Have you found that your law firm seems to produce the same amount of revenue year after year? Have you gotten stuck on your way to a larger goal? In this episode, we explain why that happens and a simple process you can follow to overcome the stagnation and finally achieve the goal(s) you desire.
Living Forward by Michael Hyatt
The 90X Action Planner
Moshe’s Email Address
If you want a role model for solo firm business development, look no further than Charles Krugel. Charles is a solo firm owner in the Chicago area and has built a practice serving clients globally. He has been writing blog posts, running a successful LinkedIn group and speaking on stages for years. This episode is a must listen for anybody who wants to know how to perform consistent actions that will set up your firm for ongoing client flow for a long time to go.
Charles Krugel’s LinkedIn Page
Charles Krugel’s LinkedIn Group
Charles Krugel Labor and Employment Law and Human Resources Practices Group
Platform by Michael Hyatt
I want to share with you the lessons I have learned while training for a triathlon that can be applied to the growth of your firm.
These lessons came from the actual training plan itself and from my own experiences of preparing for this race.
Lessons From the Training Plan
Building a well thought out and strategic marketing strategy is essential to bringing in business. But, it doesn’t have to be difficult or expensive.
Building a Personal Brand
What does choosing a niche mean?
It does not mean choosing a practice area. It’s narrowing it down even further and choosing one aspect of the practice area you chose.
The Power of Niching Down
1. Why You Should Hire a Writer
A lot goes into a blog post, like:
As a law firm owner, you don’t have the time to learn and do all these steps. By hiring a writer, they can take care of all your content (blog posts and website content) with just a little bit of guidance from you.
Some writers will also help you in other areas to improve the impact of your blog. Those writers will guide you through those processes or will offer suggestions and referrals to other people that can help you. They’ll give you a few choices of ideas so you can pick one more easily. They’ll hook you up with the people you need or speak to someone who is already helping you.
2) Your Firm Website Needs to be Up to Date and Running Properly
Your website needs:
Now that you want to give flat fee billing a shot, how do you go about putting it into place in your firm and determining the prices?
Here’s a few pointers before we get into the details:
In the beginning, it’s good to compare your price to your hourly rate and how long everything is taking. Now take that number and increase it by 25%.
You want some breathing room because your data may be based off of bills where you cut...
Hourly Billing Pros and Cons
A true referral is when a prospective client comes to you with two things other prospects don’t have:
There are four types of referral sources:
What is it that You want?
Picture your life down the road in 10-20 years from now. Where do you see yourself in life? Where do you see your firm? What do you want to have accomplished by then?
Without knowing where you’re going, you’ll have a tough time making decisions and you’ll end up making ones that contradict each other. When you know where you’re heading, that vision will make your decisions clearer.
Take the time to clear your head and really envision where you want to end up in life.
Do you want:
When you do this exercise for your firm, you can take it one step further.