Bigstock-success-and-winning-concept---53462125

Finally! An Intensive Legal Workshop That Trains Your TEAM On Practice Success

You’re only one person, and if you want to be successful in your practice, you need to be focused on doing ONLY that which makes you the most money—serving clients, networking with key advisors and handling legal matters.

You should not be answering the phone.

Bigstock-success-and-winning-concept---53462125You should not be “babysitting” staff members so they stay on track.

You should not have to get too involved selling your services, either (hint: your staff members should be your most profitable evangelists… if they are not, you have a problem).

 …Plus so many other things that you may find yourself “stuck” handling on a daily basis.

 Your team members really don’t want to let you down or add more work on your plate; they simply don’t understand where they fit in the big vision of your practice or how to move beyond their “9 am to 5 pm, punch a clock” conditioning that they’ve been taught their whole lives.

That’s why at our Tri-Annual Practice Retreat this year in St. Louis, we are devoting two entire days to training your team for practice success mastery (June 4th and 5th).    

We are going to transform your staff members into the most profitable assets of your practice!

This training includes our Firm Retreat, which is a dedicated, uninterrupted half-day where we will help create YOUR personalized Law Firm “Money Plan™" that will equip each staff member with a step-by-step blueprint to hitting your revenue goals in just four months! 

No more “it’s not my job” attitudes. No more “9-5” mentality. 

Our team training event will empower your staff members to work your practice as if it were their very own business and their own capital on the line. 

Sound good?

Then don’t wait to register for our Tri-Annual Practice Enhancement Retreat.  Bring your staff members to this intensive event but don’t wait, doors close in less than 30 days (May 15th)!  To view the full agenda and pricing information, visit: www.retreat.lawyerswithpurpose.com

Molly Hall

P.S. Think about all of the training you’ve attended to learn how to grow your practice and push beyond limiting beliefs and habits. Why shouldn’t your key staff members do the same?  They arguably have the most interaction with your clients and help steer your practice ship each day.  Make the wise choice to invest in their success to boost your own: www.retreat.lawyerswithpurpose.com

 

Bigstock-Speaker-at-Business-Conference-65279563

Train The Trainers: Speakers School

People are constantly writing LWP about what a phenomenal speaker Dave Zumpano is, “That guy you brought in to lead that presentation on IRAs was fantastic, I never attended a CLE event that kept me engaged and I actually felt like I had fun!!”

Bigstock-Speaker-at-Business-Conference-65279563This is not a “Dave” thing.

On the Practice with Purpose™ evaluations the speakers are rated a 10+++. This is not a Victoria, Susan or Jeff thing.

You’ve heard the saying “Some people have it, some don’t.” At LWP we believe “Some people have the formal training, some don’t.”

The Craft of Training is the ultimate train-the-trainer curriculum. Bob Gabor, Co-Founder of Ridge Associates has experience creating world-class facilitators for over 35 years. Bob has taught the Train the Trainers™ program for the LWP speakers and he’s back to do it again and kick off the June Tri-Annual Practice Enhancement Retreat with a Two Day Pre-Cursor Training.

Train the Trainers™ not only offers new trainers a fast ascent up the learning curve of training,  it’s also valuable for seasoned trainers who want to learn the secret to creating learning magic in the room.

What you’ll GET…

Learning Goals

The Craft of Training gives trainers the skills to enrich the quality and impact of learning. Participants will practice and get feedback in three performance-critical areas: platform skills, facilitation skills and process skills.

Platform Skills

  • Organizing and delivering presentations to teach content crisply
  • Dramatizing their message with effective body language
  • Preparing and presenting visual aids that drive home key points

Facilitation Skills

  • Making presentations interactive by drawing on participants’ expertise in a nonthreatening way
  • Listening skills to honor the questions and concerns voiced by participants
  • Leading demonstrations, skill practices, and activities to foster maximum skill development and application
  • Coaching to refine participants’ skills

Process Skills

  • Responding to questions with poise and persuasiveness
  • Debriefing to harvest learnings, forge applications, and demonstrate acceptance of participants’ experiences
  • Preventing resistance to create a positive climate for learning
  • Managing resistance to make the most of learning opportunities

AND……

  • Practice. Participants practice the skill that’s just been explained and demonstrated, using actual situations they face in a workshop setting.
  • Feedback. Each participant receives behavioral feedback from the trainer and peers, and each person will walk away with a personal video and a video coaching session.
  • Putting humor in your presentations
  • Learn how to "anchor" your message
  • How to engage your audience
  • Sequencing and transition in your presentation
  • From platform paralysis to platform perfection

What differentiates Ridge Associates in their Train the Trainers™ Program is the way they teach their training skills: participants will leave this program prepared and inspired to achieve more the very next day. With a suite of customization, reinforcement, and delivery methodology your training and speaking skills will differentiate you in your marketplace, every time.

