10 Basics of Services Marketing

I just met with a smart young attorney who is fresh out of law school and hanging his shingle. Like any service-based business, he was very concerned about how he’s going to attract the clients with whom he would love to work. Like I said, he’s smart.

Attracting clients is not just an issue for lawyers, it’s an issue for everyone – especially if you’re a service provider.

He’s doing his homework and asked me to share some ideas about how he should approach his target niche.

While this type of information is at the heart of the discussions we’re having as part of The Space Between Center lawyer mastermind groups (business law, estate planning, & collaborative/family law programs), I thought I’d share what I told this young man over coffee this morning.

Here’s what I suggested:

1.  Consolidate his knowledge of the target niche area of law into a short (say 20 pages) ebook that outlines the core issues his target clients should be thinking about.

2. Distill that ebook into a PPT presentation.

3.  Offer to give that presentation to as many groups in his target market as possible.  Free.  In person and via Webinar when he can.

4.  Constantly blog with short value-providing articles for his potential clients and use social media (twitter, facebook, linkedin, youtube) to build friendships and increase the number of people he’s helping with his blog.

5.  Break out sections of the ebook into blog posts and submit those post to other blogs/sites read by potential clients.

6.  Offer the full ebook as a free gift in exchange for people getting on his mailing list.

7.  Use the ebook and blog to qualify potential clients.

8.  Build a flat-fee engagement model to build relationships.

9.  Have a merchant accounts to take credit card payments.

10.  Tell clients that your initial consultation fee is rolled into the engagement if the potential client wants to engage, otherwise, it’s a fee of $XXX due at the end of the meeting.  He can always waive that if he wants, but it sets the expectation of value in the initial meeting and lets the tire-kickers move on to someone else for free advice.

These 10 elements work in every services business, not just for lawyers.

For the lawyers reading this:

If you’d like to learn more about how to attract more perfect clients to your practice using these approaches, you owe it to yourself, your clients, and your family to be on our informational call next Wednesday, May 19th at 2pm Eastern.  You can sign up for that call here. We’ll be sharing some tips and tricks and also giving you the details about how you can be part of The Space Between Center lawyer mastermind group.

Turn the Car Around

I’m sorry it’s been so long since I’ve posted some real practical business information.  I’ve been extremely busy on several other fronts as you can see by browsing my recent posts. Today made me sit up and take notice of a particular issue – what I call the “turn the car around” moment.

My day started this morning giving one of my standard programs at our local Small Business Development Center. Today’s talk was about the formation documents you need for your business – especially for non-marital partners who can’t “kiss and make up” when there is a business dispute or stress.

One of the key points of the talk is what I call the “turn the car around” moment.  This moment happens sooner or later in EVERY business. It’s the moment when you’re driving home from work and ask “what would it cost me to just keep on driving and never have to see that SOB again!?”

The record in my practice is 6 weeks… I had two women who were best friends until they went into business together. 6 weeks later they were asking “what would it cost me…?” Unlike many entrepreneurs (who are not my clients) these women had the documents in place to answer that question.  We were able to dissolve their business venture and salvage their friendship.  Without those documents, it would probably have cost several thousand dollars and ruined the relationship.

The key document is a buy-sell agreement.

These can be complex or simple, but they must BE. And they should contain AT LEAST a few elements:

1. Triggering events: death, disability, divorce, disinterest, etc.

2. Pricing formula: book value, sales multiplier, outside valuation, SOMETHING.

3. Payment method: all at once, over time.

If you don’t have this document in place, get it done NOW.  Even an email between all the owners agreeing to those three points is better than nothing.  I call this the “turn the car around” discussion because the goal should be to create a buy-sell document that provides incentive for the angry owner to turn the car around, come back to work the next day, and resolve the differences. Usually that means a relatively low-ball valuation method and a giving the remaining owner(s) the right to either pay the buy-out amount all at once or over several years.

An interesting side note: when I got back to my office after the presentation, a client was waiting.  Guess what we had to discuss?  Yes, a turn the car around situation. Again, I’m glad a buy-sell process is part of our standard formation package.

