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What's holding you back avvo-webinar-by- joan- bullock

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  • 1. What’s Holding YouBack?Preparing for the Growth of YourPracticeJoan R. M. BullockAssociate Dean for Teaching and FacultyDevelopmentProfessor of LawFlorida A&M University College of LawOrlando, FLTHE REFORMED LAW PROFSMjoan@thesageevolution.com
  • 2. Legal Profession in Turmoil Decline in requests for legal services Decline in work from current clients Decline in amount of collections
  • 3. Result? Reduced Cash FlowNO Cash = DEATH to your business LOW Cash= Slow death
  • 4. ChallengesThe world is divided into lawyers andnonlawyers.We lawyers control access to legal knowledgeand the tools of the trade.We don’t compete for clients; we obtain themwith our pedigree and through word-of-mouthOur work is time honored and valuable. Anyfocus on efficiency or price reduction detractsfrom the value of the services we provide.
  • 5. RealityLawyers DO NOT have a monopoly on theprovision of legal services Legal knowledge no longer only within the domain of the legal professional Legal tools accessible to the publicClients are less willing to pay the high feeslawyers charge
  • 6. Business MindsetLawyer as a Business Owner
  • 7. Me?Image courtesy of nokhoog_buchachon/ FreeDigitalPhotos.net
  • 8. What is the Business Mindset? Image courtesy of smarnad/ FreeDigitalPhotos.net
  • 9. Work “on” not “in” Image courtesy of Ambro/ FreeDigitalPhotos.net
  • 10. Strategic Business Owner Image courtesy of Vichaya Kiatying-Angsulee./ FreeDigitalPhotos.net
  • 11. Ideal ClientPeople who are forward looking and have a goalin mind;People who have the financial, mental, andemotional wherewithal to execute their plan,accomplish their goals, and fulfill their vision.Michelle Donovan, The Referability Expert andco-author of THE 29% SOLUTION: 52 WEEKLYNETWORKING SUCCESS STRATEGIES.http://www.thereferabilityexpert.blogspot.com/
  • 12. What is Your Ideal Client Looking For?Client’s QuestionAnswerYOU have the solution to their problem
  • 13. Research Prospective ClientThey are looking for _____”X”_______, so thatthey can have/do/make….Means can be fungible; solutions are unique
  • 14. Finding Your Ideal Client Image courtesy of jscreationzs/ FreeDigitalPhotos.net
  • 15. Where to Find Ideal Client Places of Worship Country Clubs Civic organizations and events Industry-specific associations
  • 16. Who Can Help You Find Your Ideal Client?Financial plannersCPAsAttorneys – business and transactionalBankersMedical doctorsVendors to businesses
  • 17. Mindset RecapTechnician Business Owner Focus on what you Focus on client’s alone provide wants/needs Estate plan Be the go-to person Wills Put yourself in position to discern Tax returns opportunities for Tax planning business Focus on pedigree, development certification
  • 18. Planning for GrowthOrganization Systems Management Benchmarks Productivity ProfitabilityCash Flow
  • 19. Your Network SystemPersonal networkReferral network People who need your services People who know of others who need your services People who can assist you and complement your servicesTactical networkPersonal Network
  • 20. Questions? Joan R. M. Bullock THE REFORMED LAW PROFjoan@thesageevolution.com

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