Train the Trainers—A Speakers School is LIMITED to the FIRST 20 people so reserve your seat NOW as the program will SELL OUT. To register go to click here.

Molly L. Hall, Co-Founder, Lawyers with Purpose, LLC, and author of Don’t Be a Yes Chick: How to Stop Babysitting Your Boss, Transform Your Job and Work with a Dream Team Without Losing Your Sanity or Your Spirit in the Process.

 

 

 

Blog_taper (1)

Registration For LWP’s Tri-Annual Practice Enhancement Retreat Is OPEN!

Molly here from Lawyers With Purpose.  Just a quick heads up that we’ve opened the doors to register for our Tri-Annual Practice Enhancement Retreat, happening June 1-5 in St. Louis, MO.

Blog_taper (1)You won’t want to miss the opportunity to attend one the industry’s most in-depth training programs for Estate and Elder attorneys (and their teams!), focused on helping you:

  • Freshen up on your legal/technical knowledge and discover new lucrative offerings to weave into your current business model;
  • Stay up-to-date on changing laws and best practices that affect your business;
  • Learn how to host consumer-focused presentations, effortlessly fill the room and master the art of “speaking to sell;”
  • Implement guerilla marketing strategies for any budget that work right away to fill your calendar with high quality estate or elder law clients;
  • Develop your legal team into efficient and productive staff members who come to the office each day excited to serve your clients with excellence, become your greatest evangelists in the community and love your practice as if it were their own.

It’s a weeklong event with many different trainings and focus sessions to choose from based on YOUR unique needs and the needs of your staff members.  Here’s just a little taste of some of the focus sessions and programs offered:

  • Mastering The Business of Law -  A roadmap to increasing office efficiency and revenues.
  • Adding Insurance Services To Your Law Practice
  • Train the Trainers: Speaker School- Learn a more strategic way to give presentations that leaves audience members rushing to the podium after your talk to sign up to work with you!
  • Legal/technical training, including: General Medicaid Laws & Rules, Penalty Period Scenarios, Crisis Planning, Debrief of VA Benefits, Trust Fundamentals, Design Strategy, Strategic Planning for Qualified Assets and more.
  • Converting Prospects Into Paying Clients– Mastering Client Attraction and Retention, Enrollment with Initial Contact and Initial Meeting and Value Proposition Pair Practice.

Click here now and register today to make sure you reserve your spot!  The full agenda is now live for your viewing. 

This is your chance to learn from some of the most respected and successful leaders in estate and elder law. These are attorneys that have grown their practices to seven figures and beyond, are doing what you want to do and will openly show you their secrets and how to duplicate their success without costly learning curves or trying to sell you something. 

We promise you’ll be ready to hit the ground running with new strategies and plans for explosive growth your first week back in the office

Jump ahead now to view the full agenda and decide what portion of the program you’d like to attend… or again, consider joining us for the FULL week.

Have questions?  Just email me at mhall@lawyerswithpurpose.com and let me know what’s on your mind.  I’m happy to personally jump on a call with you and walk you through your options.

Hope to see you in St. Louis!

Molly

Don’t wait: http://retreat.lawyerswithpurpose.com/

 

Bigstock-Community-with-Diverse-and-Mul-62231654

Tactics To Drive Your Community Outreach

Based on changes in buyer behavior, traditional forms of advertising such as billboards, Yellow Pages and television ads are becoming less and less relevant in today’s marketing plans.  They just aren’t getting the reach they used to.  And, as the old saying goes, it takes 7-10 touches for someone to react, so you have got to do all you can to cut through the noise and get those touches!

Bigstock-Community-with-Diverse-and-Mul-62231654In order to make the most of your marketing, you need to be constantly present, showing up and reaching your prospects.  The Lawyers With Purpose Marketing Plan has a three-pronged approach.  There’s wholesale marketing, retail marketing, and community outreach.  Today I will address the community outreach piece by asking a simple question: How are you marketing in your community to build awareness of your brand?

