Check out this 2-minute clip of the video I made directly after my workout of me talking about you to our internal leadership team. I made it directly after my workout when something huge occurred to me about why knowing what to do simply isn’t enough. Too many lawyers are getting stuck in lives and law practices they don’t love because they are sure they know what to do, yet aren’t taking action. I thought this was important enough for you to hear that I’m willing for you to see me immediately post-workout. Enjoy!
Even if you don’t realize it, you already have a business model for your law practice. You inherited the “traditional law practice model” when you graduated law school and joined the ranks of hundreds of thousands of lawyers who are doing things the way they’ve always been done. But, since you’re here reading this article, I’m willing to bet that you’ve since become aware that you cannot build a sustainable and fulfilling law practice using the traditional law practice model.
You wouldn’t be reading this if you didn’t want to make a change in your life and law practice. Yet, I’m guessing that you haven’t yet taken many actions to make that change. Am I right? Or, maybe you have made some changes, but you want to make more…Of course you do! The traditional law practice model we were all taught is simply not conducive to having a life you love. And, it doesn’t even allow you to serve your clients in the highest and best way possible. You know it. They know it. But few people know what to do about … Continue reading
You’ve heard me say it here repeatedly, the traditional law practice model is broken. And, if you do not make a change in the way you practice law and serve clients, you are going to get caught behind the 8-ball, and keep struggling and maybe even give up the practice of law altogether. And with the rise of technology like estate planning software for lawyers, and do it yourself legal document drafting systems for consumers, you might have extra reasons to think you have to compete on fees to get hired. But, you don’t. And trying to compete on fees … Continue reading
Is your law practice model working for you? I mean REALLY working for you? Are you earning the income you envisioned possible for yourself when you started your law practice? Or, do you have the income you deserve, but only making that happen by sacrificing your personal and family life? Are you afraid of making changes, even if making those changes could bring significantly better outcomes in your law practice? If so, read our big announcement here with two sets of eyes: one set focused on what I am saying and how our big shifts will impact you and the other … Continue reading
One of the lawyers in our New Law Business Model coaching program recently asked us to help her decide between 4 different potential practice models for her law practice. She wanted to know how much she could make if she was working 5 days a week under the following scenarios: Just the lawyer at the firm handling everything, including drafting documents. Just the lawyer at the firm handling everything, but outsourcing drafting documents. Lawyer and one support staff person handling everything, including drafting documents. Lawyer and one support staff person handling everything, except outsourcing the drafting of documents I thought … Continue reading
“So I have a strong background in investment math and cash flow model, so I get this completely… 100%. My question is, Will lawyers understand this?” “I don’t know. But they need to. Because if they can understand this, everything changes.” This week, my copywriter, Eric and I were pow-wow’ing, brainstorming on our marketing campaigns, and getting clear on what you’d need to hear/know to decide if our membership programs are right for you and your law practice. (Do you have anyone to brainstorm your monthly marketing campaigns with? If not, you should. And, that’s something we do with … Continue reading
There is a reason most law practices fail, even those that appear to be successful for the lawyers that own them. It’s not bankruptcy. It’s not the sudden loss of a partner or leader. It’s not fraud or malfeasance. It doesn’t even look like a regular business failure. Failure, defined simply, is not accomplishing an aim or purpose. What was the dream law career that inspired you to study for the LSAT, apply to law schools, work your butt off through the three years of classes and exams, and then take and pass the Bar?
AND How To FIX them! In my last post, I revealed the reason why most lawyers and law practices fail themselves and their clients. Judging by the dozens of email replies over the weekend, it struck a nerve. This post is the follow-up, this time with actionable takeaways. Let’s get right to it. This is my list of the most common law practice mistakes I see lawyers making, year in and year out. I discovered these mistakes after nearly bankrupting my own law practice (and life) by following the traditional “successful lawyer” law practice-building advice and then coaching thousands of … Continue reading
A very important concept that we talk about at Law Business Mentors is the creation of a solid client engagement system. We often advise that lawyers not invest any money in marketing until they have a process and system for engaging clients set up and working. Why? Because without a client engagement system in place, you will not be able to properly engage your prospects and can end up losing them as a client, after having invested time and money to get them interested in the first place. However, you’re still running a law practice and you can’t just … Continue reading