All of the highly successful lawyers I know have one thing in common: they take the time to plan for the future of their law practice. They don’t just let things happen, they make things happen. They guide the destiny of their business with a firm hand and an eye on the future.
Would I be able to say the same things about you?
If you’re stuck in a rut of the same old/same old, with little or no growth to show for your hard work, then you need some focus. Here are five goals you need to apply some focus to if you are to build the law practice of your dreams:
Financial Goals – Don’t just focus on the money; focus on how you will get there. If your average client spends $5,000 with you, you will need 100 clients to make $500,000 this year. That works out to about 2 new clients per week. Unless you want a high volume law practice, you will need to develop a way to up-sell new clients into higher-end services.
Practice Area Goals — How many new estate plans do you want to do in the next 90 days? How many new trials are you willing to take on this year? How many divorces can you handle? If you practice in more than one area, you need to plot specific goals for each practice area.
Marketing Goals – All the top law firms recognize the importance of marketing and business development. You need to set measurable marketing goals. “I will meet with 4 new referral sources every month.” How are you going to meet them? Who is going to set those meetings up? Who will do the follow up?
Strategic Business Goals— This is where you start to think big about your law practice. Challenge yourself: how can you come up with another $100,000 this year? How can you go from your current five or six referral sources to 20 or 30 in the next six months?
Personal Goals – Perhaps you need to schedule a vacation for yourself every quarter. Maybe you have an idea for a new business venture. What place does your family, friends or significant other hold in your life?
What gets planned gets done. One of the best ways to plan for the future of your firm and to learn the strategies you need to implement to meet your goals is by attending one of our Rainmaker Retreats. Here are the dates for upcoming sessions:
- June 9-10, 2017 — Chicago, IL/Hyatt Regency Schaumburg Chicago
- July 14-14, 2017 — Ft. Lauderdale, FL/The Ritz Carlton
- August 18-19, 2017 — Las Vegas, NV/Four Seasons Hotel Las Vegas
Book early and save 30% off the registration fee — only $697 for two days that will transform your law firm! Visit rainmakerretreat.com for more info.