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Law Business Manifesto

Category Archives: From Law Practice to Law Business

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

Taking Stock

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?

quitting

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

Unique golden egg

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

Trusted-Business-Adviser

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.

Lawyer Tips: 5 Ways to Stop Sucking at Sales

stop sucking at sales

Want to hear something funny? When you think about it, the oldest profession in the world is actually… sales. (Think about that for a minute if you don’t get the joke.) It never ceases to amaze me when professionals look down at selling as though it’s some kind of social disease. Let me set a few things straight about sales. The Truth About Sales 1.) Nothing happens in our economy until somebody sells something. That turns the whole thing on its head, doesn’t it? We NEED sales people in society like we need bees in our orchards and crops. 2.) … 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.

Elements Of An Effective Law Business Plan

Elements of a Successful Business Plan

Your law business is your vehicle for realizing your dreams in life. Done properly you will create a business that provides you with the money you need to live the life you desire, and the time to enjoy it with loved ones – meaning you’re not working 50-70 hour weeks, and when you’re home, you are pleasant to be around. To write an effective business plan, like any effective communication, you need to know your audience. Who is this plan for? There’s a big difference between a business plan for seeking bank funding, and a business plan to keep yourself … 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.

Creating An Experience — The Power of The New Law Business Model: Part 2

customer experience

In my last post, I shared with you that the number one thing your clients will happily pay more for is “an experience”. Now, this doesn’t mean you have to have a lot of experience as a lawyer. I don’t mean that kind of experience… It really doesn’t matter how much legal experience you have in order to create an experience for your prospects and clients. What your clients want is to feel something when they come in and work with you. However, this is not an across the board truth. Some prospects are shopping around based on price, that’s true. But … 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.