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AVVO Lawyernomics 2017 Law Firm Marketing – A Failure to Plan is a Plan to Fail NAME: Are you ready to COMMIT to growing your firm? www.HowToMANAGEaSmallLawFirm.com/Lawyernomics

AVVO Lawyernomics 2017 - s3. · PDF fileup a pen full of puppies to hold, pet and adore” ... In order for me to consider my business to be ... my business must produce, $_____ net

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AVVO Lawyernomics 2017Law Firm Marketing – A Failure to Plan is a Plan to Fail

NAME:

Are you ready to COMMIT to growing your firm?www.HowToMANAGEaSmallLawFirm.com/Lawyernomics

You may have already figured out these reasons for not committing plans for growing your law firm to paper...

You might not know enough...

You might not see clearly enough...

You might not believe enough...

You might not care enough to do the work.

This workbook requires you to physically write things down, to make the vision clear, to identify what you don’t know and commit yourself to what you believe.

(Adapted from Seth Godin’s “Ship It” available for free by conducting a simple internet search

using his name and the book’s title)

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics4

Happy Lawyers hijack Legal Tech NY!

“I loved this booth and now love Happy Lawyers and will pay thousands of dollars for whatever Happy Lawyers coaching and consulting they provide. These guys win, hands down.”

Legal Tech NY ~Juris

“BEST SWAG!”

“Reigning supreme in this year’s Best of ABA Techshow Swag post was How to Manage a Small Law Firm, which set

up a pen full of puppies to hold, pet and adore”

~ ABA

http://bit.ly/1SXMyVJ

http://bit.ly/1peOaT3

© 2016 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Appointment4

GET THE RECOGNITION YOUR FIRM DESERVESAPPLY TODAY!

VISIT WWW.LAWFIRM500.COM

AN AWARD CELEBRATING THE 500 FASTEST GROWING LAW FIRMS IN THE COUNTRY

w h at i s h ow t o m a n ag e a s m a l l l aw f i r m ?

LIVE QUARTERLY MEETINGS

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 5

w h at i s h ow t o m a n ag e a s m a l l l aw f i r m ?

our team

Rjon Robins Owner

Alejandra Leibovich Owner

Christopher Anderson President & COO

Rick Gramatges Senior Director of OPS

Chelsey Lambert VP Marketing

Athelene Gosnell Law Firm Management

Terrence Fogarty Law Firm Management

Caroline Finman Law Firm Management

Justin Crawford Law Firm Management

Renee Robertson Events Director

Kristen David Law Firm Management

Brian Matter Law Firm Management

Aron Schulz Law Firm Management

Henry Harlow Law Firm Management

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics6

“ You can’t plan a bright future with your head up your ass.

- Rjon Robins

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 7

b i o s

Christopher T. Anderson is a proud father, husband, pilot, entrepreneur and lawyer. Christopher has a singular passion for helping law firm business owners achieve success … on their terms. Mr. Anderson focuses on helping lawyers understand the fundamentals of running our special kind of business, with emphases both on our clients and on the stakeholders of the law firm, including an uncompromising focus on meeting the law firm owners’ own definitions of personal, professional and financial success. In short, through his frequent talks around the country, and his work with individual firms, Christopher helps them be Happy Lawyers!™

President & COO

Christopher Anderson

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics8

Making Your Law Firm BUSINESS Work For You

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 9

What’s going to STOP you

What’s going to Start you

Everything you need to know to grow a

law firm from $0 (start-up) to over 7

figures...if that’s what you want to do...

and help alot of people along the waY

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics10

Your client comes to you for advice. S/he wants to

invest in a business without a written business plan that

explains how the business is supposed to honor its legal,

finanancial and its professional obligations?

YES NO

QUESTION: Would you ever advise/allow your client

to make this investment?

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 11

YES NO

Do you have a written-down business plan

that explains in plain English how your

business is supposed to make a profit for ALL

your stakeholders?

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics12

W H AT I S A L AW F I R M ’ S B U S I N E S S P L A N “ s u p p o s e d t o b e ” ?

A business plan tells a story that is supported by numbers. Joan Magretta’s article “Why Business Models Matter” (Harvard Business Review, May 2002) states, “When business [plans] don’t work, it’s because they either fail the narrative test (the story doesn’t make sense) or the numbers test (the P&L doesn’t add up).”

In its simplest sense, a law firm’s business plan describes how the firm is supposed to make money (and how much) for its shareholders by serving its clients (and in how many different ways).

Law firms which fail to make enough money eventually face insolvency and soon cease to be of service to anyone. And too often a law firm’s financial troubles are heralded by predictable declines in client satisfaction, increased attorney and staff discontent and bar grievances.

It has been estimated that 54% of bar grievances filed nationally in the US trace their roots to one of four common shortcomings connected to the law firm’s business plan:

1.) No-one can explain in simple terms how the firm is supposed to deliver on promises made to its clients (the “factory” is broken);

2.) No-one can demonstrate how much or whether the firm is supposed to deliver on promises made to its investors and stakeholders (the “finances” are being neglected);

3.) No-one is showing-up to do the work of managing the business or minding the store (usually a sign of an immature business mindset); or

4.) Total absence of any written plans for the business at all (also known as “willful neglect”)

The business of a law firm is to sell legal services. The professional and profitable law firm accomplishes this legitimate business objective by helping its clients and prospective clients evaluate their situation and current course of conduct, and where appropriate, offering to provide professional services which are reasonably-calculated to help the client improve the situation, on terms which are favorable to both parties.

