how to grow an inc. 5000 law practice in ten easy steps · inc. 5000 law practice in ten easy steps...
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How to Grow an Inc. 5000 Law Practice in Ten Easy Steps
Angela McIlveenAttorney and CEOMcIlveen Family Law Firm
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WHERE IT ALL BEGAN….
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BOY MEETS GIRL
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10 “Easy” Steps to Grow Your Firm
Live Celebrate Life
Develop Develop a Meeting Cadence for Problem Solving
Systematize Systematize by Creating Processes and Procedures
Grow Grow Leadership Skills in Yourself and Team
Hire Hire Great People
Track Track Everything and Act on it
Gain Gain Buy-in by Planning with Your Team and Sharing Goals
PlanPlan Yearly and Quarterly Goals that Align with Firm’s Mission, Vision, and Values
Create Create the Firm’s Mission, Vision, and Values
Know Know Your Why
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“To the person
who does not
know where he
wants to go there
is no favorable
wind.”
— Seneca
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Quarterly Goals
Annual Strategic Plan and Budget
5 year vision
Write a business plan and update it frequently
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Goals: Clear, Understood by All, Measurable
OKR – Objective and Key Results
• Company has 3-5 OKR Annual and Quarterly OKRs
•Departments have 3-5 OKRs that align with Company’s quarterly OKRs
• Every employee has 3-5 OKRs each quarter that align with Department Quarterly OKRs
Check in regularly during quarter
Autopsy results at end of quarter
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GAIN BUY-IN FROM TEAM –EXECUTE PLAN
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TRACK EVERYTHING (MOSTLY) AND ACT ON IT
“Trust but verify.”
- Ronald Regan
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KPIs
Leading
■ Website traffic
■ Calls (MQL and SQL)
■ % Consults Scheduled
(#Scheduled/#SQL)
■ % Consults Confirmed
(#confirmed/#scheduled)
■ Work in Progress (WIP)
■ Billed hours (Leading for HR)
■ Employee happiness (NPS)
Lagging■ Accounts Receivable
■ # Cases Retained
■ Retention % by Attorney (#retained/#consults)
■ Leverage (#hours billed/#hours available)
■ P&L – Profitability
■ Collection % Rate ($ collected/$ billed)
■ Employee Turnover %
■ Client happiness (NPS)
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WORK IS WHAT YOU MAKE IT
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Level 5: Pinnacle (Respect)– people follow you because of who you are and what you represent
Level 4: People Development (Reproduction) – people follow you because of what you have done for them
Level 3: Production (Results) – people follow you because of what you have done for the company
Level 2: Permission (Relationships) –people follow you because they want to
Level 1: Position (Rights)– people follow you because they have to
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■Policies – Why we do what we do
–Processes – What we do (big
picture)
■Procedures – How we do it
–Work instructions (detailed
steps)
Systems
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Marketing
Sales
OperationsAccounts
Receivable
Accounts Payable
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CEO
Marketing
Attract Clients
Referral
Sales
Sell
Qualify
Schedule
Confirm
Retain
Human Resources
Hire
Hiring
Onboarding/Training
Fire
Termination
Manage
Performance
Operations
Deliver Service
Onboarding
Closing
IT Finance
Accounts Receivable
Accounts Payable
Budget
Payroll
Executive Assistant
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Develop a Meeting Rhythm to Solve Problems
2-3 day Annual Meeting (Executive Team and Employees)
½ - 1 day Quarterly Meeting (Executive Team and Employees)
90 Minute Weekly Meeting
5 Minute Morning Huddle
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CELEBRATE LIFE
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Connect
■ Angela McIlveen
– Linkedin.com/in/angelamcilveen
– Twitter.com/angela_mcilveen
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Read
■ 5 Levels of Leadership - John Maxwell
■ Daring Greatly - Brene Brown
■ Rising Strong - Brene Brown
■ Start with Why – Simon Sinek
■ Scaling up – Verne Harnish
■ Simple Numbers, Straight Talk, Big Profits! – Greg Crabtree
■ The Checklist Manifesto – Atul Gawande
■ Rocket Fuel – Gino Wickman
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Program will resume at 4 pm in Ballroom EF