Bigstock-Price-Tag-With-Fake-Bar-Code-3273434

The Price Of The Relationship Management System

by with No Comment Legal Marketing

Have you ever gone to a restaurant where there were no prices on the menu?  I’m told that if you have to ask the price, you probably can’t afford to eat there.  Really?  In my world, I always want to know the price before I commit to anything.

Perhaps this is why I see so many member firms hesitating with implementing a Relationship Management System (“RMS”).  It’s possible that we haven’t been clear about the cost of implementing such a system.

Bigstock-Price-Tag-With-Fake-Bar-Code-3273434It’s 12 hours a week.

That’s right.  Six hours from an attorney, and six hours on the administrative side.  That covers two RMS meetings a week for the attorney (including travel time), plus the time needed for a couple of phone calls, plus the hourly marketing meeting.  A minimum of six hours a week from a Professional Services Coordinator (“PSC”)  in which to identify and qualify potential partners, make introductory phone calls, schedule meetings, follow-up after meetings, track results and attend a weekly marketing meeting.

Sounds fairly simple, doesn’t it?  And it is!  So why do so many members either procrastinate the implementation of an RMS process, or sabotage what they accomplished in the past by not following up? 

Let’s look at the minimum requirements for a successful RMS.

  1. Absolute dedication on part of the attorney to 6 hours a week and building this into his/her time template;
  2. Absolute dedication on part of the Professional Services Coordinator to 6 hours a week and building this into his/her time template;
  3. A weekly marketing/RMS meeting that is never hijacked;
  4. A start date 3-4 weeks in the future;
  5. Determine which type of professional your firm should focus on at first – either financial advisors or other law firms that do not practice elder law/estate planning are an excellent starting place;
  6. Identify those professionals within a certain mile radius of your office(s);
  7. Dig a little deeper to determine their credentials and experience;
  8. Create a list (Excel, anyone?) listing their name, company name, credentials, address, phone number, email, assistant’s name and distance from your office.  Depending upon the number of professionals you identify, either increase or decrease your radius around your office until you have 20-30 names.
  9. Review the list together and identify any professionals whom you’ve already met or worked with.  You will approach them a bit differently.  Rank each name according to distance from the office and level of experience or credentials.  Someone at the limit of your geographic radius with little experience would receive the lowest ranking.
  10. Starting with your lowest ranking prospects, begin making introductory calls.  Suggested scripts can be found on the LWP website if your PSC is inexperienced in making such calls.
  11. Schedule 2 meetings per week on the attorney’s calendar, starting 3-4 weeks into the future and continue until you have scheduled a full month.  Thereafter, continue to schedule at least one month out.
  12. Watch the LWP webinar on using the RMS focusers.
  13. Watch the LWP webinar on getting the financial advisors to do their homework.
  14. The attorney should study the Synergy meeting outline and watch the Synergy meeting videos.
  15. The CSC should prepare the introductory materials that the attorney will take to the Synergy meeting.
  16. Follow up … follow up … follow up!

Remember that an RMS process should always be implemented with consistent attention.  Starting a process, making promises, and then failing to follow up on those promises will not only damage your firm's reputation but your firm's consistent referral stream as well.  We tell attorneys all the time, "You work so hard to get your phone to ring in the first place. You work so hard to get a referral in the door – nurturing and consistent touches to your referral sources are crucial. The key is giving your RMS system dedicated, consistent time."

If you have any questions or would like additional assistance in implementing your own RMS Process, please let me know.  You can reach me at ncatale@lawyerswithpurpose.com.

We still have a few spots left for our Practice With Purpose Program October 20nd – 22nd in Phoenix, Arizona.  You'll learn all you need to know about Asset Protection, Medicaid & VA in just 2 and 1/2 days! Click here for the full agenda.  It will be worth every minute of your time to experience first hand what it's like to be a Lawyers With Purpose member!  Hurry, seats are filling quickly!

Nedra Catale – Coaching, Consulting & Implementation, Lawyers With Purpose

 

Bigstock-Stop-Doing-What-Doesn-t-Work-52434685

How Efficient Is Your Law Firm?

by with No Comment Asset ProtectionEstate Planning Drafting SoftwareLegal MarketingMedicaidVA

Tom was making the same colossal mental mistake most attorney practitioners make, thinking he was doing everything he could to eke out a respectable living.  He certainly was working hard enough.

