Estate Planning & Elder Law Firm Financials Made Easy

Have you ever been told that if you want to earn six or seven figures from your law firm that you need to dive into your financials, run the critical metrics, tie those into your KPIs (key performance indicators) … and do that every week?

Let me save you some hard work and aggravation.

Estate planning law firm financials
You don’t have to live in Spreadsheet Hell to take your estate planning or elder law firm to seven figures or more.

About five years ago, I committed to scaling up our business and I tried those exact strategies. I spent 16-hour days … 70-hour weeks … grueling months … poring over the financials: defining, tracking, and analyzing the firm’s critical metrics in relation to dozens of KPIs.

Because I lacked confidence in my own ability to grow the company, I listened to the self-proclaimed “experts.”

I believed it when they said that knowing and monitoring all these numbers would catapult my company to multiple seven figure revenue.

But what really happened?

Well, for starters … we didn’t grow.

I was exhausted, stressed and overwhelmed. I lost the joy I’d had in building the company and serving clients. I was disconnected from my team and our clients because I was so engrossed in the numbers.

I even started to hate going to work … my work, my company, the job I created out of love and passion had been reduced to spreadsheets filled with numbers that stubbornly refused to change.

And no matter how many numbers I tracked or how hard I looked at them … they just didn’t budge.

We were stuck.

I felt like I’d hit a glass ceiling and no matter how much time I spent in Spreadsheet Hell, we just couldn’t break through.

Then I asked myself ONE question – what would happen if I stopped torturing myself with all those numbers … and started doing what I do best instead?

I hired an accountant to track the essential financials and give me regular updates. (Oh happy day!)

Then, I got really clear on who I wanted us to be when we grew up – what we valued at our core, how we best served our clients, and my vision for our inspired future.

We love our clients. In fact, you probably will, too. Check out our Gallery of Rock Stars.

And what about all those numbers?

I made ONE change in my mindset:

Instead of focusing on meeting expenses, I focused on meeting our profits.   

It’s simple enough. You get what you focus on. When I focused on expenses, I was able to meet them. But that’s all.

I discovered that when you shift your focus to passion and profitability, your business will automatically show you the path to growth. You figure out what fuels your passion, make that profitable, and dump everything else. That’s law firm financials made easy.

And, within two years I blew through that glass ceiling and left it shattered on the ground! I released irksome clients and committed to ONLY work with clients who truly need, value and appreciate us.

And I rediscovered once-lost joy in my job … following my passion and working toward an inspired vision of the future.

If you want to grow your estate planning or elder law practice to be both more profitable and enjoyable and you want to do it without ever losing your joy, your purpose or your passion for clients, then here’s what I have for you.

Watch my newest training and schedule a strategy call with us. In the training you’ll learn the exact steps our clients take to achieve their financial goals and a law practice they love.

When you’re ready to transform your practice to achieve your own inspired vision, give us a call. We’ll help you get total clarity on where you are now, what success looks like for you, and the steps that will get you there fast, without spending another moment in Spreadsheet Hell.

Grow Your Estate Planning Practice with Integrity

I’m going to be brutally honest for a second.

Right now, there are thousands of estate planning and elder law attorneys trying to achieve a seven-figure law practice and a lifestyle that doesn’t leave them frustrated, stressed and burned out.

  • They’re taking financial advisors to lunch six times a week …
  • They’re running newspaper ads and mailing out invitations for their weekly workshops and seminars …
  • They’re even meticulously tracking every “touch” with their referral sources, living in spreadsheet hell trying to get new business by remembering birthdays, hobbies, and the names of every spouse and child for dozens of financial advisors, CPAs and insurance professionals.

And despite all of that, most of them aren’t even close to profitability … much less financial freedom and a lifestyle they love.

If you’ve been following me for a while, then you know that the strategies I mentioned above – pandering to referral sources and hosting seminars and workshops – are absolute garbage, in my opinion.

If you want to have a law firm you love, financial security and time to enjoy life, you’ll never get there in a million years if you do those things. Following those strategies is like your client who says they want a will to avoid probate … just like a will is your ticket to probate, referral and seminar marketing strategies are your tickets to stress, frustration and burnout.

Take Control to Grow Your Estate Planning Practice

But is that the REAL reason estate and elder lawyers are struggling?

No.

The real reason is that most of them lack a reliable, independent source of qualified prospects.

When business slows down, they start calling on CPAs, financial planners and insurance salesmen.

When seminar attendance drops, they buy more newspaper ads, a bigger mailing list and mail more invitations.

And when revenue sinks, they panic.

…and when that happens … they drop their fees, take on clients who aren’t a good fit for them, and cut back on staff.

Let’s be honest – have you ever done this?

If you have, don’t sweat it. Nobody’s perfect.

But now that you know what happens when you don’t have a reliable, independent source of qualified prospects I believe you owe it to yourself to start growing one, and make that the #1 priority in your estate planning or elder law firm.

What if I told you there were a way you could grow your practice, your freedom and your financial security … without ever hosting another retail seminar or relying on the kindness of strangers to send you new business?

What if there were a way you could consistently attract the exact clients you most want to serve, charge premium fees and maintain total control over your finances, your time and your lifestyle?

Obviously, that’d be really different than what everyone else is doing, right?

Just by displaying a little self-reliance, you set yourself up for financial freedom and the time to enjoy it.

Kyle and I have been where you are. You can read Kyle’s story on our website.

If you want to grow your estate planning practice to be both more profitable and enjoyable and you want to do it without ever compromising your professional freedom or personal life then here’s what I have for you.

