Do you want to break free of the revenue rollercoaster that holds back so many law firms? It’s a challenging task for those of us who are concerned about the quality of care we can provide for our clients and employees—often neglecting many things that would make the business and everyone’s experience with it much better. Here are three categories of KPIs that will help you overcome just that!
In this episode we discussed:
- Restructuring your thinking around different metrics in order to have recurring revenue in your law firm.
- Getting out of that feast or famine mindset by creating a series of funnels.
- Ways of looking at and differentiating leads.
- Cost per lead versus cost of client acquisition.
- Operationalizing and optimizing performance in the area of sales in your law firm.
- How to avoid appointment no-shows.
Allison Williams: [00:00:05] Hi, everybody, it’s Allison Williams here, your host of The Crushing Chaos with Law Firm Mentor podcast. Law Firm Mentor is a business coaching service for solo and small law firm attorneys. We help you to grow your revenues, crush chaos in business and make more money.
Allison Williams: [00:00:29] One of my favorite topics we are going to be talking about law firm KPIs. And for those of you that don’t know what that stands for, it is key performance indicators. Now, this is actually going to be a series, there’s going to be three episodes where we’re going to go into the KPIs that you need to really focus on, in order to achieve and sustain optimal financial success in your law firm. And not only are we going to be talking about the KPIs, but we’re going to be talking about how you can restructure your thinking around these various different metrics in order to consistently and predictably have recurring revenue in your law firm. And that is going to ease out a lot of the road, revenue rollercoaster that a lot of people experience. That becomes really challenging for those of us who are in a state in our business where we are really concerned about the people we, we love our clients, we take care of our clients, we have an affinity for our employees, we want to take care of them as well.
Allison Williams: [00:01:38] And we oftentimes neglect a lot of the things that would make the business of law and the experience of everyone in the law firm a lot better. And that is getting to a place where you’re not in a constant chase for wondering where your dollars and cents are going to come in, right, leavening out, leveling out I should say your anxiety around that. So we’re going to help you to do that. We’re going to be talking about three different categories of KPIs.
Allison Williams: [00:02:05] So the first one this episode, we’re going to be talking about getting the work, that’s really going to focus on marketing and sales. Our next episode is going to be on doing the work, that is going to be about your productivity metrics. And then finally, the third episode in this feature on KPIs is going to be about inviting in more work. That is going to be how we expand to create more work from the work we already have. This is not about marketing per se unless you want to think of it as marketing to your existing client base. Ok, so today again, we’re going to be covering getting the work.
Allison Williams: [00:02:42] So let’s dive in now to getting the work. And the key performance indicators that we really need to talk about for this episode are about marketing and sales. So for any of you that have been listening for any length of time, you know that I talk about funnels and how when you are looking to drive business into your law firm, you need to create a system for generating recurring, repeating, repeating recurring, consistent revenue, right? You want to have the revenue come in, you want to have that revenue on a schedule and you want it to be consistent. So you don’t want to have the revenue rollercoaster where there are some times of the year where it’s a feast. And other times of a year when it is a famine. To get out of that feast or famine mindset, the way that we ultimately are able to do that is by creating a series of funnels i.e. for every type of marketing activity, you’re going to have a different funnel and that marketing activity is going to be on a schedule so that you can start to reasonably predict when in your year, you’re going to have a lot of work from a particular type of funnel and when you’re going to have less work. So that what you can ultimately start to do is in the months when you have less work from certain funnels, you’re going to lean into other funnels. And this is going to require you to really be very analytical about your different types of marketing and where your marketing dollars are coming from and when.
