what's holding you back avvo-webinar-by- joan- bullock

What’s Holding You Back?Preparing for the Growth of Your

Practice

Joan R. M. BullockAssociate Dean for Teaching and Faculty DevelopmentProfessor of LawFlorida A&M University College of LawOrlando, FLTHE REFORMED LAW PROFSM joan@thesageevolution.com

Legal Profession in Turmoil

Decline in requests for legal services

Decline in work from current clients

Decline in amount of collections

Result?

Reduced Cash Flow

NO Cash = DEATH to your business

LOW Cash= Slow death

Challenges

The world is divided into lawyers and nonlawyers.

We lawyers control access to legal knowledge and the tools of the trade.

We don’t compete for clients; we obtain them with our pedigree and through word-of-mouth

Our work is time honored and valuable. Any focus on efficiency or price reduction detracts from the value of the services we provide.

Reality

Lawyers DO NOT have a monopoly on the provision of legal services

Legal knowledge no longer only within the domain of the legal professional

Legal tools accessible to the public

Clients are less willing to pay the high fees lawyers charge

Business Mindset

Lawyer as a Business Owner

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Me?

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What is the Business Mindset?

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Work “on” not “in”

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Strategic Business Owner

Ideal Client

People who are forward looking and have a goal in mind;

People who have the financial, mental, and emotional wherewithal to execute their plan, accomplish their goals, and fulfill their vision.

Michelle Donovan, The Referability Expert and co-author of THE 29% SOLUTION: 52 WEEKLY NETWORKING SUCCESS STRATEGIES. http://www.thereferabilityexpert.blogspot.com/

What is Your Ideal Client Looking For?

Client’s Question

Answer

YOU have the solution to their problem

Research Prospective Client

They are looking for _____”X”_______, so that they can have/do/make….

Means can be fungible; solutions are unique

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Finding Your Ideal Client

Where to Find Ideal Client

Places of Worship

Country Clubs

Civic organizations and events

Industry-specific associations

Who Can Help You Find Your Ideal Client?

Financial planners

CPAs

Attorneys – business and transactional

Bankers

Medical doctors

Vendors to businesses

Mindset Recap

TechnicianFocus on what you alone provide

Estate plan

Wills

Tax returns

Tax planning

Focus on pedigree, certification

Business OwnerFocus on client’s wants/needs

Be the go-to person

Put yourself in position to discern opportunities for business development

Planning for Growth

Organization Systems Management

BenchmarksProductivity

Profitability

Cash Flow

Your Network System

Personal network

Referral networkPeople who need your services

People who know of others who need your services

People who can assist you and complement your services

Tactical network

Personal Network

Questions?

THE REFORMED LAW PROF

joan@thesageevolution.com

Joan R. M. Bullock