“Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself.” ~Rumi If you’re reading this blog, chances are pretty high that you have big goals in your practice, business and your life. You are committed to making a difference with your clients, have a certain quality of life, create a certain culture at the law firm, increase revenue by 30%, or some other goal. But sometimes things happen and what we worked so hard for, ends up coming up short instead. … [Read more...] about 4 Questions to Ask Yourself to Accomplish Your Goals with More Velocity
One of my goals this year is to examine each area of my life, look at what’s working well and what’s not, and discover what may be missing that would give me more power and satisfaction in that area. As a result, my relationships with family and friends have grown, and I am actively looking to invest in a new home. This got me thinking, what if we did a similar investigation into a business, specifically the legal business. So, stop for a moment and consider your response to this question…. … [Read more...] about The Secret to Success Hidden from Your View
At the Academy, this past week we wrote acknowledgements for each of our colleagues. It’s an exercise the Academy team repeats each January, reflecting on the prior year and how each person has made a difference for us individually. It allowed me to stop and reflect about each of my co-workers; on their strengths, natural talents, and the skills and qualities they contribute. These traits are what makes our team of “A-players” so powerful, passionate and tenacious in providing transformational … [Read more...] about The Power of Acknowledgment in Team Building
As business owners, MONEY is always top of mind – you have revenue goals, actual profits and sales, average fees, marketing expenses, costs per client, revenue per employee… really, the list of numbers is endless. While not being a number lover myself, I am intrigued by the story that numbers tell. Numbers also tell us other stories, such as our productivity level, marketing effectiveness, retention percentage, and more. Numbers can be our friend if we allow them to be, helping us reach those … [Read more...] about Maximize Your Marketing Budget: 4 No Cost Ways to Increase Revenue
This summer, as part of the training course on Creating Your Marketing Plan, we discussed “Effective Copywriting” in great detail. It was fun to see so many offices engaged in the topic by writing headlines and sharing them with others in the course. In fact, we found it so beneficial we decided to cover this topic again at the Fall Summit earlier this month. The section on Design Sins was only a short part of the presentation, but one of the most easy and important to incorporate without … [Read more...] about Are You Guilty of One of These 5 Marketing Design Sins?
The Academy recently announced a new coaching model for members consisting of 11 Training Courses. Each course has a series of classes, and the subjects focus on major practice building systems and marketing strategies. They range from Strategic Planning to Marketing Planning to Staffing to Public Seminar Marketing, and more. This platform expands on the coaching from the Practice Building Consultants by providing more opportunities for each member firm and their team to participate in a … [Read more...] about A New Opportunity for Academy Members to Systematize and Grow Their Practice
The Academy is all about systems that allow firms to be productive and efficient and therefore, profitable. One of the ways to ensure that law firm revenue goals are achieved is to incentivize staff so they also share in the firm’s continued growth and success. In fact, over the years, many Member firms have tied bonuses to performance or to a daily number revenue goal. There isn’t a “one-size-fits-all” approach for a bonus plan; every law firm is unique and the right bonus plan will focus on … [Read more...] about Employee Bonus Plans – Options for Incentivizing a Team
Success is all about planning --- it includes having a vision for where you want your law firm to be in the future and then creating a plan that makes that vision a reality. Around August of each year we start conversations with member law firms about planning for the coming year. The following includes a few of my notes from our November Practice Building Call for members where we reviewed how to set revenue goals and calculate a marketing budget. The recording of the call will be posted on the … [Read more...] about 5 Essential Steps to Reaching Your Revenue Goals
It was truly a transformational first day for Academy Members attending the Medicaid Training Workshop yesterday, presented by David J. Zumpano, JD, CPA, founder of Medicaid Practice Systems (MPS, LLC). This information-packed program provides an in-depth review of the federal Medicaid rules and principles and how they can be applied in local communities to provide some true asset protection for clients who are interested in preserving their estate from long-term care and nursing home … [Read more...] about Transformational Medicaid Training Workshop in Chicago for Academy Members
Is your staff saying they are too busy, have too much on their plate, can’t possibly handle another responsibility? Well, before you rush to hire a new staff person, you may want to look at your current employees’ productivity and its impact on your revenue. One benchmark we analyze on financial review calls and strategic planning calls with Members is revenue per person on the payroll. We look for a minimum of $130,000 per person annually – this includes everyone from the receptionist to the … [Read more...] about How Productive is Your Staff? Is it Time to Hire or Time to Fire?