Allison Williams: [00:04:13] Far too often, lawyers will start the process of looking at what’s going on in their law firm from a perspective of saying, I think that I have a slow season during the holidays, right? And by the holidays I’m talking about end of year. And other people will say, you know, I think what I have, what I have down for you, what I, what I see for you is, is not doable for the planned year, right, I can’t achieve what I want for the planned year based on the timing, the constraints, etcetera. But I really want to move from looking at it at that time of year to maybe other times of year. So in other words, trying to think of the best way to saying this, I probably wasn’t the most articulate. A lot of times what lawyers will do is they’ll say, if, if we’re feasting during a certain time of year, we have to save up during our feast to prepare for our famine, right? We have to, we have to think about those times when we’re going to be light on work and then we ultimately have to kind of guard ourselves or prepare ourselves for having less work. And the way I want you to think about preparing yourself for less work is to actually find a way to generate work during those times of the year when you have less work. And the way that we do that is by really getting clear on what we’re producing from each funnel and when. When we get clear on what we’re producing from each of our funnels, it becomes a lot easier to say during this time of the year, and I’m just going to pick a time like, let’s say, during Q2, we have to be really, really going gangbusters on our marketing. And maybe the marketing funnel you choose during that time period is networking so that we can ultimately produce, right, because we have to put some time in and then expect a delay before we get that revenue out. Time in equals revenue out with networking. You know, we have to, we have to plan ahead. And so if Q2 is going to be the time that we’re working it because we have a lot of work coming in from another funnel, then we can actually expect that dollars out will come in Q3 or Q4. Right. So it’s about planning, but it’s about having a consistent number of marketing funnels that will ultimately lead to that work.
Allison Williams: [00:06:32] So we’re going to be talking about what key performance indicators you need to be looking at, in your marketing and sales funnel, right, top of the funnel is marketing, bottom of the funnel is sales so that you can be very clear on when you are driving money into your law firm and through what means.
Allison Williams: [00:06:50] So diving into the KPIs for marketing, first, marketing again, top of the funnel. The first thing we have to ask ourselves is how many impressions that we are going to receive from each marketing activity, right? So for each marketing activity, I want you to conceptualize that you’re going to have a funnel, right? You’re going to have a broad array of people at the very top and you’re going to get fewer and fewer and fewer people as you move down from the top of the funnel at marketing down to the bottom of the funnel ad sales, leading to the number of clients that you have. And so with the very, very top metric that we look at is impressions that is, in essence, eyes on your marketing. And kind of the perfect quintessential example that I use when we talk about impressions is billboards, right? If a billboard is placed right outside your office building and people drive by every human being that drives by your billboard has an opportunity to consume your marketing message.
Allison Williams: [00:07:50] Now, if you think about it from the perspective of a billboard, you can recognize very quickly how meaningless, meaningless the impression number really is because of all those people driving by the billboard. They may or may not need the legal service that you offer, and so you don’t really, truly have an opportunity with all those humans. You have an opportunity with the humans that actually need your service, and that’s the next number down from impressions, which is the number of leads. So for every marketing activity, it’s really important that you understand the number of people who actually need your service that are going to consume your marketing message. Whether that be your funnel of networking, i.e. the number of referral sources that can refer someone that are going to receive your marketing message or your website, perhaps, the number of people that are going to go to your website who actually need your service or it could be your trade show the number of people who are going to pass by your booth at a trade show who actually need your service, right? But a lead is somebody who’s in the market for what you offer.
Allison Williams: [00:08:56] Now, the next KPI that a lot of people neglect tracking because they say, Hey, a lead, is a lead, is a lead, are your viable leads. So your viable leads are people that not just need your service, right, they need you, but these are the people that you are inclined to serve. So I use the example of someone who is calling a criminal defense law firm and saying, Hey, I’m accused of murder and I have trial. Can you help me? That person is a lead. That person needs the service that you offer. However, if they go to trial on Monday and they’re calling you on Friday, they’re probably not a viable lead. Because even though they need your service, you are not inclined to give them service based on the compressed time period. Or also another way of looking at leads versus viable leads could be jurisdiction, right? If you are, if you only serve people in the state of California and someone from the state of Arizona calls your law firm and says, Hey, I saw your website, it looks phenomenal. You are exactly who I’m looking for, can you help me? As much as you want to help that person? And as much as that person may need the exact service that you offer, they’re not viable because you can’t represent them. You don’t have the authority to represent them in their jurisdiction. So we have to think about, again, impressions, eyes on marketing, leads, people who need the service, and viable leads people to whom we’re willing to offer our service. And those are the most critical metrics that we look at when we’re evaluating how much volume of opportunity we are generating through each funnel right volume of opportunities, which I what I want you to think about here.
