Improving Sales Using Early Indicators

Uncategorized Jul 21, 2020

Imagine you knew on the 10th of the month that you would not make enough money by the 30th to pay your bills and you could make changes then and avoid the calamity…

 

What if you could predict with certainty the revenue your firm would generate the next month? What could you do that you have been pushing off? Hire your next employee? Move into a bigger office space? Take home a bigger paycheck?

 

That is the power and importance of understanding the early indicators in the sales process. The early indicators will let you know you have a problem when there is still time to fix it.

 

What are early indicators? Tune in to this episode to find out what they are and how to measure and understand them.

 

Resources mentioned:

Law Firm Expansion Free Coaching Session: https://www.profitwithlaw.com/freecoaching

 

Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/

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Profit First in a Contingency Firm with Brandon Osterbind

Uncategorized Jul 16, 2020

Do you struggle with handling the finances in your firm? Do you want a guide for budgeting to help make the most of your revenue? In this episode, you will get insight into how the Profit First system is implemented in a contingency law firm. Brandon Osterbind, co-founder of Osterbind Law, started using Profit First in the third quarter of 2019. Since then he has seen tremendous growth in his firm and shares with us how Profit First has helped him change his mindset and strategies to amplify his profit.

 

Resources mentioned:

Brandon’s website - https://www.osterbindlaw.com/

 

Insight to Injury Podcast - https://www.osterbindlaw.com/podcast/

 

Episode 16 - Take Your Profit First - http://profitwithlaw.com/016

 

Episode 18 - Profit First Step-by-Step -  https://www.profitwithlaw.com/018

 

Profit First by Mike Michalowicz - https://www.profitwithlaw.com/profitfirstbook

 

Dave Ramsey - https://www.daveramsey.com/

 

Lawclerk - ...

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Tax Day and Revisiting 2020 Legal Industry Predictions

Uncategorized Jul 15, 2020

It’s Tax Day (finally!) in the United States. Moshe shares some reminders about deadlines and changes specifically for this special year.

 

It’s been 6 months (actually 7) since we released Episode 55 - Legal Industry Predictions for 2020 - and Moshe does a check-in, reviewing each prediction to see how we fared. He also adds some new ones for the second half of 2020. If you would like to know where the industry is headed and get in on the momentum, then you want to listen to this episode all the way to the end!

 

Resources mentioned:

Law Firm Growth Free Coaching Call

https://www.profitwithlaw.com/freecoaching

 

Episode 55 - Legal Industry Predictions for 2020

https://www.profitwithlaw.com/055

 

Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/

To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].

 

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Delegating to Freelance Lawyers with Kristin Tyler

Uncategorized Jul 09, 2020

Do you feel like you have to do all the work for your client? Are you overwhelmed by the lengthy tasks that don’t really need to be done by you? In this episode Moshe Amsel interviews Kristin Tyler, co-founder of LAWCLERK, and they discuss the solution to this very problem. Kristin enlightens us about the benefits of hiring freelance lawyers and how to utilize them. She shows us how to delegate certain tasks that don’t need to be done specifically by you. This episode can be life changing in freeing up your time!

 

Resources mentioned:

LAWCLERK - Use code: profitwithlaw20 to get $100 off your first project of $300 or more - lawclerk.legal

 

Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/

To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].

 

Connect with Moshe on:

Facebook - https://www.facebook.com/moshe.amsel

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Best Of: Profit First Step-By-Step

Uncategorized Jul 07, 2020

In episode 16 we learned the basics of the Profit First system and now we will do a Profit First deep dive. With these steps you’ll learn how to manage your money to create a healthy business.

 

One Time Setup

 When you first start there are three steps to setting up the Profit First system and you only have to do it once:

 

Step #1

Set up five bank accounts.

You and/or your accountant will most likely have some resistance to this. You may be worried about:

  • Cost
  • Paperwork
  • Excess Bookkeeping

Don’t worry about the cost because there are different ways you can get the fees waived.

  • Some banks don’t have fees
  • Some will waive the fees if you have a certain amount in the account
  • Some will waive the fees if you use multiple services from them

Change. You will have resistance because this is a big change, but don’t skip this step because it’s the whole point of this system.

