Law Firm Management

Ep 140 – Data Driven Decisions in the COVID Legal Marketplace

Today on the show we’re talking about data driven decisions in the COVID 19 legal marketplace, first with LexisNexis Director of Strategy for Solos & Smalls, Parker Bedsole!

 

 

 

 

 

 

 

5 Steps to a Data-Driven Legal Practice

Today’s Hot Take is from LegalExecutiveInstitute.com,“5 Steps to a Data-Driven Legal Practice” by
David Curle. He writes:

“Lawyers, like other professionals, work with a staggering amount of data. Much of that data, however, is not currently exploited to help support legal professionals’ legal decisions, client advice, or business strategies such as pricing. “

The 5 steps are:

  • Walk before you run and start with the low-hanging fruit
  • Identify and organize your data
  • Clean up your data
  • Collaborate with those who know data well
  • Build a data-driven culture in your organization

The first step in making data-based decisions is to identify a problem, so while all this is good, be sure you are collecting and analyzing data for a purpose – such as practice area pivots or personnel decisions.

“There Are Opportunities Out There And Resources Available”

Parker Bedsole is the Director of Strategy for LexisNexis’s small and specialized law firm business segment. Parker is an economist by training with a background in management consulting, and has worked with McKinsey+, Deloitte, is a startup founder and rabid Georgia Bulldog, but he’s putting it all on pause for a few to join us here today.

Learn more about Parker Bedsole HERE

Visit LexisNexis HERE

Get More Information About Small Law Firm Practice Area Trends, Data Based Decisions, And The Future Of Small Firm Management

Be sure to listen to the entire podcast episode for information and conversation about issues small law firm owners face, successful practice management, key business metrics for growth in the law firm and more. If you want more LAWsome subscribe to the show on your favorite podcast platform, and for the latest in legal marketing insights and information be sure to subscribe to the Consultwebs Newsletter here –>SUBSCRIBE<—

 

Ep 139 – Fireproof Marketing Advice for Law Firms

We’re talking about branding, marketing, and advertising for lawyers with an article from Consultwebs, and then we interview master legal marketer, attorney and author of “Fireproof: A Five-Step Model to Take Your Law Firm from Unpredictable to Wildly Profitable,” Mike Morse.

 

 

 

 

 

 

 

Effective Law Firm Advertising Needs To Do Three Things

Today’s Hot Take is from Consultwebs.com,“Will Marketing and Advertising Cheapen My Law Firm?” by Jacob Sanders: “It’s a question that mostly goes unasked, but not unrecognized, by lawyers and law firms entering into marketing or advertising partnerships.

EFFECTIVE LAW FIRM ADVERTISING NEEDS TO DO THREE THINGS.
1 – Get Noticed

2 – Build Memorability

3 – Drive Action/Outcome

Take the hammers, eagles, and pirates or leave them, the main point stands: Consistent advertising and branded marketing does not cheapen a law firm. It enriches and expands a firm’s book of business.

These lawyers are confident in these branded choices and have committed their advertising strategies to be inclusive of memorable concepts at every marketable opportunity.”

“Data Is A Smoke Detector”

Mike Morse is the founder of Mike Morse Law Firm, the largest personal injury law firm in Michigan. Since its foundation in 1995, Mike Morse Law Firm has grown to 150 employees, served 25,000 clients, and collected more than $1 billion. A household name in Michigan, and Author of “Fireproof: A Five-Step Model to Take Your Law Firm from Unpredictable to Wildly Profitable.”

Get “Fireproof: A Five Ste Model To Take Your Law Firm From Unpredictable to Wildly Profitable” HERE

Learn more about Mike Morse HERE

You should check out his YouTube Channel and his PODCAST too.

Get More Information About Authenticity, Legal Marketing, and Growing Your Law Firm

Be sure to listen to the entire podcast episode for more information and conversation about online marketing, connecting with your audience, growing your law firm and more.  If you want more LAWsome subscribe to the show on your favorite podcast platform, and for the latest in legal marketing insights and information be sure to subscribe to the Consultwebs Newsletter here –>SUBSCRIBE<—

 

 

 

 

 

© 2020 Consultwebs

 

 

 

 

 

Ep 138 – Law Firm Management Mastery

We’re talking about leadership and management in law firms, first with an article from AboveTheLaw and then we talk to entrepreneur and coach, Kris Plachy, about how to improve your management systems, set expectations and goals with your law firm staff.

 

 

 

 

 

 

 

Why Exactly Do These Firms Stick With A Managing Partner Model?