The thing I love about community outreach, especially for estate and elder law attorneys, is how effective it is for a business looking for local customers.  It really is a win-win. By giving back to the community, you help those in need, all while supporting your marketing efforts by promoting and increasing awareness of your services. 

By participating in community outreach, you’ll improve the community’s perception of your company.  And with that you will build your prospects as well as customer loyalty.

The bottom line is that people want to do business with people – not businesses!  This is especially true when it comes to their estate planning needs.  People make purchase decisions based on emotions, and estate planning is an emotional process for your prospects.  If your firm supports a cause, you give prospects a good reason to connect with you on an emotional level.  Period.  It’s really that simple. 

I was on a conference call recently with a power partner, and he told me, “You know I love estate and elder law attorneys!  They are really like no other that I have come across before, and they just aren’t like most attorneys!” I couldn’t agree more.  You all are truly in a field that connects with others on a relational and emotional level.  Helping pass on their legacy and protect their families and all they have worked for, that’s HUGE!

The potential that lies in your community outreach is clearly synergistic if you think about the possibilities for estate planning and elder law to support causes.  So we want to leverage this potential to grow your business in your community, and we can do that by including community outreach initiatives in your marketing plan.

Here are some examples.  It makes sense to sponsor the local living facility bingo night, or participate in the Alzheimer’s walk (with your firm shirt and logo) for an estate and elder law attorney.  If you're an LWP Member, you’ll find on the members website a complete list of national marketing events for 12 months out of the year. In March alone there are 14 things on there! 

One that I really like is “Save Your Vision Month.” You connect with ophthalmologists in your area, go down to the local living facility and provide eye pillows, magnifying glasses and a Q&A fact sheet on eye care.  Or for April there are another 12.  One thing that really popped up for me was “National Oral Health Month.”  You could work with a local dentist and pass out those plastic zip lock bags with free toothbrushes, mouthwash and floss, and you can include your business card because there’s a pouch right in them to hold cards.  You could donate that to a health fair or a living facility in your name.  Think of the referrals you can get from that, as well as from the dentist with whom you’ve created a power partnership.

The point is, if you pick from these things and reach out to your community, get involved and share what you are doing to bring awareness to them, it does distinguish you in the marketplace and raise TOMA (Top Of Mind Awareness) so you’re not always showing up selling and asking people to come to your workshop.  You just participate, support and connect.

And always have fun with it!  Make it a team effort, brainstorm possibilities with everyone in your firm, and work together to be sure you are engaging everyone to really make it a hit.  Make it meaningful to you and your team, something that stirs their passions.  I’ve seen this become something that firms have great fun with, coming together and locking arms for a cause that helps all involved – which makes it a huge success!

When you offer a quality service, AND you support an initiative that you believe in, that’s community outreach at its best!  It’s your business taking the time to care about both your clients and your community!

It’s about finding blue ocean. “Blue Ocean Strategy” is a book published in 2005 based on a study of 150 strategic moves over more than 100 years and 30 industries.  It shows that companies can succeed not by battling their competitors, but rather by creating “blue oceans.”

The concept is that there are red oceans everywhere.  They represent all of the industries in existence today – the known market space in which everyone competes. In red oceans, your marketing is well understood, your competitors are doing the same thing you are, and everyone is trying to outperform the competition to grab prospects and fill their workshops.  As that space gets more and more crowded, prospects dwindle.  The frenzied competition turns the water bloody.  This is red ocean.

Blue ocean strategy asserts that the strategic alternative is to leap into other territories, or waters if you will, where you’ll stand out from the competition and be relevant. By doing this, you are creating blue ocean, clear waters where you are showing up.  And your community outreach really captures this blue ocean concept. (Wiki reference)

So, what can your firm do to benefit your surrounding community? Brainstorm with your team!  Think about sponsoring a community event, taking time to donate to or volunteer at a charity – you can do this without ever writing a check. You can do a food drive where you ask people to drop off cans of food for a cause. By taking this positive initiative, your business helps others in need while increasing its marketing success. What could be better than that?

Once you have a plan in place, you must also be sure to tell the story.  Share it with as many prospects and referral sources as possible. This is where social media, your blog and your website become key players.  You can also do this via a newsletter that you email or mail out, or by putting a flyer out in your conference room or in the reception area of your office so you are sharing it.  Make mention of it at your client appreciation events.  The key is to share the story with as many of your connections as you can. Be sure to take pictures, or even a short video.

