Profiting by Operating Efficiently Using The MPS 5 Key Focusers

Law firms across the country share with us the exhausting amounts of time and money engaged in a lot (A LOT) of marketing efforts for their small firms. But, typically the activities are prepared in a haphazard manner and rarely would they know what works and what doesn’t. That’s the importance of tracking your efforts and knowing if they produce the results your firm needs to operate efficiently and profitably.

Tracking the results of your marketing activities, is the first step, if your marketing works and your phone is ringing or your website is getting hits, but your follow up lets them fall through the cracks, it’s an absolute waste of money, time and effort. Every business owner’s greatest need is to ensure not only their marketing strategies work, but there is an internal tracking system to ensure those that contact your firm result in actual REVENUE.

The 5 Key focusers follow the MPS process every step of the way which enables you to revise your plan if your efforts are not producing results while ensuring you get the greatest bang for your limited marketing bucks, and show you very quickly what’s not working before your bank account is empty. In addition, the focusers allow your team to eliminate the “reinventing of the wheel” week in and week out. Without the habit of weekly tracking it is virtually impossible to manage the operations within the practice, maintain efficiency and ensure consistent cash flow to cover overhead. Sounds great, but what’s the purpose and goal of each of these 5 key Focusers?!

The Initial Contact Focuser: Tracks the results of your marketing efforts while guaranteeing that the potential client is properly followed up with in a timely manner and that they attend a workshop or schedule an initial meeting. No more backtracking each week.

The Workshop Focuser: Tracks the progress of individuals that registered for a workshop, if an appointment was requested and actual accountability that it was scheduled and completed. We hate to break it to you; you do not get paid for delivering a workshop if the follow up doesn’t happen.

The Pipeline Focuser: Tracks every client scheduled to come in your office to potentially hire you, and the percentage of clients that retained the firm. It’s a little too late to investigate what is impacting your closing rate when there are no money appointments on your calendar or realize your pipeline has dried out because cash flow stops.

The Follow Up Focuser: To track and make certain all client’s and prospects are properly being followed up on to move the company ($$$) forward, each week. Know who is doing what and by when to generate revenue for the firm.

The Cash Flow Focuser: This is the most important focuser that provides the primary focus of your weekly meetings and reporting. In simple terms, identifies all money the firm can expect to collect upon. Cash is King and this simple focuser will keep everyone in the firm (especially the attorney) focused on scheduling appointments, completing work and going the extra mile based on Cash Flow Focuser. You can’t make a difference in anyone life when there’s no cash coming in.

The prime benefit of all forms of tracking is that the results are easily measurable – provided you actually use the tracking system. You can even take it one step further and automate all the tracking with the customized MPS Time Matters Overlay, MPSData™.

At the end of the day, all the focusers allow you to set specific measureable marketing results and track your firms progress (weekly) towards your firms goals. And you will very, very quickly see what’s working and what’s not working before your bank account is empty.

Want to learn more -- join us on the next webinar. CLICK HERE FOR MORE INFORMATION!

HAPPY HOLIDAYS

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Hear From Our Members

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Get To The Core

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Hello My Name is Cash Flow

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What's Your Bottom Line?

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Can You Have the Bubbles & Boxes Conversation With Your Client?

Asset Proection Using Bubbles and Boxes

Action: Dan L., a 79 year old farmer, came in concerned about his family farm and a side business with one of his sons. Dan came to us concerned about what would happen at it all if he went into a nursing home.

Resut: After meeting with Dan and his son and have the Bubbles and Boxestm conversation with them they quickly saw the value and hired us for a $15K fee to protect the farm and business from nursing homes, law suits and other family members.

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Nursing Home Relationships

Offering Estate Planning As An Employee Benefit?

Action: This week we met with the 12 department heads of a local nursing home we work with and presented a brief workshop to show the need of Estate Planning - for everyone!

Result: The nursing home agreed to allow us to offer estate planning to all of their 200+ employee and their immediate families as part of an employee benefit program.

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