Allison Williams: [00:10:43] Now, the volume is one thing. Obviously, we want to get as much volume as possible from each of our marketing funnels. But the next most critical piece of the volume that we have to evaluate is the cost to generate that volume. Right? So the next most critical metric, the next KPI that you really have to understand when you are talking marketing funnels is your cost per lead. And even though most marketing providers, whether you’re talking about digital marketing or print medium or radio advertisement or any other form of media, typically when someone sells you media, they’re going to at some point talk about cost per lead. But what they’re really talking about is cost for viable lead. Right? Because you don’t want to have a glut of people who theoretically are in the market for your service, but you can’t serve them for whatever reason. So a good example might be if you’re, if you’re in a very long state, like if you’re in the state of Florida and you’re located in Tallahassee, in the capital and you are getting people to call your law firm from Miami, in theory, you could represent someone in Miami. That’s a hell of a drive to get to court. But in theory, you could actually represent them. But most likely, you’re not inclined to, right? You’re probably not going to get in the car and go on a 12-hour drive to get down to your client or have your client get up to you.
Allison Williams: [00:12:09] Now with the, the shifting in the marketplace that we’ve had around being able to deliver services virtually. More and more, we are seeing that people in one state are servicing clients all over the state because now you can meet with your client by Zoom. In theory, you don’t have but so many in-person appearances. And perhaps to get the work, you might be willing to cut a break on some of the more extensive travel. Or maybe not. Maybe just your reputation is so great the clients willing to pay for it. But either way, most people might have a geographic limit on where they’re willing to serve. So you have to think about that.
Allison Williams: [00:12:51] Now the cost per lead or cost per viable lead. It’s something that you have to consider because when you are creating a well-orchestrated marketing plan, you don’t want to have all of your ducks in one basket, ducks in a basket. Oh God, it’s been a long day. You don’t want to have all your ducks in a barrel, right? You don’t want to have all your, all of your eggs in one basket. There we go. There is the cliché that I just couldn’t get my mind wrapped around right. You don’t want to put all your opportunity in one place. You want to have multiple marketing funnels. And even if you have one funnel that is overwhelmingly outperforming the others, you do want to create diversification in your marketing. So you want to have a multitude of funnels and you want to optimize the others as best you can. You don’t want to just say, Hey, funnel number three is the one that’s knocking it out of the park. So we’ll put all my time, all my money there, because as we know things change, things change very rapidly. And the less diversification you have, the more risk you have that that one funnel will stop performing and then your business is at great risk.
Allison Williams: [00:14:00] So when you think about the cost per viable lead, I want you to think about how much it’s going to ultimately take you to acquire a client now the cost per lead is not the same as the cost of client acquisition. Ok, that’s another very important KPI. Your cost per lead is how much it takes you to generate the opportunity to sell to that one person, not the impression, but the actual person who needs your service, right? So it might take you. I’m going to use digital marketing because it’s probably the easiest to translate this concept into something concrete that most people can understand. If I am paying a marketing company to generate a lead and someone is going to click on an ad that is placed on the internet and ultimately be redirected to a landing page or my web site that cost per click the cost for me to get the person to click on the ad is a metric. And then the cost for generating the lead would be all of the costs associated with that actual lead coming into the business. So it could be that out of a certain number of clicks, a certain percentage of those people will be leads, and then of those leads, a certain percentage will take some action. Right. So if ultimately one hundred people click on my ad to get me 30 people that are going to call my law firm and thus 30 leads, right, there’s a 30 percent connection rate. I want to say there’s the 70 percent attrition rate is really what I’m thinking. But whether you think about it is I got 30 percent or I lost 70 percent. You’re only getting a certain percentage out of the total spend that you dedicate to to acquiring those leads, right? So if you decided to spend $5000 in a given month to acquire those 30 leads, then you can do the math on that right. You can say my lead cost is five thousand divided by 30, right, for every person that called, it took me a total of $5000 to get to that magic number of thirty.
