Joshua Latimer helps small business owners understand the power of business systems and automation. In this week’s episode of The Law Practice Doctor, Sam Gaylord covers the importance of creating systems in business, company architecture, law as a commodity, and focusing on touchpoints.
Main Questions Asked:
- What is important when it comes to the lifecycle of the client?
- How do you decommoditize your law firm and stand out in a unique way?
Key Lessons Learned:
- This means being intentional with your business and putting in small, simple, duplicable processes to provide freedom.
- If you are not making sales, there are ways to make tweaks and to systemize your business in order to engage your clients.
- Almost all businesses have the same internal structure, which involves the following:
- The way those clients are sourced.
- Client conversion.
- Management of the client lifecycle.
Law as a Commodity
- Even when it comes to attorneys, people buy from those they know, like, and trust, and overall purchase experiences.
- Law is a commodity in the eyes of the consumer, but it needs to be decommoditized.
Focus on the Touchpoints
- Focus is about following one course until you reach success.
- What do you do to manage the referrals and relationship?
- This is from the moment your client first hears about you to the time they do business and refer two of their friends.
- The entire lifecycle needs to be exemplary.
- The more you can do to make you and your firm higher level, the more money you can demand and the more freedom you will have in your business.
- You need to focus on securing the right ‘types’ of clients, and not just any client.
Choices & The Slight Edge
- Every day you make choices about what you want to do.
- Choose to do something every day that is tiny and easy to do.
- If you do the thing for 30, 60, or 90 days, look at the achievement. It is significant.
Consistency & Lifestyle
- Being steady and consistent is boring and takes a while, but it produces so much.
- Craft a lifestyle by building a good team, providing value to clients, and systemize the process.
- People have clouded vision when it comes to their own business.
- Employee issues.
- Struggling with the difference between leading and managing people.
- You don’t have to be born a leader; it can be a learned behavior.
- A-type personality and dominating isn’t leadership.
- Being imperfectly authentic beats a polished sales copy.
Joshua’s Top Tips
- Begin with the end in mind.
- Carve out with a high level of specificity towards your destination and what you are trying to do.
- Reverse engineer from your ‘Why?’
- You have to sell yourself on your own dream.
Fail Fast Forward
- High achievers are often risk adverse, because formal education teaches you to avoid failure.
- Entrepreneurship is repeated failure.
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Links to Resources Mentioned:
Automate Grow Sell