Distribute the content to your entire network.  Don’t be shy. I know I’ve mentioned this statistic before, but there is a recent study showing that each of the people you reach out to results in an additional 20 contacts through your networks.

You do the math – the reach of your community involvement adds up quickly. 

And make sure you are letting your community connections know how to get in touch with you on every piece that you share on this.  You website URL, phone number, social icons, and email are all included on everything.  Put the event on your website so people it’s reaching can go to see more, connect with your firm and reach out to you if they’re interested. This drives referrals and will increases your pipeline and workshops! 

Always remember that your activity breeds other activity and you never know who might be watching. Community outreach helps you build your brand, which always drives your marketing.  That helps you get found through all the other noise, which gets the phone to ring, which ultimately leads to growing revenue!

If you're an estate or elder law attorney and want to learn more about marketing your estate practice, join us for our Tri-Annual Practice Enhancement Retreat June 3rd – 5th for 3 days of technical legal, marketing and collaboration!  You do not want to miss this event and we sell out each time.  Reserve your spot now.  For registration information contact Kyle Russ at kruss@lawyerswithpurpose.com.  

Roslyn Drotar – Lawyers With Purpose, Internet Marketing Strategist.

 

Bigstock-Budget-Word-on-strings-65283823

Getting Smart With Your Law Firm Marketing Budget – Part 2

In our previous post Getting Smart With Your Law Firm Marketing Budget – Part 1 we discussed how to cut your marketing budget, and also how not to. Now let’s think about some cost-effective marketing strategies that we all should be doing!

Some marketing techniques to consider:

Bigstock-Budget-Word-on-strings-652838231) Step Up Your Social Media Activities If You Haven’t Already

If your customers are active on social media, then you should be too. When marketing dollars are low, bump up the time and resources you allocate to Facebook, Twitter, and LinkedIn. Claim your business listing on sites like Google Places, Yelp and Yahoo Local.  Make sure you monitor those sites and respond to any review. Start a blog, or reinvigorate your existing one. This costs you only your time.  I know time is important, but it is a resource, and if you aren’t spending money on marketing, you’ve got to be spending time.

2) Use the Power of Referrals and Don’t Be Afraid To ASK!

Referrals are free and a great tool for spreading the word about your business. Make certain you are asking your clients for them at your synergy meetings and strategy meetings.  Run a promotion for “friends of our family” – start a marketing campaign to get existing clients you like and enjoy working with to refer to you.  Reach out to them and tell them that, because you like them, you are willing to give “X” to anyone they refer, either a family member or a friend who contacts you within 48 hours, and then decide what that offering is.  Maybe it’s a complementary year on your maintenance plan or DocuBank.  Be creative and show value to get that phone to ring. 

I say to offer this to clients you enjoy because people hang with people like them. Just make sure you have a clear offering and a timeline attached to it.  That will get action. 

3) Sometimes You Need To Refine Your Marketing Before You Cut – Sometimes Simple Is Better 

 I often see logos with fancy taglines that say something like “helping families pass on their legacy.” What do you think that means to people exposed to your brand or logo?  What if they had no clue what you do and just saw your firm name (say for example it’s Law Offices of Joe Smith) with that tagline?  Do you think they would know exactly what you do, and all that you do?  Instead, say something like “helping your family with their estate planning goals” or just “the estate planning professional for your family.”  Sometimes too fancy doesn’t connect or resonate.

So ask yourself, how can you refine your tagline – or any other strategy you have – to strengthen your marketing message and grow revenue?

4) Get Out in Your Community

Another low-cost but high-profile approach that works well for small businesses is getting involved with community events and programs. We have a listing on our members site of national events by month. Look at it, and find some events where you can reach out to your community and support them.  A business that is active in the community often wins the hearts and minds of consumers. Plus, it’s often easier on your pocketbook than other marketing programs.

5) Be Strategic About What You Cut

If any tactics aren’t working for you, don’t be afraid or hesitant to cut them. I know we push hard for a six-month commitment before you cut so you can verify that it’s not working.  I had a member tell me his ad wasn’t doing anything.  He only got a “few calls” for his workshop from it, so he was pulling the ad. However, he also wasn’t doing any reporting, so those two calls were probably more like four. I encouraged him not to cut it, because if you get two calls and you aren’t tracking, then you can probably truly allocate more than that number off the top of your head.  He cut the ad at four months, and in month five, he had people calling for his workshop from his ad. Pulling that ad hurt him, and he lost traction.

