How to Fix Your Law Practice Cash Flow Problems – For Good

Lack of steady, consistent, predictable cash flow is the number one problem most lawyers tell me they have in their law practices. They tell me that if they could just solve that problem, everything in their life would be better.

Unfortunately, most lawyers are looking to solve their law practice cash flow problem in all the wrong places.

Often, they think they just need to get their phone ringing more.

Maybe you’ve thought something like this yourself. “If I could just get my phone ringing, I’d be golden!” I remember thinking that myself. But, it wasn’t actually true.

In fact, if I had gotten my phone ringing more without solving some of the other issues I’m sharing with you in this article, I would have ended up out of business, fast.

You see, a ringing phone wouldn’t have solved the reality that I didn’t know how to get most of the people calling my office into an appointment with me. And then if I did get them into my office, most of them still left without writing me a check or tried to haggle me down on my fees.

Finally, if I did manage to turn the prospect into a client, I didn’t have streamlined systems for serving my clients so they turned into raving fans.

Instead, my focus was always on where my next new client was coming from. It was a recipe for a never-ending ball of stress.

Maybe you are experiencing it yourself now. I called it the treadmill of dread and the revenue roller coaster. And all of it was making me sick.

If you truly want to solve the problem of a lack of steady, consistent, predictable law practice cash flow . . .

. . . don’t focus on getting your phone ringing with qualified prospects until you’ve created systems in your law practice for engaging clients and creating an experience for them that they cannot stop talking about.

When you create a client engagement system in your law practice that blows your prospects and referral sources away, what happens? You end up with a whole lot more client engagements.

Then, when you create a system for serving your clients that is streamlined so it’s easy for you to deliver your services and creates a WOW experience for your clients, you also end up with a whole lot more client engagements.

It’s only after you’ve got those two things in place –

  1. a system for what to do the minute your phone answered that gets your prospects in the office and ready to engage your services and
  2. a system for serving your clients once they do engage at the highest level

– that you are ready to invest in getting your phone ringing.

Doing it at that point allows you to know that every dollar you put into marketing will pay you back many times over, so investing in your marketing becomes a high return on investment (ROI) probability.

So what does a system for engaging clients look like? And what does a system for serving those clients so they turn into raving fans look like? Learn more, and find out eleven steps to engaging more clients in your law practice immediately, here.

In the meantime, do a little brainstorming. Put yourself in the shoes of your prospects and clients and walk yourself through the process of what happens from the moment a call comes into your office until the time that your clients are served all the way through.

Do you have systems and a process that feels luxurious? Or is it more lax?

Would you want to hire you?

It’s time to start practicing law in a way that is systematized – and fix your law practice cash flow problems, for good.

Book your call with a Law Business Advisor and start enjoying making more money, having more free time, and a deeper sense of satisfaction from your work. You’ll stand out from the crowd, serve your clients sincerely, and they’ll be happy to pay you well for it.

Want to take a deeper dive into understanding the real numbers of managing your law practice cash flow?

Join me on December 3rd for a free, live coaching session where I’ll be sharing a tool I created that will give you an easy to follow law practice growth plan, fully laid out in a spreadsheet, showing the numbers at each stage of law practice, the transition points, and what to invest in when, depending on where you want to go in your practice.

I’m hosting this via live video discussion in the private Facebook group I started, The Lifestyle Lawyer’s Club. Join me there to access this live training, along with heaps more support and resources that will help you have a life and law practice you love.

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