Allison Williams: [00:15:57] The cost for client acquisition, however, would include the cost to actually get the person to sign up. So you’re going to have a lot of costs beyond your cost per lead to ultimately get your client to hire you. So you have first the, the cost of the marketing, that $5000 that you put out to get those 30 leads. But then you have to consider and continue doing the math to say 30 people called the law firm. Let’s say 20 of those people scheduled an appointment and let’s say 10 of those people became clients. Now, those percentages are based on your conversion rates and your scheduling rates, and all of those other sorts of things that we’re going to talk about next when we go further down the funnel. But ultimately, when you get to the end, you had to spend a certain amount of money. You spent $5000 to get 10 clients. So you can see there that ultimately that cost per client acquisition is going to be higher than your cost per lead, right? So you’re going to spend a certain amount to get a certain number of people to the law firm. And then you’re going to spend even more per person who actually converts to a client because you’re not going to convert every single lead into a paying client. Ok. I hope that that conceptually makes sense. It’s a little challenging to convert that into common sense or usable data on audio versus video.
Allison Williams: [00:17:18] By the way, part of the reason why I’m going through this now is that we are going to at some point in time, convert this into a webinar. We are going to deliver this content with a visual so you have the graphic in front of you. And for those of you that didn’t already attend our Seven Strategies to Rapid Growth in 2022 and beyond in your law firm, we are going to be delivering that webinar as a live encore again in the next few weeks, so stay tuned. The registration information for that is going to be in the podcast episodes, and of course, you can always find information about that on our website.
Allison Williams: [00:17:52] Ok, so we’ve talked about the first half of the KPIs you need to be considering the marketing KPIs, but in your marketing funnel, the lower half of the funnel is dedicated to sales. And so now I want to talk a little bit about the KPIs that you’re going to need in order to optimize your sales. But first, we’re going to take a quick break, and when we get back, we’re going to go into the KPIs for sales.
Allison Williams: [00:18:22] Sales, they’re critical to your business, but many lawyers I know hate sales. Does this sound familiar? Your book console give free legal advice, but then your potential client fails to close. This happens because you haven’t learned how to effectively sell legal services. Once you’ve learned the Law Firm Mentor approach to Legal Sales, your potential is endless.
Jessica Arndt and Ali Sutak: [00:18:42] Hi, I’m Jessica Arndt and I’m Ali Sutak, and we are the co-owners of Arndt and Sutak, located in East Brunswick, New Jersey. We needed to learn how to run a business, how to grow a business, how to become business owners, as opposed to just lawyers. It’s very difficult to be both, but I’m glad that I have this program because it’s showing me how to do that.
Allison Williams: [00:19:00] If you’re ready to transform into a sales powerhouse, I invite you to sign up for our online course, Legal Sales for Lawyers and Non-Lawyers. Text SALES to nine oh eight two nine two three five two four. Once again, that’s nine oh eight two nine two three five two four to get pricing information and to start leveraging the power of psychology to connect with and attract new clients.
Allison Williams: [00:19:30] Ok, we’re back, and now we’re going to be talking about the KPIs that are going to be of great import to you in operationalizing and optimizing performance in the area of sales in your law firm. So the first number that’s really important, the first metric to be tracking is the calls that you receive to your intake department, OK? Now, these are not all leads. Presumably, you want to get to a place where every person that gets over to your intake department is a lead. But that’s probably not where most of us are. And it may be never a place where you land. Because there are going to be people that call your law firm that they need a service that you don’t offer, right? I own a family law firm in lovely New Jersey, and periodically we will get calls for people who want to who need help with getting their mother out of a certain nursing home. They’ll say, You know, my, my brother has power of attorney, and he’s put mom in a nursing home that I don’t think is taking good care of her.
Allison Williams: [00:20:29] Well, I asked them, or I have my team ask, Well, why exactly did you call us for this? And they’ll say, Well, you’re a family law firm and mom is my family. Right? So technically, that’s true. But we don’t help any and all people with any and all issues related to their family. We help with a very specific subset of domestic relations law, so that person’s not truly a lead, but they got to our intake department, right? Typically, that person will call our law firm and say, Hi, you know, I was referred to your law firm by so-and-so or Hi! I looked you guys up online and I really need help with an issue with my mom. And then they get over to the intake department before screening happens, and we actually learn that’s not exactly what we do here, but you need to be tracking the calls total that come into your law firm so that you can start to make some predictive models around how many of those opportunities are truly available to you. And that’s where, by the way, it gets really fun because you start playing with the levers of how many of those people that are calling are going to get scheduled and how many of those scheduled appointments are going to show up, and how many of those show, show up appointments are going to become clients, right? So the more people that call, the more opportunities you actually have to get to paying clients.