I also had a member who, at the fourth month of his newspaper ad, had not one call.  Zero calls, and he WAS tracking.  We had to stop the bleeding and decided that the demographic may not be ideal where he was. We put that money toward marketing online and got some leads. And we started focusing more on RMS and filling his pipeline.

So you have got to evaluate often, and if you are seeing any movement whatsoever, stick with the program AND REVIEW YOUR REPORTING before making your final decision.

If you want to know more about what Lawyers With Purpose has to offer, please join us Monday at 8 EST for our free Having The Time To Have It All webinar.

In this one hour webinar, you will learn how all entrepreneurs have the same amount of time in the day and how they use it differently.

Here's just some of what you'll discover in this practice-transforming event…

  • How to effectively utilize your time to enroll your team to help as many people as you choose and profit from it too
  • To work effectively with your team
  • How to balance your work life and your personal life to ensure you are able to create the maximum amount of value in both
  • How to have sufficient time to market consistently which will ensure consistent cash flow and free up the time you're currently spending chasing dollars

It will give you the confidence and path to create a law practice that provides estate planning, elder law, asset protection, Medicaid, veterans benefits, special needs, and tax planning in a way that helps your clients and your community!

Most importantly, you will be able to ensure your clients are able to maintain their dignity as they age and protect the assets they have worked their whole life for.

If you're passionate about helping people, reserve your space for this one hour webinar essential to help you break through your time restrictions to help more people and create more value!

Just register here to reserve your seat… it's 100% FREE!

Roslyn Drotar – Internet Marketing Strategist, Lawyers With Purpose

Bigstock-Budget-Word-on-strings-65283823

Getting Smart With Your Law Firm Marketing Budget – Part 1

When cash flow is tight and times are tough, one of the first things people do is look for ways to cut the marketing budget. People typically cut marketing budgets for one simple reason – they don't have the money to spend.

Bigstock-Budget-Word-on-strings-65283823But it’s always important to cut for the right reasons. “I’m short of funds" is not a marketing reason. From a marketer’s perspective, the welfare of the company depends on the marketing budget. You have got to be spending time, if not money, to market your practice. If you are cutting that budget only to reduce costs, then you need to decide what to do with your wholesale to fill your pipeline. 

So how do you measure the worth of your existing marketing activities and know what you should cut? Or how do you defend how you are spending your marketing dollars? 

Here are some things to consider about your marketing budget.

First, only spend what you can. You don’t need to do any more than that.  Decide what that amount is going to be and commit to it for six months. I did a marketing roundtable call in December about how to determine your spend. How do you arrive at that number?  If it is zero, that’s OK, but then you need to be spending 80% of your time on your marketing. You should be doing workshops, professional presentations, synergy meetings, strategy meetings, lunch and learns, etc. Make certain you are doing the follow-up that’s necessary to meet the expectations you’re creating and the promises you’re making in the industry. Or make sure you are rubbing elbows at networking events and getting in front of prospects and power partners.  That should be where the majority of your time is being spent. Some of that time should also go toward building your brand by participating in community events. You can’t bring in business just by hanging your shingle and sitting in your office practicing law. You have to market.

Second, tracking and reporting is crucial. This isn’t negotiable. Your reporting tracks your efforts, and it shows you whether you are reaching goal and what you are risking. It is a necessary part of your commitment to executing and understanding your marketing; it is required information to know the implications of your reporting at a deep level. It helps you build on what’s working and cut what’s not. A very strong discovery process will uncover gaps and weaknesses, it will bring you new ideas, and it will pull you and your team together in the common set of goals required for your marketing. 

If you aren’t tracking and reporting and have questions, we do have tools to support you. If you're a Lawyers With Purpose member, just log in to the members website and look under the February retreat; I did a breakout session on the RMS and the reporting. Start there and reach out to me if you have any questions.

So let’s talk about some criteria for what you can cut. These are things that may not be working, and any marketer should look for ways to fix them. It’s just good business sense. You can base your cuts on wanting to cut costs, but if funding isn’t the issue, you should still look at some of the ideas below and consider trimming. 

Cut Anything Not Generating Profit

Do you have any marketing spend that simply isn’t generating a profit, despite concerted efforts and a consistent six-month commitment to it? And I specify six months because that’s the length of time it takes to tell if something is working – results typically show up by the six-month mark in your reporting. If you do something different, like stop promoting your workshops or cut down on your RMS, you will see it around six months after you stop. So if you see any piece that is not generating profit for you by then, we can 100% say you should retire that effort.

