Networking for Attorneys: How to Make Money with Your Personality
Small law firms are always looking for cost effective ways to attract prospective clients. Networking is one of the best ways to establish relationships that will lead to new business for your law firm.
Attorneys who regularly attend networking events are not only improving their chances of client acquisition, they are also developing powerful reputation within their community. This reputation will further enhance the likelihood that someone will think of their law firm when the need arises.
Surprisingly, many attorneys are intimidated – or at least a little “put off” by the prospect of entering a room full of strangers and making friends. In many cases, it reminds them of the first day of school or some other less-than-enjoyable experience. In other cases, they feel as though the entire experience will be unproductive and uncomfortable.
It doesn’t need to be that way. Below are six rules for effective networking. Attorneys who follow these simple rules tend to develop new business quickly with little more than a firm handshake and a winning personality.
The Follow-Up Rule
Every meeting or encounter should be followed by three other interactions. The more frequently you interact with someone, the more they begin to trust you. If you want people to give you business, you must begin with a foundation of trust. This foundation can be developed with three brief interactions during a short period of time.
When you are introduced to someone you should always try to get their business card. After the event has ended you should immediately send them an email letting them know that it was nice it was nice meeting them. That’s the first interaction.
About a week later, you should find a reason to call them. The reason can be as simple as asking them a question or inviting them to have coffee. The key is to interact with them again, soon.
The third contact is best handled by sending them a handwritten note. Include another copy of your business card in the note – just in case.
This three step follow-up sequence is simple yet powerfully effective. If you follow this sequence with everyone you meet at a networking event you will have developed a group of people that not only knows who you are and what you do, but they will also have started to develop a trusting relationship with you.
The Vendor Rule
People who sell you things should be excellent sources of business. They all have friends and relatives who may need your services. You should immediately make a list of all of the vendors that sell to your law firm. This list should include everyone from the copier sales rep to the electrician who changes the light bulbs.
After you have made your list, begin calling them one by one. Set up informal meetings with them. Again, having coffee is the perfect way to break the ice. In these meetings, let them know about your firm’s areas of expertise. After the meeting is over, apply the follow-up rule as we described above.
If these people have any sense at all, and they like the business they receive from you, they will send you a few referrals.
For the remaining rules of networking, please click on continue reading.
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EmailAttorneys: Claim your Blog on Technorati
If you are new to blogging you need to do two things immediately. The first thing you should do is read through all the articles that we have on RainmakerLawyer on blogging. This will help you get up to speed on what to write, how often to write and how to maximize the exposure of your blog.
The next thing you should do is set up your Technorati Profile. Technorati is the ultimate search engine for blogs. Creating a profile on Technorati will help your search engine rankings and allow your content and you website to be found easily.
If you are serious about using blogging to attract clients, you need to invest the time to set up your Technorati Profile correctly.
The Basics of Law Firm Competitive Analysis
A lawyer, who wants to run a successful law firm, must realize that he is also running a business. Most attorneys don’t like to think of themselves as businesspeople, but as providers of a service. Regardless of how you choose to describe your practice, having one means being in competition with other firms. It would be great if being the best lawyer in your field was enough to bring in client after client. The fact is that having a law practice means that you are going to have to compete to keep clients coming through the doors.
If you don’t know what the competition is doing, then your law firm needs to do a competitive analysis.
Big law firms might spend thousands of dollars trying to find out what the competition is doing. This is because large law firms understand that knowing what the competition is up to is just as important as anything else they can do for their practice. Smaller firms may not have the financial resources to go out and hire a top marketing firm to perform a competitive analysis. Nevertheless, there are still ways that you can analyze the competition without spending too much of your hard earned money.
What exactly is a competitive analysis?
A competitive analysis is a series of steps that lawyers can use to determine the strengths and weaknesses of current and potential firms who might be after the same clients that you are. Lawyers are usually very good at competitive analysis because it combines their research and analytical skills. Here are the steps to doing a basic competitive analysis. If you would like get more scientific, the web offers a variety of matrices and formulas that lawyers can use to track the competition.
