The Rainmaker Blog : Law Firm Marketing and Business Development : The Rainmaker Institute : Stephen Fairley : Professional Legal Marketing

• Email This
• Print
• Trackbacks
• Share Link

Forget Fame
There are a number of people out there who are selling fame – “buy my product or service and I’ll make you famous.”

Here are some sage words of advice:  Forget fame.  Become wealthy and fame will follow.  Fame is fleeting.  Who cares if you are “famous?”  The only thing that does is play to your ego.  I prefer to play to my pocketbook!  Use proven marketing strategies that work.  Transform your law firm from a practice into a real business

Automate, delegate or outsource every part of your business that you can.  Build a core team of people who support you and run your business for you.  Develop a wealth creation system.  The fame will follow.

Eliminate the Obstacles

What is blocking you from achieving the financial success you know you should have?

• A partnership gone bad?
• A partner who is distracted and depressed?
•  No passion for your clientele?Lack of automated systems to run your marketing?
• A poorly performing staff member?
• Not returning phone calls promptly?
• An incompetent associate?
• No system for following up with leads and prospects?

Now is the time to get rid of the dead weight! It’s easy to overlook people’s faults when times are good, but they are accentuated when times are tough.  I believe in taking personal responsibility and not blaming others for your lack of success, but take a few minutes and ask yourself “Who is the weakest link?” 

When you identify that person, remove them.  While you are at it, make every attorney and staff member commit to returning every single phone call and email within 24 hours.  I’m convinced benign neglect of prospects, clients and referral sources is a major obstacle to many a lawyer’s success

Know Your Operating Cash Flow Ratio

Here’s a simple exercise:  take the Total Revenues you have generated in the last three months.  Divide it by your Total Expenses during the same period.  The result is your Operating Cash Flow Ratio.  For example, if your Total Revenues were $300,000 and your Total Expenses were $250,000, your Operating Cash Flow Ratio is 1.2.  If that number is less than 1, you have a major cash flow problem and you need to reduce your expenses fast or face going out of business!
 

***********************************************************************************************************
Want to take the Rainmaker System home with you?

Then order the Rainmaker in a Box 5-DVD set!

Some of the information and strategies you will learn include:

• The 5 Immutable Secrets to Building a 7 Figure Law Practice
• Secrets of Building a Referral-based Law Practice for Busy Practitioners
• The Top 6 Most Powerful Online Marketing Strategies for Attorneys
• Action, Accountability and Next Steps

This program also includes a data DVD which includes all 4 PowerPoint slides for all 4 presentations. We recommend you print all these off and take notes on them as you watch the 4 intense DVDs.

To order this information-packed set click here.