My wife was a Demolition Derby skeptic. The experience wasn't what she was expecting. The action comes in spurts and is neither methodical nor random.
A lot like the marketing and business development process at many professional services firms.
(How to earn more without working harder)
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My wife was a Demolition Derby skeptic. The experience wasn't what she was expecting. The action comes in spurts and is neither methodical nor random.
A lot like the marketing and business development process at many professional services firms.
Type A people love to point out you are laser-focused on results. The go, go, go nature of professions like law and finance are like a drug.
Busy does not mean productive.
The median real income of lawyers fell 1.9% since 2001 according to Reuters. Marketers tell you to increase your digital footprint to attract more clients. I say something a bit different.
Some clients are bad for your business. These clients cause headaches, frustration, and generally suck the energy from you. It should be easy to get rid of your bad clients. . . but you still have them.
Here are 3 ways to be rid of your bad clients.
Stop trying to be the Best Choice.
Instead, be a Great Choice. Your clients will thank you by selecting you faster, paying you more, and being more loyal.
Randy is an attorney who brags he can identify a future Best Client in 15 minutes or less. It used to take him 1-2 hours, and the criteria was whether he get them to hire his firm. How'd he do this? He rewired his brain by asking himself a question.
Many gurus tell you to make it easy (on you) and blame factors beyond your control like inflation or the pandemic. Bad advice. There's a better way to raise your fees.
I'm a big believer that NOW is the time to act. It is always easier to act from strength than weakness. That's why the rich tend to get richer and strong firms get stronger.
Professionals struggle with selling because you're focused on the wrong prize. "Expert" advice is so contradictory: be more persuasive, active listening, sell yourself. You struggle with selling because you have the wrong goal.
The past couple of years have been great for a lot of small law and other professional services firms. Not having to beat the bushes for business has been great. This week brings more distressing news about the economy. Is your business ready for uncertainty?
