Business Development

EP 100 – Michael E. Gerber – Deciphering a Law Firm Owners Best Use of Time for Firm Growth

Michael Gerber is the Author of E-Myth Books all about small business entrepreneurship, leadership, and management. He is also recognized as Inc. Magazine’s “#1 Small Business Guru”. If you are interested in learning more about Michael or in purchasing one of his books, visit his website at https://www.michaelegerbercompanies.com/theemythlibrary/

On This Episode, We Discuss …

• What It Means to Do the E-Myth Work
• Discussing the Process of The Eight-Fold Path
• Business as the Most Important Product
• Having Interest in Selling Your Practice

Michael has recently started his tour talking about transformation for businesses and law firms around the United States. He is currently offering to speak to an audience or small business Monday – Friday during a 90-minute time slot from 9AM – 5PM PST. He will conduct a 60 minute online event with a 30 minute Q+A session to follow for $5,000. Michael is very passionate about investing in today’s small business climate. If you are interested in booking this event with Michael, please visit michaelegerberspeaking.com or email gerber@michaelegerber.com for more information.

EP 99 – John Warrillow – How to Build Your Law Firm to Have the Ability to Sell

John Warrillow is the Author of Built to Sell, The Automatic Customer, and The Art of Selling Your Business recently released in January 2021. John also has a podcast “Built to Sell” that you can find on builttosell.com with new episodes releasing every week.

On This Episode, We Discuss …

  • First Steps to Take in Separating Yourself from Your Business
  • Tactics that Work Well in Retaining Employees
  • Importance of Documenting Processes
  • Strategies John is Excited About from The Art of Selling Your Business
  • Empowering Employees to Think Like Owners (Yes-able Solution)

EP 97 – Jason Rosoff – Creating a Culture of Radical Candor Within Your Firm

Jason Rosoff is the Co-Founder and CEO of Radical Candor. Radical Candor is a framework for thinking about how to build stronger relationships with the people that you work with and collaborate to achieve amazing results. If you are interested in learning more about Radical Candor, visit their website at https://www.radicalcandor.com.

On This Episode, We Discuss …

• Identifying the Quadrant of the Radical Candor Framework You Are In
• Guidelines to Help Yourself Check Yourself
• Efficient Use of Time to Maximize Relationships
• What Does Radical Candor Lead To?
• How to Get Started Yourself

EP 96 – Charley Mann – Evaluating Where Your Law Firm Should Be

Charley Mann is the President and Lead Coach of Great Legal Marketing. Charley has been working in the legal industry for over 10 years now. To learn more about the Mastermind Groups that Charley is involved in, visit www.greatlegalmarketing.com and search for the ‘Hero’ and ‘Icon’ programs and schedule a strategy session.

On This Episode, We Discuss …

• Financial Numbers That Are Not Often Discussed
• One Thing Does Not Solve All the Problems
• Transitioning from a Work Family to a Business
• What Is an Average Profit Margin and How to Sell a Firm
• Looking for Effective Mastermind Groups

EP 95 – Stacey Brown Randall – Growing Your Business Through Referrals Without Having to Ask for Them

Stacey Brown Randall is an Expert Consultant and Author of Generating Referrals Without Asking. Stacey had an HR Consulting Firm and made it just over 4 years and the best thing that she learned through failing was how to do it better. Her first year as a business coach, her business grew and she received 112 referrals, all while doing it in a way that she wanted. The easiest place to start is by taking the referral quiz. To read Stacey’s book, click here and to check out her podcast, search “Roadmap to Grow Your Business” on your podcast streaming platform.

On This Episode, We Discuss …

  • First Steps to Take in Getting Referrals
  • Identifying Who Your Connectors Are 
  • Building Customized Plans for Each Person
  • Conversations to Have During the Process
  • Allowing the Referral Source to Be the Hero

EP 94 – Denny Newberry – How to Build Your Outbound Referral Network

Denny Newberry is the Co-Founder of Captorra and Intake Conversion Experts (ICE). He has been working in the legal industry for over 10 years now. If you are interested in reaching out to Denny, you can email him at info@captorra.com or visit their website at www.captorra.com to learn more.

