I’ve been invited by Cathy Fyock to present a Master Class to her audience of authors and speakers. The title of the discussion is, “Don’t Just Present; Engage!”
Overview: Podcasting is a tool to help maximize exposure to your target audience, to create brand awareness and to develop significant content supporting your product/service expertise. I’ll explain how and why this medium is surging in popularity, factors you should consider and tips for implementing a custom-branded podcast to grow and increase the influence of your personal brand. Develop clients by engaging with them, rather than simply presenting to them. That’s how you create long-term relationships and repeating revenue streams.
Surely that was a typo in the title, right? We just wrapped up 2015. How could we possibly look back over 2016, already? Rest assured, it wasn’t a mistake.
2016 Will Fly By You. What’s Your Plan?
So many of us get surprised by how quickly the end-of-the-year actually arrives. Sure enough, if you look at your new calendar, you’ll see it’s made up of 12 months, 52 weeks, 365 days, 8,760 hours or 525,600 minutes. Yet, for many of us 2016 will seem to have passed by more quickly than we planned. Having a plan is the key to making the most of the opportunities which lie ahead.
By now, you’ve probably looked at your business results from 2015. You’ve identified some areas you’d like to improve. You may even have begun to implement some new changes. I’ve done the same for my business.
It’s important to come to terms with the fact that we tend to be creatures of habit. We easily fall into routines that are routine and comfortable. Routines, however, can be dangerous. I challenge each of us (myself included) to commit to doing at least a few things differently in 2016.
It may be helpful to close your eyes and visualize how you want this year to end.
What will you have accomplished?
Where will your business be?
How will it be different from where you began?
That simple exercise may help you to identify a few of the things you’ll need to change. Some adjustments may be relatively easy. Other changes will require much more effort. Instead of getting overwhelmed by the enormity of the task ahead, take a step back. Can you identify actions or activities requiring little, additional effort?
You may find that it’s not the size of the step you’re taking, rather it’s the cumulative effect of steps consistently taken.
You should routinely perform a law firm SWOT analysis to help you plan for the upcoming quarter and/or year. The below video is an excerpt from a CLE I presented for the Louisville Bar Association in June, 2015.
Use a SWOT Analysis to Define Opportunities
A law firm SWOT analysis gives you the ability to look at your firm strategically. From there, you can develop tactical plans based on your findings. The acronym SWOT stands for Strengths, Weaknesses, Opportunities and Threats. The first 2 are internal. The second 2 are external.
In this video, I provide an overview of key factors you may consider. A law firm can identify ways to use strengths to defend itself against external threats. More importantly, a SWOT analysis provides insights into how you can leverage your firm’s internal strengths to take advantage of external opportunities.
Use SWOT to Develop Individual Performance
Based on a question I received from the audience, I also address how a SWOT analysis relates to managing yourself and your associates.
GE’s Jack Welch had very specific views of how your talent pool should be managed. I began my career at GE and learned some valuable insights in this progressive organization. If you lead a firm or organization, you might find my views helpful.
I share my somewhat controversial view on dealing with the B- and C-level talent, within your own organization. I managed sales teams and organizations a significant part of my career. There’s no silver bullet, but understanding how a personal SWOT analysis can help in the development/performance of your team can provide some direction.
If you’d like to discuss issues related a law firm SWOT analysis to evaluate your firm’s growth and direction, please contact me. My cell is (502) 208-9639. For more information, feel free to SUBSCRIBE to my YouTube channel or Like my business Facebook page.
I submitted this article to the Fayette County Bar Association for an upcoming edition of their Bar News. It’s taken from a segments of a CLE I presented. If you want to grow your law firm, consider using public data for business development. You may be surprised at how useful this information can be when crafting your marketing and advertising strategy.
Attorney advertising in Kentucky has become extremely competitive. A generic, or template, approach may not yield the desired return on your investment. It’s important to take time to assess your local market and determine how and where to target your efforts. There’s an old saying, “If you aim at nothing, you’ll be sure to hit it every time.”
When in comes to effective business development for a law firm, a little effort can go a long way. I hope the following tips and advice will help you to improve your legal marketing strategy.
Using Data to Identify New Markets for Business Development
Have you noticed how many new firms have launched in the past 12 months? Are you noticing outside firms beginning to advertise for clients in your traditional market? Maintaining an optimal caseload and figuring out how to ensure the influx of new clients is becoming more complicated.
I’ve seen firms struggle with this for over a decade. During my CLE presentations and in my various articles, I challenge attorneys to analyze their current client base. Albeit this is much easier if you’re actively tracking your new client intake. Might I make a simple suggestion? It might also be time to track your clients by geography.
Some trends take place over time. We may not always notice them. In fact, significant changes in your market may be occurring without much notice. During my MBA program, several professors emphasized the importance of periodically doing an “environmental scan.” It forces you to step away from assumptions and look at data-driven facts.
There’s an amazing amount of information available to help you deal more effectively with the issue of generating new clients. Here are a few resources you can use. The new insights might just surprise you. Read more →