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Lack of steady, consistent, predictable cash flow is the number one problem most lawyers tell me they have in their law practices. They tell me that if they could just solve that problem, everything in their life would be better.
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Unfortunately, most lawyers are looking to solve this problem in all the wrong places. Often, they think they just need to get their phone ringing more. Maybe you’ve thought something like this yourself. “If I could just get my phone ringing, I’d be golden!” I remember thinking that myself.
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But, it wasn’t actually true. In fact, if I had gotten my phone ringing more without solving some of the other issues I’m sharing with you in this article, I would have ended up out of business, fast. You see, a ringing phone wouldn’t have solved the reality that I didn’t know how to get most of the people calling my office into an appointment with me. And then if I did get them into my office, most of them still left without writing me a check or tried to haggle me down on my fees. Finally, if I did manage to turn the prospect into a client, I didn’t have streamlined systems for serving my clients so they turned into raving fans. Instead, my focus was always on where my next new client was coming from. It was a recipe for a never ending ball of stress. Maybe you are experiencing it yourself now. I called it the treadmill of dread and the cash flow roller coaster. And all of it was making me sick. If you truly want to solve the problem of lack of steady, consistent, predictable cash flow in your law practice, don’t focus on getting your phone ringing with qualified prospects until you’ve created systems in your law practice for engaging clients and creating an experience for them that they cannot stop talking about. When you create a client engagement system in your law practice that blows your prospects and referral sources away, what happens? You end up with a whole lot more client engagements. Then, when you create a system for serving your clients that is streamlined so it’s easy for you to deliver your services and creates a WOW experience for your clients, you also end up with a whole lot more client engagements. It’s only after you’ve got those two things in place — 1. a system for what to do the minute your phone answered that gets your prospects in the office and ready to engage your services and 2. a system for serving your clients once they do engage at the highest level — that you are ready to invest in getting your phone ringing. Doing it at that point allows you to know that every dollar you put into your marketing machine will pay you back many times over, so investing in your marketing becomes a high return on investment (ROI) probability. So what does a system for engaging clients look like? And what does a system for serving those clients so they turn into raving fans look like? You can learn more here. In the meantime, do a little brainstorming yourself. Put yourself in the shoes of your prospects and clients and walk yourself through the process of what happens from the moment a call comes into your office until the time that your clients are served all the way through. Do you have systems and a process that feels luxurious? Or is it more lax? Would you want to hire you?
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About the Contributor Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.
So You Want To Make An Extra $20,000 A Month In Your Law Practice — Here’s What It Would Take And How To Make It Even Better How Much (And When) Should I Invest to Grow my Law Practice The 4 Symptoms of a Failing Life and Law Practice and How to Fix Them To Love Being a Lawyer Again Most Common Law Practice Mistakes That Kill Lawyers Lives and Incomes (and How to Fix Them) How to Generate Leads with Business Owners BEFORE You Have a Client Engagement System in Place Tracking Your Law Practice Client Engagement System Results Update From the Live, InPerson Intensive in Colorado — We Did It!
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What Makes a Lawyer “Affordable”? The Affordability Paradox Big Announcement! Major Change at New Law Business Model + Opportunity for You! So You Want To Make An Extra $20,000 A Month In Your Law Practice — Here’s What It Would Take And How To Make It Even Better How Much (And When) Should I Invest to Grow my Law Practice The 4 Symptoms of a Failing Life and Law Practice and How to Fix Them To Love Being a Lawyer Again Most Common Law Practice Mistakes That Kill Lawyers Lives and Incomes (and How to Fix Them) How to Generate Leads with Business Owners BEFORE You Have a Client Engagement System in Place Tracking Your Law Practice Client Engagement System Results Update From the Live, In-Person Intensive in Colorado — We Did It!
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