There are four predictable “stages” a law firm goes through from start-up to maturity: • $0 - 250K: Creating a Law Practice• $250K - $500K: Upgrading to a Law Business • $500K - $1M: Breaking the 7 Figure Barrier • $1M: Solo Millionaire Firm

These four stages are most obviously recognized on financial terms. But a more sophisticated analysis reveals increased equity, personal freedom and professional satisfaction amongst owners, shareholders, staff and often clients too.

A law firm’s business plan is just that. A plan for the business. A law firm’s written plan for growth is meant to be an internal working document. It should not be confused with an investment grade or the credit-grade business plan, which typically requires far more rigorous research, analysis and documentation.

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 13

PERSONAL BUDGETInstructions: Figure out how much it cost to live the way you are currently living, then figure out how you want to be living, then figure out how much it cost to live the way you want to be living.

HOME NOW GOAL % DIFFERENCE

• Mortgage/Rent

• Utilities

• Telephone/Cell

• Domestic Services

• Maintenance

• Groceries

• Other

ENTERTAINMENT • Restaurants

• Theater/Sporting events/etc.

• Hobbies

• Social Clubs

• Dues/Subscriptions

• Toys (ex: boat, motorcycle, etc.)

EDUCATION • Adult personal development

• Child 1 529 plan/current tuition

• Child 2 529 plan/current tuition

• Child 3 529 plan/current tuition

• Child 4 529 plan/current tuition

• Other

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics14

INSURANCE NOW GOAL % DIFFERENCE

• Health

• Life

• Disability

• Auto Home

• Boat

• Other

DEBT SERVICE • Credit Card 1

• Credit Card 2

• Credit Card 3

• Student Loans

• Personal lines of credit

• Alimony

• Child support

• Retirement

• Other

SAVINGS/RETIREMENT

• Account 1

• Account 2

• Account 3

• Other

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 15

A. Your definition of a “successful” business –

In order for me to consider my business to be successful, it must provide $ _________ per year/ $ _________ per month income for me.

In order for me to consider my business to be successful, it must be able to sustain itself as a going concern with me away on “emergency access only” for _________ consecutive wks/year, so that I can __________________________ .

On average, I want to be able to run my business giving it _________ hr/wk + ___________ wks/year.

Current How I want to be living 18-24 months

Household: Household:

Transportation: Transportation:

Education: Education:

Insurance: Insurance:

Total $ Apples Total $ Oranges

Instruction: Please keep apples with apples and oranges with oranges. To do this, convert all annual cost to a monthly expense. For example, if your family annual vacation will cost $12,000, simply divide that annual cost by 12 to get $1,000/mo.

To live the way I want to be living, 18-24 months fro now, my business must produce, $_________ net profitfor me and my family. This represents a difference of _________ % (oranges – apples / apples) from wheremy business is today. Note: Please complete this exercise for each owner who does not share household.

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics16

B. To be a “successful” business that I can be proud of, my business should help / solve / create /deliver /make the world a better place for (describe your target customer /client) by (describe how your business will will accomplish this objective.)

C. In return for the value my business produces for it’s customers /clients passengers / patients / the world, it is my goal that my family and I should enjoy the following material comforts:

D. Volume of Business • Net Profit Required ÷ Profit Margin (%) = Gross Revenue Required • Gross Revenue Required ÷ Average Case Value = # Sales Required •# Sales Required ÷ Conversion Rate (Prospect to Client) = # Prospects Required (“At Bats”) •# Prospects required /12 = “at bats” required each month.

Example: • $100,000 Net / 50% average profit margin (.50) = $200,000 Gross; • $200,000 Gross / $2,000 Avg sale amount = 100 Sales required; • 100 Sales required / .33 conversion rate (1 out of 3) = 303 Prospects required • 303 Prospects (annually) / 12 = marketing must deliver 25.5 prospects per month

©2016 How to Manage a Small Law Firm II, Incorporated. All Right Reserved.14 15©2016 How to Manage a Small Law Firm II, Incorporated. All Right Reserved.

© 2016 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Appointment 11

v

W H AT I S A L AW F I R M ’ S B U S I N E S S P L A N “ s u p p o s e d t o b e ” ?

A business plan tells a story that is supported by numbers. Joan Magretta’s article “Why Business Models Matter” (Harvard Business Review, May 2002) states, “When business [plans] don’t work, it’s because they either fail the narrative test (the story doesn’t make sense) or the numbers test (the P&L doesn’t add up).”

In its simplest sense, a law firm’s business plan describes how the firm is supposed to make money (and how much) for its shareholders by serving its clients (and in how many different ways).

Law firms which fail to make enough money eventually face insolvency and soon cease to be of service to anyone. And too often a law firm’s financial troubles are heralded by predictable declines in client satisfaction, increased attorney and staff discontent and bar grievances.

