I once listened to an interview with a chiropractor who had become a multimillionaire.
His preferred method of building his wealth was to go into an area, start his practice, grow it, sell it then repeat the process in another area.
Someone in the audience asked him what his Top 3 ways are to quickly grow a practice. His answer was instructive - he said he didn't know 3 ways.
He knew 100. But that wasn't important.
What was important is that he would take just 1, focus on it, take action and then adjust based on his results.
Along the same lines - here are 16 ways that I've seen law firms grow. I have my personal preferences - but the point is you could take any one of these and gain ground if you focused on actually implementing them.
Create regular, valuable and thought provoking content for your website. Listed first for a reason. By doing this you will get noticed and create attraction from high quality prospects.
Write a niched non-fiction book. Very underutilized because most lawyers are scared off by the amount of perceived work involved. While it’s far from quick or easy - writing a niched, non-fiction (how to) book is not writing War and Peace. And a book easily sets you apart from other firms.
Use PPC (Pay-Per-Click) Marketing. This can be a very effective way to immediatey begin generating leads. But you must know the game and analytics to win.
Begin creating an email list. Mission critical. If you have a list you have a valuable asset.
Create an autoresponder sequence for that list. This is one of the biggest Achilles Heel’s of any firm: lack of follow up. An autoresponder sequence is an excellent way to build trust and relationships over time with prospects who have yet to become clients (or referral sources).
Begin leveraging the #2 search engine (YouTube). Video’s do NOT have to be high end to be effective. Find a good mic and begin recording.
Guest publish anywhere your potential clients may be hanging out. Effective and underutilized because it requires effort. If you reach out to editors in the right way (aka - show them what’s in it for them) your publishing efforts can reach far and wide.
Begin holding educational webinars. You’re an expert. Share your knowledge. These are inexpensive and effective.
Approach local and regional news outlets with content ideas. You’re the expert (seeing a trend here). Reach out (especially to local outlets) with content ideas that can be helpful to them and position you as a go-to resource.
Publish a regular printed newsletter. Yes, electronic is easier (in some ways). But consider printed. When done correctly I have found the ROI to be higher.
Proactively institute a referral system. Every attorney I’ve ever spoken with wants a true referral based firm. However, in most cases, referrals don’t happen. They are proactively encouraged and sought out. Another way to leverage your autoresponder.
Leverage LinkedIn to expand your network. LinkedIn - when used correctly - can be a great tool. I think it’s an excellent place to start building real relationships and a network. But again - do it the right way.
Pursue Joint Venture opportunities. Quick example: do you work with business owners? They often congregate with banks. Consider joint venturing with a bank (small banks are better) and offer a free, short educational seminar focused on a helpful topic. The bank, the business owner and you win. Also low cost for both parties.
Leverage the PR’s (public relations and press releases). Masters at PR learn to ‘create’ news.
Pursue speaking opportunities. Whomever is speaking in the front of the room is the defacto leader and expert. I have found speaking to be very effective but - on a local level - very seldom pursued.
- Add products or service offerings. Listen to the market and adjust by offering new products or services that may fit a need, generate attraction to your firm and grow your profits in the process.