Black Swan Events Part 2: Preparing for the Unexpected
We previously discussed “black swan events”—highly disruptive events that are unpredictable before they happen—and how such events might throw your law firm plans into jeopardy. What, if anything, can you do to prepare for a black swan event so it doesn’t kill your dream if/when it happens? Preparing for the Unexpected The obvious […]
The Dangers of Growing Your Law Firm Too Fast
As an entrepreneurial attorney, you naturally want your law firm business to grow—and my own firm is built around providing law firms with the tools and techniques needed to cause tremendous growth. But when those tools and techniques actually start producing results—and they will—are you prepared for the growth? What happens if your business grows […]
Law Firm Growth Tip: Start Where You Are, Not Where You Want to Be
Have you ever watched a skyscraper being built? It’s a fascinating process. Watching a building grow taller week after week can be almost exciting. But if you’re around at the beginning of it, you’d almost never realize what was about to happen. In fact, it’s downright boring. Clearing the land. A lot of trucks and […]
Increasing Revenue for the Firm: When CLE Is Probably NOT the Answer
When treated as a strategic tool, Continuing Legal Education (CLE) can definitely create a revenue boost for your law firm. However, there may be other problems restricting your cash flow that CLE will not solve—and deferring to it in those cases basically amounts to procrastination from dealing with the real problems plaguing your business. Let’s […]
Increasing Revenue for the Firm: When CLE Might Be the Answer
Continuing Legal Education (CLE) is frequently a double-edged sword for attorneys. Some states require lawyers to take a certain number of CLE courses to keep their licensing current. In other cases, we need CLE if we want to focus on a particular concentration or to remain current. Even so, going back to school—even a little […]
Getting “Buy In” From Your Family to Build the Law Firm of Your Dreams
Life is not a solo act. It’s a huge collaboration, and we all need to assemble around us the people who care about us and support us in times of strife. –Tim Gunn No man is an island unto himself. –John Donne You can’t conduct business in a vacuum, and you won’t achieve success by […]
Strategies for Getting Your Law Firm Clients to Pay You Fairly and Promptly
We’ve previously discussed that, as a law firm offering professional services, you should expect clients to pay you in a timely manner. However, rather than simply demanding payment, you can take steps to make it easier and more convenient for them to pay on time than to pay late. Let’s discuss a few of these […]
Why You Need to Make Sure Your Law Firm’s Clients Pay You, and On Time
We’ve all been there. You put in plenty of hours in good faith to perform legal services for a client, you send the bill, and when it comes due…crickets. Late payments have become so common, in fact, that most of us just think of it as a fact of life. Need proof? Consider the following: […]
The Wisdom of Saying Goodbye to Problem Clients
Provocative thought of the day: You’ve got some clients you don’t need. It’s okay to say goodbye to them. In fact, it very well may be necessary to your success. What? you might be thinking. Clients mean money! Why should I say goodbye to money? Ever hear of the Pareto Principle, otherwise known as the […]
Ways to Bring Unexpected Value for Your Law Firm Clients and Make Them Raving Fans
Money is one of the rewards you get for adding value to the lives of others. —Paul McKenna You build a successful law firm by adding value to your clients. You get rich by adding exceptional value to your clients. By innovating your business and going the extra mile, you can position yourself in […]