What can we do to best position ourselves for an even more efficient and profitable 2015? To realize the most success from this year we need to candidly analyze the previous four quarters in our practices. What are the lessons we can take away from the last twelve months? If you're not sure where to start, begin with simple questions focused on what worked well. Keep in mind just because a question is simple, doesn't mean it is not vital to practice success.
As you sit down to start assessing your law firm over the last year, try these questions: What went right? Where did we see the best return on investment? Which of our services were most purchased? How did our new clients find us? What was the most profitable month and why? What services did our existing clients return to us for? What are our clients and referral sources telling us they most enjoyed and benefited from? When did things get hard for us? What were the obstacles we faced and did we overcome them?
Recently, I presented on this exact topic in my webinar 5 Steps to Make 2015 Your Best Year Yet. After you take a look at the past year and begin to focus on making 2015 your best practice year yet, you can use the five steps from my presentation on where to get yourself started. You can also watch it when you have more time!
The five steps I talked about are:
- The Business Plan
- Building the Business Generating Referral Network
- Efficient Administrative Structure
- Knowing Where to Find the Answers
- Plan for Effective Communication
Whether you're just starting out or have a forty year practice, each of these topics is applicable when it comes to creating a thriving practice. Your law office will be the most efficient and profitable when we treat it just like what it is - an office. This means that while our legal services are extremely important, we can't lose sight of setting the course for what our law practices need for the next year. Take the time you need to assess your administrative operation needs, how you will develop your referral network this year and the marketing campaigns you need to increase your profitability.
When you're making your 2015 resolutions, decide to enhance your practice on all fronts. Make the commitment to support both yourself and your team with resources like time, education and quarterly evaluations to ensure you grow throughout the year. I look forward to seeing your success in the New Year! Don't forget to click here to get the webinar recording on 5 Steps to Make 2015 Your Best Year Yet for free!