Fast Forward: Prepare Now to Make Money Later
Lawyers are often so head - down on substantive work that they spend very little time considering their ‘ sales cycle ’, which every business has. Whereas software companies consider metrics like ‘ cost of acquisition ’, law firms merely send out cadres of attorneys to network, with the fervent hope that that activity generates business, at some undetermined point in the future. I remember having a conversation with a lawyer who told me that his marketing goal was to have lunch with a nother business professional every day. I asked him to track how many referrals he got from that. A month later, I asked him how things were going, and he said, ‘Well, I guess I was just having lunch .’ The point is that, while marketing seems inscrutable, the results of your efforts are predictable, to a large degree. If you track your intake, you too can figure out your own cost of acquisition, best sources for ref...