Are you making rain, in this the rainiest month of the year (for most)?
Do you need a new or revised strategy for the rest of 2018 and into 2019? It’s never to early to plan and 2019 will be here before you know it.
Are you achieving your plans for growth through talent acquisition? How? Where? When? How do you effectively on-board new talent helping them with their transition to your firm and ensuring a higher likelihood of success and retention? Not to mention getting the maximum ROI!
Are your leaders performing? Could they use a little ‘back-to-school’?
Are your clients truly happy? How do you know?
Just some things to think about as we are a little half way through the ‘rainy’ month of the year. The summer break is not that far away and then before you know it, it’s 2019 already. As they say April showers bring May flowers. So what are you doing to ensure the rest of the year is full of RAIN?
Are you as targeted and strategic as you could be with your marketing efforts? Are you getting the results you need from your efforts? I offer a complimentary 30-minute laser coaching session. This is not a sales pitch. This time will be spent looking at what you are currently doing and how you could improve your results.
Why is it so many professionals have a tough time delegating?
When done properly, delegating allows you to take your business to the next level. There is only one of you. Whether you are out on your own or working in a firm, you can only grow so much before you reach your capacity. The trouble is most people wait too long before they start to think about delegating, then it becomes even more stressful as they don’t have the time to properly get their team up to speed.
I see this all the time where the lawyer gets to a point where it seems more efficient to do the work yourself rather than teach a junior how to do it. It becomes a vicious cycle that you can never break out of.
Try this! When you are at about 60% of your capacity, start looking for help. That way, by the time you find the right person, or people, you will still have time to teach them, groom them, ensure they are following your strict adherence to client service.
The other thing that will help you remain in control is to ensure you have the systems and processes in place to replicate your approaches. Then it’s simply a matter of finding the right people and teaching them, providing regular feedback, and perhaps most importantly making sure your people know they can come to you for help at any time.
So you’ve worked your entire career building your practice/firm/company. Retirement is on the horizon. What is your plan? Will you simply walk away? Will you forfeit all of your hard work, time, and energy and not reap the full benefits of your hard work?
Why not start planning now! Why not work to building up your practice/firm/ company so that it becomes more attractive to have someone or another firm buy you out? That’s your cash out! That’s your retirement reward.
Now there are two main options the way I see it. The first is to build your firm/practice/company and have a broker sell it for you. The second option is to groom within to bring on other associates and work with them to eventually take the firm over. In both cases though, it’s in your best interest to develop your staff so that you can point to a track record where everyone on your team is a valuable part of its growth. In other words, they all know how to, and have a proven record of bringing in new business. That makes your firm more profitable and attractive whichever option you choose.
But don’t wait until retirement is staring you in the face. Plan now!. Act now! Far too many professionals don’t give this enough thought and before they know it, it’s too late.
Going beyond business development and your ability to generate work, there are a couple of considerations you should think about if you’re looking to get on or speed up the ‘Partner Track’. The first consideration is to learn how to play well with others. Here I am referring to everyone with whom you come into contact on a daily basis; your assistant, paralegals, IT professionals, receptionists, firm management, marketing, library services, etc. Go out of your way to treat these people with the utmost respect and watch how in turn they will over perform and deliver for you. You will not become successful in your career without their support. So when they go out of their way for you, acknowledge their efforts. Take them out to lunch from time to time. Ask them how they would like to contribute. Find out how you can help them achieve their career goals by first understanding what they are. Treat them as you do your clients. In other words get to know them as much as possible.
Giving back to the firm
By this I am referring to what can you do outside your practice to provide value to your firm. Consider answering these questions as a place to start:
What committees can you be on and contribute to?
Are their opportunities for you to mentor a summer or articling student, or even an associate more junior then you?
What can you do outside the walls of your firm in the community to better position your firm?
Follow this advice and you are more likely to become a partner at your firm.
Over time little drops of water accumulate and form a puddle; growing into a stream, flowing into a river and eventually creating a lake, rushing into the ocean. And that’s exactly how growing your practice or firm works. New habits take time, and with repetition create lasting and impactful results. It all starts with that first drop; or in your case, first step.
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OnTrac and Gary Mitchell named in The Top Ten Business Coaches to Help Law Firms Grow