Figure out which firms you are competing with. Do a basic search for lawyers in your city who work in the same area of law that your law firm does. Look up other firms in legal directories. Get a list going of which firms may potentially be competitors.
Sometimes the firms you think are your competitors really are not. Make sure that you know what type of clients your firm wants to pursue. Then determine whether or not the firm that you are analyzing is after the same pool of potential clients? With new technology, many attorneys are setting up a home base in one city, while most of their clients are in another. Some attorneys who are highly specialized may also have clients from all over the country or around the world. Just because there is a firm down the street who appears to practice in the same area of law that your firm does, isn’t necessarily a sure sign that they are competition for your firm.
Get to know the competition. Once you have figured out who your competition is, it is time to get to know them. Go to their websites. What do these firms say about themselves? Try to learn the basics. How many lawyers do they have? Do they have multiple offices? Where are they located? Visit law.com to see how their firm is ranked. Search for them using key words to see if their website has a high listing on the popular search engines.
Additional questions to ask include: Who are the key attorneys in their firm? What are they doing to get recognized for their work? Do they do their own marketing or do they outsource? Is it working for them?
For more on law firm competitive analysis click continue reading.
Commonsense Time Management for Attorneys
Whenever I begin working with a new attorney or group of attorneys in a law firm one of the first things I hear is:
“I just don’t seem to have enough time to get everything done.”
Of course there is plenty of time in the day but attorneys are known for not efficiently managing the way they use that time.
Time management is a misnomer. Getting things done in an effective and efficient manner is not about managing time. It is about managing your activity.
Below are ten things you can do today to help improve the way you use the time you have. They may seem really basic but sometimes the basics are exactly what we need to focus on in order to get back on track.
Make a List
This one is super simple but not always used to maximum advantage. Most attorneys hate to use a “to-do” list at first. This is because they have a difficult time designating one client’s matter as more important than another. As a result they often leave things off the list and that is a mistake.
In creating the list you should write down everything that must be done —down to the last detail. Get it all down on paper. You will be amazed at how helpful the act of listing the items will be in getting you organized.
Simply having a list where you check off completed items will provide you with significant motivation and a good deal of personal satisfaction.
Prioritize
Obviously, a list loaded with nonessential tasks can easily be completed giving the attorney a nice feeling but still he gets little done as the list lacks real work.
Prioritize your list into four categories. These include: Urgent, Important, Significant and Secondary. You can easily do this by assigning numbers to each category. Urgent tasks get a number “1”. Important tasks get a number “2”. Significant tasks get a number “3” and Secondary tasks get a number “4”.
The most important factor in assigning numbers to these items is to realize that you are assigning these tasks to a category based upon the task themselves and not based upon your own frame of reference. Too often attorneys will look at the list and say: “That’s urgent but I just don’t have time to get to it so I’m going to mark it as Secondary”.
That’s the wrong approach. You must be objective when assigning your tasks to a category.
Delegate Duties
Many attorneys feel that if they don’t do something themselves it won’t be done properly.
They need to get over that and pass the chore on to the person or people best qualified to handle it. Almost everything can, at least in part, be delegated.
Assigning even a portion of a task to someone else will help you make progress than if the task sits unaddressed while you work on something else.
Many attorneys say that if they assign a task to someone else and it is done incorrectly it will take more time to do it over. While this may be true, if you take a long term view of your law firm, you realize that assigning things to others (sometimes more junior attorneys or paralegals) and having them learn “on the job” is one of the ways your law firm grows and becomes stronger.
Never, ever do something yourself that someone else can do for you.
Handle A Document or File Only Once
This is an old tip that makes a lot of sense.
Every item (documents, email, phone message, etc.) that crosses your desk requires time to deal with. If you don’t manage to dispose of that item or piece of work when you first handle it, you will be required to do so at a later time.
Every time you handle a piece of information and put it down – only to pick it back up again and remember what it was or what you were going to do with it – you cost yourself valuable time. Get into the habit of reading these documents and then addressing them immediately. Either handle them immediately or assign them out.
