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Building vs. Growing

“The tools that got you out of Egypt are not the same tools that will get you to the Promised Land.” ~ Dan Sullivan

Bigstock-wood-textured-backgrounds-in-a-54493616There is an inherent difference between what it takes to build vs. grow a business.  I see people buying into building when they need growing, and people buying into growing when they need building. In the law firm diagnostic calls I do, I see about 1% of entrepreneurs who need growth. I my personal opinion, those percentages should be more balanced, but buyers haven’t identified the status of the business prior to purchasing, so they just buy from everywhere. I can guarantee you when you call LWP, our sole commitment is to determine where attorneys stand, first and foremost, so we can determine what help they need.

When you’re in the infancy stage of your business, you need to build. Here’s what that looks like:

Building:

  1. Time/focus management
  2. Revenue Focuser
  3. Goal-setting with SMRs
  4. Project Focusers
  5. Team development, training and implementation
  6. Systems and processes
  7. Weekly cash flow tracking and reporting
  8. Lead generation and lead conversion systems
  9. Lead generation and lead conversion tracking
  10. Companywide communication skills that are consistent from initial contact to the closing of the file

Choosing just one of the above will not work long-term. Each piece is very much part of the global puzzle. In my experience, purchasing a lead-generation system is not going to be the magic bullet. Great, maybe it got your phone ringing, but if you don’t have a system to convert  those leads into paying customers, you’ll be quickly saying, “I bought that marketing guru’s X that she was guaranteeing would do A, B and C. And it didn’t. I didn’t get one person to hire me. It was garbage. She’s a crook.” Well, that statement may not be accurate; the product probably did get your phone to ring. But it wouldn’t matter without a system to process, track, follow up with and measure the lead. Where did the initial contact come from? What did we guide the client to do next? (Clients are calling for your guidance on what to do next; you must always have something to enroll them in that will give them that guidance.)

If you’re like most solopreneurs, you need to get money in the door before you can even think of purchasing a system for your client services coordinator, or putting in a time management system. “I’ll look into that after I have cash flow,” you think. So you may purchase a killer “Generate $10,000 a day in 3 easy steps” system. You generate your first $10K, but you pulled a few later nights, not realizing that the extra work is actually the “system” that it’s going to take to make the $10K a day.  Sure, this one piece of the puzzle that you purchased did produce what it promised, but at what cost? If you calculate your hourly rate, your team’s hourly rate and the possibility of shutting down other areas of your business to get this done, you would probably be horrified. (For the fun of it, email me if you would like our “what are you worth” exercise. Send me your completed exercise and I’ll lead a 30-minute analysis call to review your results. Consider it a gift.)

By now, you’re getting the picture. I have attorneys calling me daily saying, “I don’t need all that; I am just getting started and need to build my business first. I just need X.” Sadly, they come back a few months later (hopefully) or years later (more accurate) in a worse spot, with frustrated stories of how they bought this, did this program and “none of them produced what was promised.” This most often is not the complete picture.

What was missing for them was that they didn’t invest the time to lay out the big picture of what it takes to build a business. It is never one precise tool; it is very much an all-encompassing “and.” The “and” is a process that hits all areas of determining your monthly revenue goal and what it’s going to take to get there (how many appointments, what appointments are paying), time management (which days are money days, which are production days, which are project days),  lead generation, relationship management, system,  a team-centric approach to reach goal, etc. You get the point. In my experience, when your business is in the personal services industry, it is next to impossible to build a business without a widespread approach.

Building a business means implementing some or all of the items listed above. The pieces are up and running, on a consistent basis. There are not peaks and pits in your leads, referrals or paying clients. You’ve removed the revolving door at the entrance to your office for employees. Your business is systematized, with all areas automated and integrated. It is 80% team-led, freeing up the entrepreneur to spend 80% of their time in front of people (synergy referral meetings, existing and prospective client meetings and leveraged speaking events).

Once you’ve built your business, then you start to address the following growth components.

