Tuesday 25 May 2010

People Pay Top Dollar for Legal Solutions

It is incredibly difficult to be a successful lawyer/owner/entrepreneur

and that's what most law firms are run by.

Sole practitioners - responsible for everything.

In reality these owners find it hard to know what to do. Because they
are in the thick of things on a daily basis.

This is no different from any industry where the owner is also a worker,
(except the onerous and unfair restraints put on solicitors by regulation).

Where law firms should focus is on providing solutions
and not just advice.

Advice is seen as expensive and ubiquitous.

People will pay any price for solutions.

Many law firms are members of my newsletter.

Some of them take the advice.

Som even act on it.

But if I were to provide the solution to your legal marketing problems and
do it for you...i.e. give you lots of willing buyers that would
pay the price you want...what would you pay me?

If you create a system that provides solutions profitably
and it is not reliant on time billed or geography
then you have something very valuable.

It is almost immune to any threats because it is so valuable to clients
and prospects will find you with good marketing.

The system is based on;

Find what people want = solutions to their problems.
Make sure there are enough of them = market.
Devise a way of delivering it = profitably.
Communicate it to them you have the solution = marketing.

Rinse and repeat with new solutions when you find out
more niches.

The beauty of this is that you also have something you can sell
when you retire or when you want to. Because it's similar to a franchise.

(See Gerber's E-Myth Revisited book).

The answer is always the same in business.

Great marketing gives you more money.
You can invest more in the solution.
You get more clients because of it.
Which you re-invest in marketing.

Apple Mac anyone?

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