Don’t deal with them more than once.
For more attorney time management tips click continue reading.
The Importance of Finding a Niche for Your Law Firm
More and more people are becoming lawyers every day. As a matter of fact, it is one of the most common careers paths for college students today. What does this mean for your firm? It means that, going forward, competition will continue to intensify.
If you are looking for a way to make your law firm stand out from the crowd, the answer may be that you need to create a niche for your firm. Let’s face it, new law firms are springing up all the time. If you don’t want your firm to get lost in the mix, you have to do something to stand out.
There are several benefits to niche marketing.
- Firms that develop a niche work more efficiently because it easier for them to keep up with changes in the law.
- Attorneys who have a niche market are often able to charge higher fees and are often in high demand.
- Firms who have a niche also have less competition.
Decide on what area of law you would like to focus.
Developing a niche is not about choosing more of one type of case. To truly create a niche for your firm you need to have a laser like focus on one are of law. Think about what areas of law bring in the most revenue for your firm, this may be where you should establish your niche. Or think about what area of law most intrigues you. Determine if there is a decent market for a niche law firm in that area. If you think the answer is yes, then go for it.
When you decide on a niche, make sure that it is very specific. If you don’t, then you may not be making enough of a change within your firm to truly be distinctive in the marketplace.
For example, a small law firm in Chicago has created a niche in “digital trespassing” for consumers who feel that their rights have been violated by unwanted text messages and unwanted emails. While this may be a risky niche to pursue, you at least get the idea about being very specific.
First learn and then promote.
Before launching into an ad campaign to tell the world that you have a new area of focus, you first need to make sure that you are equipped to handle legal cases in your new niche. In other words, do your research. Learn as much as you can about the area that you have chosen as your specialty.
Once you have decided on a niche and your have read up on it, you will need to promote it. Think about how your marketing plan may need to change given the new direction of your firm. Let your referral sources and past clients know about your new niche. Update your website and printed materials to reflect your firm’s new direction.
For more about niche marketing and your law firm, continue reading.
A Legal Assistant: A Key Part of the Success of a Small Law Firm
Is it just me or has anyone else noticed how certain law firms operate like finely-tuned Swiss watches?
What I’m talking about is a law practice where the information necessary to carry out effective legal work is on hand for each and every attorney and paralegal; a practice with a level of operational confidence and efficiency that precedes it in the marketplace; a firm that simply ‘gets it’ and as a product of getting it, gets the results they seek more often than not.
What makes operations such as these so efficient and effective?
Is it the Managing Partner or senior attorney at the firm?
Perhaps.
But as a firm grows and prospers the main partner(s) or share holders are usually overly involved in bringing in business and strategizing the most important cases. They don’t spend a great deal of time on handling the details of the office. Peak operational efficiency often develops as a result in someone who has taken his/her place well before a finely tuned legal machine is ever noticed.
I’m talking about a good administrative assistant.
We’ve all seen the Hollywood scenario. A successful executive breezes in and out of the office while his business seems to always be at the right place at the right time. He signs the contracts and drives the fancy car. But it isn’t the boss pulling the strings and pushing the buttons. It’s usually an otherwise unassuming individual who is behind the scenes like a symphonic conductor making sure everything goes just so. Such individuals are almost always worth five times or more than the salary they earn because without them the business goes from exemplary to average.
My good friend Marvin is the senior partner in a family practice law firm and has the ideal administrative assistant running things. Her name is Claire. And she is worth her weight in gold. Let’s take a look at how Marvin began working with Claire and how he nurtured and developed her skills and abilities.
Hiring the Right Person
Most folks who have found that special person would probably say that hiring them involved more intuition than analytical skill. In other words, hiring the right ‘office maestro’ is more an art than science. Of course you’ll still be looking for the best person with the best set of relevant technical, hands-on skills. But what are the intangible assets this person is likely to have? We’re going to look at the skills and personality traits that make the most effective administrative assistants. The way they process information and approach a task is critical.