Growing

  1. Actuary referral and client statistics to create target marketing
  2. Elevation offerings for your existing clients
  3. Professional and client advisory boards
  4. Client and referral appreciation programs
  5. Team empowerment and leadership programs
  6. A  three-pronged marketing approach to double your revenue, year after year (and it’s only dependent on you as the business owner)
  7. Tri-annual practice enhancement retreats facilitated by professionals
  8. An annual maintenance program that allows you to be your own bank
  9. An internal lead system that relieves the business owner from operations, team training and law firm management
  10. Operating all areas of your business from an automated knowledge, workflow and CRM program that allows your business to be dependent on reporting and tracking instead of human familiarity
  11. A system for creating an exit strategy for a saleable practice (when you’re ready)

When you’re striving to generate monthly revenue – and that includes keeping the lights on and paying yourself each month, not taking what may be left over – you shouldn’t be in the market for a robust CRM program that will hand you leads that you can’t even follow up with. You need a building a business plan. You need such a plan when you’re striving to remove yourself from day-to-day operations because you have complete confidence that your business is systematized and generating consistent everything. You need it when you’re ready to move on to your next chapter of making certain the profit margin grows each year, but it’s not solely dependent on you to get the work done.

That is what I am most proud of with LWP: our members. So many of them had the presence to see the difference between the two; they had the patience to get through the building phase and the shrewdness to consciously move into the CONTROLLED growth phase (our motto is, do not blow everything up for the sake of growth). I am honored to be on this journey with them.  

Molly L. Hall, Co-Founder, Lawyers with Purpose, LLC, and author of Don’t Be a Yes Chick: How to Stop Babysitting Your Boss, Transform Your Job and Work with a Dream Team Without Losing Your Sanity or Your Spirit in the Process.

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When You Wake Up Monday Morning

Real quick, I’m not certain if you saw my two other previous blog posts and I wanted to make sure I kept you in the loop. I KNOW how Monday mornings feel with the email barrage…especially after being away from the computer all weekend (hopefully).

Member_brochure32I wanted to make sure you were aware LWP announced it has made a few changes to our membership levels specifically designed to serve solo and small sized firms based on their customized needs.

WHAT is changing you ask? Here are a few of the CHANGES in the membership levels. 

  1. LWP Silver Membership: This level of membership is currently $897/month which INCLUDES our 3 Day Technical/Legal training as well as the 3 hour VA accreditation program. Effective tomorrow this LIVE educational training program is no longer included in this level of membership. The tuition to attend this program will be an additional fee of $1,497 (A $1,497 SAVINGS if you enroll TODAY).
  2. LWP Gold Membership: This level of membership is currently $1,497/month which INCLUDES everything that the SILVER Level of membership offers PLUS the hands on customized, personalized Coaching, Consulting & Implementation program for your entire Law Firm. Effective tomorrow the Coaching, Consulting and Implementation is no longer included in this level of membership. (A $997/a month SAVINGS if you enroll TODAY).
  3. LWP PLATINUM Membership: NEW Additional LEVEL. This level of membership was never previously offered. It is $2,397/month which INCLUDES everything that the GOLD Level of membership offers PLUS a personal Attorney Mentor Coach. What this means is that you will have a successful LWP member that was sitting in the exact spot as you are now…nervous to commit to the monthly fee with an absolute need that this must work out. You will have a dedicated LWP attorney member, in addition to the CC & I program, to support you every step of the way on your journey to creating a salable, scalable business.

NOW really is the best time for you to take the leap of faith and join the LWP Community. Simply go to www.joinlwp.com to sign up TODAY.

Molly L. Hall, Co-Founder, Lawyers with Purpose, LLC, and author of Don’t Be a Yes Chick: How to Stop Babysitting Your Boss, Transform Your Job and Work with a Dream Team Without Losing Your Sanity or Your Spirit in the Process.

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Dangerous Productivity

“In today’s culture – where self-worth is tied to our net worth, and we base our worthiness on our level of productivity – spending time doing purposeless activities is rare. In fact, for many of us it sounds like an anxiety attack waiting to happen. We’ve got to get ’er done! It doesn’t matter if our job is running a multimillion-dollar company, raising a family, creating art, or finishing school; we’ve got to keep our noses to the grindstone and work!  Many of us still believe that exhaustion is a status symbol of hard work and sleep is a luxury. The result is that we are so very tired. Dangerously tired. But the truth is, we can’t handle it. We are a nation of exhausted and overstressed adults raising overscheduled children. We think accomplishments and acquisitions will bring joy and meaning, but that pursuit could be the very thing that’s keeping us so tired and afraid to slow down.”

