Attorneys: Do you want to grow or sell your law firm?
April 18, 2017
Being a great attorney alone won’t significantly grow your practice’s revenue. And, studying to become the most certified lawyer in your market won’t add value to your practice if you’re hoping to eventually sell it.
However, what does grow revenue and what will position your firm for a profitable sale is creating a strategic business plan at one or both of the two Atticus workshops offered this summer in Orlando.
Atticus has taught the Double Your Revenue™ workshop for over a decade to great results. Graduates have doubled and occasionally tripled revenue. At a minimum, some increased by 40%. But no one did it by thinking about it. They took action. You will create your own strategic plan to double your revenue without increasing your stress or overhead.
And, Atticus’ Florida Bar CLE-accredited How to Build Your Law Firm for Sale™ workshop shows you what it takes to transform your practice into a profitable business and what buyers are really looking for. Determine your practice’s actual value today and create a profitability plan to increase the firm’s worth for a future sale date.
You can find out more about each workshop by clicking on their names above. If you’re ready to register, click here.
Registration for each workshop is $995 for the first attorney and $795 for each additional attorney or staff member from your firm.
Enroll in both workshops and Atticus will deduct $300 off the first attorney’s registration cost, and then you pay only $1,690 to attend both Double Your Revenue ™ and How to Build Your Law Firm for Sale™.
Commit to spending two days away from your office to work strategically ON your practice rather than working blindly IN it. Attend these workshops and implement Atticus’ tools and strategies to make an incredible difference in your life, your team, and your profitability.
An attorney’s fear of asking for money
March 13, 2017
Filed under: Uncategorized — admin @ 12:56 pm
Nothing seems to turn attorneys into quivering lumps of goo faster than asking a prospect for a retainer check.
I don’t care if their area of practice is family law, estate planning, commercial litigation, elder law, etc. If you have a contingency fee practice, then you have likely been confronted by this fear. To look a prospect in the eye and discuss your fees can be terrifying.
If this is true for you, and your goal is to increase your profitability, then this may be the most important business skill you work on this quarter.
Why is it so hard? What about it requires so much work?
While there are multiple tactics we can discuss that can address this fear, in this post let’s focus on “The Ask.”
If you are not crystal clear how you will ask someone for payment, then you are going to bumble through the conversation. While you think it should be obvious to a prospect that you will ask for payment or discuss fees, most of the time this is not obvious to them. When you start talking about hourly rates and retainers, many prospects will display a confused expression.
What do most attorneys do when they see that expression? They immediately start discounting fees and their retainer in their head (which only makes matters worse).
What should you do? It may sound obvious, or perhaps a little silly to some of you, but I think you need to practice “The Ask.”
Think back through all the times that that asking for payment went well, and all the times it went bad, and consider what you did right and wrong. Then, practice asking. Then practice asking again.
If you want to increase your law firm’s profitability, one of the best and simplest strategies is learning how to ask for money. Practice, practice, and practice some more until your ask becomes easy.
Lawyers: 2 Simple Lists Can Result in Big Wins for 2017
November 9, 2016
The holidays are nearly here, and for many lawyers that means using this time to sit back and reflect on their successes or failures of the last year. Some of you will armchair quarterback yourselves over what you should or should not have done.
Stop it. Looking back in regret will not fix those issues. Just because a calendar year is nearing its close does not mean it’s okay to navel-gaze instead of looking for opportunities to improve. You risk falling behind.
Now is the best time for lawyers to set personal and financial goals for 2017. I encourage my coaching clients to write two simple lists to help them make progress in both life and business for the coming year.
Setting Simple Goals
The first list is your top 10 personal and financial goals for the year – as simply stated as possible. This list might include paying more attention to your children, exercising more, increasing your business’ marketing efforts, or paying off old debt by following a new budget plan.
One goal you might consider is hiring an accountability and strategy coach!
Of course, you don’t have to finish this list in one day and laminate it! Some people get writer’s block if they are on deadline. Instead, draft it out, set it aside for a day or two and come back to it to make revisions or additions.
Repetition and Reminders
Once you’ve set these goals, make three copies: one for your desk at work, one taped near the bathroom mirror at home, and one miniaturized in size to carry in a wallet or purse. This might seem silly to some, but reading one’s goals regularly can really help ensure commitment to achieving them. It’s a practice in self-accountability.
Share these goals with your key assistant or another attorney you trust, if you are comfortable doing so. That way, you’re saying you want to be held accountable to meeting these goals because you want this person to check on your progress.