Allison Williams: [00:21:48] Ok. And by the way, I just rattled off a whole bunch of the KPIs that we’re going to be talking about next. Ok, so after we get the number of total calls, the next thing you want to be looking at is the number of scheduled appointments, OK? This is typically referred to as your scheduling rate. Now there are a lot of things that you can do to drive up your scheduling rate that include things such as modifying your script to ask better for better, more powerful conversations or instigate more powerful conversations online. And you can also kind of work with what is said in response to objections. So if you learn things such as how to have powerful sales conversations on the phone or otherwise, you can start to move people that would otherwise be inclined to say, No, I don’t think I want to have a conversation about that. You can start to move those people in the direction of getting to yes, right. And that doesn’t require more income, more revenue, or more lead generation that actually requires a different and more skilled conversation on the phone. But if you’re not tracking the rate, the percentage of people that schedule appointments relative to the opportunities that you have won, you’re not aware of how much opportunity is left on the table. But two, you’re also not able to drive the behavior of your intake professional so that he or she is better able to convert people and thus generates more money for your law firm.
Allison Williams: [00:23:21] And one of the things that we’re ultimately going to talk about in our next episode when we get to labor efficiency rate, and that’s really talking about how productive people are for the amount of compensation they receive. If you don’t track numbers like how much a person is able to generate, how much revenue they can generate from the labor that they put in, it becomes really challenging to know whether or not someone is over or under-compensated. And to know whether or not you ultimately have bandwidth for another person or for optimizing the performance of the person that you have, right? Because if you’re not tracking how they’re doing, you can’t ultimately say you should be doing better or it’s worth our investment in a certain form of training or time to get you to better, right?
Allison Williams: [00:24:09] OK, next KPI we want to look at in the sales metrics are the percentage of people that show up for their appointments. Now, this is kind of simple, right? When you start looking at appointments, a lot of people would think, Hey, if somebody schedule an appointment, they obviously needed help. Why would they not show up?
Allison Williams: [00:24:26] Well, people fail to show up for a lot of reasons. Sometimes it’s about how comfortable they are with the person on the phone. Sometimes it’s about the fact that they paid or did not pay for the consult. Ding, ding ding. By the way, if you are giving away free consultations, I urge you to stop. I know that there are a couple of practice areas where you are by statute, required to, or by industry, you feel compelled to. However, you tend to get a much higher show-up rate on people that are paying to actually come to the Consult. OK? But if you are experiencing a problem and you’re still inclined to not charge people for your consult, at the very least charge them a fee to show up and tell them they’ll get it back when they come, because that can ultimately increase the number of people that are inclined to show up, if for no other reason than they want to make sure that they get their money back.
Allison Williams: [00:25:20] Now, the next KPI that we’re looking at that’s really important for sales is the number of new client matters. Ok, pretty simple there. We want to know how many clients we’re bringing in. And from those clients that are coming in, we want to know what was our opportunity. Right. So if 10 people are scheduled in the course of a month and we get five clients out of that, we have what’s referred to as a 50 percent conversion rate, right? Your conversion rate is the rate at which you convert prospects into paying clients.
Allison Williams: [00:25:50] And if you get your prospects into paying clients at a certain rate and you simply change the conversation that you are having with them and you’re able to get more people. So instead of 5 people out of 10, you get 6 people out of 10. Well, that tends to add up over time, right? Because one client could be $5000, could be $10000, could be $20000 depending on the service that you have. And when you start looking at how you are ultimately able to improve and expand what is available to you in terms of revenue through your clients, it becomes really important that the people who are boots on the ground having those sales conversations are always driven to improve the quality of those conversations so that more people become clients.