Today’s Hot Take comes to us from the mighty AboveTheLaw,“Lawyers Aren’t Necessarily Good Managers… So Why Do We Let Them Manage Firms?” by Joe Patrice. He writes:

“It’s simply bonkers for an efficiency-minded company to have a CEO with a divided attention, and yet that’s what most elite law firms do every day. But worse than dividing loyalties is the risk of the infamous Peter Principle, that everyone is promoted to the level of their own incompetence. The world’s greatest rainmaker doesn’t necessarily make the best at balancing office supply budgets, and yet firms assign the latter tasks on the basis of skill at the former.”

We hear words like “manager” and “leader” all the time, and there have been many articles and books on the differences between them, how to be better at them, etc. We’ve said it ourselves, it’s difficult to run the shop and work in the shop at the same time, but here we are again.

You don’t have to be everything. It might be your name on the letterhead, but that doesn’t mean it’s in your best interest to to have a hand in the daily operation of  your firm – which is what you have to do to be a manager. You are the owner and the leader and there’s nothing wrong at all with delegating, but in order to do so you have to give up some control, which is where most business owners struggle.

“You Have To Go Through The Ring of Fire of Management”

Through her over twenty-five years of leading and managing and now over eight years leading her own business, Kris Plachy has culminated her work into management practices applied by leaders all over the world. Together with her team, Kris combines business acumen, exceptional coaching skill, and sound, relevant and immediately applicable practices that literally change how much women both lead and love their businesses.

Learn more about Kris Plachy HERE

Get More Information About Marketing, Management and Leadership for Law Firms

Be sure to listen to the entire podcast episode for information and conversation about law firm management, law firm leadership and how to create a culture of success in your firm.  If you want more LAWsome subscribe to the show on your favorite podcast platform, and for the latest in legal marketing insights and information be sure to subscribe to the Consultwebs Newsletter here –>SUBSCRIBE<—

Ep 136 – Six Steps to a Million Dollar Law Firm

On the show today we’re talking about visualization, success and million dollar mindsets, with lawyer/entrepreneur Wendy Witt, as we explore her “Six Steps to a Million Dollar Law Firm”

NEWS – https://lawsome.info/3fdDKxU
GUEST – http://bit.ly/WendyWittLAWsome

Ep 135 – Taking your Law Firm from Panic to Profit

We talk about law firm development, management, and money metrics with Brooke Lively from Cathedral Capital.

 

 

 

 

 

 

 

Top 5 Reasons Why Lawyers Lose Money

Today’s Hot Take is from Americanbar.org,“Top 5 reasons Why Lawyers Lose Money,” by Gary Allen and Lynda Artesani. The reasons are:

“1 – Timekeeping

2 – Invoicing

3 – Retainers

4 – Choosing the wrong client

5 – Not hiring pros”

This article is coming at it from an accounting/book-keeping perspective, but the list could actually be applied more generally. We hear time and again how lawyers don’t have things a certain way or it’s different for law firms, but the reality is there are many parallels to other service-based businesses, and for some reason it’s not acknowledged.

The administrative side of running a business may not be the most exciting part of having your own law firm. In may cases it’s seen as a distraction from the real work of practicing law – and this is where the trouble starts. If you can’t get these business fundamentals down, get some kind of processes established, then you will get swallowed up by the bill paying and book-keeping. This is the business management equivalent of not seeing the forest because of the trees – except this is not seeing the money drifting away because you’re too busy going from task to task and putting out fires.

In poker, if you have a behavior or barrier that causes you to misplay hands, it’s called a “leak,” because you will leak money until you get it fixed. Same thing with this list – fix these leaks in your firm’s processes and you can take back the time and money you’ve earned.

“Everyone has a different definition of profit”

Brooke Lively is the President and Founder of Cathedral Capital, which specializes in helping entrepreneurs turn their companies into profitable businesses. Prior to consulting, Brooke was the full-charge administrator for a seven-figure small law firm which she helped to build from the ground up. Her 6 Key Numbers book series which includes, 6 Key Numbers Every Entrepreneur Should Know and 6 Key Numbers Every Psychologist Should Know is soon to be followed by an edition for Attorneys.

Learn more about Brooke Lively and Cathedral Capital HERE

Get More Information About Being Better in Business, Finances and Entrepreneurship

Be sure to listen to the entire podcast episode for information and conversation about issues business owners face, successful financial management, key business metrics for growth in the law firm and more. If you want more LAWsome subscribe to the show on your favorite podcast platform, and for the latest in legal marketing insights and information be sure to subscribe to the Consultwebs Newsletter here –>SUBSCRIBE<—

 

Ep 134 – Leadership & Empowerment in the Law Firm

We’re talking about leadership, ownership and empowerment, with entrepreneur, leadership development expert, Keynote Speaker, & Best-Selling Author, Peter Montoya.

