LawBiz® Legal Pad On the Road!: Practice Development
How do you set yourself apart from your competition? Here’s a hint – don’t lower your fees!
View page
How do you set yourself apart from your competition? Here’s a hint – don’t lower your fees!
Will you be one of the 400,000 lawyers retiring in the next 10 years? Today, Ed discusses what can be done when it’s time to move on.
Ed discusses how to estimate future costs by listing your assumptions.
Most clients don’t complain about hourly rates; they complain about the totality of their legal costs. In order to control legal costs, one help is budgets.
How to estimate future costs: List your assumptions and make sure the client understands these and also provide for change-orders if any of these assumptions prove to be erroneous. That’s how you keep the costs down and that’s how you keep the client satisfied.
Ed reveals how to define your target market and the tactics necessary to reach it.
A good banker can be a lawyer’s best friend. Ed teaches how to select the right one in order to establish a reliable line of credit.
Developing your practice and business will always be a priority. This week, Ed shares tips about how networking can help you do this.
What responsibility does a lawyer have when a financial institution fails and a client’s trust money is held by the financial firm?
Ed Poll answers this question as he talks about Trust Accounts this week.
This weeks topic is how to charge a client for the initial consultation.
Ed shares some thoughts on electronic marketing and offers ideas on how traditional marketing can help you stand out in the crowd.
-You are more likely to be remembered, thus contacted, if you reach people on a personal level.
-Differentiating yourself will lead to increased :
–calls by clients and prospects
–meetings
–calls from the media
–meetings
-And most importantly:
More money in the bank.
Factors to Consider When Marketing You Firm:
-Have a Marketing Plan
-Consider the commonality between you and prospective clients.
-Play the Numbers Game
-The more people you can get in front of; the better the chance of someone engaging you.
-Build a quality referral sources
-Understand that people learn differently
-Connect with other professions who share your market