Ed offers 5 ways to increase your law firm’s revenue. 1. Emphasize collections. 2. Hire lateral lawyers to meet specific demands, a new practice area, a new need. 3. Leverage technology. 4. Create a cooperative compensation model that emphasizes the law firm as an institution. 5. Outsource functions that are better done by others. Delegate.
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.
Whether it’s a recession or a depression we’re in, several lessons have surfaced we cannot ignore. This week, Ed ponders what we can learn from this crisis to ensure we’re on the right track for the future.