 

 

 

 

 

 

 

Inspire Your Team To Take Ownership

Today’s Hot Take is from the greatest site on the internet Inc.com,“6 Disciplines of Leadership That Inspires Ownership,” by Gene Hammett. He writes:

“Ownership is the feeling of owning the results. When employees feel ownership for what they are doing, they go beyond just taking responsibility. They bring innovation to the job. They don’t turn off their brains at 5 o’clock. With big growth goals, how do you motivate employees to take OWNERSHIP of those goals?

Leaders told me to spark that sense of ownership, they tried the following six practices.
1. They create a one-of-a-kind brand
2. They include people from all levels when crafting vision
3. They embrace radical transparency
4. They empower others to take risks
5. They understand employees’ personal goals
6. They allow employees to be brand ambassadors”

These are all good starting points in our opinion, but there is one missing item on the list. If you truly want employee buy-in, innovation, growth mindset and all those other aspirational terms, item number 7 on the list would be “compensation.” That is literal “buy-in” and without it you will be hard pressed to have anyone share the same dedication to goals as ownership. Look at it this way – if the company fails, they find other jobs, but you are out of business, so if you really want employees to take ownership, put your money where your mouth is.

“Power is the ability to achieve intended results.”

There are gifted speakers, there are best-selling authors, and there are successful entrepreneurs… but rarely do you find all three in one person. Peter Montoya is that rare exception – a thought leader, skilled orator, powerful coach, and seasoned entrepreneur, Peter has traveled the globe, educating thousands and revolutionizing how organizations develop high-performance teams, and now he brings the heat to the LAWsome Podcast.

Learn more about Peter Montoya HERE

Get More Information About Leadership, Culture and Law Firm Management

Be sure to listen to the entire podcast episode for information and conversation about the power of  leadership, positive management techniques, culture and how to build your law practice. If you want more LAWsome subscribe to the show on your favorite podcast platform, and for the latest in legal marketing insights and information be sure to subscribe to the Consultwebs Newsletter here –>SUBSCRIBE<—

Ep 132 – The Mindful Money Episode

We’re talking about being better at business, finances, and life, just by being in the moment, with the ever-present, Jonathan DeYoe of Mindful.Money.

 

 

 

 

 

 

 

Can Mindfulness Help You Run Your Business?

Today’s Hot Take is from Forbes.com, “Can Mindfulness Help You Run Your Business?” by Stephanie Burns. She writes:

“Mindfulness has been thought to help in a number of ways, but the most significant include reducing anxiety, heightening productivity, and contributing to a greater sense of presence. Because these benefits are preferred for employees, they’re also great for entrepreneurs, and can likely help you better run your business.”
Here are a few ways that neurocoaching and mindfulness can take your business to the next level:
1. It can improve your self-confidence, helping you with decision making.
2. It can help you be more creative.
3. It can heighten productivity.”

Mindfulness and awareness are approaches we are big fans of, and the idea of using it with regards to business, while not necessarily new, are worth looking into for the myriad of benefits they can provide.

“Stop Predicting The Short Term.”

Jonathan DeYoe is a best-selling author, behavioral wealth advisor, speaker, founder and CEO of MindfulMoney. He’s been helping his financial planning clients build futures, and create legacies for almost 20 years! He started on The Street, worked his way up to the top, and now he breaks through the cloudbank to join us on LAWsome.

Learn more about Jonathan DeYoe HERE

Get the book “Mindful Money: Simple Practices for Reaching Your Financial Goals and Increasing Your Happiness Dividend ” on AMAZON HERE

Get More Information About Being Better in Business, Finances and Life By Being In the Moment

Be sure to listen to the entire podcast episode for information and conversation about issues business owners face, successful financial management, mindfulness and awareness in the law firm and more. If you want more LAWsome subscribe to the show on your favorite podcast platform, and for the latest in legal marketing insights and information be sure to subscribe to the Consultwebs Newsletter here –>SUBSCRIBE<—

Ep 131 – Billing Models & Legal Tech

We’re talking flat fees, subscription services, and the hourly rate, and we talk to lawyer & synth legend, Jonathan Tobin, of Counsel for Creators, about his reasons for different billing options, technology in the law firm, customer service and more!

