Wednesday, August 29, 2012

Quick fix for cash flow problems?

If you don't have a solid set of marketing habits- processes around staying in touch with former clients, connecting regularly with referral sources, getting into the world and talking with people about the kinds of problems you solve- you are leaving the growth of your practice, and your income, to chance. What you aren't doing today will show up as a cash flow problem in a couple of weeks or months, or next year, depending on how long your "sales" cycle is.

You must make it as easy as possible for the people who have the kind of problems that you solve to find you, choose you, and engage you when they need you. Consistency is not optional.

Take a look at what you've been up to in the past months. Are you seeing the results? Look at what you're doing right now, this month. What does that tell you about how your practice is going to look in the future? Will you be crunched at year-end or socking away cash to cover taxes?

Time to close the books on August. It doesn't take a full year-to-date analysis- you know if you're on track to make whatever you targeted to make this year. If you aren't on track, make September a transition month. New resolve. Get out of your office, off the listserves, and into your clients' communities as the best lawyer for the lucky ones who hire you.