Bigstock-Stop-Doing-What-Doesn-t-Work-52434685Tom and his partner Richard started their practice together a few years ago.  They both thought they could earn a better living than working for their respective law firms.

It didn't take long for reality to set in. Their hours were longer and they earned far less per hour than they had when they had employers.

They hired an admin, Sally, about a year ago.  It definitely helped but there were still problems.

After Tom read the intro to the Revenue Focuser Workbook, he was definitely intrigued.

He coordinated two hours for himself, his partner, and their admin to watch the video and work through the workbook.

Tom and Richard thought about how much they really wanted to pay themselves every month.  Since they'd opened their doors, they had never been able to pay themselves that magic number.

They also recognized that, for some reason, their marketing efforts were unfocused and never attracted the right clientele. They could only help a small percentage of the prospects who called them.

Together the three identified their key revenue-generating services.  They added up the hours they spent delivering each service.

Tom and Richard also looked at the total hours they spent in the office each week.  They felt a knot in the pit of their stomachs when they discovered their office was operating at less than 20% of efficiency.  In fact, they barely operated at 19% efficiency.

Tom and Richard realized it was time to figure out how to retool their processes so they could handle their clients more efficiently; they also needed to determine how to attract the right clientele.

If you haven't worked through your Revenue Focuser, it could be the most important hour you spend.  When you decide it's time to eliminate the long hours and the feeling of being overwhelmed,take 1 hour and Complete the Lawyers With Purpose Revenue Focuser.

The income you want to earn and the ease you want to experience is within your reach.

If you have any questions about your Revenue Focuser results, send us your questions on the form on our contact page. Just send an email to info@lawyerswithpurpose.com.

And, if you're interested in learning more about Lawyers With Purpose, please click here and register today to attend our Practice With Purpose Program in Phoenix, AZ, October 20-22nd.  We'll see you then!

To your success,

Dave Zumpano 
Lawyers With Purpose

Bigstock-Old-Keys-42114148

The Five Key Trusts You Must Know

by with No Comment Asset ProtectionEstate Planning Drafting SoftwareLegal MarketingMedicaidVA

Did you know that when it comes down to it there are only *five* trusts that serve 99.7% of all client needs? These include:

  1. The revocable living trust;
  2. The income only irrevocable trust;
  3. The control only irrevocable trust;
  4. The third party irrevocable trust; and
  5. The completed gift irrevocable trust.

Bigstock-Old-Keys-42114148This is all you need to serve 99.7% of all clients. The overindulgence in conversation about DAPT'S, GRATS, GRUTS, FLPs, and other advanced tax planning strategies are for mental exercise only and apply to less than 3 in 1,000 Americans.

The correct trust choice for clients when designing planning to protect their businesses, ensure they qualify for Medicaid, if the need for long-term care occurs, or the preservation and maximization of veteran's benefits, trust choice is critical. But more important than trust choice however, is the drafting utilized inside the trust chosen.

That's why the national Medicaid and VA experts are hosting a three day program to bring you together with your colleagues to show you the solution they have created to these often misused trusts. Click here for the course outline and to register. This three day program will not only address trust drafting and trust use, but also address all of the core elements in today's Asset Protection, Medicaid, and VA Benefits environment.

In just three days, we will show you…

ASSET PROTECTION:

  • Recent updates to asset protection and Medicaid compliant strategies.
  • The new asset protection strategies dominating the marketplace.
  • The death of DAPT'S, FLP'S, GRATS, GRUTS, and tax planning, and what's replaced them.
  • The five essential trusts and key drafting needs to serve 99.7% of clients.
  • Four "must have" drafting considerations and three "most forgotten" powers in trust.

MEDICAID:

  • Four steps to Medicaid eligibility for any client.
  • How to calculate the "breakeven" to ensure the proper filing date for the shortest penalty period.
  • Medicaid Qualifying Annuities: Hidden risks and how to properly disclose them to clients or protect from them.
  • The seven key factors to calculate any Medicaid case in seven minutes (or less!).
  • IRA's: Exemption versus taxes, how to calculate if IRA's should be liquidated or exempted in Medicaid and VA cases.

