think Legal PC.
He believes flat fee systems and outstanding client service are the foundations of a future-oriented law firm.
Taylor grew up with parents who are serial entrepreneurs. His background allowed him to learn of the ups and downs of living an entrepreneurial life.
Taylor recalls how a bad contract with one of their clients put their carpet business in jeopardy. This convinced him he wanted to give struggling businesses access to legal services and have a voice to defend themselves.

Taylor: “I went to law school and passed California State Bar on the first attempt. And that’s who I help — I help small businesses with legal catastrophes. Ideally, that’s kind of how I came to be.”

A Value Dedicated to Small Businesses

Taylor’s relentless devotion to campaign for small businesses is a product of his life story and his experiences working with start-ups and small industries.

Taylor: “People will find the money for the things that they value. If you want people to pay for your services, they have to see that the value is there.”

According to him, there is an outstanding correlation between the money business owners invest and the longevity of the service.
Getting into the business today is often not a hassle. The root of the problem in sustaining it is not the business idea but the owner’s lack of consistency.
Taylor believes most businesses don’t succeed because of a failure in mindset and investments.
The “employee mindset” hinders a business owner’s decision-making process.

Taylor: “The most successful [businesses] are the ones that go all in. The ones that spend the money on legal, accounting, and do the things right the first time.”

Pause and wait for the opportune moment. When you have the budget for it, go full throttle for high investment returns.

Building a Culture of Trust

Get upfront with your target and engage with them by building familiarity and trust.
Google reviews and local service ads are essential to gaining leads and referrals.
Taylor’s YouTube channel and podcast helps establish his name. It allows people to see him as something other than a businessperson.

Taylor: “My intent is not to get people to call me because of those things. It’s to help people see that I do have your best interest at heart and that I’m trying to give you value before I’m expecting your money.”

With the importance of building rapport, simply tuning in to your podcast or watching your videos online can establish a one-sided relationship with your audience.

The Cost of Making an Investment

Taylor took his time before getting familiar with his platforms today. He found that automation provided high investment returns for revitalizing his processes.
Measuring their return of investment (ROI) is challenging. He relies primarily on reviews and the close rate he gets from people tuning in from YouTube.

Taylor: “People that don’t watch those videos or don’t listen to my podcast, it’s harder to close, because [for them] I’m just another attorney.”

YouTube allows monetization of your content. Tune in to the episode as Taylor shares the steps he went through to gain traction and followers.
Beyond monetization, the YouTube channel helps Taylor build a relationship with potential clients.

Moshe: “Grab relationships with other attorneys that you can send the business to, where ultimately if they get something in your area, it’s coming back at you.”

Effective Promotion for Global Viewership

Advertising on YouTube is the least expensive, according to Taylor.
If you have a state-specific service, you can still efficiently market your videos with Google.
Choose topics for a more universal audience and adjust the title to the state where you practice for high investment returns.

Taylor: “There’s a lot of targeting that you can do. From an ad perspective, for organic, you have to tailor your videos to what’s unique to your area.”

Some people recognize generic keywords will only prompt broad answers. Specifying a location in your title makes the video more accessible to target viewers.

Building a Sustainable Pricing Model

Taylor’s subscription services may not be ideal for short-term contracts; it’s best for long-term contracts, large employee networks and companies with a broad client reach.
Taylor is not a big fan of the billable hour system or underpricing services. He looks at the value of his service when developing its pricing model.
Coming up with sustainable pricing starts with computing your costs in time and necessities. Identify future goals, like your company’s position in the market.
By personalizing his service, clients can see that its value is greater than the price they have to pay.
The more you step up and raise the price of your service, the better your position will be in selling yourself.

Taylor: “They complain before they hire me, but they don’t complain once they’ve hired me because I show them the value time and time again.”

Why the Billable Hour System Is Evil

Your relationship with clients is the key to a successful law practice.
Charging per hour discourages potential clients and makes them feel less comfortable sharing their concerns with you.
Taylor recognizes how abuse of his flat fee contract may force him to impose an hourly rate on a client.
While the billable hour scheme is not ideal in most cases, litigation practices or cases with an unpredictable timeframe may be some exceptions.
There are many alternative fee arrangements, aside from flat fees and subscriptions, that can help you achieve profitability. Some may include value-based systems and contingency approaches.

About Taylor

Taylor Darcy is the founder and CEO of Think Legal PC, a California-based law firm dedicated to representing entrepreneurs, startups, and small industries in matters of corporate, securities, contracts, and intellectual property among many other practice areas.

Think Legal PC has served various businesses in sectors such as healthcare, financial services, construction, and non-profit services to name a few. They take pride in serving as empathic advocates to address clients’ day-to-day legal matters.

If you want to know more about Taylor and Think Legal PC’s flat fee services, you may send a message through https://thinklegalpc.com/contact or call (858) 956-5878.

Stay updated with their blog to gain a front seat on what’s new in the legal profession and business.

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