Allison Williams: [00:26:39] All right, now, once we have tracked the number of new client matters, we have to understand the money associated with those new clients. So the next two KPIs we’re going to be talking about go hand in hand, right? So we want to know the average retainer upfront. And we also want to know the average case value. And those may or may not be the same depending on how you structure your practice. So if you’re a lawyer that takes a retainer and bills hourly, you may only charge a portion of the expected fees for the case at the time you signed someone up, right? So you never know with certain types of cases if they’re going to settle very quickly and become a $5000 case, or they’re going to balloon out of control and become a fifty thousand to one hundred thousand case. So if you’re billing hourly, you would charge them a fee of what most people would calculate as some percentage of hours or some phase of case to get them started. But you don’t expect that that’s going to be the entirety of what you charge them. For other case value, the next most important metric is the average case value. That means for the entirety of a matter, every time I bring in someone, I expect that they’re going to pay me a total of x dollars over some period of time.
Allison Williams: [00:27:55] Now we look at the average case value because we know that from person to person, circumstances will deviate how much you’re actually going to receive from a case. So there could be a situation where you’re working on a case and then ultimately a client decides midstream not to go forward. Or you could be in the midst of a case and recognize that a client has decided that they want to hire another lawyer. Or it could be that the matter resolves itself much faster than you’ve ever expected based on some late, in fact, that either you were not aware of or the client didn’t share with you or what have you.
Allison Williams: [00:28:31] Sometimes your average case value is going to be reduced by things like your collection rate, maybe a client runs out of money, does not have the wherewithal or the intention to satisfy the balance that’s owed at the end of the case, and you haven’t gotten one hundred percent of your fee could be 80 percent could be 90 percent. And then there’s always those people that will still owe you money and then go out and file for bankruptcy. So obviously, there are lots of different ways that we can mitigate the risk of nonpayment. But if nothing else, you need to know what the average is right now that you are collecting on your files. And you need to know that for each type of case. So in other words, if you handle probate and landlord-tenant cases and divorce and criminal defense in one law firm, you don’t want to add up all of the revenue over the number of cases that you have and then divide that by the total number of cases that you handled over over a defined period and say up. My average case value is X because you could have great variability between your criminal defense practice and your landlord-tenant practice.
Allison Williams: [00:29:36] You also, even if you are just a specialist in one area, you are just a family law attorney or you are just a personal injury attorney or you are just a, a civil litigator. You don’t want to take the sum total of all your cases there, either, because there could be great variability in the types of cases that you’re bringing in, right? If you’re a personal injury attorney, your slip and fall case could be very different than your dog bite case, could be very different than your medical malpractise case. So you want to start looking at the average case value on each of your types of cases because when you are looking at your marketing funnel. OK, we just went through your entirety of your marketing and sales funnel, from impressions all the way down to new clients right from top to bottom. When you are looking at the economics of every given funnel, what you want to be very cognizant of is not just the return on your marketing dollars, right? Not just the return on your marketing investment, but you also want to be cognizant of the time investment that you’re going to put into each marketing funnel so that, you know, OK for every hour that I could be billing. If you are the lawyer who owns and bills, right, for every hour, I could be billing if I put those hours into marketing activity, my economic rate of return on the investment of my time is a certain amount. And typically, when you start a law firm and you are the only principal owner, or even if you’re in a partnership, could be even a three or four-way partnership. Right.
Allison Williams: [00:31:10] The partners or the partner, depending on how your firm is structured, are going to have a certain expectation for generating clients. And if you don’t realistically assess what your time investment into a funnel is going to produce, there can be and often is an instinct to say the greatest way for me to keep us afloat as a law, as a law firm owner is to go build more hours. And you think one hour billed is one hour that I can credit to my trust account and get dollars and cents out. But the challenge then becomes you’re putting in an hour to get three hundred, or four hundred, or five hundred dollars per hour out of your trust account. But had you put that time into your marketing plan, you would have been able to generate more dollars with that same amount of time. So even though you don’t get the dollars right now, right, you don’t immediately produce the dollars because you’re not billing your networking or your marketing dollars against a trust account, you’re putting in the time with an expected return sometime in the future.
