Practice Management

You know it is time to get out of the consulting business when:

1.  You use the term "value-added" without falling down laughing.
2.  Your three meals a day are a morning consumption function, a noontime consumption function, and an evening consumption function.
3.  You refer to your significant other as "my co-CEO".
4.  You refer to divorce as a "divestiture".
5.  You can spell "paradigm".
6.  You reorganize your family into "team-based organizations".
7.  You refer to dating as "test marketing".
8.  You believe that instead of problems in life you have "issues" and "improvement opportunities".
9.  You give constructive feedback to your dog.
10.  And, you refer to marketing as an investment and not an expense.

As to #10, I think I will croak if I hear one more person refer to marketing as an investment and not an expense.  At best it is both, and the term is offered to mean you do not need to be a skinflint or you need to risk your future in the cost of marketing.  There is a big difference in making marketing a goal and in turning it into a casino.

This is much different from what Tom Kane and John Jantsch have recently described as the excuse of being too busy to market.  Lack of energy or priority in marketing equals failure.  More than anything these gentlemen are talking about sweat equity.

Marketing in our line of work simply should NOT cost that much.  A bit of paper, a little bandwidth, a few email newsletters and broadcast faxes, and an extra trip to Payless ShoeSource to replace your well worn leather should be most of what you need.  What it does require is time and attention.  If you are lazy in this regard, or at least not dedicated, then you will pay a high price regardless of how little money you spend in this endeavor.

Typically, lawyers want to spend money on advertising (a subset of marketing) because they do not want to spend their time and talent recruiting business.  This is a real shame.  First, advertising itself takes a great deal of time, talent and understanding as well in order to succeed.  Most lawyers are bad at this and most advertising fails in varying degrees as result.  Also, network or relationship marketing that is being avoided in this process allows lawyers like you to miss the insight as to what makes your typical client respond to you.  You learn this in one-to-one marketing that you cannot learn no matter how many focus groups you might put together.  In other words, it is fine to ask the questions, but you have to know the questions to ask.  That comes with relationship building.

I think it is important to keep in mind that marketing on a consistent and effective basis is required to achieve a certain lifestyle.  But, you can really do it on a pauper's budget.  You do not have to be indigent obviously, but you should pretend that you are when addressing how to get clients.  Why?  Because a down-and-outer learns two things well.  First, that if he or she is going to get out of a rut, he or she needs to take affirmative action to find business -- immediately.  Second, he or she knows they have no real money, and no hope of any real money to achieve this goal.  The first gets them off their butt, and the second keeps them honest and in check.  It keeps them solvent.  The first represents the need to achieve.  The second represents a realization of what really works.  There is nothing like not being able to make the house payment to get you over your anxiety of getting out and recruiting referrals sources.

How much does it take to meet, greet and constantly and consistently follow up?  A cheap lunch or two.  A business card.  An email or two. Maybe a fax.  A telephone call now and then.  The point is that marketing is a contact sport when done most effectively.  People have to know you exist, that you can help, that you are readily available, how to contact you, and know you care.  Advertising and expensive forms of marketing often miss key portions of this strategy.  Contact marketing does not.  It puts you in front of the groups, organizations and people in all of your glory, and the resistance you feel is mainly in your head.  You not only get to sell them on you, but you get to learn from them as to how to effectively sell yourself to others.  It is a conversation that high priced marketing and advertising just cannot provide.  Like that prescribed by Tom Kane and John Jantsch and others, this takes time.  This takes effort.  But, it does not necessarily take money.  To the degree it is an investment, it is an investment of your time.  It is an investment of your mind.  You do not have to let it be an expense.  You do not have to waste mounts of money.  You do not have to gamble on the result.

Marketing as an expense or a value is a false choice.  Of course it can be an expense.  It can be expensive if you let it.  In fact, it is easy to let it be expensive because that is the lazy thing to do. People approach you with all kinds of schemes that cost money, but most are not only not necessary, they are often not effective.  Go put your mug on a shopping cart, on the back of a receipt, or over a bathroom urinal.  It is up to you, but see what type of skeptical client that brings into your office.  And, skeptical clients are the type that cost you time, money and frustration.  As to these clients, the sales process is hard.

Here is an example.  Pin your business card on the corkboard of a bar and get an appointment this way.  Or, get a call from a potential client that was referred to you by the bartender.  The one from the bartender comes to you pre-sold.  The client comes at least partially vetted.  That client comes expecting to pay money.  The one from the card is confused, understands nothing, has doubts, and most be fully informed and vetted by you before you can even attempt to ask them for money.  Then, often, the client wants to go home and think about it. The same is true with expensive advertising and marketing.  Why?  It is not personal.  When I practiced consumer bankruptcy I bet that of those clients that I spent an hours with in initial consults (for free) I could only close 50% of those that came in as a result of advertising and spent more time getting my upfront retainer.  Of those referred, I spent less time, signed a contract, and received money at the end of the initial interview almost every time.

Do not believe me.  Take any industry in your area.  Let us say credit unions as an example.  Look around and you will likely see that there are a few law firms or lawyers in your area that dominate this industry.  Then try to find their marketing or advertising.  These lawyers and law firms got their business the old fashion way.  Meeting, greeting, and constantly and consistently following up.  Learning from their clients and apply that to provide a great and necessary service. Sure they might occasionally take out an ad in a trade journal or some promotional piece, but often that is more of a favor in honor of a long relationship than it is intended as a marketing tool.

So, the next time you hear an expert make the choice between expense and value in terms of marketing, know that good marketing is an investment of time, but not necessarily a money expense.