VETERANS' BENEFITS:

  • New claims process for veterans and widows.
  • Qualifying assisted living facilities as UME's.
  • Key choices to complete the physician affidavit for more timely approvals.
  • Update on three year look back for VA benefits.
  • The key reports no longer required for VA applications.
  • Dangers of annuities in VA benefits planning.
  • The effects of the Supreme Court decision on DOMA related to veterans benefits.

ALL PARTICIPANTS IN THIS SUMMIT WILL RECEIVE:

  • Asset Protection, Medicaid and VA Practice Kit which includes:
  • 50 state Medicaid Reference Resource Guide (summarized in 3 pages)
  • 50 state Estate Recovery Article and updated state by state summary.
  • Grantor Trust Summary and use tool.

HERE'S WHAT YOUR PEERS HAD TO SAY ABOUT THE PROGRAM:

“You don't know what you don't know. Come learn how to best serve your clients.” –Matthew Donald

“I would consider this mandatory training for any elder law/estate planning attorney. If not, they should plan for a mediocre practice at best.” –Tim Jarvis

“Just do it. The tools and training will absolutely be worth it!” –Rod Halstead

If you are ready for strategic solutions that you can see, touch, and feel, this is not an event you will want to miss. Click here now to begin your strategic approach to solving your clients' trust needs.

To Your Success,

Dave Zumpano
Co-Founder, Lawyers With Purpose
Practicing Attorney, Just Like You! 

 

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Congratulations to Peggy Timmel, LWP Member Of The Month

by with No Comment Asset ProtectionEstate Planning Drafting SoftwareLegal MarketingMedicaidSNTVA

What is the greatest success you’ve had since joining LWP? 

Organization + Confidence = Increasing Success.  That’s the formula we now have in place.  Sure, we still are working through some of the processes, making them our own and getting the kinks worked out when and as needed.  Not all clients initially expect the process to be as involved, but there is no doubt that our efforts are appreciated. 

PhotoWhat is your favorite LWP tool?

LWP Meeting Focuser (the green sheet) – it may sound strange to some members, but that sheet is reviewed at the end of client meetings so that tasks are delegated and the next meeting with the client put on the calendar.  I’ve been using it for cases that are pre-LWP or non-LWP, like guardianships.  It keeps our team more focused and allows us to move our clients through the entire process more smoothly.

How has being part of LWP impacted your team and your practice? 

We get to travel three times a year and always come back with something to improve our practice.  It has been incredibly helpful to have the support system that LWP provides.  The members provide a great community of support and the LWP systems and processes give us a great foundation to continually improve our practice.

Pipeline

It’s Time To Report!

by with No Comment Coaching & ImplementationLegal MarketingSystems & Processes

As a former school teacher I’ve had ample opportunity to be on both sides of reports cards – both getting grades, and giving them.  When we were children, report cards are handed out primarily for our parents’ benefit.  The further we go with our education, the less grading is for parents, but to give us as adults, a means to measure our successes … or failures.

Even though most of us have finished our formal education, and few of us measure our progress through life with grades, we continue to use numbers to measure our successes and achievements.

“How many pounds have I lost on this diet?  How many days have I gone without smoking?  How many miles did I walk?  How much did I earn this year compared to years past?”

We know that an essential key to success is writing down one’s goals.  But those who are successful also document their progress in a consistent way, so that their path to success can be adjusted if need be.

The Pipeline Focuser™, one of the LWP Five Key Focusers, provides a format to document weekly progress by tracking: 1) the number of initial or vision meetings scheduled each week; 2) the outcome of each of those meetings; and, 3) the total dollar amount of engagement agreement value for the week.

The Pipeline Focuser™ is probably the least understood focuser of the Five Key Focusers.  But the information it captures documents an important aspect of your firm’s growth and is directly reflected in your monthly revenue.