The Little Things
The second list is all about the little things you have been tolerating over the last year. Take 15 minutes and sprint out a list of these annoyances. Don’t worry about prioritizing it, just put pen to paper.
Maybe you’ve been so busy wrestling with issues at home that you’ve come to accept working in a messy work space or office? Or, you’re missing a button on your favorite jacket, and are reminded of it each time you put it on to take the dog on a walk. It might be a garage door that needs fixing or a checking account that needs reconciling.
Perhaps you sacrificed having a dental issue treated because of unexpected business expenses? Or maybe the list will contain names of problematic clients you’ve tolerated instead of letting go.
Once you begin writing these things down, it becomes clear just how many annoyances you’ve been putting up with in daily life that need addressing. Regardless of its content, this list of tolerations will certainly grow if it is not addressed.
You don’t need to take an oath to eliminate each of these issues within the next year, but you will have a much better chance of addressing most of them if you just start by writing them down.
As always, I hope this article has helped you and your practice. If you have a specific practice management issue or concern you’d like to share, please contact me.
Lawyers: Do You Have a Practice Growth Mindset?
September 15, 2016
Do you only see what you want to see? Your mindset, or view of the world, is the key to setting the pace for growth in your firm. The amazing difference between a lawyer who grows quickly and profitably and one who does not has everything to do with how they see the world. I want to encourage you to have a Practice Growth Mindset™.
A lawyer’s mindset for opportunity, self-development, and general attitude about life can drive growth far more than his or her legal skills.
I see great lawyers struggle with growth issues because they don’t see them as growth issues. They see them as hassles, aggravations and frustrations. They see them as things getting in the way of being “a great lawyer.” Ironically, this view or mindset is the very thing that blinds them to what is in the way of significant practice growth.
Growth Depends on Attitude
It reminds me of the old joke: “Wherever you go, there you are.” Depending on whether you have Practice Growth Mindset™ or a status quo mindset, those will be the results you will see in your life. If you are not getting what you want from your practice, it may have more to do with the mindset you bring than anything else.
Which then begs the question: Is it possible for you to change your mindset? I think yes, of course, it is possible.
But are you willing to take a risk and invest the time to change to a Practice Growth Mindset™? If that’s the case, then I encourage you to attend an Atticus webinar I’m hosting on Oct. 4 called “But I Can’t Do That! – The 10 Big Lies That Stop Practice Growth.”
In this hour-long discussion, I’ll reveal common misconceptions lawyers have about why they can’t grow their practices. And I’ll share the truth about improving your firm and your life. I hope you can join me.
Lawyers: Should you make the switch to Apple?
August 15, 2016
Filed under: Law Firm Technology — admin @ 8:41 pm
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Converting from PC-based systems to Macintosh computers seems to be a very popular question these days among solo and small firm lawyers. The popularity of the Apple product line among attorneys is exceptionally deep, and its overall customer loyalty appears to me to be beyond that of any other tech brand in the market place.
When I lead workshops for Atticus and at legal conferences, I pay attention to the types of laptops and tablets I see lawyers using to take notes. Hardly anyone uses a good old-fashioned legal pad anymore. Among these workshop audiences, Apple seems to be the dominate brand of choice. And yet, when I ask what kind of computers these lawyers use in their offices, the predominant answer has been PCs. These attorneys are using iPhones and iPads, but they’re unsure if they want to commit to having their firm move from PC to Macintosh.
I’m asked from time to time, “Steve, do you think I should convert to Apple in my law firm?”
I actually have no opinion or expertise to offer for this question. So, I found someone who does. The next monthly edition of the Atticus Practice Development Series webinar (12pm EDT, Sept. 8) will feature Tom Lambotte, CEO of GlobalMac IT.
Tom’s firm provides technical assistance and computer support to law firms that are Apple-based, or are wanting to make the change.
During this webinar, Tom will speak to the benefits of using Apple in your firm, specifically the financial ones. He’ll touch on security issues, productivity, and how to be comfortable and confident in using Macs.
Naturally, Tom is very, very biased about Apple. But, his take on things is certainly worth your time to listen to, especially if you’ve been considering such a transition. Join us and listen to Tom discuss his argument.
It’s fast and easy to register for the webinar.
And, if that is not enough Apple for you, our long-time client and friend, Attorney Victor Medina, sponsors an annual conference for lawyers who use Apple products in their law firm. The conference is called MacTrack Legal. Check it out, tell him Steve sent you. (Maybe if I get enough of you to visit his conference website, Victor will send me a new iSomething that I didn’t think I’d need, but that I ultimately will find that I can’t live without.)