 

 

 

 

 

 

 

Flat Fee or Hourly? Pros and Cons of Billing Options

Today’s Hot Take is from AttorneyAtWork.com,”Flat Fee or Hourly? Pros and Cons of Billing Options,”
by Ruth Carter. She writes:

“I’ve been practicing law for nearly seven years, both as a solo and with a firm. During this time, I’ve tried different billing arrangements with varying degrees of success and learned plenty of lessons (often about what not to do). Here is my take on the pros and cons of various billing options I’ve used.”

She goes on to detail her experiences with the various options and gives her honest assessments of each method/system. While specifics are good, we think there is a larger idea that needs to be addressed, and it’s that what gets measured, gets managed. Regardless of the calls to innovation and the calls to better lawyering and the cries for more marketing, and on and on, what guides behavior and choices is money, and the energy and mindset is FIXED on hitting the metric.

But how you get to that metric – how you get the true value for your work and ensure you are still providing exceptional service to your clients without being blinded by the billable hour or a profit margin goal or whatever your magic number is – that’s the trick.Or as Ruth puts it:

“There’s no one way to bill for your time. My suggestion is to respect the value you bring to clients and clearly state the requirements and expectations for payment in your engagement agreement.”

Making Law User Friendly By Changing the Experience of Hiring and Working With a Lawyer

Jonathan Tobin is an author, technologist, and lawyer whose goal is to redesign the law firm experience from the ground up while helping his clients grow successful businesses. He’s a force on Twitter, he’s a force on the page, and now he brings his force in alignment with the LAWsome podcast!

Learn more about Jon Tobin and Counsel for Creators HERE

Get More Information About Innovation, Billing Models, Creativity and Tech for Law Firms

Be sure to listen to the entire podcast episode for information and conversation about different billing options, technology in the law firm, customer service and more!  If you want more LAWsome subscribe to the show on your favorite podcast platform, and for the latest in legal marketing insights and information be sure to subscribe to the Consultwebs Newsletter here –>SUBSCRIBE<—

Ep 128 – Purpose, Pivots, and Legal Marketing

We’re talking about making the change to remote operations, adjusting advertising and social media strategies, and how to be a good leader in times of transition, with lawyer/marketer/good guy, Alan Cleveland.

 

 

 

 

 

 

 

Real-life Examples of Law Firms Focusing Their Marketing During COVID-19

Today’s Hot Take is from Consultwebs.com,“How Law Firms Are Marketing During COVID,” by Jacob Sanders. He writes:

“As the story of COVID continues to unfold, and certainties and social behaviors fluctuate, law firm marketers are faced with many challenges, one of which is striking the right tone with their marketing, advertising, messaging and PR.

There are, in fact, several ways law firms can market their practices in ways that positively impact the community and serve as a reminder of the firm in a tumultuous time.

In this article, we feature real-life examples of law firms focusing their legal marketing during COVID on three themes, all related to Community; In The Real World, Online Connections, and Content Marketing.”

It’s a great article with in-depth details and examples, and we would say it serves as an excellent guide not only for current situations but how to think and act with your marketing beyond simply buying a billboard or throwing a coupe  more bucks at Youtube.

“If You Don’t Take Care of  Your Talent, Someone Else Will”

Alan Cleveland is a founding partner at Adamson Cleveland, a Georgia personal injury law firm. He got his JD from the John Marshall Law School, He’s worked in-house, in sports marketing, and now he’s in our house, talking about law firm management and legal marketing.

““I like helping people get what they think is fair compensation and help them get their lives back together,” he says. “They suffer injuries, their lives turn into chaos, they don’t have anywhere to turn, and they need a champion who can guide them through a difficult situation. These cases need special care and attention, and that’s what we do. With myself and Kevin, you get good guys who are great lawyers with a personal touch.”

Learn more about Alan Cleveland HERE

Get More Information About Marketing, Leadership and Navigating Uncharted Waters

Be sure to listen to the entire podcast episode for information and conversation about  making the change to remote operations, adjusting advertising and social media strategies and how to be a good leader in times of transition. If you want more LAWsome subscribe to the show on your favorite podcast platform, and for the latest in legal marketing insights and information be sure to subscribe to the Consultwebs Newsletter here –>SUBSCRIBE<—

Ep 124 – Document Security in the Law Firm

We’re talking about document security, remote lawyers, COVID, and keeping the virtual doors of your law firm fastened with tech, with Jordan Ellington.

 

 

 

 

 

 

 

 

NEWS – https://lawsome.info/2xKobxk
GUEST – https://lawsome.info/SecureReview