PipelineTake a look at the sample, completed through the end of the week.  Note how the focuser reflects the meetings on the firm’s calendar.  This focuser is ready to be reviewed by the team in their weekly staff meeting, together with the focuser for next week, which will show the potential new clients and matters for next week.  It will also indicate which prospects did not engage, and what further action may be needed (see the Follow-up Focuser™).  Here is your firm’s weekly report card.

If your firm is not currently tracking this information, either through the Pipeline Focuser™, or some other system, I hope you will make this a part of your firm culture going forward.  

If you want to learn more about Lawyers With Purpose and are interested in attending our Practice With Purpose Program to learn more about Medicaid, Asset Protection and VA, click here to register today to reserve your spot.  We'll see you in Phoenix in October!

Nedra, Catale – Coaching, Consulting & Implementation, Lawyers With Purpose

Mom

Marketing Lessons From Mom

by with No Comment Coaching & ImplementationLegal Marketing

You know how you become a parent and one day you hear those same words come out of your own mouth that you heard from your own parents when you were growing up?  There’s that moment of total shock when you realize that YOU’VE BECOME YOUR MOM!

One of my mom’s favorite sayings is “You never get a second chance to make a first impression.”

Only now, as an adult, do I totally understand what she meant.

MomAs an Implementation Coach, I am constantly coaching firms who, with the best of intentions, began a Relationship Management System, scheduling Synergy Meetings right and left.  Perhaps they made a great first impression.  They made a lot of promises, handed over a folder of materials, and … didn’t follow up.

Now, six months, a year, three years later the law firm must deal with a wounded relationship.  They must decide whether to attempt relationship CPR or chalk the relationship up as a DOA and move on. 

When the law firm is located in a smaller community, this situation is even more painful.  There are fewer potential synergy partners in a smaller pond to pick from and, in a smaller pond, word can spread quickly that your firm doesn’t live up to its promises.

What can a firm do to revitalize a failed relationship?

Step 1.  Determine the potential value of the relationship.  Long ago you met with this professional.  Were you impressed with their resources, business approach and openness to work with you? On a scale of 1-10 how did that first meeting – the Synergy meeting – end?  Was the failure to move the relationship forward the result of lack of follow-through by you and/or your team, or was the failure to thrive a result of lack of follow-through on the part of the other party?  If your take on the meeting scored fairly high and if the failure was a result of lack of attention on the part of you and/or your team, proceed to Step 2.

Step 2. Apologize.  It’s amazing to me what a heartfelt apology can accomplish! If you see the potential in the relationship, and regret your lack of follow-through, then say so, ask for a second chance, and promise to do it right this time.  Be ready to follow through – most people won’t give you a third chance.

Step 3.  Keep your promises.  Integrity is a matter of keeping your word, even to the point of never being late for an appointment and meeting deadlines.  Honor your word, and you and your firm will become known in your community as a firm with total integrity.

These are all things my mother taught me, but life has continued to teach me. And yes, I hope that I will pass them on down to my own children…even if I do find myself sounding just like my mom!

If you want to learn more about marketing for your estate planning / elder law practice, please join us for our Asset Protection, Medicaid & VA Practice With Purpose Program in Phoenix.  Click the link and register today!  This WILL sell out!

Nedrea Catale – Implementation Coach, Lawyers With Purpose

Bigstock-Tnt--Today-Not-Tomorrow-57927143

Estate Planning Marketing Musts

by with No Comment Legal Marketing

Got ya, huh? I speak with an average of 15 attorneys a week, and more often than not they reveal that they are in dire need of a system for getting clients in the door. But honestly, they need a system but are wanting tips and tricks.  I find it amazing that most people would typically pay double the cost for tips (quick and easy) versus systems (slow and solid).  I have always struggled with this.

Bigstock-Tnt--Today-Not-Tomorrow-57927143But I finally got it. Last Tuesday I received a call from a well-established estate and elder law attorney who has belonged to virtually every organization in the EP industry. He phoned me to “pick my brain” on his investing in marketing bullet X.  A day later I received the following email from him: “Hey Molly, Thanks for your time yesterday. Your systems are quite impressive, intentional and very well thought out. Regrettably, I don’t have the time to spare right now.  I know you said on average it will take approximately 120 days for me to fully implement your systems, if I do exactly as you say and put the time in to do my homework between our CC & I calls. Honestly, I don’t have the leisure of time. I have made the decision to invest in the newsletter we spoke of as it will be fairly quick, easy & will get my phone ringing today. Again, thank you for your time.”