Bigstock-Silhouette-Of-An-Exhausted-Spo-56076581The above passage is the wisdom of Brené Brown, one of, if not the, most highly referenced of today’s writers and researchers. Brené has spent the past decade studying vulnerability, courage, worthiness, and shame, and her published work is business – and life-altering. I have been studying it for the past three years and working with my business coach on incorporating much of her work into our organization.

Brené calls her syndrome “dangerously tired”; I would like to add “dangerously productive” to that diagnosis. As a follow-through, I am guilty of this. “Just finish up this marketing campaign and then I will close down for the day,” I’ll tell myself. “Muscle through, you can handle it.” “I can catch up on sleep this weekend.” There is a cost for this dangerous productivity. I see it in law firms every day. The challenge is that we trick ourselves that “it’s just this week” when the truth is that this level of muscling through becomes our norm. And if this isn’t our way of being? Then it’s almost worse, because we repeatedly beat ourselves up for not being motivated enough or not working hard enough.

The following exercise Brené rolls out in her book, titled “The Gifts of Imperfection: Let Go of Who You Think You’re Supposed to Be and Embrace Who You Are,” was a game changer for me personally. And yes, I will be sharing it with the team this week.

STEP ONE – Create a list of specific conditions that are in place when everything feels good in your life (here’s an example of mine):

  1. Starting my day @ 5:00 a.m. with exercise
  2. Being present for & connecting with kids in a.m. before they head off for school
  3. Dedicated 1 hr. Sunday evenings for my “Rock Star Week” planning
  4. Weekly partner meeting to connect on strategic opportunities vs. operations
  5. A scheduled vacation on the horizon to keep me moving to know there is time carved out for play, rest and connection with my family & friends
  6. Operating from my written Marketing Plan with deadlines for the week
  7. Weekly accountability meeting in place for the beginning and end of the week to hold my feet to the fire to stay focused on my goals

STEP TWO – Create your To-Do List (here is one of mine):

  1. Type up notes from partner meeting
  2. Schedule calls with DH & VC
  3. Follow up emails to MO and RD
  4. Call with AM on L/T webinars
  5. Call w/RD about covering for me while I am in China

STEP THREE – Create your To-Accomplish List (Here is a sample of mine right now):

  1. Automated Enrollment Process in Infusionsoft with triggers and chains for each step of the enrollment process
  2. Meet “100 Days to Year End” goal by December 19,2014
  3. Generate 16 initial contacts per week consistently
  4. Replace myself in Operations by October 1, 2014
  5. PPT up & running and generating $22,500 in revenue by December 19, 2014

The most revolutionary part of this exercise was looking at the pieces that must be in place in order to create and traverse (not muscle through) my rock star week.  The other “AH HA” was comparing my To-Do List and my To- Accomplish List. I loathe my To-Do List. It sucks the life out of me. It’s busy work that doesn’t challenge or inspire me. I quickly realized it’s time to delegate my To-Do’s for the week and put my To-Accomplish front and center. I am going to be incorporating this exercise every week in my Sunday planning time and I am going to immediately delegate my To-Do List to allow me to focus on my To-Accomplish List.

Dangerous productivity is not a long-term plan for success, whatever success means for your business. Dangerously productive is so “old school” and has been replaced with intentional laser focus, which in turns eliminates the exhaustion as a status symbol and replaces it with joy and meaning.

Molly L. Hall, Co-Founder, Lawyers with Purpose, LLC, and author of Don’t Be a Yes Chick: How to Stop Babysitting Your Boss, Transform Your Job and Work with a Dream Team Without Losing Your Sanity or Your Spirit in the Process.

 

Cost vs. Price vs. Worth vs. Value

Two of the most common terms we hear used in economics are price and cost. They seem almost interchangeable, but that is not the case. So what exactly is the difference between price and cost?

Cost vs. Price vs. Worth vs. Value is always such a tricky conversation for attorneys to navigate with confidence and ease. Most times when we receive calls from interested attorneys they classically dance around the question of “What does it cost?” Sadly this is well after they asked for a detailed explanation of the worth and value. And why this is so sad is because they were unable to be present during the conversation of worth and value because the daunting price question was looming. No irony why the same entrepreneurs are typically the ones that struggle with inconsistent leads and unpredictable mood quoting of fees in their practices.

