| By: Wendy Witt Today, I’m going to share with you 5 more of the HUGE mistakes lawyers make when trying to build a million-dollar law firm. Mistake Number 1: Only I Can Do It I know, I know. You’re too busy to delegate. You worry about mistakes and liability. What you do is complicated. You don’t have the money to hire. You know if you do it yourself, it will be done right. This is what I’ve heard from lawyers – over-and-over again – and, today, I call quadruple bullsh*t. You ain’t that special. (Thank goodness!) If you’re thinking any of these things, you’re strangling your firm, your finances, your future, and your family. This failure to delegate is a mindset roadblock. Nothing else. Until you change your mindset, you’ll be trapped in the too busy, low pipeline, overwhelm of doing it all yourself. Doing it all yourself is not necessary and it’s not heroic. Mistake # 2: That’s Too Expensive When you look at opportunities such as memberships, staff or outsourcing, software, and business strategy coaching as an expense, you’re killing yourself and your law firm. You’re stagnant and you’ll never be more than you are now. You’ll remain frustrated, angry, overwhelmed, and jealous of those who have made these investments and are prospering as a result. Mistake # 3: Staying Comfy Building a Million-Dollar Law Firm is not an intellectual exercise. It’s an “activity” exercise. Action is required, even if it’s not perfect. Get out from behind your desk and do those tasks that bring in cash such as building relationships with centers of influence, asking for referrals, inviting clients to come in for additional services, meeting with new potential referral sources, holding a summit or educational panel, or presenting. Get out of your comfort zone and make it happen. Take action! Mistake # 4: Guessing Would you drive your car blindfolded? Would you want your doctor guiding you in medical decisions without knowing your test results or referring to your file? If you don’t know your law firm numbers, that’s exactly what you’re doing. The only way to make strong business decisions and STOP GUESSING is to track your KPIs and SKUs and make decisions based on their analysis. Stop setting your fee structure in a vacuum, stop guessing at who to hire next, stop making guesses at where to invest or what needs to be improved. Know your numbers. Learn how to analyze those numbers. Act like a real CEO. Mistake # 5: Going it Alone You’re very smart. You are an awesome lawyer. You’re good at practicing law. But, what are you not? You’re not a Law Firm Business Strategist and you’ve never built a million-dollar law firm. You’re an expert in your area of practice, but you aren’t an expert in building Million-Dollar Law Firms and you can’t coach yourself. No one can coach themselves. Even I have my own coach. You don’t know the best next step and you can’t hold yourself accountable. Neither can your spouse, partner, employee, or friend. You need a no-judgment zone with an experienced guide to get you from where you are to a Million-Dollar Law Firm that Gives You the Life You Love. Knowing these 5 common mistakes and how to avoid them will surely change the way you look at building Your Million-Dollar Law Firm but it’s not enough. Not only do you have to know what NOT to do, but you also have to make some positive changes to get to that place. After all, if building a MILLION-DOLLAR LAW FIRM that GIVES YOU THE LIFE YOU LOVE were that easy everyone would have a Million-Dollar Law Firm and the life they love.To Your Success!About the AuthorServing as a Law Firm Business Strategist and Attorney Success Coach, Wendy Witt, JD is the founder of Million Dollar Attorney® which offers consulting, mentoring, coaching, VIP Days, retreats, and training for attorneys who want to build a million-dollar law firm that ser.ves and supports the life they LOVE. She can be reached at wendy@milliondollarattorney.com or her website milliondollarattorney.com/. |
Attorneys – Check it Out!!
LET STEVEN HEISLER, “THE INJURY LAWYER”, AND THE LAW OFFICES OF STEVEN H. HEISLER BE YOUR GO TO INJURY ATTORNEYS IN THE STATE OF MARYLAND.
If you have a client who has been in an accident, job injury, or any other type of injury in Maryland, don’t hesitate to call or email Steve personally to discuss.
Steve has received referrals from numerous attorneys throughout the United States and will gladly provide references.
410-625-4878 (HURT)
877-228-4878 (HURT)
Cell- 443-854-2471
Quick Tip!!
By: Steven H. Heisler, Esq.
Are you keeping track of where your leads are coming from?
Are your intake personnel digging deep to get the specifics on how a lead was originated?
For instance, my firm has a presence on Google for certain keywords. When my intake coordinator asks a prospective client how they found us, most callers say “Google”.
However, my intake coordinator knows to dig deeper and ask for the exact words the prospect typed in to Google (such as Baltimore Personal Injury Lawyer, Baltimore Automobile Accident Attorney, etc.) . Without that, how am I to know which keywords are working well for us and which are not?
When I have accurate information on where my cases are coming from I know how to allocate my marketing resources in a better way.
About the Author
Steven H. Heisler, Esq. is the proud Founder and CEO of PlaintiffAttorneyMarketing.com, the world’s leading marketing newsletter and website for Plaintiff Attorneys. Steve is also a practicing Plaintiffs’ attorney and is the founder and senior attorney of the Law Offices of Steven H. Heisler; located in Baltimore, Maryland. You can reach him stsheisler@injurylawyermd.com.
That’s it for this week. I’ll have a brand new issue for you this time next week. Also, if you have any questions or comments about the content in this newsletter please email me at sheisler@injurylawyermd.com
~SHH