Allison Williams: [00:32:15] You do have to be intelligent to balance cash, getting strategies, right, getting it right now, getting the work right now, getting those dollars and cents right now against actually generating dollars in the future, because so often we focus too much on getting the dollars right now and then the future never happens, right? The future never comes because we don’t put the time into the marketing funnel and thus the time didn’t go in. So the dollars don’t come out, right? So that is typically where that feast or famine comes from, right? We start to desperately see our bank accounts dwindling and we say, Oh my God, I got a rush, rush, rush, rush, rush to get myself into the strategy and in the energy of producing clients. And then you start getting some clients in through your marketing again and you’re like, Oh, I can breathe. So you start serving those clients and you start focusing on the present and then, Oh my God, dollars and cents are going down. I’m settling a lot of cases. I’m getting a lot of judgments. And now all of a sudden, it’s time for me to rush, rush, rush, rush, rush, rush, get more clients, then right? And you’re on that roller coaster over and over again. And the way that you get off the revenue roller coaster is by getting the work consistently, by leveling out your funnels, right? So you need to have some immediate work activity in order to get paid. And also, of course, to serve your clients to make sure you keep your ethics at par. But then you also want to be planning for the future, and planning for the future does require today’s efforts to produce tomorrow’s results.
Allison Williams: [00:33:47] All right, everyone, I’m Allison Williams, your Law Firm Mentor. We have been talking about law firm KPIs and in particular, getting the work and remember, this is a part of a series. Our next episode, we’re going to continue the discussion of law firm KPIs, and we’re going to be talking about doing the work. This is the productivity metrics of you and your people when you are actually doing legal work in the law firm. All right, I’ll check you out and hope to hear from you and see you in our next episode.
Allison Williams: [00:34:24] Thank you for tuning in to The Crushing Chaos with Law Firm Mentor podcast to learn more about today’s show and take advantage of the resources mentioned. Check out our show notes. And if you enjoy today’s episode, take a moment to follow the podcast wherever you get your podcasts and leave us a rating and review. This helps us to reach even more law firm owners from around the country who want to crush chaos in business and make more money. I’m Allison Williams your Law Firm Mentor, everyone. Have a great day!
Allison C. Williams, Esq., is the Founder and Owner of the Williams Law Group, LLC, with offices in Short Hills and Freehold, New Jersey. She is a Fellow of the American Academy of Matrimonial Lawyers, is Certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney, and is the first attorney in New Jersey to become Board-Certified by the National Board of Trial Advocacy in the field of Family Law.
Ms. Williams is an accomplished businesswoman. In 2017, the Williams Law Group won the LawFirm500 award, ranking 14th of the fastest-growing law firms in the nation, as Ms. Williams grew the firm 581% in three years. Ms. Williams won the Silver Stevie Award for Female Entrepreneur of the Year in 2017. In 2018, Ms. Williams was voted as NJBIZ’s Top 50 Women in Business and was designated one of the Top 25 Leading Women Entrepreneurs and Business Owners. In 2019, Ms. Williams won the Seminole 100 Award for founding one of the fastest-growing companies among graduates of Florida State University.
In 2018, Ms. Williams created Law Firm Mentor, a business coaching service for lawyers. She helps solo and small law firm attorneys grow their business revenues, crush chaos in business and make more money. Through multi-day intensive business retreats, group and one-to-one coaching, and strategic planning sessions, Ms. Williams advises lawyers on all aspects of creating, sustaining, and scaling a law firm business – and specifically, she teaches them the core foundational principles of marketing, sales, personnel management, communications, and money management in law firms.
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My Favorite Excerpt From The Episode:
TIME: 00:24:26 (33 Seconds)
Well, people fail to show up for a lot of reasons. Sometimes it’s about how comfortable they are with the person on the phone. Sometimes it’s about the fact that they paid or did not pay for the consult. Ding, ding ding. By the way, if you are giving away free consultations, I urge you to stop. I know that there are a couple of practice areas where you are by statute, required to, or by industry, you feel compelled to. However, you tend to get a much higher show-up rate on people that are paying to actually come to the Consult.