That post is set out below for your interest...
I have a strong belief (backed by thirty-eight years of hard evidence!) that most of the problems in law firms start with the principals...and that often the wrong courses are set early on while practitioners are flying solo, or in a very small firm...
For this reason I dedicate part of my resources annually to assisting individual lawyers who can benefit from mentoring...at a very low cost...
I have found from experience that keeping the arrangements simple works best...no ongoing commitment...just a small EFT at the beginning of each month for unlimited access to my experience by email. Where necessary phone discussion can be booked in...
An investment of this type returns your small investment hundreds of times over, and gives you the confidence to address challenges in your firm you may never successfully attack on your own...
Example, a suburban Sydney sole prac increased her annual turnover over $100,000 per annum, without any additional time or expense, after a ten minute phone discussion of just one challenge she faced...
Example...another NSW sole prac emailed that as a result of advice provided she had the confidence to increase her hourly charge rate 20% and various specific fixed fees 100%...
Some mentoring clients actually email me their draft proposals to clients on new matters, to get my input on fees before they send the proposals out...generally I can see opportunities to better describe value and increase the fees obtained...
Many firms run marketing proposals past me for input...and I also look at dozens of articles and pieces of proposed website content each day and provide comment and suggested edits...
Some firms have also taken the opportunity to enrol promising employees which is a very useful investment...
For sole pracs KMSMentoring starts from as little as $285 plus GST/month...undoubtedly the best management investment you'll ever make...
I only take on a limited number of these mentoring roles at a time, so opportunities are available for you strictly on a "first in best dressed" basis...
Here's your email contact:
mentoringblog@lawfirmprofit.com
3.11.2011 Post Business Coaches For Lawyers...
Recently I had the pleasure of chatting on the phone with a lawyer who had contacted me after doing a lot of on-line research.
Many things were discussed relating to the failure of his practice to produce much in profit and its poor cashflows...
One very interesting fact emerged.
The practitioner had spent nearly $25,000 in the past twelve months on a Business Coach.
While he averred that he had been "helped somewhat" he said he had not seen much yet by way of results...perhaps his own fault he suggested.
My comment...if you feel you need a Business Coach, and they definitely have their place, get one who has a long track record in your Profession!
In most cases the cost will be a fraction of what my prospect spent in this example...and any such person worth their salt will get you strong observable results quite quickly.
The business coach in this situation had no legal practice experience whatsoever.
To discuss business coaching for lawyers please just email businesscoachingblog@lawfirmprofit.com
Rob Knowsley, LLB MIMC Knowsley Management Services
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