It has been estimated that 54% of bar grievances filed nationally in the US trace their roots to one of four common shortcomings connected to the law firm’s business plan:

1.) No-one can explain in simple terms how the firm is supposed to deliver on promises made to its clients (the “factory” is broken);

2.) No-one can demonstrate how much or whether the firm is supposed to deliver on promises made to its investors and stakeholders (the “finances” are being neglected);

3.) No-one is showing-up to do the work of managing the business or minding the store (usually a sign of an immature business mindset); or

4.) Total absence of any written plans for the business at all (also known as “willful neglect”)

The business of a law firm is to sell legal services. The professional and profitable law firm accomplishes this legitimate business objective by helping its clients and prospective clients evaluate their situation and current course of conduct, and where appropriate, offering to provide professional services which are reasonably-calculated to help the client improve the situation, on terms which are favorable to both parties.

There are four predictable “stages” a law firm goes through from start-up to maturity: • $0 - 250K: Creating a Law Practice• $250K - $500K: Upgrading to a Law Business • $500K - $1M: Breaking the 7 Figure Barrier • $1M: Solo Millionaire Firm

These four stages are most obviously recognized on financial terms. But a more sophisticated analysis reveals increased equity, personal freedom and professional satisfaction amongst owners, shareholders, staff and often clients too.

A law firm’s business plan is just that. A plan for the business. A law firm’s written plan for growth is meant to be an internal working document. It should not be confused with an investment grade or the credit-grade business plan, which typically requires far more rigorous research, analysis and documentation.

© 2016 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Appointment12

7 PARTS OF A LAW FIRM

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 17

7 PA RT S O F A L AW F I R M

©2016 How to Manage a Small Law Firm II, Incorporated. All Right Reserved.14 15©2016 How to Manage a Small Law Firm II, Incorporated. All Right Reserved.

© 2016 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Appointment 11

v

W H AT I S A L AW F I R M ’ S B U S I N E S S P L A N “ s u p p o s e d t o b e ” ?

A business plan tells a story that is supported by numbers. Joan Magretta’s article “Why Business Models Matter” (Harvard Business Review, May 2002) states, “When business [plans] don’t work, it’s because they either fail the narrative test (the story doesn’t make sense) or the numbers test (the P&L doesn’t add up).”

In its simplest sense, a law firm’s business plan describes how the firm is supposed to make money (and how much) for its shareholders by serving its clients (and in how many different ways).

Law firms which fail to make enough money eventually face insolvency and soon cease to be of service to anyone. And too often a law firm’s financial troubles are heralded by predictable declines in client satisfaction, increased attorney and staff discontent and bar grievances.

It has been estimated that 54% of bar grievances filed nationally in the US trace their roots to one of four common shortcomings connected to the law firm’s business plan:

1.) No-one can explain in simple terms how the firm is supposed to deliver on promises made to its clients (the “factory” is broken);

2.) No-one can demonstrate how much or whether the firm is supposed to deliver on promises made to its investors and stakeholders (the “finances” are being neglected);

3.) No-one is showing-up to do the work of managing the business or minding the store (usually a sign of an immature business mindset); or

4.) Total absence of any written plans for the business at all (also known as “willful neglect”)

The business of a law firm is to sell legal services. The professional and profitable law firm accomplishes this legitimate business objective by helping its clients and prospective clients evaluate their situation and current course of conduct, and where appropriate, offering to provide professional services which are reasonably-calculated to help the client improve the situation, on terms which are favorable to both parties.

There are four predictable “stages” a law firm goes through from start-up to maturity: • $0 - 250K: Creating a Law Practice• $250K - $500K: Upgrading to a Law Business • $500K - $1M: Breaking the 7 Figure Barrier • $1M: Solo Millionaire Firm

These four stages are most obviously recognized on financial terms. But a more sophisticated analysis reveals increased equity, personal freedom and professional satisfaction amongst owners, shareholders, staff and often clients too.

A law firm’s business plan is just that. A plan for the business. A law firm’s written plan for growth is meant to be an internal working document. It should not be confused with an investment grade or the credit-grade business plan, which typically requires far more rigorous research, analysis and documentation.

© 2016 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Appointment12

7 PARTS OF A LAW FIRM

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics18

i c a n e x p l a i n t o m y s t a k e h o l d e r s h o w e a c h o f “ t h e 7 m a i n p a r t s ” o f m y b u s i n e s s a r e s u p p o s e d t o w o r k .

KEY 0 - Never really thought about it before

1 - I could explain but it would have to be verbal because it’s not in writing.

2 - I could show them something in writing but it’s more than 24 months out of date.

3 - I have this part of my business plan in writing and relevant to how my business currently operates.

SCORECIRCLE ONE

Marketing 0 1 2 3

Sales 0 1 2 3

Factory 0 1 2 3

People 0 1 2 3

Physical Plant 0 1 2 3

Money & Metrics 0 1 2 3

You 0 1 2 3

TOTAL:

1Marketing

2Sales

3Factory

4People

5Physical

Plant

7You

6Money & Metrics

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 19

0 - 7 • Probably your environment is ruling YOU. Your life is mostly REACTIVE. Few choices. Little control. You may not even believe you can have a million dollar solo law firm. You may still think the only way to double your current revenues is to double your workload. And you’re already working enough! There may be more evidence in your life and business right now that you cannot reach the next level of growth than there is evidence that you CAN. And it’s very likely too, that the only company you have are others who are similarly-situated people who like to make alot of excuses.

