Speed Helps You Make More Money

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Speed WinsSpeed is a huge competitive advantage for you.

Most people underestimate the value of speed in relation to business strategy.  People who can act and react quickly will almost always be more successful than people who vacillate and suffer over every minor detail.

There are three specific areas of law firm marketing and business strategy where speed is a tremendous competitive advantage.

Speed of Decision Making

The ability to make good decisions quickly is a hallmark of exceptional leadership.  This is partially developed through experience and partially developed through the discipline and focus on the facts of each situation.

The speed at which you assess, evaluate and act upon the information available can be the difference between success and failure.

Speed of Implementation

Good ideas are valuable.  Good ideas successfully implemented are exceptional. Good ideas successfully implemented quickly can disrupt entire industries.

Your ability to put good ideas into action will make or break your business.

Speed of Innovation

Your ability to come up with new/creative ideas to solve traditional problems will help you differentiate yourself from everyone else who does what you do.  As you come up with these new ideas, people will imitate you. You must innovate faster than people imitate.

Similar to speed of implementation, speed of innovation can allow you to transform your entire industry.

Your focus, your obsession, on speed in these three areas will pay huge dividends.  But you must build your firm with an emphasis on it. This means:

  • You hire people who are comfortable thinking and acting quickly.
  • You compensate people based upon the quality and speed of their actions.
  • You recognize your own ability to improve your speed in each of these areas.

This is generally only a focus for people who are at the top of their game. The average business owner (and the average lawyer) does not know how to even begin to improve his speed.  That’s where I can help.  If you are looking to make speed a competitive advantage, you must apply to my private client experience.  That one-on-one relationship directly with me can transform the way you do business and the clients you attract.

Here are three other articles you need to read to keep your edge:

How to Get Marketing Right

Most people think about marketing as a one shot act designed to attract hundreds of clients.  This only happens a small percentage of time. Most of the time you need to methodically follow-up with prospective clients repeatedly. This article (and the included audio program) gives you a step-by-step guide on how to do that.

How to Follow Up After a Networking Event

This is our new series call the Four Minute Fixation. The first installment in this series is dedicated to helping you make a connection that results in new business.

What You Should Do Next

The amount of information available to a lawyer looking to grow his law firm is phenomenal. Many of the readers of this article may be wondering what to do now.  The answer will vary based upon your situation.  If you want to develop a well thought out, efficient approach to business development and law firm strategy, you need to apply for my private client experience.  This is a one-on-one relationship directly with me and it will provide you with a huge return on your investment.