Supporting Law Firms Owners to Increase Profits by £50,000 in 6 Months, Transform their Firms into Highly Profitable & Valuable Businesses, & Prepare for Succession/ Exit using the P.R.O.F.I.T System.
If you own a law firm you’ve probably been frustrated with some business coaches just “not getting” the unique things about how you work. Here are 3 common things that I think most business coaches miss: 1: It’s a profession - Lawyers are professionals and they often approach "running a business" differently; this has to be taken into account when supporting the owner to lead and manage their team. - Change is happening quickly & the law environment is becoming more commercial. Leading change is difficult and getting the pace of change right for Dept Heads and their teams is critical. 2: You don’t need more Business Development (sales & marketing) - Most partners of law firms think it’s what they want but what they really want (need) is improved profit margins and cashflow - Marketing companies and coaches will tell you more/ better marketing is the answer to everything but it’s not - If you don’t get on top of your margins and cash flow first, the marketing is just going to increase the amount of low profit work you’re doing and possibly make cash flow worse 3: Processes and Expensive IT Systems aren’t necessarily going to make things better - It’s undoubtedly going to help things run smoother but if your team aren't fully bought into and engaged in your business plan then these expensive resources are unlikely to be utilised effectively - It's your team and effective leadership that are the priority in your business; All 3 of these things are interlinked and need to be improved in a co-ordinated manner to be successful. There is no silver bullet; every firm is different, which requires a bespoke programme for your partners and your firm. What would you add? Click here to see more in this short video: https://lnkd.in/dx96ZzwU ======== John McCarthy Guiding Law Firm Owners to Scale Their Practices Global Outstanding Client Results 2022 & 2023 EMEA Client Employee Engagement Winner Website: www.summitbusinesses.com Ring the 🔔on my Profile Connect with me / Follow me ⬆️ 𝙎𝙪𝙗𝙨𝙘𝙧𝙞𝙗𝙚 𝙩𝙤 "𝙏𝙝𝙚 𝙋𝙧𝙤𝙛𝙞𝙩𝙖𝙗𝙡𝙚 𝙋𝙧𝙖𝙘𝙩𝙞𝙘𝙚 𝙉𝙚𝙬𝙨𝙡𝙚𝙩𝙩𝙚𝙧" (𝘾𝙡𝙞𝙘𝙠 𝙃𝙚𝙧𝙚): https://lnkd.in/eNTJbuK9 #law #lawyers #lawfirms #lawfirmmanagement #lawfirmstrategy