8 - 10 • Very likely you feel very frustrated. Because you KNOW you have alot of untapped POTENTIAL. But you feel like you can’t get ahead. Some days you probably feel like you want to burn your office down and hide under the covers. Other days, you get a glimpse of the possibilities and feel inspired. If only you could get your business more under control and have more “good” days.

11 - 15 • Most days you probably feel somewhat inspired. Depending on the velocity of growth in your business you may still wonder at how fast it can all happen and wonder if it’s just a fluke. Ordering from the “left” side of the menu (the side without the prices) is beginning to feel natural. And it should! Because you’re beginning to figure out that you can grow your business simply by using it as a vehicle to help more people. Even if you can’t prove or explain or defend it to anyone else you know in your gut you could break the 7 figure barrier if only you could get some clarity around some key points about your business. And having a group of like-minded entrepreneurial peers to collaborate with, hold you accountable, and keep you motivated would certainly help too.

16 - 21 • Now you know why highly-sucessful people the world-over say it’s lonely at the top. You want to know what you’re truly capable of. But most of the people around you cannot fathom why you still get up & go to work every day. They call you a workaholic. But that’s only because they have no idea to love what you do. They don’t understand. They think you’re just being greedy to want to grow your business. You don’t dare try to explain that your business only grows because it helps more people, and what’s wrong with that? You can’t talk about your favorite subect with your clients. Most of your friends & family have no real idea what it means to be CEO of a successful & growing business that grows by helping more people. And you dare not share your feeling with your staff.

Revenues are probably $0-250K

Revenues are probably $250-500k

Revenues are probably $500k-1MM

Revenues likey over $1MM

g r a d i n g

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics20

B U S I N E S S P L A N M AT R I X

Marketing Sales Factory PeoplePhysical

PlantMoney & Metrics You

Internal Policies

External Policies

Procedures

Check Lists

Templates

Examples

Systems

+

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 21

What Parts of Your L ife Will Be

WORSEWhen the Revenues of Your Business

ARE DOUBLE?

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics22

Our actions express our priorities.

-Mahatma Gandhi

People who are interested, do what’s convenient,

People who are committed do whatever it takes

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 23

OUR DEFINITION OF A

SUCCESSFUL

BUSINESSFinancial:

Personal:

Professional:

Note:

The business should produce enough NET income to afford the owner(s) the lifestyle they actually WANT to live, not just what they can get-by on, settle-with or compromise on. We don’t care if you want to live in a big house or a little house, take your family on luxury vacations or go camping, provide a private school education or leave it up to your kids to get scholarships becuase you think it builds character. We love to hit the occasional dive-bar and taco stand too. The only thing that matters here is that you’re honest with YOURSELF about how you REALLY want to be living and that your business generates enough net-income for you to afford THAT lifestyle.

The business should honor its legal, financial and professional obligations while affording the owner(s) enough control over the amount and quality of time they have to enjoy the fruits of their labors. If the only way for your business to make a million dollars is for you to sacrifice your personal life, you don’t really own a business you only have a job. And your job owns you.

The business should work for its owners, not the other way around. Being a “business” means it can continue to honor its legal, financial and professional obligations even when the owner(s) choose to (or have to) step-away for a little or a long-time with “Emergency Access Only”. The first 6 “Main Parts” of the business should be in alignment with and operate to support the 7th. That means the business should do work the owner is proud of. The business should improve people’s lives in ways that matter to the owner(s) of the business. And the business should be an expression-of and in alignment-with the values of its owner(s).

You may not agree with OUR definition of a “Successful” business. That’s ok with us. We can still do business together. We can still be friends. At the end of the day the only person whose definiton of a “successful” business that should really matter to YOU...is your own!

“They will tell you you can’t sleep alone in a strange place. Then they’ll tell you you can’t sleep with somebody else. Ah, but sooner or later you sleep in your own space.. Either way it’s okay you wake up with yourself.” ~ Billy Joel “My Life”

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics24

YOUR DEFINITION OF A

SUCCESSFUL

BUSINESS

Professionally:

Other:

Time: WKS/YR:

HRS/WK:

Financial / Money: $ (Net Revenue)

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 25

w h e r e i s yo u r b u s i n e s s n ow ?

FINANCIAL PERFORMANCE

Gross revenues for last 12 months:

Gross revenues for PREVIOUS 12 months:

Gross revenues for the last 90 days:

Number of weeks worked in last 12 months:

Number of weeks worked in PREVIOUS

12 months:

Number of weeks worked in last 90 days:

Number of hours worked in an

“average week”:

Number of weeks that you took off in the last 12 months:

Number of weeks that you took off in the

PEVIOUS 12 months:

Number of weeks that you took off in the

last 90 days:How happy are you?

PERSONAL

PROFESSIONAL

* It is an utter cop-out to say there is no such thing as an “average” week for you. This is also a mathematical impos-

sibility. We know some weeks will be crazy and others will be quite slow. What’s average/typical/normal?