Organizational Approach
Most people are either right-brain dominant or left-brain dominant in their orientation to their environment. Someone who is predominantly right-brain oriented will easily see the big picture and be useful in planning the concept part of a project. They are good at constructing the framework and letting others fill in the particulars. Someone who is predominantly left-brain oriented will be happiest working on the particular details of a project. Of course, no one is always completely right or left-brain orientated. We all switch on and off according to the situation but most people have a preference for one over the other.
So, which orientation would be more effective as an administrative assistant for a law firm?
Many would say the detail orientated individual. But that wouldn’t be entirely accurate. The ideal administrative assistant would be a close blend with their orientation slightly toward the overall concept or big picture. Then they’d be good at delegating the fine details out to people who have proven to be efficient at individual points. Without having the knack to see the overall big picture it’s almost impossible for anyone to foresee the dozens of little items that need to happen to make a law practice shine.
For more qualities of a great administrative assistant for a small law firm, continue reading.
The Five Key Leadership Qualities of Successful Lawyers
Managing a small law firm is not just about practicing law and acquiring clients. It is about leadership. Even if you are in a solo practice, you have to think like a CEO. In a large law firm you might be able to hide and get by as a worker bee. But small law firms and solo practices have a way of highlighting an attorney’s best and worst traits.
Practicing law has always required leadership. However, many attorneys like to see themselves as public servants. This is fine, but to grow your law firm, you will have to become an effective leader.
Leadership starts with clearly defining what a leader is and is not. Attorneys have to realize that management and leadership are not the same things. Management is reactive, while leadership is proactive. Managers take what is handed to them and make sure that everything goes according to the plan that was laid out by the leader. Leaders reach out for what they want and they chart a course for success. Whether you realize it or not, the day that you decided to open a solo practice or to run a small law firm was the day that you agreed to be a CEO.
If you want to lead your firm into a bright future, then you will need to lead your law firm. Following are the five key traits of effective law firm leaders.
1). Leaders take responsibility. In law, just like in life, things will not always go as planned. Pointing the finger, however, is a waste of time and energy. Yes, you need to review what went wrong so that you make better choices next time. And yes, there may very well be someone on your team who is not doing their part. But the odds are that you hired that person. So, once again, the buck stops with you.
Part of taking responsibility is admitting when what went wrong was your fault. Don’t hide behind excuses of how busy you are or try to explain away your mistakes. Be honest with yourself and the people you work with. They will respect you more for taking responsibility than for trying to avoid it.
Accept that challenges are a part of operating any business, including a law firm. Don’t spend too much time navel gazing and pondering what went wrong. Get back on the horse and try again.
How do I Feed My Family When I First Start My Law Firm?
A reader named Ben sent in a good question that is probably on the minds of many people who are thinking about starting their own law firm.
Ben said:
“I am an associate in a firm with a great client base. I have gained valuable experience during the past few years, but I would rather be the captain of the ship and I have no interest in partnering with my current employer.
Where will I get enough money to (1) start a firm; and (2) make sure my family still has a house and food?”
Many people ask this question and many more do not start their own law firm because they worry about money during the law firm start-up process.
There are a couple of things to keep in mind when you are thinking about starting a solo law practice.
First, realize that you don’t need an overwhelming amount of capital to start up a law practice. There are no set rules for infrastructure. You simply need a computer and a quiet place to work. In the beginning, you can travel to your client’s location to meet him/her so an office is not a necessity. You can use the local library or a university law library or some of the on-line sites (if you can afford the subscription fees) for research purposes. So in reality, you don’t necessarily need a lot of start-up capital.
I always recommend that attorneys who are going out on their own have at least three to six months of living expenses saved before hanging their shingle. If your spouse works, you can probably get by with less money in the bank. Having a small amount of money stashed away will give you some piece of mind as you strike out looking for your first few clients.
