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Law Business Manifesto

Category Archives: From Law Practice to Law Business

The Secret Weapon of the Rich

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Have you ever wished that there were 25 hours in a day? Let’s face it, there are days that no matter what you do, you simply can’t get everything done that you wanted to. If this sounds like you, then you are not alone. Many business owners feel overwhelmed at one point or another in their business. It’s like a tug of war game where you are being pulled in so many directions that you never seem to get anything done. Wouldn’t it be nice to have a secret weapon to help you win this war for your time? Here’s … Continue reading »

About the Contributor
Denise Gosnell
Denise Gosnell is an attorney, 8-time author, and entrepreneur. Through her law firm, Gosnell & Associates, Inc., Denise focuses on providing recurring legal services to information publishing, training, and tech companies to help clients grow their company's value through the proper intellectual property and other protections, while also reducing the biggest operating liabilities.

Why Are So Many Lawyers Broke? (Part 2 — Differentiate Yourself)

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Let’s be clear… Competing on price is NOT a strategy for the long-term success of your law practice. It diminishes your value in your client’s eyes, not to mention your self-worth, which will eat you alive over the life of your career… Particularly when you’re struggling to keep the lights on. When there are more lawyers than demand for legal services, you risk becoming a commodity. In your client’s mind, “a lawyer’s a lawyer’s a lawyer…” and depending on your practice area, they probably wish they never had to call you in the first place. That’s a sucky situation. But … Continue reading »

About the Contributor
Craig Allan
Craig Allan is co-founder and President of New Law Business Model. He has over 11 years experience building marketing-based businesses with integrated online systems. Craig believes that family is the most important unit of society and feels lawyers have a unique responsibility to positively impact families, communities and future generations.

3 Insurance Pitfalls That Can Put Your Law Practice At Risk

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In 2011, I had to deal with a house fire that destroyed my entire home. Traumatic as that was, I learned some valuable lessons from that experience. So many, if act, that they cannot easily be covered in just one article. For  today, I’d like to expand upon some all too common insurance pitfalls that could be putting you and your practice at risk if you ignore them. 1. Separate Coverage Is Needed For Business Property At Your Home One thing I’ve learned about insurance that surprised me is that most homeowner’s policies (including mine) have limits on how much business … Continue reading »

About the Contributor
Denise Gosnell
Denise Gosnell is an attorney, 8-time author, and entrepreneur. Through her law firm, Gosnell & Associates, Inc., Denise focuses on providing recurring legal services to information publishing, training, and tech companies to help clients grow their company's value through the proper intellectual property and other protections, while also reducing the biggest operating liabilities.

Why Are So Many Lawyers Broke?

broke

Many people don’t believe it. Even lawyers are known to scoff at it. But many of you know the truth — you go to law school, spend a small fortune and come out to find the pickings are lean. Looking deeper than 6 figure school loans and the trend of fewer Big Law positions available to absorb the glut of new law school grads every year… Let’s examine the real reason why so many lawyers are broke. “…the number of jobs in small firms has generally been increasing in recent years, and for every job in a large firm taken by … Continue reading »

About the Contributor
Craig Allan
Craig Allan is co-founder and President of New Law Business Model. He has over 11 years experience building marketing-based businesses with integrated online systems. Craig believes that family is the most important unit of society and feels lawyers have a unique responsibility to positively impact families, communities and future generations.

Take Stock Now So Your Law Practice Thrives in 2015

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As the end of the year approaches, now is a good time to take stock of our successes — something a friend of mine poetically calls “harvesting”. As entrepreneurs who commit to changing the legal profession through the way we practice and through our lives… It’s critical for us to reap what we’ve sown, consciously and carefully. Many people will look only at their revenue to figure out if they met their goals, but at Law Business Mentors, we know that wealth comes in many forms — not all of which are financial. This time last year, with the help of … Continue reading »

About the Contributor
Martha Hartney
Martha Hartney's is a successful Estate Planning lawyer in Colorado and co-creator of the Estate Planning Bootcamp. As a Law Business Mentor her greatest hope is to help other lawyers claim, or reclaim, the joy and the spiritual pursuit of being a lawyer.