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics26

PROFESSIONAL CONTINUED

How happy/confident are you about each of The 7 Main Parts of your business to keep-on, keeping-on even with you away on “Emergency Access Only” for 30 consecutive days:

SCORECIRCLE ONE

Marketing A B C D F

Sales A B C D F

Factory A B C D F

People A B C D F

Physical Plant A B C D F

Money & Meterics A B C D F

You A B C D F

TOTAL:

÷ BY 7:

TOTAL SCORE:

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 27

n o t e s

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics28

The 4 Stages of Law Firm Growth:

How to identify the stage you’re in and push through

so you don’t get stuck.

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 29

4 stages of law firm growth

CREATING A SUCCESSFUL PRACTICE

UPGRADING YOUR PRACTIC TO A SUSTAINABLE BUSINESS

GROWING YOUR BUSINESSTO BREAK 7 FIGURES

BECOMING A CEO: PROFITING FROM YOUR PURPOSE

STAGE 1$0 - $250,000

STAGE 2$250,000 - $500,000

STAGE 3$500,000 - $1MM

STAGE 4M$1MM ++

CHALLENGES: CHALLENGES: CHALLENGES: CHALLENGES:

OPPORTUNITIES: OPPORTUNITIES: OPPORTUNITIES: OPPORTUNITIES:

• TOO MUCH TIME WITH WRONG CLIENTS

• HAVE TO DO ALL THE WORK

• DONʼT BELIEVE GROWTH IS POSSIBLE

• LEARN TO EFFECTIVELY SELL LEGAL SERVICES

• GAIN CLARITY & FOCUS ON BUSINESS MODEL

• SYSTEMS BEGIN FORMING

• MORE TIME OFF• REVENUES BECOME

MORE RELIABLE & PREDICTABLE

• MAXIMIZE PROFIT• OPPORTUNITY TO SCALE• CAN STEP AWAY FROM

FIRM EASILY

• CHANGE THE WORLD• DISCOVER YOUR REAL

POTENTIAL • CONTROL YOUR TIME• MORE FUN!!

• UNWILLING TO GIVE UP THE “DOING”

• AD-HOC SYSTEMS ARE OUTGROWN

• BUILD & LEAD YOUR “A-TEAM”

• FINANCES NOW WARRANT CONTROLS

• FEEDING THE FACTORY• OUTGROWING PHYSICAL

PLANT

• LONELINESS• BOREDOM• STAKES ARE HIGHER

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics30

Stage 1 – Creating A Successful Practice

$0 - $250,000

OPPORTUNITIES CHALLENGES

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 31

OPPORTUNITIES CHALLENGES

Stage 2 – Upgrading to a Sustainable Business $250,000 - $500,000

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics32

OPPORTUNITIES CHALLENGES

Stage 3 – Growing your Business to Break 7 Figures

$500,000 - $1,000,000

© 2017 How To MANAGE a Small Law Firm.com - Schedule An Informative Call: www.HowToMANAGEaSmallLawFirm.com/Lawyernomics 33

OPPORTUNITIES CHALLENGES

Stage 4 – Becoming a CEO: Profiting From Your Purpose

$1,000,000 +

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Marketing:

Building a business by helping others

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what happens to each part of your business if:

...If Marketing delivers TOO MANY of the wrong kinds

of potential new clients to Sales?

...If Marketing deliver the right kinds of potential

new clients but to the WRONG PLACE or at the WRONG

TIME?

...If Marketing delivers the right kinds of potential

new clients to the right place, at the right time, but

with the WRONG EXPECTATIONS and/or in the WRONG

FRAME OF MIND?

1Marketing

2Sales

3Factory

4People

5Physical

Plant

7You

6Money & Metrics

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Marketing is fun when it’s about helping others

They’re Not Buying What I’m Selling

How to build a marketing plan.

The TWO main jobs of marketing.

Choosing the right kind of marketing for where you are.

Funnel management.

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m a r k e t i n g p l a n

NET Income Goal:

GROSS Revenue Req:

Value Avg Case:

Net x 2= Gross

Gross / Avg Val= #Cases

How many cases does the firm need?

Cheat Sheet

Historical Conversion Rate:

How many PNC does marketing have to deliver?

Per Year:

Per Month:

Per Week:

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M A R K E T I N G : K N OW YO U R C L I E N T

4 TYPES OF PERSPECTIVE NEW CLIENTS:

1. The True Believer

2. The Skeptic With Criteria

3. The Skeptic With No Criteria

4. The Naysayer

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MARKETING: CLIENT GRADING SCALE

A

B

C

D

F

Types of cases we take

Types of cases we don’t take

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M A R K E T I N G F U N N E L

Have a problem or opportunity they don’t know

about ($1MM+)

Know they have a problem or opportunity

and are looking for a solution ($500K – $1MM)

They have a problem or opportunity and think

you might be the solution ($250 – $500K)

They have a problem or opportunity that you can help them solve (0 – $250K)

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M A R K E T I N G : S A M P L E S T R AT E G I E S

examples: monthly inVestment:

Paper newsletter mailed every month for 12 months to: 500 former clients; 100 strategically-chosen potential referral sources; All 100 current clients; and 300 prospective new clients we’ve met through networking, who requested it from the website, and just in our daily dealings.