I pulled up my CRM to update his record and noticed that this prospect's initial contact was May 28, 2012. I then pulled up the notes from the initial contact, and almost word for word his “reasons” for not creating the space was that he didn’t have the time to stop and produce an intentional recourse. It wasn’t quick and easy enough. He didn’t have 120 days to “wait.” That was 772 days ago.

I love what Laurie McCabe, an expert at AMI-Partners in providing insights and solutions for small and medium businesses, has to say on this: “To keep pace in an increasingly competitive world, your business needs to run as efficiently as possible. Sooner or later, any company not operating efficiently (systemless) will be out of business.” Efficiency is even more important for small- and medium-sized businesses, McCabe adds, because their resources are limited compared to large global companies.

I couldn’t agree more.

If you're interested in learing more about what Lawyers With Purpose has to offer, join us for our Asset Protection, Medicaid & VA Practice With Purpose Program.  Register today and reserve your spot!

If you're an LWP member and want to join us to "sharpen the saw" – please contact Angela Crowther at acrowther@lawyerswithpurpose.com to obtain registration information.

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.

The VA Benefits Software

by with One Comment Estate Planning Drafting SoftwareLegal MarketingVA

Our VA software is very unique.  With Victoria L. Collier, the number one V. A. expert in the country, helping develop and create the software. 

 

Many people don't know the eligibility standards around VA benefits.  They know that there is a certain amount of assets and income, but you don't know the amount of assets you can have.  In many cases, you can have assets in the hundreds of thousands of dollars and still be eligible.  We have the software that uses the VA's own formulas in making these determinations.

In addition, our software is very unique in that you could enter client information and it will generate the necessary documents for the application.  We have a complete application process that is tracked through a client management system which gives you reporting, so you're very familiar with where each case stands and what step of the process it's in, the forms that have been completed, which ones are done by clients, which ones are done by the office, and the software will generates those forms. 

Very unique and different, unparalleled in the industry.  Very user friendly for any law practice that's experienced, or doing veteran benefits for the first time, they can confidently ensure that their paraprofessionals are able to handle a large majority of this work.  And they can keep tabs on it with the reporting to be confident that they're not missing any major deadlines.

It’s great technology to help any practitioner be confident that they're not missing anything!

If your interested in learning more about the LWP-CCS drafting software, join us in Phoenix October 20-22nd at our Asset Protection, Medicaid and VA Practice With Purpose program.  Click here to register today!  Existing members who would like to participate can contact Angela at acrowther@lawyerswithpurpose.com

David J. Zumpano, Esq, CPA, Co-founder Lawyers With Purpose, Founder and Senior Partner of Estate Planning Law Center

 

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The Difference Between Marketing & Branding

by with No Comment Legal Marketing

Marketing is actively promoting a product or service. It’s a push tactic. It’s pushing out a message to get sales results: “Buy our service because you have a problem and we can fix it.”  Although it might be oversimplifying, that’s it in a nutshell.

That is not branding.

Bigstock-The-word-Brand-defined-in-a-di-35826296Branding should come before AND is the first layer of any marketing effort. Branding is not push, it's pull. Branding is the expression of the value of an organization or service. It should communicate your values, and clarify what your particular service IS and what it IS NOT.

A brand will help encourage someone to buy a service, and it directly supports whatever sales or marketing activities are in play, but your brand does not say “buy me.” Instead, it says “This is what I am. This is why I exist. If you agree, if you like me, you can buy me and recommend me to your friends.” It’s your reputation. 

Branding is strategic.  Marketing is tactic!

I want to use the example of social media to speak into what is the best way to build your brand.  And I’ll tell you why social media is about being present with your brand for the people with whom you do business, your clients and your prospects.  It's about your relationships.  Your brand is your reputation.

So, just using that as an example, your brand presence represents who you are. It is meant to support your company, reinforcing your reputation, the service you provide and your commitment to your clients. Build relationships in and around your social channels, showcasing your desire to serve them. These relationships are the foundation of your brand’s reputation, success and bottom-line. You are building trust and then seeing the return.