The five accounts are split into:

  1. Income - all deposits...
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Becoming a Community Involved Law Firm with Morris Lilienthal

Uncategorized Jul 02, 2020

In this episode, Moshe Amsel interviews Morris Lilienthal. Morris has discovered how to achieve his purpose and do what he loves, while at the same time making his firm top of mind for everyone in the community. Morris has accomplished this by positioning his firm as a community participant, getting involved in the community through non-law related activities. Listen now to see the impact that has had in Morris’s firm and how you can achieve that as well.



Resources mentioned:

Join the Law Firm Growth Incubator - https://www.profitwithlaw.com/incubator

 

The Mo Show Live!: https://themoshow.live/

 

Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/

 

To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].

 

Connect with Moshe on:

Facebook - https://www.facebook.com/moshe.amsel

LinkedIn - https://www.linkedin.com/in/mosheamsel/

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Best Of: Take Your Profit First

Uncategorized Jun 30, 2020

Is your firm struggling with cash? Are you not bringing home enough money?
If the answer is yes, then it’s time to implement the Profit First system (from the book Profit First by Mike Michalowicz).

Owner’s Pay v.s. Profit

Before we get into anything let’s define Owner’s Pay and Profit.

Owner’s Pay is your salary for working.

Profit is what the firm made after all expenses were paid.

The Problem

What is causing this cash problem?

The root of the problem is human nature.

Mike Michalowicz likes to call what we do “bank balanced accounting” and that is where we naturally look at our bank accounts each morning and one of three things will happen:

  1. The account is negative and now you have to get it to positive before you get a penalty.
  2. There is little money in the bank, so you try to get extra work so you can get the money you know you’ll need.
  3. There is plenty of cash and what happens next is...
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Positioning Yourself as an Authority with Mike Saunders

Uncategorized Jun 25, 2020

When people are looking to hire a lawyer, they want someone who is authentic and the go-to lawyer of that practice area. In this insightful interview, Moshe Amsel and Mike Saunders discuss the many ways to build your authority. When you become the authority figure of your practice area, people will gravitate to you because you are familiar and knowledgeable. Listen now to discover the different ways you can become the go-to person for your potential clients.

Resources Mentioned:

Law Firm Growth Free Coaching Call - https://www.profitwithlaw.com/freecoaching

 

Mike Saunders’ Website - https://authoritypositioningcoach.com/

 

FREE Access to Authority Marketing for Law Firms Book - https://www.profitwithlaw.com/authoritybook

 

Get your first authority boost single or triple pack ($497/$997) and start positioning yourself for success today - https://www.profitwithlaw.com/authority

 

Podcast 2 Publish - ...

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You've Got Mail! with Andrew Stickel

Uncategorized Jun 24, 2020

In this eye-opening interview, Moshe Amsel and Andrew Stickel reveal the power of information products in your marketing strategy. They break down the basics of marketing and how to develop successful strategies in moving potential clients up the value ladder. With creative, insightful, and easy to understand examples, this interview will open your eyes to easier, simpler, and more profitable ways to market using your information products. 

 

Resources mentioned:

Business by Design - https://www.profitwithlaw.com/bbd

 

How to Get More Law Firm Clients by Andrew Stickel - https://freebookforlawyers.com/

 

Trello - https://trello.com/

 

Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/

To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].

 

Connect with Moshe on:

Facebook - https://www.facebook.com/moshe.amsel

LinkedIn - ...

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FREE Marketing!?!? Sign Me Up! With Sid Peddinti

Uncategorized Jun 23, 2020

Marketing can be such a struggle. There are so many different strategies that it’s hard to choose which one to use or know if it will work. Well, in this episode Moshe Amsel interviews Sid Peddinti, who shares the secret ingredient to marketing successfully: educating. Listen to this episode to learn more about how educating your audience through a non-profit education center can provide free lifetime marketing and an endless stream of clients for your law firm.

 

Resources mentioned:

Business by Design - https://www.profitwithlaw.com/bbd

 

Grants for Lawyers - https://www.profitwithlaw.com/freegrants

 

Living Forward Book by Michael Hyatt and Daniel Harkavy - https://www.profitwithlaw.com/livingforward

 

Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/

To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].

 

Connect with Moshe on:

Facebook - ...

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