So, where am I going with this?

Over the last year you have contacted LWP to hear more what value our membership levels provide and what the pricing structure is. Well, if you’ve ever been seriously interested, now is the time to put pen to paper and weigh the Cost vs Price vs Worth vs Value because effective Monday, October 27th, our Pricing, Services & Membership models are changing. And I think you will be pleased.

If you have been considering joining the Lawyers with Purpose community please contact me at mhall@lawyerswithpurpose.com to schedule a 15 minute demo to see the upcoming Pricing, Services, & Membership changes and how the changes may impact you!

NOW may be the best time for you to take the leap of faith and join the LWP Community…waiting could possibly cost you.

In your corner,

Molly L. Hall, Co-Founder, Lawyers with Purpose, LLC, and author of Don’t Be a Yes Chick: How to Stop Babysitting Your Boss, Transform Your Job and Work with a Dream Team Without Losing Your Sanity or Your Spirit in the Process.

 

Please READ – NEW Pricing & Membership Changes – Effective Monday, October 27th!

At LWP we are committed to innovation and continuous improvement. In an effort to augment our services and the value of our membership levels, LWP is excited to announce it has an additional membership level. All membership offerings were specifically designed to serve solo, small and medium sized firms based on their customized needs. Changes are applicable to all NEW memberships beginning on Monday, October 27th.

If you have been considering joining the Lawyers with Purpose community please contact me at mhall@lawyerswithpurpose.com to schedule a 15 minute demo to see the upcoming pricing, services, & membership changes and how the changes may impact you!

NOW may be the best time for you to take the leap of faith and join the LWP Community…waiting could possibly cost you.

In your corner,

Molly L. Hall, Co-Founder, Lawyers With Purpose

 

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The Perfect Effort Is Not A Fiction

Fall is on the horizon. This only means one thing: movie theatres are back in the rotation for our potential family outings. Last Monday after school it was an unusually rainy, cold day, so I surprised the kids by picking them up and heading to the movies – one of our favorite, favorite things to do. Our first movie of the new season was “When the Game Stands Tall.” This film is based on the true story of the De La Salle Spartans, a high school football team from northern California. It is a moving plot about a team that didn't lose a game, not one single game, for 12 years from the early '90s to the early 2000s.  They ran their record to 151-0. This is not just another movie about football; it tells about a mission to lead boys into manhood and prep them to carry the burdens of the society into which they soon will enter.

Screen Shot 2014-10-01 at 9.21.11 AMThe foundation of the movie is Coach Bob Ladouceur’s unique coaching process, which he called “The Perfect Effort.”“Coaching is about human performance and how to get each player to realize their potential through the actualization of their individual talent,” Coach Lad once said.  “While winning is important – it is why we play the game and keep score – the emphasis is on ʻthe process,ʼ what each player must do that in aggregate leads to victory. The formula for success in team sports is simple.  The implementation of that formula is complex and is the art of human performance.”

“The game stands tall when we display the conduct and actions that not only make our life more productive but also improve our community,” he added movingly.

The Perfect Effort is more about bringing your “A” heart with your “A” game. It is about unwavering perseverance and not being defined by a loss.

Whether it is a football team, an office team, a marketing team, etc., The Perfect Effort process applies wherever you go. The singular success of a 151-0 record was created not because the De La Salle Spartans spent more hours in the gym than any other team. It was not because they fought harder than any other team. The success came from being very clear on what their individual roles were, how to integrate with each member on the team, and the impact of the whole of the process and the team organization – all with integrity and collaboration in mind, never focused on the individual. It was always about The Perfect Effort within the core values of the team first and foremost.

What I love most about movies is how they can deliver powerful messages in 120 minutes that are so relevant to our day-to-day lives. They can break through even if you’ve heard the same messages before, i.e. LWP with our unending stand for embracing of process with a team-centric approach to reaching the goal. Sometimes, most times, it takes a light, fun environment to drive the message across the goal line. 