7 Things You Need to Do to Engage More Clients in Your Law Practice

7 Things You Need to Do to Engage More Clients in Your Law Practice

As I promised last week, I am back with an article on the specifics of what it looks like for you to have systems in your law practice for engaging clients, and to be serving those clients in such a way that they turn into raving fans.  Just as a reminder, having systems in your law practice is the ultimate key to you having all the cash flow you want from your law practice while loving being a lawyer again. Law practice systems are easiest to implement in “transactional” practice areas like bankruptcy, real estate, divorce, immigration, criminal defense, and … Continue reading »

About the Contributor
Alexis Neely is a Law Business Mentor and creator of the New Law Business Model. She built her law practice from scratch into a million dollar a year generating business in just three years with the new law business model her family and her clients loved.

What’s Your Exit Strategy?

What's Your Exit Strategy

Will your law firm be a saleable asset, or just ride off into the sunset with you one day? For lawyers who figure it out, selling their law practice is a great retirement strategy. For others, selling is a nice dream. And many others know it’s not even worth trying to sell what they’ve been holding together with duct tape and bubble gum all these years. There’s a secret about building and selling businesses (which you weren’t taught in law school). “Companies like McDonalds, Federal Express and Disney didn’t end up as mature companies. They started out that way!” ~Thomas … Continue reading »

About the Contributor
Craig Allan
Craig Allan is co-founder and President of New Law Business Model. He has over 11 years experience building marketing-based businesses with integrated online systems. Craig believes that family is the most important unit of society and feels lawyers have a unique responsibility to positively impact families, communities and future generations.

Lawyers: Is It Time To Quit Law?

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You don’t have to love being a lawyer. There’s no requirement that you do. In fact, there’s no requirement that you continue practicing law. Think about that… You’re smart. You can accomplish whatever you put your mind to. Afterall, you made it through law school, passed the bar and started practicing. That’s worth celebrating. (I’m not joking.) Take a deep breath and congratulate yourself. You’re in an elite strata of society. You’re a do-er. You can do anything if you care enough. This is your new Point A. Wherever you find yourself right now. Just put yourself on the proverbial … Continue reading »

About the Contributor
Craig Allan
Craig Allan is co-founder and President of New Law Business Model. He has over 11 years experience building marketing-based businesses with integrated online systems. Craig believes that family is the most important unit of society and feels lawyers have a unique responsibility to positively impact families, communities and future generations.

3 Reasons Business Owners Could Be Your Best Clients

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If you are not currently serving business owners, now might just be the time for you to start. You see, handled the right way, business owners are great clients because…   They always need lawyers They have money to hire lawyers They are seriously appreciative when you serve them outside of the norm of the lawyers they are used to hiring. Here’s three even better reasons business clients are great for lawyers: 1. Business Owners Are Busy The owner of a business knows that she needs legal help. She knows she needs her business entity maintained. She knows she needs … Continue reading »

About the Contributor
Alexis Neely is a Law Business Mentor and creator of the New Law Business Model. She built her law practice from scratch into a million dollar a year generating business in just three years with the new law business model her family and her clients loved.

Clients for Life: How to Become a Trusted Advisor

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What does it really mean to be a trusted advisor and why would you care? Well, when you’re a trusted advisor to your clients vs. just a “lawyer” they consult for one thing, one time… It really shifts everything about your law practice in a most wonderful, meaningful way. Because right now, you are probably taking clients on a one-off basis. What that means is that you are constantly in search of the next new client, spending money on marketing or doing tons of networking, hoping to get referrals. They come one by one and then you serve them, collect … Continue reading »

About the Contributor
Alexis Neely is a Law Business Mentor and creator of the New Law Business Model. She built her law practice from scratch into a million dollar a year generating business in just three years with the new law business model her family and her clients loved.