However, you need to be sure to look at your reporting as a whole:  monthly, quarterly and annually. For example, if you got an AP2 from a $100-a-month ad in the local church bulletin, that was worth the monthly fee and axing it doesn’t make sense. But when you’re looking at that item week in and week out without considering the whole picture, it might initially look like something to cut.  So make sure you have the whole picture before you cut it.

Walk Away from the Wrong Prospects or Leads

If generating fees outside of estate planning / elder law – assuming this is what you want to focus your practice on – it might be time to step back from such leads, see where they’re coming from and refine your marketing strategy. It’s important to understand your sweet spot or niche and focus on it. Think about referring the work you don’t want to someone else. Build a relationship with that person – a referral relationship. So if you have family law still showing up in your practice, don’t just grab onto it. Find an attorney you feel confident referring to – but have a synergy meeting with them and make sure to build a referral relationship. You refer to them; they refer estate planning and elder law to you!

This isn’t easy, I know. I worked in a small boutique firm that did family law and estate planning. The family law came by default, but we decided we didn’t want to do it anymore. Still, every once in a while that retainer was right in front of us and we would cave to reach goal. But one day we decided no more, so we built structure and standards around referring it out.  We built referral relationships with another family law firm and asked for estate planning referrals.  We found that we were better able to focus our marketing and leverage our efforts. And when you are THE estate or elder law practice, it’s amazing what happens in the industry. You become the go-to, and you can feel confident saying you are the best at what you do. We were able to focus our marketing and not just talk about the things in general that we did, like “living trusts” and “dissolution of marriage” to include the business planning and asset protection, which compensated for that family law that we dropped. And we ended up getting consistent referrals from that family law attorney.

Also, if you find that your marketing is bringing in endless requests for negotiating your fees, then it’s time to think again about whether these are the prospects you really want and where they are coming from. You are probably targeting the wrong demographic. Refine the marketing message, move it, or axe it altogether.

Why Not to Cut Marketing Budget?

Many times, the firms that don’t cut the marketing budget – they just refine, move, tweak, and throw the dollars someplace else – really reap the success.  If you analyze successful companies, the one common theme among many of them is the effectiveness of their marketing and advertising. And sometimes, moving backward helps you eventually move forward. It’s not fun, and it’s not painless. 

Marketing is like casting a net, then letting it sit to see if you catch any fish. If you do, you recast the net, maybe even a bigger net next time! But if you don’t, pick up the net and throw it someplace else. If you know something is working, do not cut it – power through it and invest in the spend. Work your wholesale and community outreach to drive some revenue to compensate for the retail that may not initially be delivering an ROI.

After more than 20 years in the industry, I have learned one certainty: Marketing budgets at most law firms are the most unloved of all budgets. When not reaching goal, we huddle around them, trying to determine which expenses are likely to have the biggest impact on growing the top and bottom lines. But it’s always important to make cuts for the right reasons, and the right reasons usually aren’t commercial reasons, they’re marketing reasons.

Our next post will address which marketing strategies are the most cost-effective.

If you aren't a Lawyers With Purpose member and want to learn more about joining our community, join us for a FREE Having The Time To Have It All Webinar Monday at 8:00 EST 

Roslyn Drotar, Internet Marketing Strategist, Lawyers With Purpose

 

Untitled

Time Equals Money In Networking

Do you sometimes feel like you're in a rut when it comes to networking and working your Relationship Management System?  If so, I hope you joined me along with special guest Dr. Ivan Misner on our past Marketing Roundtable and got a shot in the arm to pump up your RMS.  

Welcome Dr. Misner for a follow up Special Guest Blog on "Time Equals Money In Networking" which is based on the study he talked about on the Roundtable on how effective your time is spent on networking.

_______________________________________________________________________________________

Dr. Ivan Misner:

The secret to getting more business through networking is . . . spend more time doing it! OK, well, it’s a little more complicated than that because you have to spend time doing the right things.  However, based on the Referral Institute study on business networking, we finally have a definitive answer about how the amount of time spent networking impacts the amount of business that is generated.

The most dramatic statistic I have found shows that people who said “networking played a role” in their success spent an average of 6.5 hours a week participating in networking activities. On the other hand, the majority of people who claimed that “networking did NOT play a role” in their success spent only 2 hours or less per week developing their network.