Molly L. Hall, Co-Founder, Lawyers with Purpose, LLC, and author of Don’t Be a Yes Chick: How to Stop Babysitting Your Boss, Transform Your Job and Work with a Dream Team Without Losing Your Sanity or Your Spirit in the Process.

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What Your Team Really Sees

Don’t you just wish your team would tell you what they really see day in and day out on the front lines? The opportunities they see that your firm’s not slowing down enough to make a path and plan for. The new additions, 2 mm shifts and prospective pools they easily witness but are hesitant to create more work for you, and the team, so they let the chances pass.

Bigstock-black-glasses-on-a-white-backg-40705117“Business as usual” will not work anymore…Take control and position your company for the future!

Do you need to find a way to get money in the door? Your phone to ring more? Build your team? Actually finish a project from ideation to completion?

A major outcome of Intentional Planning is enhanced strategic thinking and massive mindset shifts. Some of the things you will walk away with from Thursday October 23rd of the Practice Enhancement Retreat:

  • Generating of new ideas—ideas that, otherwise, would not be considered.
  • Going beyond the status quo—beyond one’s competitors.
  • Bringing new perspectives and approaches together—and combining them in realistic ways.
  • Identification of critical, high payoff strategies and the prioritization of team efforts accordingly.

Firm Retreats ensure that your Big Ideas and Plans will no longer rest on the shelf or be dependent on solely you as the business owner—teach, show, do, go…grow.

In our experience, it is very difficult (impossible) to carve out time to really work ON the business when the phones are ringing and its business as usual.

Register TODAY as you don’t want to miss out on this strategic planning “Money Plan” day led by Dave Zumpano on Thursday October 23rd at the LWP Practice Enhancement Tri-Annual Practice Enhancement Retreat. Contact Marci Otts at motts@lawyerswithpurpose.com to register TODAY! 

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It’s Already Packed!

Are you going to be in on the groundswell of what is occurring in the Estate & Elder Law Industry right now? We want to make certain you have been receiving our invites to the October 20-22nd  Asset Protection, Medicaid & VA Practice With Purpose CLE Program. Its already a PACKED ROOM. You don’t want to wait to get your seat.

Click here to get the full details, agenda and what to expect.

Bigstock-Red-Seat-Standing-Out-62319443There are 100 days remaining in the year. Don’t “wait until the next one”, there's just too much opportunity to wait until next year to get in the conversation with clients. Trust me, you need to get going now.

Molly L. Hall, Co-Founder, Lawyers with Purpose, LLC, and author of Don’t Be a Yes Chick: How to Stop Babysitting Your Boss, Transform Your Job and Work with a Dream Team Without Losing Your Sanity or Your Spirit in the Process.

 

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Why You’re Not Reaching Your Revenue Goal

Just as we each need to create and declare our goals for personal growth, our teams need to create and declare common goals for the continued growth of our practice. We see firsthand over and over again…this is the common denominator for those making their revenue goals and those that are not. The difference is a growth path for team and attorney alike.

Bigstock-Close-up-Of-Hand-Crushing-Bank-44754049Every team needs time to step away from the daily tasks that we perform in our effort to create a great experience for our clients. Have you ever thought to yourself “What a luxury it would be to have T-I-M-E!!” … time to brainstorm with each other about what’s not working and what’s working … time to focus on the practice and really, actively plan for your future … time to set realistic goals and put in writing an action plan that includes who is doing what, by when, and how to carve it out in their weekly calendar. All with the reality that if we stick to this plan and hold each other accountable to it by checking in during our weekly team meeting, we can actually bring the goals to fruition …

The LWP™ Tri-Annual Practice Enhancement Retreat offers you exactly what you’ve been dreaming about … T-I-M-E … an entire afternoon dedicated to your team and your practice … with a working plan to get you started and coaches available for when you get stuck. Imagine having time for your entire team to work ON the practice rather than IN the practice … imagine the possibilities. No need to imagine, because you can make the possibilities into probabilities and arrive at the office with a workable plan for creating the reality.

That is time well-spent … That is a Team Retreat.

To take part in the half day “Intentional Retreats: How to get you to where you want to go” contact Marci Otts at motts@lawyerswithpurpose.com to reserve your seat. All registration closes September 29th, 2014.

