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181. Chad Dudley, Dudley DeBosier Injury Lawyers – Evaluate to Grow: Intake, Talent, and Advertising
Personal Injury Mastermind
How to Build a High Value Law Firm
The filling the pipeline requires thoughtful resource allocation. Advertising buzzers have to be tailored to your business model and a specific business development plan. If you like what you heard today, click on the follow button so you never miss an episode of Lawyer's Lounge.
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Speaker 2
Pinpoint number two. Growth. More free time. Better profitability. Whatever your goals are for your firm, you got to know where you're at before you can make changes for major impact. Benchmark the talent of your existing attorneys. Ask about their goals for professional development and identify your firm's gaps and ability so that you can co-counsel or hire appropriately to get maximum value for your
Speaker 1
case. Tier one is your fresh out of law school or you've never done personal injury and you're going to require a ton of supervision. This is the definition. All right. Tier five. This is an attorney that has been first chair and made multiple jury trials and gotten verdicts and excess of a million. One of the first things you have to do is have the attorney sit around and get some agreement
Speaker 2
which attorneys the bond needs to go to when a case develops. And pinpoint number three. Advertising buzzers have to be tailored to your business model and your specific business development plan. We often hear generalized numbers like you have to invest X percentage to have a successful campaign or project. The filling the pipeline requires thoughtful resource allocation.
Speaker 1
What are you trying to build? Are you trying to build a low volume high value practice like each attorney is only going to handle 20 cases and you want them all to be worth an excess of a million. I'm like, okay, well, a lot of your stuff is going to come from increasing attorney referrals. I want to be someone that's doing mass advertising at the gates. What's that going to look like? Well, guess what? You're advertising to revenue ratios. It's going to probably look at it might be 30, 35, 40 percent.
Speaker 2
All right, everybody. Thanks for hanging out. I'm Chris Streier. If you like what you heard today, click on the follow button so you never miss an episode and leave a review. I'll be forever grateful. Now get out there and dominate. I'm out.
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