Profit with Law: Profitable Law Firm Growth

Send us a textShownotes can be found at https://www.profitwithlaw.com/394.In this episode of the Profit with Law podcast, Moshe Amsel interviews Carrie Flynn, founder of Virtual Simplicity and fractional CMO and growth marketing consultant for law firms specializing in wills, trusts, estates, and probate. They discuss the importance of having a Chief Marketing Officer (CMO) in a law firm and when it is appropriate to hire a fractional CMO. Carrie shares insights on marketing strategies, relationship marketing, customer advocacy, and the role of SEO in a marketing strategy. She also provides tips on managing marketing initiatives and evaluating performance.Chapters:00:00 Introduction to Carrie Flynn02:25 The Role of a Fractional CMO in Law Firms 11:16 The Right Time to Hire a Fractional CMO 14:35 What a CMO Does and Doesn’t Do 19:41 Determining the Best Marketing Opportunities 24:54 The Importance of Strategic Follow-ups and Communication 26:15 Creating a Referral Partnership or Program36:57 Creative Ways to Enhance Referrals42:50 The Role of SEO in Marketing47:31 The 90-day Focus Approach49:15 Avoiding the Multi-channel Marketing trap50:59 Setting and Tracking KPIs58:53 The Importance of Moving ForwardResources mentioned:Check out our Profit with Law YouTube channel!Learn more about the Profit with Law Elite Coaching Program here. Connect with Carrie Flynn: Website | Instagram | LinkedInEpisode 334 - Grow Your Law Firm through Intentional and Strategic In-House Marketing with Cassidy LewisFiverrJoin our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/

Send us a textShownotes can be found at https://www.profitwithlaw.com/393.In this podcast episode, Rocky Lalvani, known as the "Profit Answer Man," joins Moshe Amsel to talk about prioritizing profit and financial management for business owners. They discuss the importance of financial statements, understanding profitability levers, building awareness without excessive spending, alternative pricing models, value pricing in the legal industry, tracking labor costs and efficiency, evaluating overhead costs, implementing the Profit First system, and determining the right pricing strategy. They emphasize the need for consistency, accountability, and profitability to sustain and expand a business. Chapters:00:00 Introduction04:08 Rocky Lalvani's Background and Journey07:17 The Importance of Financial Statements for Business Owners13:20 The Importance of a Fractional CFO14:37 Keys to Profitability and Profit Levers16:10 Factors to Consider for Business Growth26:56 Value Pricing in Legal Services29:03 Efficiency and Margins in Alternative Billing Models36:04 Considerations for Below the Line Costs40:41 Transition Plan and Timeline for Implementing Profit First42:49 Staying Focused and Accountable in Business49:36 The Importance of Pricing Correctly51:23 Consistency and Perseverance in BusinessResources mentioned:Check out our Profit with Law YouTube channel!Learn more about the Profit with Law Elite Coaching Program here. Connect with Rocky Lalvani: LinkedIn | Twitter | Instagram | PodcastEpisode 155: The episode of Prophet Answer Man featuring Moshe AmselProfit First by Mike MichalowiczValue Pricing for Accounting Professionals by Mark WickershamJoin our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/

Send us a textShownotes can be found at https://www.profitwithlaw.com/392.In this episode of the Profit with Law podcast, Moshe Amsel interviews Tanner Jones, Vice President of Business Development for Consultwebs and host of the LAWsome Podcast. They discuss the future of marketing in the legal industry and how it relates to law firms. Moshe and Tanner dive into the concept of agile marketing and the importance of testing, measuring, and optimizing marketing efforts. They touch on the consumer journey and the importance of nurturing leads and staying top of mind with potential clients. To help listeners take action, Tanner provides an action plan that includes taking an inventory check, establishing key performance indicators, and aligning marketing strategies with goals.Chapters:00:00 Introduction05:50 What is Agile Marketing? 09:41 Understanding the Marketing Funnel 12:11 How Much to Spend During Each Phase of the Marketing Funnel14:44 Phases of Growth and Shifting Marketing Dollars 19:24 How to Find the Right Marketing Solution 26:40 The Consumer Journey 37:58 3 Step Action Plan 43:06 Overcoming Mindset Limitations Resources mentioned:Check out our Profit with Law YouTube channel!Learn more about the Profit with Law Elite Coaching Program here. Connect with Tanner Jones: Email | Website | PodcastJoin our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/

