Legal Marketing Secrets

Do These 3 Things If You Want a Profitable Law Practice!

               The bottom line is that law, like accounting, medicine, engineering, or any other enterprise, is a business. And businesses exist to make money.  In the legal profession, revenues are derived from clients.  Through your efforts and priorities early in your career, you may have been pigeonholed. As a result, you may be viewed as either a “worker bee” or a “rainmaker.”  Sure, you could bill an outrageous amount of hours, a national expert in your area of the law, even a partner in a large firm, but these factors are no longer a guarantee of your financial and personal success.

  There is only one thing that will guarantee your financial and personal success in your practice.  For those of you who want to have a balanced and comfortable life, one filled with financial and personal freedom, and the time to do the things you want to do, you must have a steady stream of new and existing clients.   Having an easy and workable system to get and keep profitable clients is the key which will determine your overall success and impact. 

But, how do you draw a steady stream of new clients?  How do you develop your business and make it dynamic, fun and successful?  You may reject what I have to say right off the bat, but the truth is in order to get what you really want, you have to market yourself!  While many of us are uncomfortable with the idea of having to “sell” or “market” ourselves, the truth is it is not only a necessity; it is the solution to all that you seek.   Yes, I know you’re probably thinking that clients should seek you out, not the other way around.   Besides, don’t they know how great you are?

           Yes, I agree, selling and marketing can be a drag.  To some it’s demeaning; time consuming, sleazy, and a total waste of our precious time.  Why do so many lawyers dread it and find it so offensive?  The reason the majority of attorney’s dislike marketing is that we were never taught how to do it in a professional and personal way.  Some of us view marketing as “unprofessional” or appalling.  Yellow page ads, obnoxious late night cable commercials, or costly glossy brochures all serve only to gratify an attorney’s ego rather than sell real benefits and value.  Today’s typical legal marketing activities represent the opposite ends of the spectrum…either professional garbage about the impressive “image” of the lawyer, or raunchy ads about getting the client massive amounts of money for injury claims.

            Attending the occasional power lunch or networking event doesn’t cut it any longer.  You need a plan that is strategic to your overall career goals, tactical to your daily activities, and built on client relationships, trust, and value.  You also need to adopt the mindset of a rainmaker, for being a rainmaker is the most important activity you’re going to be engaged in from here on out.  You are simply going to have to recognize that marketing is not selling your soul or compromising your ethics, but is the key that will dictate your future.   

            How?  First determine what it is you really want to be, do and have with respect to your legal career.  Failing to address these important and unique issues will render any marketing strategies completely useless and boring.  In other words, what do YOU want to do with your legal career; where do YOU want to do it, and what do YOU want your professional life to look?   The answers to these three important questions explores what inspires and motivates you, what it is you stand for, what activities you love to do, what environment you want to do them in, who you want to serve, and what you want your professional life to stand for. 

            When you’ve addressed these questions, you will need an easy and comfortable systematic plan to match up your desires with that of your prospect.  Then, it comes down to just three things that should be done each day:

1.      Every day do a little bit of client development;   

2.      Every day exceed your client’s expectations through a “memorable experience”; and

3.      Every day, follow up!

            

            When viewed correctly, marketing your solutions and value is about serving more, solving more and helping more!   It is financially rewarding and emotionally satisfying.  And when you experience the success this type of marketing brings, you will have more of the things you want out of your practice.  You’ll be able to pick and choose the cases you want and fire the clients that are ungrateful, unprofitable or annoying.  You’ll be able to leave the blackberry and cell phone turned off, take more vacations, do more pro bono work and accomplish all the things that you planned to accomplish when you first entered the field of law.   

Life is short...become a rianmaker and have more fun and freedom!  -Post by Cole Silver

            

Why Do Legal Rainmakers Have All The Fun?