What’s the dif?

I wasn’t planning to share this information until the informational call tomorrow officially launching The Space Between Center for Creative Spirit in Business, but my article @ Lawyerist.com and the recent Creative Business Lawyer call have resulted in a stack of emails asking me to share a bit more about how The Space Between Center’s lawyer mastermind group will be different from The Creative Business Lawyer program that I helped create, but recently left.

First, let me say that I have NOT been a part of the planning of the CBL program since I resigned a couple weeks ago – actually, two weeks ago today.  And, I was not on the call today. So, I don’t know all the current details of the program. A friend on twitter said this about the call when I asked how it went.

@kevinhouchin Not bad. Discussed changing the mindset from creating docs to becoming a trusted advisor. How would you distinguish your call?

So, what’s the diff?

First let me say that I still believe fully in changing the mindset from creating documents to becoming a “Trusted Advisor” (that’s one of my all-time-favorite business books…) and believe that any program that helps you do that will be worth whatever you’re paying (within reason).

Here are some elements that I believe distinguish the Space Between Center’s program from CBL. We’ll be discussing these in detail on tomorrow’s call.  Sign up, because even if you can’t make the live call at NOON EASTERN, you’ll be on the list to receive the replay link.

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Here we go:

  1. The context of The Space Between Center program is different.  The overarching mission of The Center is to help people reach their full potential through entrepreneurship. This lawyer mastermind program is only the first phase in that mission because I believe that entrepreneurs can be more successful when working collaboratively with their lawyers. The flat fee model that I created and implemented in my own practice is just the starting place.  An important starting place, but not enough.
  2. While working with the founding Creative Business Lawyer group, it became apparent almost immediately, that we can all learn from each other substantively. For instance, one of the member attorneys called me to ask if I could teach her how to file a trademark for a client. I’m no expert on employee agreements, so I was interested in learning from the members who had more experience in that area.  There are sub-niches in small business practice. Obviously, we’ll have a library to share forms, but we need to go beyond that.

    So, HERE’S a MAJOR difference: we are going to dedicate substantial resources and one hour a month to offer a substantive legal training session on topics such as Private Placements, NV Formations, Trademark, Copyright, Employee Agreements, LLC Operating Agreements, etc.  We’re going to invest and use our best efforts to get these sessions accredited for CLE credit in the home state of each member. We have the partnership in place to manage that process and it’ll just come down to the approval process in each state. We’re committed very firmly to making this a reality. If we’re investing in a program to learn and better ourselves as lawyers, we might as well satisfy our CLE requirements in the process!

    No, I’m not going to be the one teaching all these. I don’t have the knowledge, credentials, or time to do that.  The Center will offer opportunities for members to lead these sessions, and we’ll bring in outside experts when needed.  Founding members will have dibs on offering sessions, because these sessions are a great way to help members build their own “expert” brands.

  3. We’re going to dedicate one call a month to work/life balance.  Yes, some of this material will come from the CLE Ethics workshops I’ve done for the ABA and other Bar Associations, but a lot will come from outside experts. Success is more than money, way more. And, you have to feel successful as a human before you can ever have financial success. I learned that the hard way.
  4. Finally, at least for this post, we’ll dedicate one call every month to open mastermind discussions, tending toward the practical issues we all face at work and at home, leaning toward developing each member’s own unique expertise and branding. We don’t expect the power of this program to come from The Space Between Center brand (although we hope that will be a benefit). We expect the real power to come from enabling each of the member lawyers to reach their own full power and potential through this creative business we call “practicing law.”

Those are some major distinctions, at least as far as I know.  I’ll still have a few cool elements to share on the call tomorrow such as how the membership works and what the first few sessions will contain.  We’ll start the program with the kick-off call March 30th, so don’t miss tomorrow’s live call.  Again, if you can’t make tomorrow’s call at Noon Eastern, at least SIGN UP so you’re on the list to receive replay instructions.

Now, back to work.