$2,500

Pursue relevant-industry speaking engagements $1,000

“Work” an industry networking event twice-a-month every month for 12 months. “Working” a networking event is not the same thing as just going there and socializing with a bunch of people you already know or just going there to try & meet everyone in the room. The group must be chosen strategically, there must be an in-room strategy, and a follow-up strategy too.

$500

Begin experimenting-with and testing online ads $500

Maintain monthly file review & status-report procedures with all current clients. $500

Maintain Former Client Courtesy Check-in Procedure $500

Website strategy to build your list. Meaning, your website should have a strategy that causes the right kinds of prospective clients to request more information if they’re not ready to shchedule an appointment right now.

$100

Interview potential referral sources and assemble your “Team 100” $100

Electronic version of paper newsletter emailed to all of the above PLUS 2,500 more potential new clients and referral sources who requested it via the website, social media, etc.

$100

Maintain Your Rainmaking Rolodex $25

Make 3 Referrals Per Week $0

Social Media Strategy $0

total annual inVestment: $68,800

roi: $400,000 (580%)

NOTE: Do NOT try to implement most/all of this when your business is still only in Stage 1!!! Start with a few. Test. Refire. Test.

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n o t e s

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Download the complimentary list at www.HowToMANAGEaSmallLawFirm.com/151Marketing

151 Things You Can Do To Market Your solo law firm

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Marketing Execution:

The small law firm’s guide to implementing effective marketing campaigns

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M A R K E T I N G C A M PA I G N P L A N

CAMPAIGN NAME: _____________________________________________

CAMPAIGN TYPE: _____________________________________________

# Sales Needed _____________________________________

Appointment to Sales = ____________ = ____________

Booking to Appointment Show up = ____________ = ____________

Call to Action to Booking = ____________ = ____________

Click to Call to Action = ____________ = ____________

Impression to Click = ____________ = ____________

17

19

125

250

25,000

33%

90%

10%

50%

1%

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M A R K E T I N G C A M PA I G N P L A N

CAMPAIGN NAME: _____________________________________________

CAMPAIGN TYPE: _____________________________________________

# Sales Needed _____________________________________

Appointment to Sales = ____________ = ____________

Booking to Appointment Show up = ____________ = ____________

Call to Action to Booking = ____________ = ____________

Click to Call to Action = ____________ = ____________

Impression to Click = ____________ = ____________

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M A R K E T I N G C A M PA I G N P L A N

1 2 3 4 5

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MARKETING CAMPAIGN PLAN

PAY PER CLICK Don’t pay more than you need to

1 2 3 4 5

1

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MARKETING CAMPAIGN PLAN

PAY PER CLICK Don’t pay more than you need to

1 2 3 4 5

1

pay per click

1

Don’t pay more than you need to

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MARKETING CAMPAIGN PLAN

PAY PER CLICK Don’t pay more than you need to

1 2 3 4 5

1

social media

2

It’s not them, it’s you

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MARKETING CAMPAIGN PLAN

PAY PER CLICK Don’t pay more than you need to

1 2 3 4 5

1

your website

3

What it is for, and what it isn’t!

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PRINT ADVERTISINGLuckily your competition is

doing it wrong

WORKSHOPSEducate your market with

compelling content

4 5

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MARKETING CAMPAIGN PLAN

PAY PER CLICK Don’t pay more than you need to

1 2 3 4 5

1

print advertisign

4

Luckily your competition is doing it wrong

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MARKETING CAMPAIGN PLAN

PAY PER CLICK Don’t pay more than you need to

1 2 3 4 5

1

WORKSHOPS

5

Educate your market with compelling content

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MARKETING CAMPAIGN PLAN

PAY PER CLICK Don’t pay more than you need to

1 2 3 4 5

1

WHAT DO I DO WHEN ONE STOPS WORKING?

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M A R K E T I N G C A M PA I G N P L A N

CAMPAIGN NAME: _____________________________________________

CAMPAIGN TYPE: _____________________________________________

# Sales Needed _____________________________________

Appointment to Sales = ____________ = ____________

Booking to Appointment Show up = ____________ = ____________

Call to Action to Booking = ____________ = ____________

Click to Call to Action = ____________ = ____________

Impression to Click = ____________ = ____________

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M A R K E T I N G C A M PA I G N P L A N

CAMPAIGN NAME: _____________________________________________

CAMPAIGN TYPE: _____________________________________________

# Sales Needed _____________________________________

Appointment to Sales = ____________ = ____________

Booking to Appointment Show up = ____________ = ____________

Call to Action to Booking = ____________ = ____________

Click to Call to Action = ____________ = ____________

Impression to Click = ____________ = ____________

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M A R K E T I N G C A M PA I G N P L A N

CAMPAIGN NAME: _____________________________________________

CAMPAIGN TYPE: _____________________________________________

# Sales Needed _____________________________________

Appointment to Sales = ____________ = ____________

Booking to Appointment Show up = ____________ = ____________

Call to Action to Booking = ____________ = ____________

Click to Call to Action = ____________ = ____________

Impression to Click = ____________ = ____________

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M A R K E T I N G C A M PA I G N P L A N