UntitledWhat does this mean? It means there is a direct correlation between the amount of time you devote to the networking process and the degree of success that you realize from it. To illustrate this further, the graph to the left demonstrates the “average” percentage of business generated from someone’s networking efforts in comparison with the amount of time spent on networking activities.  Here you can clearly see that people who are spending between five to nine hours a week networking are generating (on average) 50 percent of their total business from this activity. 

People who spend, on average, more than 20 hours a week networking are getting almost 70 percent of their business through referrals.

Based on this study, it is clear that people who devote six hours a week or more to networking are generating a large percentage of their business through their efforts. So, it’s time to ask yourself . . . how much time are you spending developing your personal network and what kind of results are you starting to see?

Ivan Misner, Ph.D., Founder & Chief Visionary Officer www.bni.com

I would like to personally thank Dr. Misner for taking the time to join us and sharing with us his insights on networking like a professional to grow your practice.

Roslyn Drotar – Lawyers With Purpose, Internet Marketing Specialist

Bigstock-different-concepts--red-apple-56219489

Think “Differently” About Your Time & You’ll Get More Done

In a speech, Steve Jobs said, “You must think differently about what you do.”  In fact, it has become the brand of Apple – Think Differently.  So I ask, “What are you doing to think differently about how you spend time in your practice?”  Are you frustrated that your growth is stagnant or not at the rate you'd like? If you continue doing what you've always done you will always get what you've always gotten. 

Bigstock-different-concepts--red-apple-56219489That's why you must think differently, and that's why on Thursday March 12th at 4PM EST and then again at 7 PM EST I am hosting a one-hour webinar entitled, Having the Time to Have it All – Three Time Strategies to Have a Practice with Purpose and Profit”. 

In this webinar you will think differently about how you utilize your time. You will re-examine the best use of your time and how to use your strengths and abilities to ensure marketing time, client time, and planning time you need, is achieved. I will also show you how to ensure your time provides consistent cash flow while being able to help more people.

Jeff Bellomo of York, Pennsylvania recently declared, “I was doing it all already, I just wasn't utilizing it in the right way.  Just a few of the concepts you have opened me up to have allowed me to help more people, make more money, and have a greater impact on my community.” You can begin to think differently about your practice. I look forward to sharing with you.

Click here to register now and discover how to have the time to have it all.

If you have a great work ethic, a passion for helping people, are a lifetime learner, and value relationships; this webinar will get you thinking differently about how to actually get what you've always hoped for in the same time you have now. 

If you are an existing Lawyers With Purpose member, you already have access to this valuable information. Simply reach out to us and we'll tell you how to access it on the members section of the website.

Cheers to helping people,

David J. Zumpano, CPA, Esq., Practicing Attorney, just like you & Founder of Estate Planning Law Center & Lawyers with Purpose LLC

Misner Pic

Rules For Networking Like A Pro – Special Guest Dr. Ivan Misner, Founder of BNI Joins Our Marketing Roundtable!

Join our Marketing Roundtable Friday, March 13th. at 12 EST with SPECIAL GUEST Dr. Ivan Misner, Founder & Chief Visionary Officer of BNI, the world’s largest business networking organization. Dr. Misner is a New York Times Bestselling author who has written 20 books including his latest release: Who’s In Your Room?.  He is also a columnist for Entrepreneur.com and Fox Business News.

Misner Pic

Dr. Misner will talk about how to “Network Like A Pro!” and turn your contacts into connections.  We will also have a live Q&A session at the end of our call so you can get your questions answered about networking and how to deepen the relationship with your own power partners.

You don't want to miss this presentation and the ability to get your questions answered by what CNN calls the “Father of Modern Networking” and one of the “Top Networking Experts to Watch” by Forbes.  Dr. Misner is considered one of the world’s leading experts on business networking!

For registration information please contact me directly at rdrotar@lawyerswithpurpose.com.

We can't wait to see you then!

Roslyn Drotar – Coaching, Consulting & Implementation / Marketing & Social Strategist for Lawyers With Purpose

 

 

Bigstock-Budget-Word-on-strings-65283823

Creating A Law Firm Marketing Budget

Creating a marketing budget is an important piece of your marketing plan. The goal is to create a realistic plan of action to help improve revenue, and determining your spending is an important part of that process. 

Without a budget, you can overspend – or fail to spend enough – on your marketing.  There are three steps to creating a marketing budget:

  1. Organize your financial information
  2. Determine where to spend your marketing dollars
  3. Set up reports and make adjustments 

Bigstock-Budget-Word-on-strings-65283823Let's dig into each step to spell out what is involved.

