If you are not currently serving business owners, now might just be the time for you to start.
You see, handled the right way, business owners are great clients because…
- They always need lawyers
- They have money to hire lawyers
- They are seriously appreciative when you serve them outside of the norm of the lawyers they are used to hiring.
Here’s three even better reasons business clients are great for lawyers:
1. Business Owners Are Busy
The owner of a business knows that she needs legal help. She knows she needs her business entity maintained. She knows she needs agreements. She knows she needs her intellectual property protected. She knows she needs her estate plan set up. She knows she needs a whole lot of things when it comes to reducing her risk, and she’s most afraid of what she doesn’t know. But, she’s too busy to get any of it handled.
If you can educate this business owner and provide streamlined systems that allow her to feel smart and good about the actions she is taking to ensure the well-being and care of her business, her team, her clients and herself, you will have a client for life.
The key is you have to make your legal services accessible (accommodating her business without sacrificing your own time blocking) and proactive (not waiting for her to come to you with a problem, but instead really getting to know her and her business and telling her what needs to be done rather than waiting for a problem to happen).
2. Business Owners Are Appreciative
When you pro-actively work with a business owner and really understand his business and then take the actions that allow him to relax into knowing it’s all handled, he will be a raving fan and tell everyone he knows about you.
Business owners are out in the community and connecting with other business owners all the time. One of the things they talk about is how they get their financial and legal matters handled. When you are doing a great job for a business owner (especially when it is far different than what they have experienced with other lawyers), you’ll be talked up all over town.
3. Business Owners Will Happily Pay You Recurring Revenue
Recurring revenue is the best kind of revenue for lawyers because it means you aren’t starting every month over at zero. Instead, you are starting each month with a guarantee of income coming in so you can relax, even if you don’t know where your next new client will come from.
Law Business Mentor, Denise Gosnell, has done really well with this model. She currently has 13 clients paying her an average of $4,000/mo, allowing her to start each month with around $40,000 of revenue coming in… before she even tries to engage a single new client.
(How would your life and business change if you could rely on that kind of monthly income??)
And the best part is that the business owners Denise serves are happy to be paying her for the peace of mind of knowing she’s working pro-actively on their behalf. That’s valuable to business clients.
Bonus Reason: Business Owners Are Easy to Reach
Marketing is easy if you are serving business owners. Business owners network. They read trade magazines. They are looking to build their businesses.
So, if you pick a specific business niche to serve (such as other lawyers, chiropractors, dentists, doctors, landlords, manufacturers, real estate agents, etc.) and then make the commitment to really get to know that niche, where they hang out, what their particular issues are, and what keeps them up at night…
You can easily get your phone ringing off the hook.
If you are starting every month over at zero trying to earn a living by serving people who can’t (or don’t) pay, aren’t appreciative, and don’t support your recurring revenue model, consider making a switch and serving business owners instead.
Are you ready to transform your law practice into the one you always dreamed of? Start here: