Law firm business plan

There are many excuses for not having a law firm marketing plan, but I have yet to hear one that I would buy into. You don’t have the time to put into planning the future of your firm? You don’t know how to write one? You will get around to it “some day” but that day never comes? Is this what you are telling yourself?Here’s what a law firm’s lack of a marketing plan tells me:You only plan to practice for a year or two. Having a law firm marketing plan increases your chances of survival over the long haul. A solid, well-planned guide keeps you from making serious mistakes that can quickly sink your business.You like to fly by the seat of your pants. Creating a solid business plan provides structure and a context for everyday activities, while helping to fit daily activities into the context of a larger, more strategic plan of how you are going to grow your business.You like to bury your head in the sand. Staying on track amidst the … [Read more...] about What’s Your Excuse for Not Having a Law Firm Marketing Plan?

We have probably helped more attorneys break the seven-figure barrier in revenues than anyone else. We're not telling you this to brag, but to share with you the keys to breaking the seven-figure barrier based on my experiences. Key #3: Identify your ideal target market.Your ideal target market (ITM) is the person or company who is most likely to retain you initially, repeatedly and at the highest profit margin. No matter what area of practice you are in, you can use these eight questions to help you determine your ideal client. I recommend you answer these questions with as much specificity as you can:What does your perfect client look like? (Think in terms of age, profession, gender, education, interests, work, marital status, family size, hobbies and lifestyle.)Who can afford your fees? How much can they afford? What’s your value to them?Who could be a good long-term, repeat client for your firm?What qualities, characteristics and values do they have?What are you helping them … [Read more...] about Law Firm Business Strategies: 4 Keys to Breaking the 7-Figure Barrier (Part 3 of 4)

Are you still wondering why a law firm marketing plan is a necessity? I can think of 8 good reasons:A marketing plan increases your chances of survival over the long haul. A solid, well-planned guide keeps you from making serious mistakes that can quickly sink your business.A marketing plan provides structure. Creating a solid business plan provides structure and a context for everyday activities, while helping to fit daily activities into the context of a larger, more strategic plan of how you are going to grow your business.A marketing plan keeps you on track. Staying on track amidst the day-to-day distractions and assessing opportunities to see if they fit with your long-term goals is another way that a comprehensive marketing plan can help you stay on track.A marketing plan helps you tally the cost of creating before you start building.  By knowing your financial costs and risks ahead of time, you can more effectively plot your growth strategy and … [Read more...] about How to Develop Your Law Firm Marketing Plan

As you review the systems your law firm must have to be successful, pay particular attention to your law firm marketing plan and the systems that support it. A well-designed plan is practically useless if you do not have strong systems to support the legal marketing strategies in your plan.Here are some tips on how you can develop systems that will make your law firm marketing plan more effective:Create a written 12-month marketing plan for the law firm.  Put down in writing all of the goals and steps necessary to achieve those goals.Develop processes and procedures to capture major marketing metrics and data.  You have to know the “lay of the land” if you are to be effective.Identify major lead sources and create tracking mechanisms to measure results.  Know where your referrals and leads come from and chart the volume of those leads and referrals.Develop reports for tracking the effectiveness of your law firm marketing efforts.  You have … [Read more...] about 9 Tips to Ensure the Success of Your Law Firm Marketing Plan

A marketing plan increases your chances of survival over the long haul. A solid, well-planned guide keeps you from making serious mistakes that can quickly sink your business.A marketing plan provides structure. Creating a solid business plan provides structure and a context for everyday activities, while helping to fit daily activities into the context of a larger, more strategic plan of how you are going to grow your business. A marketing plan keeps you on track. Staying on track amidst the day-to-day distractions and assessing opportunities to see if they fit with your long-term goals is another way that a comprehensive marketing plan can help you stay on track.A marketing plan helps you tally the cost of creating before you start building.  By knowing your financial costs and risks ahead of time, you can more effectively plot your growth strategy and manage your budget. A marketing plan helps you think outside the box.  Emulating someone … [Read more...] about 8 Reasons Your Practice Needs a Law Firm Marketing Plan