STEP #1 – ORGANIZE YOUR FINANCIAL INFORMATION

You have to understand your finances first.  You need to know how much money your company makes on a monthly basis and the variations that might exist.  This step will take time, but it’s important, because you cannot create a realistic budget based on estimated numbers. 

This is why in CCI we push so hard for a monthly goal with the Revenue Focuser tool.  Although income can vary significantly throughout the year, you must organize the information based on reliable revenue.

Reliable revenue is the minimum amount of money your company makes each month.  For example, if you range from 5k to 7k per month, any amount over 5k cannot and should not be added to the budget because it is not reliable.

Now you need to take that reliable revenue number and subtract your monthly expenses.  This is your rent, office supplies, keeping the lights on, payroll, and any other overhead. A realistic budget will focus on income that exceeds the expenses, not the total revenue that comes in.  This is your disposable income.  When you have determined the amount of disposable income, you will need to decide where that money will go.  Marketing is only one area you need to consider, of course.  You also need to put some of this money aside for unexpected costs and future growth.

Divide up that disposable income based on the goals of your firm.  So, for example, if your immediate goal is to get more prospects in the door, you would put your money into the marketing budget. You will want to put off hiring until your client base is bigger.

If your goal is to hire someone to increase your bandwidth, then put more of your disposable income into growth and set aside less for your marketing budget.

If you don’t have disposable income, your marketing budget is 0.  You need to hit the RMS to fill your pipeline, which is a different conversation.  Eighty percent of your time needs to be out eyeball to eyeball, developing relationships. 

These are the main considerations when you’re deciding what you will consistently be putting toward your marketing, so this is what you’ll need to nail down. 

STEP #2 – DETERMINE WHERE YOU WANT TO SPEND MARKETING FUNDS

After you know the amount available to spend on marketing, the next part of creating a solid budget is to organize how you’ll be spending that money.  Three main factors contribute to how to spend marketing funds: (1) the size of your budget; (2) your past experience; and (3) where you can reach your target market.

Let’s start with (1), the size of the budget.  If you have a small budget, you’ll want to start with small print ads, online ads, social media and email advertising to bring in new clients.  A larger budget would include radio or television ads to hit a wider range.  So be responsible with the size of your budget.

Then (2), past experience – what has or hasn’t worked for you in the past?  If you noticed that promoting your workshop with newsletter and small print ads brings in leads, then do it again and again.  Keep that in your budget.  Even if you have the means for more expensive alternatives, continue to commit to the things that work.

Finally (3), decide where you can reach your target market.  Start this process by writing down a description of who your target market is.  For most of us, it’s the baby boomers and sandwich generation.  And think about which media they use.  For baby boomers, it’s more than likely a locally circulated paper.  But for the sandwich generation, what websites do they frequent, and how can you be relevant on the social media they use?  Write down where they are and this is where you should be advertising. 

If you are testing something new – a good rule of thumb is to start with a smaller budget and test the waters before making a larger financial commitment.  After you determine if it will work, you can add more funds into that new marketing channel or opportunity. 

STEP #3 – REVIEW YOUR TRACKING AND REPORTING!  WEEKLY! AND ADJUST!

The final step is to analyze the data.  Look at what’s working and what’s not working.  From there you should make adjustments to improve revenue.  Anything with marketing needs to be tied to generating revenue.  If it doesn’t generate revenue, remove it altogether and try something new.

Knowing this information, and looking at your reporting weekly during your marketing meeting, is the most important part of maintaining your marketing budget and plan. 

You must looking at past performance and know with certainty whether revenue has increased, decreased or stayed the same.  You should be able to tie each of your marketing dollars and efforts to what you’re tracking and reporting.  Make adjustments for things along the way.  Increase your budget on the things that are working.  Pull the plug on the things that are not working.

Having a marketing budget is not enough.  You have to be able to take action based on your reporting.

Your budget helps you avoid overspending on your marketing and holds you accountable for taking advantage of opportunities and cutting off the things that aren’t working so you can put the money someplace else.  That helps you find the best solutions to meet your business goals. 

If you want to learn more about Lawyers With Purpose join us February 3rd – 5th in Charlotte, NC, for our Practice With Purpose Program.  You don't want to miss this event about Asset Protection, Medicaid & so much more to build your estate and elder law practice.  

Roslyn Drotar – Coaching, Consulting & Implementation – Lawyers With Purpose