7 habits lawyer_north qld 201

Presented by Matthew Brannelly

Current Environment

• Property market/conveyancing – 1980 levels

• SME’s – inactive

• Changing staff expectations – work/life Gen X and Y

• Higher consumer expectations

1. Belief (be proactive)

2. Self Confidence (begin with end in mind)

3. Empathy (think win win)

4. Communication (understand then beunderstood)

5. Team Player (synergise)

6. Rejuvenates (sharpen the saw)

7. Execution (first things first, implement, follow through)

7 Habits of Success

Areas most legal practitioners challenge to master as they transform their business to meet the demands of today’s marketplace.

Practice BuildingChallenges

Why are we here?

• Break out of sea of sameness

• Not reaching full potential

• To break into new markets

• Learn from the success of others (The 7 Habits)

• Increase productivity and profitability

• Grow your practice

Today we showyou how to use the 7 Habits to grow your practice.

Practice Growth Program

UnderstandingYour Ideal Client1.

Your Value Proposition2.

Branding &Your Message3.

Find the Diamonds4.

C.O.I’s & StrategicAlliances5.

Become an Expert6.

Accountability7.

The 7Steps

YOUR IDEALCLIENT

High ValueClient

YourIdealClient

=

Your Ideal Client

• Optimal value• Your service offer (value proposition)

aligns to clients needs and wants• You enjoy working with them• They can afford your service

Marketing is the process used tointroduce you to prospects in yourIdeal Client Universe …

• Now versus the future

• Clarify – target / align services

• What do your ideal clients want or need

• Segregate clients and focus on the high value clients – target prospects from the same profile

• Find diamonds in client base – low hanging fruit

Your Ideal Client

2

YOUR VALUEPROPOSITION

Concept

• Clear statement of the tangible experience a client getsfrom using your services

• Allows your business to clearly enunciate what you dofor your clients

• Defines what value a client will receive• What is it you provide a client that sets you apart• Defines what’s special about what you do

2 Your Value Proposition

The Right Direction

2

We are in the business of … Our service provides … Unlike … other practices, who provide … a range of services… Our insights … are used to create and implement…

How to Create

Your Value Proposition

• Create your 1 minute elevator pitch … what is special about what you do!

2 Your ValueProposition

3

BRANDING &YOUR MESSAGE

3

• Branding ObjectivesCredibility expertise

Differentiation your service offeringPositioning value proposition

message

• Marketing collateral must be consistent and on message

Branding Strategy

Branding Strategy

Before After

Branding Strategy

Before After

3

Research done by Executive research Consulting 2010

Branding Strategy

If you are recognised as a brand leader by your target audience, you are able to charge higher fees.

No Brand Leadership*           With Brand Leadership*           

3 Branding Strategy

• Firms recognised by target audience achieve higher fees/revenues/profits

• You do not need to be big (M.R / S.G) and be all things to all people

• But you do need a recognisable brand, where people know that you are the go-to people for …

Build your brand and you’ll build your business.

4

FIND THEDIAMONDS

4

• Optimise value from client base

• Cross selling opportunities – other products or services (e.g. of a C.O.I or S.A)

• Implement program to communicate offers to all client categories A to C

Find the Diamonds

• Show you care

• Be personal

• Remember the family or business relationships • Systemise • Remain top of mind and relevant

4 Effective Communication

• Goal – create and maintain relationships,Clients and Advocates – COI’S

• Client segmentation • Defined service levels and systemise • Communication and Contact program-lifetime

value of a client.

4 Relationship Management

• Your highest value activity?

• Developing relationships

• Relationships = Advocates

• Roles – Business Builder and Lawyer - the balance

4 Relationship ManagementImportance

5

CENTRES OFINFLUENCESAND STRATEGICALLIANCES

5

Highest value prospects.

Referrals

Your current ideal clients and COI’S will lead you to others.

5 Referrals

C.O.I refersideal clients to you.

Create Pipeline

5 Centres of Influence

Identify who are your ideal C.O.I’s(Financial Planners, Accountants, R.E. Agents).

5 Centres of Influence

What are their drivers?

5 Centres of Influence

Give more thanyou receive.What’s in it for them?

5 Centres of Influence

• Research the industry

• Understand their business and needs

• How can you help them

• Prove your expertise

5 Strategic Alliances

• Show how you can assist them

• Joint marketing initiatives

• Become part of the family – build a relationship

5 Strategic Alliances

6

BECOME ANEXPERT

6

• QLS Accreditation

• Create credibility with prospects, C.O.I, S.A

• Research • Meet people active in the industry/sector

• Ask questions about concerns, needs,costs and benefits

Become An Expert

• Write white papers

• Supply articles to industry publications

• Get testimonials

• Publish / promote in corporate material – newsletter, websites etc.

6 Become An Expert

7

ACCOUNTABILITY

7

• Philosophy and systems

• Each role – job description,goals, K.P.I’s and reward

• Execution Bond

Monitor Results / Accountability

MARKETING OPTIONS

HOW…

Having selectedyour ideal client and business goals, you can then decide on the most appropriate marketing strategy for both clients and prospects… to help you build more and better relationships.

Which ones are right for you?

Your Priority Matrix

Profile Building - C.O.IExisting Clients - Referrals

Pipeline ofProspects

PIPELINE OF PROSPECTS…

YOUR CLIENT BASEFOREVER AFTER

Your Service Selling Process Must• Improve the Relationship• Complete your logistics and paperwork• Deliver a memorable experience• Meet process standards

Personal Level• Top of mind• Builds a brick wall• Stronger relationship

Professional Level• Referrals• Loyalty• Additional income

BEFORE

DURING

AFTER

PRODUCTIVITYCHECK-UP

NOW…

To be an effective business builder/leader: • Do more of …• Do less of …• Stop doing …• Start doing …

Commit and take Action!

Practice v Business

Successful businesses growby improving upon what they do well – not just by correcting weaknesses.

Focus on what you do well

Momentum

The 7 Habits of Success