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This Is Not What I Signed Up For

I have been told that the job hunting process can become mundane and can leave you feeling defeated and hopeless on most days. The “process” begins with turning on the TV to watch the TODAY show, brewing a fresh cup of joe and clicking on all your bookmark tabs: Monster, Craigslist, Indeed, local listings, etc.

Bigstock-Spiral-Light-Bulb-Character-An-69348181You begin to browse the latest listings and can recite the standard ad posting word for word. I have been told it gets to the point that you don’t even read the ad any longer, as the average “bookkeeper” ad doesn’t tend to deviate much. There isn’t much creativity or uniqueness in a standard position. You get called in for the interview, and you pass with flying colors. You review the job description at the interview and scan through it with lightning speed. “Yay, blah, yep, standard. Got it. So where is the part about hours, vacation and holidays?”

At LWP we spent years and years with a communication expert to help us carefully craft the job descriptions and organization charts our members use to create their own versions, all in the spirit of “who's doing what to reach the goal” in their business. Last week I was on an LWP implementation call with a new team member serving in the role of the relationship and community outreach coordinator. The attorney requested that I go through her job description line item by line item with her, comparing it to the system for her job side by side to make certain she understood where in the system she could fulfill each responsibility. He wanted to make certain she understood how to carry out each of the actions within the job description, which we had carefully tweaked to make specific to his needs.

Since she has been in the marketing industry for a decade, I knew I had my work cut out for me. After 17 years of this, I’ve learned that the veteran employees can often be the most inflexible. She understands the power of nurturing relationships and showing up as a “GO Giver” everywhere you go. She truly was a superstar when it came to talking the talk. But when we broke down the job description and its implications for her day-to-day activities, she quickly became quiet. Her chiming in and interrupting with what she did at the last job plainly came to a standstill. We were meeting via Skype, but I could still see her entire body language shift. “Tammi, I want to check in,” I said. “I am noticing you leaned back from the screen. Your hands are no longer flopping with excitement. Your bubbly persona is in dire need of fix-o-flat. What’s up?”

“This isn’t what I signed up for. I am a marketer; this is all follow-up work,” Tammi scarcely peeped out. I could hear the fear of the possibility that the very words that left her lips may have just produced her walking papers. “Tammi, did you not read the job description before you took the job?” “I glanced at it,” she replied. “But I thought it was like every other job, boilerplate.” The direction of the conversation took a 2mm shift. We talked about how not following up with your prospects and customers is the same as filling up your bathtub without first putting the stopper in the drain! I always tell my attorneys, you’re better off staying home than wasting your time making contacts if someone on your team isn’t putting in the time (and heart) on the follow-up.

A study done by The Association of Sales Executives revealed that 81% of all sales happen on or after the fifth touch. And I have actually seen it much higher in the personal services industry (which we are); it is usually more like nine touches. This is especially true when you don’t have a fancy retail marketing budget, meaning your firm’s branding is probably all over the place. Solopreneurs sadly lose too much business because of one reason and one reason only – lack of follow-up. We discussed how the follow-up is NOT grunt work. It’s not admin work. It is enrollment. It is where you get to marry all your marketing genius and integrate it over and over again. If you shift your mind from a place of “task” to a place of “marketing” you will see how this IS not only your job, but the most important part of your job. She got it.

We created ways to make the follow-up creative, with personal connection and tracking and measuring. We made a game of it in a way where we would know when we reached the goal. “This is not what I signed up for” is what we hear from people, but usually only when it’s too far gone. Take the time to go through your team’s job description with your system of how to do what they are supposed to do. You will be surprised that most people don’t spend the time going through this piece, and it’s crucial to getting your team properly up to speed and trained. And the act of doing it with them is essential. The biggest piece that is getting glossed over is usually a mainline to why you may be struggling with lead generation, lead conversion and/or consistent cash flow.

If you're an estate planning attorney and want to learn more about Lawyers With Purpose check out the agenda for our Practice With Purpose Program from October 20nd-22nd in Phoenix, Arizona.  We still have a few seats left so register today to make sure you reserve your spot!

Molly L. Hall, Co-Founder, Lawyers with Purpose, LLC, and author of Don’t Be a Yes Chick: How to Stop Babysitting Your Boss, Transform Your Job and Work with a Dream Team Without Losing Your Sanity or Your Spirit in the Process.