How to manage an estate planning or elder law firm.

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.

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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