60 Tips Empowerment Houston Presentation
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Transcript of 60 Tips Empowerment Houston Presentation
Your turbocharged office should NOT be solely turbocharged with technology
Within reason, your
turbocharged office should have,
at a minimum, these components….
However, your most important piece
of hardware, your head,
should be the driving force
behind your law practice.
• Know the sources from where your clients originate
• Know WHY your clients hire you
• Review your inventory (i.e. time)
• Know the sources of your income
• Know what you’re spending
• Concentrate on client service
There are things in your business you should be doing, and know you should do but you put them
off last.
Do these first!
What are your key metrics?
Write down
Track
Measure
Know how you get new clients
Know how much you want to make
Know your “Nut”
“If you think you’re to small to be effective, you’ve never been alone in a
dark room with a mosquito”
WHAT DO YOU SEE?
SETH GODIN DEFINES THE PURPLE COW AS “…ANYTHING PHENOMINAL,
COUNTERINTUITIVE, EXCITING…REMARKABLE.”
Attention is becoming one of the scarcest resources. If you get it,
respect it and give them what they want or seek.
How Do Lawyers Cheat?
• Spend extra “off the clock” time with a client if necessary
• Make unsolicited phone calls – be proactive!• Send handwritten birthday cards to our clients, past
and present• Send holiday cards for off-holidays• Have closing-case “exit interviews”• Practice electronically, meaning every document is
available to both us and our clients at a moment’s notice
(Yes, that’s cheating)
Homework – If You Haven’t Already Done
This
Compile the email addresses of 20% of your clients and/or referral sources that absolutely love what you do. What can
you do for them that will make them feel special?
Potential Clients because their needs and priorities fall in your legal sweet spot.
Referral Resources: People who respect you enough to be willing to open doors for you, as well as knowing others’ needs and what it takes to address them
Centers of Influence: Well-connected, high-torque people who can make things happen
Connectors: Those social extroverts who delight in bringing like-minded people together
Leverage your networking activities
FIRST STEP: ACCEPT ONLY YOUR IDEAL CLIENT?
• To Find Your ideal client:
– Will pay you a fair rate for your work.
– Will respect your time.
– Respects Your Opinion.
– Maybe, even loyal.
First Impressions…
• Treat a prospective client like gold!• Pour on some good old fashioned
Southern hospitality• Make them feel welcome and
important – and make sure they leave feeling like they have made the right choice!
Make it all about your client
• It is their issue – stay sensitive yet professional
• Remember, you hear it all the time…this is their tragedy
• They need to know you care…
Learn to Say “No”
• Just because they have the ability to pay does not mean you MUST take their money
• Just because they say they want you, and only you, as their lawyer, does not mean you MUST take them as a client
• 20% of your clients will give you 80% of your headaches
Get Happy – Fire Some Clients
Don’t spend hours on no or low-profit clients if that time can be spent on higher-profit matters
Remember your 80/20 Rule!
Flat Fees and Law Firm EconomicsWhat Do You Measure?
Exam historical data• Billing data• Collections history• Number of flat fee cases• Cost per flat fee matter• Revenue per flat fee
matter• Practice areas used
– Do not be shy about discussing fees– Do not reduce your price– Do not devalue your service– Make certain the client understands your
policy– Pre-determine the appropriate retainer and
collect it
Set the Rules
Create “Raving Fans”
“Clients are only satisfied because their expectations are so low and because no one else is doing it better. Just having satisfied clients isn’t good enough anymore. If you really want a booming business, you have to create raving fans.”
BE PROACTIVEDON’T•Fail to return phone calls•Sound disinterested when speaking with a client•Fall behind in casework•Neglect your staff. Keep them informed of your activities•Overpromise
DO•Call clients in a timely manner•Keep your case lists, budget and business plan up to date•Praise your staff for a job well done•Treat each client as if they are your biggest referral source•Overperform