Send us a textShownotes can be found at https://www.profitwithlaw.com/391.In this podcast episode, Moshe Amsel and Taylor Darcy discuss various topics related to running a successful law firm. They emphasize the importance of planning, setting realistic goals, and aligning business strategies with personal values and lifestyle. They also discuss the negative impact of discounting rates and the psychology of money in client relationships. Additionally, they highlight the need for course corrections in business and the importance of being adaptable and open to change. They also touch on the significance of allocating a percentage of revenue to marketing and investing in staff to achieve revenue goals.Chapters:00:00 Introduction to Taylor Darcy08:38 The benefits of focusing on one or two practice areas 11:55 Beginning with the end in mind 16:15 Planning for your desired lifestyle26:17 The psychology of money28:25 Setting financial goals33:23 Course Correcting and the Importance of Taking Action36:55 Flexibility and Embracing Course Corrections46:13 The importance of clear metrics in working with marketersResources mentioned:Check out our Profit with Law YouTube channel!Learn more about the Profit with Law Elite Coaching Program here. Episode 330 - How to Reach Your Audience and Build a Culture of Trust with Taylor DarcyEpisode 029 - Why Choosing a Niche Will Skyrocket Your FirmEpisode 026 - The Death of the billable hourEpisode 123 - What’s Holding You Back?Connect with Taylor Darcy: Website l YouTube l Instagram l TikTok Get Staffed UpClio Legal Trends ReportYou Are a Badass at Making Money by Jen SinceroJoin our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/

Send us a textShownotes can be found at https://www.profitwithlaw.com/390.Are you a law firm owner struggling to expand your team? In this episode of the Profit with Law podcast, Moshe Amsel interviews Luis Raul Scott Jr, managing partner of Beta Scott Injury Lawyers and owner of Eight Figure Firm Consulting, to discuss leadership and team development in law firms. Luis shares his valuable insights on the mistakes law firm owners make when expanding their teams and emphasizes the importance of building relationships with employees. Moshe and Luis also explain the concept of Parkinson's Law and the significance of profitability in business growth. Don't miss out on this episode to learn more about growing your firm through leadership and your team.Chapters:00:00 Introduction07:01 The 3 Biggest Mistakes in Expanding Teams11:33 How to Avoid the 3 Biggest Mistakes in Expanding Teams14:27 Leadership and Team Development17:15 When to Hire22:39 The Role of Leadership in Growing Your Firm25:20 Profitability and Intentionality32:09 Luis’ Parting Piece of AdviceResources mentioned:Check out the new Profit with Law YouTube channel!Learn more about the Profit with Law Elite Coaching Program here. PWL YouTube video: How To Scale A Law FirmConnect with Luis Scott Jr: https://luisscottjr.com/Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/

Send us a textShownotes can be found at https://www.profitwithlaw.com/389.As your business grows, there are more and more moving parts. As a business owner, you may feel you need to ensure everything runs smoothly while also looking for more clients. However, this can also lead you to a path where you want to do anything and everything. But remember: the question you should ask is who, not how. You need to build a business team.We’re here to help you cut through the noise. In our episode today, our guest emphasizes that all law firms need to just focus on two things — networking and people. Margaret Burke joins us to talk about the value of marketing through networking and how your team can help you grow your law firm. She shares ways to build your team culture but also capacity. Here's something impactful: focus on skills instead of job titles.If you are struggling with growing your law firm and wondering what’s next, then this episode is for you.00:00 Introduction7:10 The Value of Networking and Marketing11:32 How the Whole Firm Works Together15:45 How to Grow Your Law Firm Business Team22:21 How to Put People in the Right Job30:22 The Law Firm Business Model 36:02 How Firms Change Their Business Model 45:12 Margaret’s AdviceResources mentioned:Subscribe to Profit with Law’s Youtube channel for exclusive content!Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.Learn more about the Profit with Law Elite Coaching Program here.Video: How to Scale a Law Firm Profit with Law previous episodes: The Four Pillars of Employee Happiness with Craig GoldenfarbBuilding the 7-Figure Attorney Mindset and Reality with Craig Goldenfarb Connect with Margaret: Website I Email I LinkedIn I 617-702-0529 Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/

Send us a textShownotes can be found at https://www.profitwithlaw.com/388.How much value do you put on visibility and business operations? These two are essential for sustainable business growth, especially for firms. However, this can be challenging if you don’t have a plan and the proper tools. Fortunately, through consistent tracking, leveraging business intelligence tools, and focusing on critical KPIs, you can make data-driven decisions to enhance operational efficiency.In this episode, Kate Eberle joins us to talk about the transformative power of business intelligence. She shares valuable insights about understanding your business better and manually monitoring operational processes. Kate also discusses the crucial role of BI in making data-driven decisions that lead to increased profitability.If you’re seeking practical ways to steer your businesses toward success, be sure to tune in to this episode.00:00 Introduction1:14 About Kate 4:49 Visibility and Understanding Operations7:43 Starting Points to Understand Your Business Better12:10 Why You Should Track Processes16:22 Puzzling the Pieces Together21:50 Business Intelligence and Manual Calculation24:50 Using Excel and BI32:17 On Important KPIs34:23 Increasing Your Profit Margin43:45 Enhance Profitability through Data-driven Decision Making46:57 Kate’s AdviceResources mentioned:Subscribe to Profit with Law’s Youtube channel for exclusive content!Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.Learn more about the Profit with Law Elite Coaching Program here. Connect with Kate: LinkedInLearn more about Blue MarginGet $750 off your first virtual assistant onboarding when you sign up with Get Staffed Up through www.profitwithlaw.com/getstaffedup.Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James ClearJoin our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/