When it comes to clients, if you can legally, morally and ethically move some of your existing relationships to your new solo law practice, you will be off to a fast (and more comfortable) start. This is a sensitive subject and it must be handled carefully. You should thoroughly examine the situation before you approach your client about this possibility. But if they do go with you, right from the start you will have some comfort that your business will have some solid initial cash flow.
Next, you need to embrace the fact that you are in a marketing business first and foremost. Your firm exists to help people solve their legal problems but you can’t do that if they don’t know you are there.
Here are a few cost-effective tips to get you off to a fast start from a marketing perspective:
Focus on a specific niche and develop a compelling value proposition to present to prospective clients.
It is difficult for a solo attorney or a small law firm to compete with the large multinational law firms (or even a medium size local law firm) as a generalist. It is important, especially when you first go out on your own, to pick a segment of the law and “own” it—from a marketing perspective. This will help you differentiate yourself from other firms in the marketplace.You can certainly handle all transactional issues and you can work on matters in other areas— but most of your marketing should be focused on the area of the law where your expertise lies.
Call everybody you know and tell them what value you bring to the market.
Most of us have deeper natural networks than we initially realize. Our friends, family and business associates know people who are good potential clients. Word of mouth is the best possible form of advertising. The minute you decide to go out on your own, get on the telephone and let people know about the value you are bringing to the market in your new role.
Follow your phone calls with an email. Many people will save your new business information with their electronic contacts so that they can search for it later. Providing them with an email that has your contact information will allow them to do this easily.
Make sure you follow up with these people by sending them something in writing. The trusty method of putting a pen to paper and sending a note or a letter in the mail still works well. A handwritten note with a business card can be particularly effective as this helps your friends and family make a physical connection with you in your new role.
For more tips on starting up a solo law firm, click “continue reading”.
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The Seven Deadly Sins of Unprofitable Law Firms.
How to Compete with Large Law Firms
Starting a solo law practice or managing a small law firm can be intimidating, especially if you have to compete with large, well established law firms. However, being in a solo practice or a small law firm can mean more freedom, flexibility, and less internal red tape. On the other hand, it can also mean having to compete with firms that have a long list of talented attorneys, well known clients, and expensive advertising campaigns.
In spite of the challenges, there will always be a portion of the market that will prefer working with smaller law firms and solo practices. It is your job to use your firm’s size to your advantage. Instead of focusing on what a small firm or a solo practice can’t do compared to big firms, think about what you can do. Small firms can offer speed, flexibility, and a level of value that is often lost in large law firms. Many attorneys claim that “clients don’t hire firms, they hire lawyers.” Believe this, and use marketing and common sense to compete with large law firms.
Don’t leave image building to the big guys. Whether it is online, in your printed materials, or the way you answer the phone. Potential clients want to make sure that your small firm can handle their big problem. One of the most important hurdles for you to overcome is the idea that you may not be competent or resourceful enough to handle a client’s problem. Don’t let potential clients believe this about your firm.
One of the most common mistakes made by small law firms and solo practices is not having a website or having one that is thrown together by a cousin. Unless your cousin is Steve Jobs, then this plan will not do. Your firm’s presence online and in printed materials needs to rival that of larger firms. Don’t sacrifice professionalism to save money.
Market your law firm’s size as an asset not a liability. In our ever changing, digitally based world, many people see large, established law firms as old and set in their ways. It can be perceived that they are too large to change with the times and to shift gears or get creative. Use this to your advantage.
In your printed materials and your website, talk about how your small law firm offers personal service. Let potential clients know that you want a long term relationship with them. One of the areas where large firms tend to fail is in truly understanding the client’s goals and objectives. The client may come to you with a particular problem, but it is your job to get to the heart of what they really want for their business or for their life.
Provide out of this world customer service. Be creative in how you attack their problem. Some large law firms can leave clients feeling like they are going down an assembly line and that they’re getting the same answers that the previous client received. Don’t do this. Always remember to refer to your client’s overall goals when talking about how you are handling their case. This will make the client feel that you truly understand that their legal matter is not the only thing that matters to them.
Want more ideas for beating the big guys? Click on “continue reading” below.