CAMPAIGN NAME: _____________________________________________

CAMPAIGN TYPE: _____________________________________________

# Sales Needed _____________________________________

Appointment to Sales = ____________ = ____________

Booking to Appointment Show up = ____________ = ____________

Call to Action to Booking = ____________ = ____________

Click to Call to Action = ____________ = ____________

Impression to Click = ____________ = ____________

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M A R K E T I N G C A M PA I G N P L A N

CAMPAIGN NAME: _____________________________________________

CAMPAIGN TYPE: _____________________________________________

# Sales Needed _____________________________________

Appointment to Sales = ____________ = ____________

Booking to Appointment Show up = ____________ = ____________

Call to Action to Booking = ____________ = ____________

Click to Call to Action = ____________ = ____________

Impression to Click = ____________ = ____________

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IDEA TO IMPLEMENT BEST FIRST ACTION(S)

1

2

3

4

5

6

PERSONAL PROFESSIONAL FINANCIAL

PERSONAL PROFESSIONAL FINANCIAL

Which idea on this page, if implemented, would have thebiggest positive impact on your business and/or life? #

PERSONAL PROFESSIONAL FINANCIAL

PERSONAL PROFESSIONAL FINANCIAL

PERSONAL PROFESSIONAL FINANCIAL

PERSONAL PROFESSIONAL FINANCIAL

B E S T O F S E S S I O n

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Automatic Referrals:

ow to trigger more repeat and referral business from current and former clients

b o n u s m at e r i a l s

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Stop NetSocializing and start NetWorking

Super Networking

Knowing the difference.

Magic statements.

Networking goals.

Understanding why we are networking in the first place.

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How to trigger more repeat and referral business from current and former clients

Automatic Referrals

How to cultivate referral sources.

It’s all about them!

Keeping referral sources loyal to you.

The other magic words.

The magic words.

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TEAM 100 MARKETING SYSTEM

Put Your Networking / Referral Program On Steroids

USING THE TEAM 100 SYSTEM

Introduction:The ‘Team 100’ referral program is perhaps the most powerful referral-generating program there is. It can boost your referrals 100-fold in no time at all. If done correctly, it will take no more than just a couple of hours of your time each month. The prescription that follows has been specially adapted for the busy lawyer who owns a small law firm. It is based on original work by New York Times Bestselling author and internationally acclaimed expert on networking, Bob Burg and marketing expert, David Frey, who learned about it from the late Thomas Leonard.

The idea is to educate 100 (actually 99 – because you’re one of them!) other professionals on what you do and at the same time, ask them to tell you what it is they do. No favors, no begging, no debt, no keeping score. Just an honest, generous and powerful approach.

Why other professionals? Because professionals know and come in contact with lots of other people, some of whom are absolutely perfect to be your clients. It’s just a matter of expanding your network to tap into the network of other professionals. Simple, doable, easy. No selling required, just honesty.

This marketing system is great for you to use because…

• It really does give you a fabulous network of professionals to help you build your business very quickly

• You can quickly demonstrate your expertise by keeping in touch with your Team each month

Why Is This Marketing System So Effective?1.Your Team 100 is easy to create.

2.Other professionals will respond very positively to the Team 100 format

3.You get yourself known very quickly by the professionals in your locality

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TEAM 100 MARKETING SYSTEM

Materials And Resources

• Team 100 Form

The Process

For a quick guide, please see ‘Team 100 Marketing System Process Flow Chart’.

Team 100 Marketing System Process Flow Chart

1. Print Team 100 Form

2. Collate Contact Details

3. Send Letter And Form

4. Grow Your Team

5. Monthly Follow-Up

6. Generate A Lifetime Of Referral Income

7. Manage The Response

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TEAM 100 MARKETING SYSTEM

TEAM 100 FORMSpecialty Name Phone E-mail

Business and Work

1 Architect - Commercial

2 Business Broker

3 Business Coach

4 Car Leasing Expert

5 Career Consultant/Planner

6 Computer Consultant

7 Conflict Management Expert

8Estate Agent - Commercial Property

9 Executive Coach

10 Graphic Artist

11Head Hunter/Job Placement/Recruiter

12Independent Financial Adviser (Commercial)

13Insurance Broker (Commercial)

14Internet Marketing (SEO, Pay Per Click, etc.)

15 Internet Service Provider

16 Land Agent (Commercial)

17Marketing/Busines Development

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TEAM 100 MARKETING SYSTEM

Specialty Name Phone E-mail

18Painter and Decorator – (Commercial)