Send us a textShownotes can be found at https://www.profitwithlaw.com/387.There's no one-size-fits-all marketing formula to marketing a law firm. In the legal field, as in any business, failure is a part of the journey. However, rather than viewing setbacks as defeats, see them as opportunities for growth and improvement. Analyze your mistakes, learn from them, and dust yourself off. With diligence and putting trust in the process, your law firm's growth potential is limitless.In this episode, Luke Russell joins us to discuss why it’s okay for law firms to fail in their marketing ventures. He emphasizes that the key is finding a marketing strategy you genuinely enjoy. He also encourages us to use social media as a relationship-building tool, not a channel for getting attention. Most importantly, Luke urges lawyers to embrace experimentation, recognizing that failure is integral to successfully marketing a law firm.If you want to know how to start building a marketing approach that captures your personal values and your firm’s brand, this episode is for you.00:00 Introduction4:55 Luke’s Beginnings7:18 Getting into the Legal Field10:57 The Business Problem We Need to Solve in the Legal Field in Relation to Mental Health12:53 Entrepreneurial Frustrations as a Lawyer15:52 Navigating Business and Marketing as a Lawyer18:44 Doing YouTube25:51 Pulling the Plug When Something’s Not Working28:32 Perfectionism vs. Diligence in Marketing a Law Firm33:21 Luke’s Parting Piece of AdviceResources mentioned:Subscribe to Profit with Law’s Youtube channel for exclusive content!Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.Learn more about the Profit with Law Elite Coaching Program here.Profit with Law Episode 340: Investing in the Growth of Your Law Firm with Jim FarrinConnect with Luke: LinkedIn l Instagram l EmailCheck out Luke’s podcast Lawful Good to discover how you can become a better lawyer in and out of the courtroom!American Bar Association’s Mental Health ResourcesThe E-Myth Revisited by Michael E. GerberJoin our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn -

Send us a textShownotes can be found at https://www.profitwithlaw.com/386.You've got eight solid hours of sleep, yet you don't feel rested. As entrepreneurs or law firm owners, getting enough sleep is critical to ensuring your business succeeds. But there's more to sleep than hopping into bed and closing your eyes. You need better sleep quality — which means having phases of deep and dream sleep and sleeping longer.On this episode of Profit with Law, Tanessa Shears, a health consultant and kinesiologist, shares the role of good-quality sleep in optimizing productivity, resiliency, and focus for entrepreneurs. Tanessa explains various strategies to improve sleep and optimize sleep opportunities, including home redecoration and dieting tips. The episode delves into the science of sleep, the benefits, and the consequences of neglecting it. Tune in to hear the eye-opening conversation on how entrepreneurs can leverage dream sleep to scale their businesses and lead fulfilling lives.If you're a tired entrepreneur who never feels rested even after a full night's rest, it's time to improve your deep and dream sleep phases. This episode is for you.00:00 Introduction5:42 Sleep: Its Importance and Effects on Life11:52 Deep and Dream Sleep for Entrepreneurs18:16 Snoring Linked to Impaired Cognitive Performance20:53 Improve Your Sleep Quality With These TipsResources mentioned:Subscribe to Profit with Law’s Youtube channel for exclusive content!Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.Learn more about the Profit with Law Elite Coaching Program here.Get Tanessa’s book, Focus: Hack Your Sleep For More Productivity, Energy and Growth In Your Business.Oura RingMyoTapeJoin our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/

Send us a textShownotes can be found at https://www.profitwithlaw.com/385.Law firms of every size often need help with lead generation and conversion. Why? The phone is ringing, your receptionist is talking, and you're sending emails. So what's going on? What are lawyers doing wrong when it comes to marketing a law firm?In this episode of Profit with Law, Philip Fairley joins us to discuss marketing a law firm — and you can use his methods for any business. Follow his journey as a business person in the tech and legal industry. Discover the necessities for marketing your services.   Tune in to learn what too many law firm owners miss when marketing a law firm.00:00 Introduction2:30 The Life Story of Philip Fairley13:06 Building Upon the Legacy of Rainmaker22:17 Marketing a Law Firm: Spending Money to Make Money31:09 The Value of Having a Lead Intake Specialist44:27 Funneling Clients to Unlock Peak Profitability48:51 Updated Techniques for Marketing a Law FirmResources mentioned:Subscribe to Profit with Law’s Youtube channel for exclusive content!Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.Learn more about the Profit with Law Elite Coaching Program here. Episode 369 - How to Leverage Customer Feedback to Boost Your Law Firm with Curtis DaveyConnect with Philip: LinkedIn Book a FREE consultation/Strategy session to find the right marketing solution for your firm with The Rainmaker Institute. Discover the power of video. Learn how to create content at home to boost your appointment rates with Rainmaker Video Rainmaker Video ChallengeAnswer the PublicTurbineRE-AnalyticsJoin our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/