On This Episode, We Discuss …

• Where to Start with Outbound Referrals
• Live Connection During the Intake Process
• Steps Firms Can Take to Capture & Follow Up with Leads
• Day-to-Day Tools to Help with Organization and Productivity
• What to Expect from Engaging with Technology

EP 89 – Nicole Clark – Utilizing Data Analytics to Make Credible Decisions for Your Firm

Nicole Clark is the Founder and CEO of Trellis Research Inc. Nicole is a Litigator and practiced a lot at the state court level doing employment and class action work. She couldn’t believe how difficult it was to get information at the state court level. Often, Nicole was an associate tasked with anecdotes and making strategic decisions – it blew her away that they were making strategic recommendations based on anecdata when there is a ton of data on the judges. She talked about the gap-in-data with some software developer friends to start mining data from the courts she appeared in most often. It was a game-changer in her practice and was so valuable to her. It gave her the courage to jump from practicing to bring Trellis to other litigators because having that data was a huge competitive advantage as a state court practitioner.

Check out Trellis at www.tellis.law or reach out to Nicole directly at nicole@trellis.law or find her on Twitter at @nicole_a_clark.

On This Episode, We Discuss …

• Most Common Ways People Use Technology When They are Not Necessarily Tech-Savvy
• Other Sources and Variables of Data that are Consequential in Making Decisions
• Giving Insight to Attorneys to Understand Some of the Judges’ Niche Things
• Where is the ‘Gray Area’ Line Drawn for Public Data?
• The Ethics for What Attorneys are Required to Do

EP 87 – Ryan Klein and Chase Williams – How Law Firms Will Win in 2021 PT 2

Ryan and Chase are back to discuss what your law firm needs to be doing in 2021 to be set up for success. On part 2 of this 2-part podcast episode, the topics include:

• Perfecting Your Intake and Follow-Up Process
• Having a Plan in Place for Reviews
• Optimizing Local SEO
• Finding Where You Fit in Social Media
• Staying on Top of Website Trends
• Continuing to Educate Yourself

If you missed PT 1, check out EP 85 – RYAN KLEIN AND CHASE WILLIAMS – HOW LAW FIRMS WILL WIN IN 2021 PT 1

EP 83 – Lauren Osborne – Utilizing SEO to Build Up Website Authority and Content

Lauren Osborne is the Business Development Officer at TLD Law and has been with the company for about 2 years now. TLD Law is a full-service firm that will be celebrating its 60th year in business in 2021. Lauren works with the partners individually to develop their specific practice areas – they have a few different areas that they cover. Previously, Lauren worked with a CPA Firm for about 11 years before joining TLD Law. If you are interested in getting in contact with Lauren, you can email her at losborne@tldlaw.com

Different Strategies for Approaching B2B and B2C Content

In terms of B2B and B2C practice areas, there are definitely different strategies for the consumer side versus the business side. On the consumer side, they have to be more specific to make sure that people know what they are working on. On the business side of things, you want to target the client who is looking for the specific services that you are offering. Lauren tries to get very specific with her partners in this area to write specific content and make it clear what areas of specialty are offered. 

Lauren uses SpyFu as an inexpensive way to search their website URL and see what keywords people are searching for and maybe finding your site. That is one way to cater to content development, but another thing that she does is go to Google Analytics and find out the top page that people are visiting on your website. She went into the blog post and linked to some newer material on their website and now the traffic has picked up even more.

Should Attorneys Be Writing Content on Their Website?

Lauren has found that her specialty is not in writing content, so she has found that it is helpful to get the attorneys that are writers or may be more inclined to business development activities. For those that may not be writing, she will work with a writer that will then give that attorney a call or interview him on a topic that he has selected or is interested in and they will have that article done in a day in some cases. It is a combination of attorneys writing articles and an outside writer. Outside writers bill at a much lower rate than attorneys do and they are much more reliable in getting the content out. 

If clients are asking questions, then other people have those same questions as well. In-house professionals wear a lot of hats, so she did get a lot of pushback. When they saw how easy the process was to work with a writer and how cost-effective it was, that changed the conversation. The accountability factor is key. 

Metrics to Measure Content Effectiveness

Lauren has noticed that when new content is being posted, numbers on Google Analytics sky-rocket. Obviously, it will send a lot of traffic to the website. She is just looking at how many people are landing on specific parts of the website and trying to focus on those pages and practice areas that are getting a lot of hits. If she is getting results in one specific practice area, she might go back and just focus on creating more content in that area because it is working. 