Watch my newest training and schedule a strategy call with us. In the training you’ll learn the exact steps our clients take to achieve professional independence and financial security in a law firm they love. Then give us a call. We’ll work with you to get total clarity on where you are now, what success looks like for you, and the steps that will get you there fast, without ever buying lunch for anyone.

How I Gained 20 Lbs Chasing No-Win Referrals

Have you been told that to market your estate planning law firm, you should take someone to lunch five days a week and twice on Tuesdays?

Costs for estate planning marketing add up when you're taking referral sources to lunch six days a week!
Have you been told to take someone to lunch five days a week and twice on Tuesdays? Let me save you some time, money and dignity!

I can save you some aggravation, restore your dignity and help you avoid a fried chicken heart attack.

About 15 years ago, we tried that exact same strategy in Kyle’s law firm. We hustled financial planners, investment advisers, insurance professionals and accountants for new business. We took candy to their offices during the holidays and we interrupted our work days taking them to lunches, breakfasts and coffees.

See, we believed the guys who told us that estate planning marketing was all about meeting with financial advisors, CPAs and insurance professionals. That if we could just find synergy at these meetings, they would become our revenue Holy Grail … sending us an ever-growing stream of pre-qualified and pre-sold referrals. We would never have to worry about marketing again.

I mean, that is what they tell you, right?

But what really happened?

We spent a lot of time and money on those lunches. And we both gained about 20 lbs. We also got a lot of financial professionals calling Kyle for free advice, asking him to pick up half (or more) of the bill for their seminar marketing, and demanding a tit-for-tat referral reciprocity that Kyle simply could not give them.

We even got some business out of it. But it did not last because those referral sources were always looking for a better deal. Some of them wanted to control the relationship, dictate the legal strategy, or low-ball the fees. And at the end of day, they could always find a younger, less experienced, hungrier lawyer to take care of their clients for less.

It was a never-ending struggle to find and cultivate new referral relationships.

It was expensive. And it ate up all of our time. And made us feel terrible.

Kyle did not go to law school to live like that; to let someone else control his career, his clients, and even his financial security.

Then we asked ourselves one question: What would happen if Kyle stopped pandering to financial advisors and used digital marketing to reach new clients directly, clients who wanted to work with him and who value a personal attorney relationship?

First, we changed our mindset and committed to take extreme ownership for our own success. Then, we learned everything we could about attracting clients online so we could focus on what actually works without wasting time and money. Finally, we re-designed the entire client experience — retooling client intake and adopting a sales process that feels better and more authentic for Kyle, and meets the needs and expectations of his new clients.

And, he stopped hustling for new referral relationships. Kyle was able to keep his best referral relationships and give them — and their clients — even better service. New clients who find him on the internet are motivated and ready to take action. They love working with Kyle (click here to see his nearly 300 five-star reviews on Avvo) and his premium fees are now in line with the premium service and client experience he delivers.

Read Kyle’s story on our website.

If you want to learn more about how to REALLY change your outcome in 2019, join me for a 45-minute webinar where I reveal the exact five-step strategy that we use with clients to finally break free from the tyranny of referral and seminar marketing.

Watch now. And when you are ready, book a call to see whether we can help you, too.

The Untold Story of the Fastest Growing Estate Planning Law Firms

This guy on Facebook keeps bragging about his clients who have the “fastest growing law firms” in America. Everything he writes is about how this or that small law firm is growing 60 percent or 100 percent … or more.

When marketing an estate planning law firm, growing too fast can be deadly.
Growing too fast can be deadly for an estate planning or elder law firm.

But here’s what he fails to mention: That kind of rapid growth comes at a cost.

Top line sales growth is deceptive. More sales means more cost. Without marketing and sales systems in place to scale efficiently and boost owner profit, a rapidly growing law firm becomes a cash-eating monster.

One of the lawyers whose firm was listed in the top 500 fastest growing of 2018 recently shared with me, like Paul Harvey, the rest of the story.

Behind that breakneck growth is a law firm that practically destroyed personal finances and threatened family relationships. Vendors who went unpaid. Sleepless nights and stressful decisions. A second mortgage on the family home.

Your estate planning or elder law firm needs more than rapid growth. Top-line sales alone won’t fix what’s broken in a small law firm. Sure, your success depends on getting new clients. But profitability and quality of life depend on how you get and serve them!

Referral-based marketing and estate planning seminars and workshops have failed estate and elder lawyers. These strategies can drive top-line revenue, but the costs are too high … especially at scale.

The fall-out? You’ve seen it, the statistics on lawyer well-being don’t lie. Depression, divorce, substance abuse, even suicide. And far too many good attorneys leaving the profession because, as one lawyer recently confessed to me, “increasingly, I hate practicing law.”

The bottom line: if you don’t fix your marketing and client acquisition systems, rapid growth just means you fail faster.

It doesn’t have to be this way. While most estate and elder lawyers are struggling with long hours, rising costs and dwindling profits, a small handful of smart attorneys are quietly taking back their lives, enjoying their clients and finally getting paid what they deserve … without buying anyone lunch or hustling from workshop to seminar and back again.

They are serving the exact clients they want, with efficient systems that build profitability and freedom. They don’t have bloated marketing budgets and they’re not over-staffed. They have the freedom to enjoy their evenings, weekends and vacations with systems that keep working even when they’re not.

Imagine finally paying yourself a healthy salary and profit distribution … consistently … with more freedom and joy in your lifestyle and your law firm.

If you want to learn more about how to REALLY grow revenue, profitability and freedom in your estate planning or elder law firm, join me for a 45-minute webinar where I reveal the exact five-step strategy that our clients use to scale up their revenue, profits and lifestyle.

Watch now. And when you are ready, book a call to see whether we can help you, too.

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