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the guidance you need to build the practice you want

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Law Business Manifesto

Category Archives: Law Practice Financials

3 Signs your Law Practice is Going to Fail

Hating your practice is not enough to tank it. True, some lawyers lose decades of their lives to practices they hate, but they just keep turning the crank… “time to make the donuts.” At the same time, lawyers who love their law practice go out of business every day, and it’s a tragedy we are committed to transforming. Like everything else that requires real change, the first step is awareness. Here are 3 tell tale signs that portend not only the collapse of a lawyer’s practice, but often their family and their lives. Sign #1 — Contained Chaos When your … Continue reading »

About the Contributor
Craig Allan
Craig Allan is co-founder and President of New Law Business Model. He has over 11 years experience building marketing-based businesses with integrated online systems. Craig believes that family is the most important unit of society and feels lawyers have a unique responsibility to positively impact families, communities and future generations.

10 Actionable Steps to Engaging More Prospects

It doesn’t matter whether you’re just starting out or you’ve been at it for a while, if you want to build a successful law practice, you’ll need to know how to turn prospects into clients and charge the fees that you deserve. When I first started my practice, finding a way to get my prospective clients to hire me was the biggest obstacle that stood between me and success. But, as you know, after much investment and learning, I turned my practice into a 7-figure revenue generating business. How? Well, over time (and with a whole lot of trial and … Continue reading »

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

Q&A: If Your Program Is So Good, Why Did You Go Bankrupt?

Why did Alexis Neely file bankruptcy? This really is the elephant in the room, isn’t it? If my law practice was so successful and I was making more than a million dollars a year in revenue, and only working a few days a week, why in the world did I file bankruptcy? And, can you trust me to guide you in creating a life and law practice you love? I’m by no means a person of ‘victim’ mentality, but the facts are the facts and I’m going to share them with you. I’m going to be totally transparent with you (as … Continue reading »

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

7 Reasons You Should Add This Niche to Your Practice

Whether you are looking for an additional revenue stream for your law practice, or to switch from a law practice area you detest… There is one niche in particular that you should consider, first. It might seem like the last one you’d consider, but stay with us. There’s more to it than meets the eye. What is it? Estate planning. You see, even if you’ve been practicing for years, you can add estate planning to your services. The same goes for being a new lawyer fresh out of law school… It’s actually really easy to incorporate this lucrative and fulfilling … Continue reading »

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

6 Steps to Turning Clients into Raving Fans (Who Refer You to Everyone)

The two most important systems in your law practice are your system for engaging new clients, and your system for serving those clients in such a way that they become raving fans. My last article laid out 7 steps to a great system for for engaging new clients in your law practice. Today’s article will focus on your system for turning those clients into raving fans by keeping the connection with them AFTER they leave your office. Think about it — once you have engaged your client, collected a check and signed engagement letter, then what? In most law practices, … Continue reading »

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

3 Reasons To Write A Business Plan For Your Law Practice (Even Now!)

Remember that class you took in your second semester of law school… The one where you carefully laid out your vision for how your law practice would look, feel, function and flow cash from one month to the next? Right. You didn’t have that class. You learned how to “lawyer” in law school. Running a law practice is an entirely different skill set, and it begins with admitting that there are things you don’t know. “Failure to plan, is planning to fail.” ~Benjamin Franklin Fortunately, these things are knowable, and the best part is, you can make many of the … Continue reading »

About the Contributor
Craig Allan
Craig Allan is co-founder and President of New Law Business Model. He has over 11 years experience building marketing-based businesses with integrated online systems. Craig believes that family is the most important unit of society and feels lawyers have a unique responsibility to positively impact families, communities and future generations.

5 Reasons Why You’re Not Engaging Clients to Your Law Firm

In a previous post, I promised to write about how and why client engagement goes off the rails for many attorneys. As I reflected on that, it dawned on me that there really are only a few reasons people don’t engage with me… All but one of of which I have some measure of control over. I’ve found five main factors when we fail to engage a client. They are: 1. Slow Handling of Inquiries/Leads If someone expresses an interest in your firm, jump on it within 24 hours. Someone who has reached out to your firm absolutely MUST be … Continue reading »

About the Contributor
Martha Hartney
Martha Hartney's is a successful Estate Planning lawyer in Colorado and co-creator of the Estate Planning Bootcamp. As a Law Business Mentor her greatest hope is to help other lawyers claim, or reclaim, the joy and the spiritual pursuit of being a lawyer.

Lawyers Ask: How Do I Make More Money? (Part 1)

It seems like such a simple, even harmless question. The answer is both obvious and elusive. How do I make more money? There are three problems with asking this question: Problem #1 — Attitude. It’s not what you make, it’s what you keep. Further more, it’s how you enjoy what you do have and the journey of growing what you have. If you’re constantly spending as much (or more) than you make, you’ll always feel broke. You’ll be on the treadmill of dread and the fulfillment of a great practice and great income will elude you. You’ll always be wondering … Continue reading »

About the Contributor
Craig Allan
Craig Allan is co-founder and President of New Law Business Model. He has over 11 years experience building marketing-based businesses with integrated online systems. Craig believes that family is the most important unit of society and feels lawyers have a unique responsibility to positively impact families, communities and future generations.

11 Ways to Increase the Value of Your Practice

Wouldn’t it be nice to have the option to sell your business in the future for a hefty price? The good news is that there are proven strategies you can use to increase the value of your practice and make it attractive to potential buyers. Whether you want to sell your business next year, in 5 years, or just want to have the option in the future, you should start laying the groundwork today to make it a possibility. And while this article was originally written for my business clients, I’m confident you will be able to find the parallels … Continue reading »

About the Contributor
Denise Gosnell
Denise is an entrepreneur who also happens to be an attorney. She owns multiple companies, including a consulting company called Denise Gosnell Consulting, Inc., where she writes various courses and books. One of her other companies is her law firm, Gosnell and Associates, P.C. where she serves Technology, Information Publishing, and Coaching companies as Intellectual Property and Internet legal counsel. She formed her own law firm about ten years ago after working for a large law firm prior to that. She also used to be a software engineer for over ten years before she became an attorney. Over the years, she has authored and co-authored 8 books on technology and business topics, and is currently a blogger for the Huffington Post on various legal and business topics.

Why Are So Many Lawyers Broke?

Many people don’t believe it. Even lawyers are known to scoff at it. But many of you know the truth — you go to law school, spend a small fortune and come out to find the pickings are lean. Looking deeper than 6 figure school loans and the trend of fewer Big Law positions available to absorb the glut of new law school grads every year… Let’s examine the real reason why so many lawyers are broke. “…the number of jobs in small firms has generally been increasing in recent years, and for every job in a large firm taken by … Continue reading »

About the Contributor
Craig Allan
Craig Allan is co-founder and President of New Law Business Model. He has over 11 years experience building marketing-based businesses with integrated online systems. Craig believes that family is the most important unit of society and feels lawyers have a unique responsibility to positively impact families, communities and future generations.