Lawyerist.com post

I’ve been getting a bunch of questions already about the flat fee client model I discussed in my recent Lawyerist.com post titled Confessions of a Happy Lawyer. (no, the photo in the article isn’t me…)

People are wanting to know how they can learn more about this approach.  I’ve been getting those questions for several months now.  Since I don’t have enough time to deal with all those questions 1-to-1, I’ve scheduled a free informational call Tomorrow, Friday March 19th at Noon Eastern.

The call is part of the launch of The Space Between Center for Creative Spirit in Business. The first initiative of The Space Between Center is a Mastermind group for lawyers who serve entrepreneurs.  The first element (but only the first of many) is discussing the secrets of implementing a flat-fee engagement model.

To sign up for the call, just pop over The Space Between Center website and complete the form.  We’ll email you the call-in details right away.

Until the call tomorrow…

Now back to work.

Introducing The Space Between Center for Creative Spirit in Business

Last week I announced that I had resigned my working relationship with Alexis Martin Neely and the Creative Business Lawyer (CBL) program. Immediately, business attorneys from all over the country asked me if I was going to start my own program, because if I did, they wanted to know about it. I was very proud of the work I was doing as part of CBL, but it became apparent that progressing down that path was not a good fit for me. I sincerely wish Alexis and the members of the CBL program the best as they move forward.

While the CBL program was small, I knew the attorneys in the program were on to something powerful. They were on the way to changing how lawyers work with entrepreneurs from the old lose-lose hourly rate model to a model that empowers both the attorney and the client and forms a true “Trusted Advisor” (go read the book) relationship. I couldn’t give that up.

But, I couldn’t just take what I was doing with the CBL program and slap a different name on it. While I could do that legally, it didn’t feel “right.” If I was going to do my own program for small business attorneys, it needed to be the type of program I would build without the influence of someone else’s vision, style, and habits.

I’ve kept a journal since the day my dad passed on way back on Memorial Day, 1991. My journal entry dated 7/7/09 includes a description of an organization that helps foster the spirit of creative business. I called it “The Space Between Center for Creative Spirit in Business” and I kept coming back to the concept over and over.  It would keep me awake at night.

Last week, I had a choice to make: was it time to bring The Space Between Center to life?

So, I thought about it for a little while.  Then it hit me… I could build my program for small business attorneys as the first initiative of The Space Between Center. It had been waiting for months for the right time for action.

Every day at least a few emails came in from attorneys around the country continuing to encourage me to start my own program. If you’re and entrepreneur, you shouldn’t ignore customer demand.

I formed The Space Between Center LLC last Friday. It felt REALLY GOOD!

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Since then, I’ve been defining what my program would look like, how it would operate and what partners I will bring in to make it all come together. The idea is too big for me to implement alone. I found the right partners. They’re on board and almost as excited as I am.

And, inquiries from business lawyers keep coming in…

As of NOW I don’t have to say “wait just a few days.” Now I can say “go to www.spacebetweencenter.com and sign up for a free informational/introductory call on Friday, March 19th at Noon Eastern.”

There will be other initiatives of The Space Between Center, but for now we’re focused on helping small business attorneys develop win-win relationships with clients. The program based in part on the success I’ve had implementing my flat monthly fee model over the last year. This model changed my life almost overnight.

My clients love it.

The members of the Creative Business Lawyer were having success with it in less than two months.

So, I want to share it.

I’m keeping a few new benefits of the new program secret until the call. These new elements will go beyond just learning the business model and provide some tremendous value to the members.

In case you’re wondering – no, it’s not some kind of “private coaching” scheme.

If you are an attorney and want to know what’s going on, join the call. It’s free, so it won’t hurt you to listen in.  Oh, and my friend, attorney, and marketing consultant Ben Glass will be co-hosting the call.  Ben is NOT associated with the program financially, so you know he’ll keep it real.

If you are an entrepreneur, tell your lawyer about this and ask them to listen in on the call.  If you don’t have an attorney using a flat fee monthly model, then we’ll just have to do something about that soon…

Now back to work.