Nurture and cultivate your audience with real conversations and engagement, offering value and rich content. Don’t just ALSWYAS push your URLs and self-promote; get involved. Share. Ask questions.

People buy from people, and they want to get to know you.  They already respect and admire you for your accomplishments, because you’re an attorney and have a license to practice law; with your brand you want to humanize your practice and be personable. The relationships that you build in social channels will lead to increased brand advocacy. Make the time!

Creating an online “experience” for your clients and referral sources though your brand is an opportunity to engage and interact on a more personal level than you can with more traditional forms of media. You are speaking WITH instead of AT them. These relationships can evolve into strong brand advocates to share your message, service and products. This word-of-mouth advertising and shouting from rooftops (social channels) is the greatest form of marketing your brand can hope for. Each consumer is connected and has a voice – they will share their testimonials and experiences with the world, so it is your job to make sure those are positive. Pay attention to them, understand their pain points and give them viable solutions.

So, do you have a brand?

You don’t have to spend thousands of dollars or hundreds of hours to create your brand.  You can outsource it to a marketing firm – or even create your own online, for free.  Several members use their firm name with standout fonts that pop.  Do not sit and do nothing because you don’t know what to do. It can take a year to really build your brand, so it’s not something you should wait to make perfect.  It doesn’t matter what shade of blue you use, whether  it’s teal or navy blue, light blue or periwinkle.  But a separate logo, as a distinct way of writing your company or product name, is not an essential requirement for a brand. Many well-known firms exist without logos. Often they rely on their name, rather than a graphic, to create the necessary impact. However, if that's your approach, give some care and attention to the look of your name, but don’t let it stall you.

If you do have a brand, what are you doing with it? 

When you have a brand, there are two things you need to do to build it. (1)  Make sure it appears everywhere.  Period.  Social, stationary, pens, shirts for community outreach, workshop ads, flyers, anything with your firm or your name on it must have your brand!  (2) Deliver on your promise.  Make sure that your systems and process are working, because one weak link or broken promise can weaken your brand.  

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

Italy

What Does That Mean?

by with 2 Comments Coaching & ImplementationLegal Marketing

A few years ago my younger daughter and I splurged and spent 12 days in Italy, a country I had long longed to visit.  The trip was utterly amazing and we managed fairly well despite the language barrier.  I guess I must look somewhat native because on two separate occasions Italians approached me for directions and I could only laugh helplessly and indicate that I didn’t speak Italian.

ItalyRecently, I’ve noticed advertising for some pretty spectacular audio travel translators and find myself wondering how having one of those high tech gizmos would have impacted our trip.

What would be even better is if we had been able to take and master a crash course in Italian! 

I was reminded of language differences some time back when preparing to launch an RMS process targeting nursing homes.   An attorney at another law firm was coaching me in how to set up our campaign.

We were role playing conversations and approaches and she ran a couple of phrases in nursing home lingo past me but it was as if she were speaking Italian. 

I stopped her and said, “Wait!  What does that mean?”

“Have you reviewed the nursing home RMS material on the website?” she asked me. 

“No, I meant to, but haven’t had time,” I replied.

Hmmmm …… What’s wrong with this picture?

A representative from a law firm positioning itself as expert in the area of Medicaid and VA is going to walk into a nursing home and introduce herself, but will be unable to understand or communicate in their language nor understand their priorities. 

Well, worse things have happened.  But the point is, the LWP website has hours of materials that can have you speaking “Italian” in no time.   You’ll get valuable insight from other professionals who have had incredible success in establishing relationships with nursing homes.  Spending the time to work through these materials will give you a true competitive edge from the moment you walk in the door.

What you say and how you present yourself in those first few minutes can mean the difference between being easily forgotten or positioning your practice for consideration as their “go-to” firm for VA and Medicaid apps.

So if your firm is considering a nursing home RMS process, I really hope you’ll brush up on your language skills first!  And practice, practice, practice before you knock on the door.

Nedra Catale – Implementation Coach, Lawyers With Purpose