It’s an all to familiar scene…you’re working feverishly for a law firm, putting in over 2000 hours per year of grueling days and weekends, always on call subjected to annoying ring tones from your cell phone or blackberry unable to tell when work ends and your personal time begins.  You work hard, really hard, make money for the firm and do everything you’re supposed to do.  Yet, something very important is missing.  Whether it’s the loss of control or extreme time famine, something has gone wrong. 
The fact is that law, like accounting, medicine, engineering, or any other enterprise is a business. And businesses exist to make money.  They are driven by sales, revenues and profits.  In law, revenues are derived from clients.  Therefore, having a steady stream of new and existing clients is the key to your financial success. 
Just being a good lawyer or a great legal tactician is not enough anymore.  Even if you graduated top of your Ivy League class, commanded a starting salary in the high six figure range, made partner in rapid speed and recently won a landmark decision, your chances of sustained success are still dependent on your rainmaking skills. 
No doubt the managing partners are very proud of your accomplishments. You’re written up in the firm newsletter and your resume and bio page in the firm’s brochure looks really good.  But the bottom line will always prevail.  Eventually, the managing partner will call you into the office, discuss the firms’ “profits per partner ratio” and ask: “So, what amount of revenues can we expect from you this year?” 
Internally, the law firm of today looks more like a business than ever before.  To the frustration of many of us, like their counterparts in the business world, revenues and earnings drive major decisions.  Today, even if you’re an excellent attorney recognized in your field, or bill a large number of hours, you can on longer assume that you’ll make partner and have a secure future in the firm.  What’s more, becoming a partner is no longer the Holy Grail it once was.  Partners who have failed to maintain a steady supply of clients and bring increased revenues into the firm are no longer protected.  New attorney designations, permanent staff lawyer positions, mass demotions, “de-equitization” and non-equity partner positions are on the rise leaving lawyers with new titles but less firm ownership and power.  While law firm leaders will say it’s impossible to define the criteria for partnership, it’s difficult to find an instance where someone with a substantial book of business didn’t remain an equity partner. 
What’s the answer…become a rainmaker!  Whether you’re an associate or partner in a law firm, recent graduate, in-house or even on your own, eventually you’ll come to realize that client development and rainmaking not only represent the key to your survival, but unlocks the door to your freedom, wealth and ultimate success. 

   Rainmaker’s Have a Great Lifestyle

Did you ever notice that rainmakers are the highest paid people in the firm?  Not only do they make more money, but they look good, dress well and probably have better sex.  The people who are really good at client development have a great life.  They are members of private clubs, dress in the finest clothes, have the contacts to get things done, eat at great restaurants, have the largest house in the best neighborhood, second homes at the beach, and most importantly, enjoy their practice more.  Oh yes my fellow brethren, rainmakers are not working on weekends grunting out obnoxious billable hours or working on document reviews or other mind-numbing work hoping that some day they can finally enjoy their professional and personal life. 
If you want independence and control over your life, as well as more money, friends, influence, freedom, and security then the answer is clear.  You have to become a rainmaker!
Being an effective rainmaker and marketing your services is not as hard as you may think.  In fact, done the right way, it can be downright enjoyable.  And when you experience the success it brings, you will have more of the things you want out of your practice.  You’ll be able to pick and choose the cases you want and fire the clients that are ungrateful and annoying.  You’ll be able to leave the blackberry and cell phone turned off, take more vacations, do more pro bono work and accomplish all the things that you wanted to do when you entered the field of law.
Sure, the housing bubble may burst, the stock market crash and the economy tank.  But armed with the right marketing attitude and a bucket load of clients, you could always start a thriving bankruptcy practice!

Cole Silver is a lawyer and certified career and marketing consultant.  His Expert Audio Series and book, “How to Create Wealth and Freedom in your Law Practice”, 101 Powerful Client Development & Retention Strategies for Attorneys can be ordered by going to http://www.findcareersuccess.com.   Cole is available for speaking engagements and consulting and can be reached by calling 609-306-8098 or by e-mail at cbsilver@yahoo.com.

How to Publicize Your Practice

Way too many attorneys act as though we still have those laws prohibiting them from advertising.

How else to explain why so many of them are just plain lousy when it comes to marketing their services and, specifically, generating free publicity?

In this 32-minute interview, I interview Joan Stewart about her best publicity tips for practitioners.  Joan is publisher of Publicyhound.com and a former reporter for several newspapers. She will teach you how to catch the attention of frazzled news directors, busy reporters and grumpy editors in an easy and fun way.  Learn how to become the “go-to” person for the media and get the visibility and creditability you deserve!

It’s one of our “Raindancing” segments, and you’ll come away with at least three great ideas you can start using in your practice today. 

Download joan_stewart_11.16.07.mp3