Another thing that Lauren does when she is searching for topics to write about is going to Google and begin typing in questions and it will populate the rest of the question and give you examples of questions that other people are asking. Oftentimes they will answer those questions in a blog article and you are helping people that have those questions and may not have found the answer they were looking for. One resource that Lauren uses quite a bit is Neal Patel. She watches all the videos that he sends out regularly and has found a lot of value in his information. Whenever he sends out a new tip or trick to try out, she puts it to work on their website.

EP 82 – Amy Adams – Making High-Level Decisions by Capturing and Analyzing the Data Your Firm Gets Everyday

Amy Adams is the Director of Business Development at Loeb Law Firm. She previously had an online business as an original Etsy shop founder. The past 5 years she has brought that entrepreneurial DNA to where she is at now and helps her team grow the business. She has come from a family of entrepreneurs and that is what she enjoys the most. If you are interested in reaching out to Amy, email her directly at aadams@loeb-law/com or connect with her on LinkedIn at https://www.linkedin.com/in/adams-amy/

Tools and Guides to Help You Maneuver Data

The way that it is organized is they have a firm overview and then they hone in on each of the individual clients. They are able to translate the data in between those two buckets. You want to be able to know where you are most efficient so that you can quickly triage any inefficiencies and also show your clients how you are saving time. Realization rate has been incredibly important across all of the metrics. 

It has been an evolving process. Amy has reached out to several people on LinkedIn and has gone through presentations that her partners have attended. She offers herself as a resource to anybody if they are interested in reaching out to her. Training on Excel is incredibly important and YouTube can teach you anything. You also really need to know what your client wants. You first need to start there and understand what you are measuring before you start implementing systems. If you have a certain amount of resources, it requires a team effort with your office manager, bookkeeper, as well as the attorney or attorneys. For Amy, it was a team effort in putting it all together. Everyone had the same mission in mind and the same objective. 

How Amy Got Started by Understanding Metrics

What sparked it was Amy’s partners were actively involved in the CLM and at their conference. Amy is someone that very much wants to absorb all of the information. When they came back, she went through all of the powerpoint slides to see where the industry is headed and what the presentations were discussing as far as trends. The one common thread through all of it in the insurance industry was data and understanding metrics and then moving on to predictive metrics and analytics  as well. 

You need to partition data off into different categories. For someone in B2C and marketing to a family law client or an estate planning client, you are going to want to look at the metrics of your social media performance or your website traffic. In the aspect where you are talking about corporate clients and the insurance industry, they are really narrowed on other metrics of performance. For B2B in their measurements, what they are looking at is cost per case, dollars saved per case, and budgeting accuracy. They are directly able to coordinate efficiencies with dollars, so by improving those efficiencies through billable hours, the way in which they are billing, and the way in which they are dedicating their time, you are able to translate that to dollars and dollars to revenue. 

One of the number one objectives in implementing the system is to be able to capture live data on a monthly basis and to quickly pinpoint any inefficiencies or successes and then to replicate those. Look at what your wins were and where you could improve. If you are able to do that quickly and efficiently, then ultimately, you are able to grow your business, even on a small scale. When you are voluntarily reporting performance to your client, it shows you in a different light and it shows that you are eager and willing to invest in their success as well as your own. That is the number one takeaway that they have seen with their clients in which they have issued the reports. They are able to jump over the misconception that they are just chasing clients and work, but that they are actually showing them numbers in black and white and they are invested in their growth as much as their own. 

Recommendations for Firms and Next Steps

The reason why the industry lags in data management is because we are naturally risk averse and any time spent on marketing efforts or business development is time less billed. Ultimately, your time is money. Amy’s first recommendation would be to reach out to your community members and the number one piece of advice that she would give is to not be afraid to ask. If you reach out, there are people in the community that are willing to help. Sit down and write down where you can offer that give and take. What are you willing to give up for maybe one hour a week or a few hours a week to set aside your goals and your business plan? What tools do you need to get there? In the end, you will see exponential growth if you implement it and you follow through. 

The next step that Amy and her team are looking to take is creating individual profiles for each of their clients as well. She would recommend other firms do the same, because at the end of the day, you need to understand what your clients priorities are and you need to build a custom profile for each of your clients’ needs. You need to understand what metrics matter the most to them and how it speaks to them and the way in which you are going to translate the data. 

Now is a great opportunity for a fresh start. Take a look at what your priorities are and where you want to go.