19 Printer/Copy Place

20 Professional Networker

21 Professional Writer

22 Sales Training Expert

23 Software Consultant

24 Team Building Consultant

25 Technical Writer

26 Time Management Coach

27Website DesignerMoney and Legal

Money and Legal

28 Accountant - CPA

29Attorney - Copyright/ Trademark

30Attorney – Corporate/ Business

31 Attorney - Criminal

32 Attorney - Estate

33 Attorney – Family Law

34 Attorney – International

35 Attorney – Personal Injury

36 Attorney - Real Estate

37 Attorney - Small Business

38 Attorney – Tax

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TEAM 100 MARKETING SYSTEM

Specialty Name Phone E-mail

39 Bank Loan Officer

40 Bank Manager

41Bookkeeper/Bill Paying Service

42Independent Financial Ad-viser

43 Insurance - Business

44 Insurance – Home/Auto

45 Insurance – Liability

46Insurance – Life/Health/Disability

47 Property Manager

48 Realtor - Commercial

49 Realtor - Residential

50Retirement Counselor/Planner

51 Stockbroker

52 Venture Capitalist

Personal and Health

53 Acupuncturist

54 Audiologist

55 Chiropractor

56 Dentist/Cosmetic Dentist

57 Developmental Disabilities

58 Elder Care Facility

59 Elder Care Specialist

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TEAM 100 MARKETING SYSTEM

Specialty Name Phone E-mail

60 Fertility Expert

61 Funeral Director

62 Orthodontist

63 Massage Therapist

64 MD - Cosmetic Surgeon

65 MD - Dermatologist

66 MD – Family Medicine

67 MD – Internist

68 MD – OB/GYN

69 MD – Ophthalmologist

70 MD - Psychiatrist

71 MD - Sports

72 ND (Naturopath)

73 Nutritionist

74 Pharmacist

75 Physiotherapist

76 Speech Therapist

77 Therapist - ADD Expert

78 Therapist – Depression

79 Therapist - Relationships

Personal Services

80 Adoption Expert

81 Air conditioning/Heating

82 Architect

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TEAM 100 MARKETING SYSTEM

Specialty Name Phone E-mail

83 Auto-mechanic/Car care

84 Car Leasing Expert

85 Carpet Cleaner

86 Caterer

87 Childcare/Babysitter/Nursery

88Clothing Store Owner – Children’s

89 Clothing Store Owner – Men’s

90Clothing Store Owner – Women’s

91Clothing Store Owner – Used Clothing

92 Cobbler – Shoe Repair

93 Dog Walker – Pet Sitter

94 Dry Cleaner

95 Electrician

96 Event Planner

97 Florist

98 Food Delivery Service

99 Golf Pro

100 Home School Expert

101 Handyman/woman

102 Housekeeper/Cleaning

103 Image Consultant

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TEAM 100 MARKETING SYSTEM

Specialty Name Phone E-mail

104 Interior Designer/Decorator

105 Jeweler

106 Landscaper

107 Life Coach

108 Manicurist/Pedicurist

109 Midwife

110 Minister/Clergy

111 Painter - Exterior

112 Painter & Decorator - Interior

113 Personal Assistant (Real)

114 Personal Assistant (Virtual)

115Personal Concierge - Errands/Shopper

116 Personal Trainer

117 Pest Control

118 Pet Trainer

119 Plumber

120 Portrait Photographer

121 Professional Gift Service

122 Professional Organizer

123 Psychic

124 Psychologist

125 Restaurant Owner

126 Self Defense Trainer

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TEAM 100 MARKETING SYSTEM

Specialty Name Phone E-mail

127 Skin Care Specialist - Spa

128 Speaking Coach

129 Stress Reduction Coach

130Tailor131Therapist - Addictions

132 Travel Agent

133 Veterinarian

134 A Good Guy to Know RJon Robins 888-765-7460

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TEAM 100 MARKETING SYSTEM

MEMORY JOGGERRelatives: I Know Someone Who Is A:Parents Nurse Garage MechanicGrandparents Golf Pro EditorSisters Student Lab TechnicianBrothers Fashion Model PrinterUncles Security Guard Restaurant OwnerAunts Computer Technician / Repair Restaurant OwnerCousins Sheriff Office Manager

Secretary SurgeonWho Is My: Welder LibrarianAccountant Music Teacher Real Estate AgentDentist School Teacher Interior DecoratorFamily Doctor Seamstress LifeguardMinister Carpenter WaitressFinancial Planner Pilot/Flight Attendant Notary PublicHairstylist Bus Driver Antique DealerDrycleaner Bank Teller ContractorMechanic Motel OwnerChiropractorChiropractor Dietitian ElectricianBanker Fireman Police OfficerInsurance AgentLoan OfficerRealtor

Salesman / Sales woman ManagerWho Sold Me My:House I Know Someone Who:Car/Tires Goes to Church Was in the MilitaryTV/Stereo Lives Next Door Goes BowlingHunting License Teaches my Kids Is my Former BossBusiness Clothes Was my Best Man Was my TeacherComputer Was my Maid Of Honor Repaired my TVAir Conditioner Was my Photographer Was in my Car PoolRoof Is my Babysitter Cuts my GrassPest Control Fixes my car Cuts my HairPersonal Clothing/Shoes Golfs Plays Softball / Basketball

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IDEA TO IMPLEMENT BEST FIRST ACTION(S)

1

2

3

4

5

6

PERSONAL PROFESSIONAL FINANCIAL

PERSONAL PROFESSIONAL FINANCIAL

Which idea on this page, if implemented, would have thebiggest positive impact on your business and/or life? #

PERSONAL PROFESSIONAL FINANCIAL

PERSONAL PROFESSIONAL FINANCIAL

PERSONAL PROFESSIONAL FINANCIAL

PERSONAL PROFESSIONAL FINANCIAL

B E S T O F b o n u s m at e r i a l s

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