Great Life, Great Practice: Four Cornerstones of Law Firm Success
This presentation presents an excellent opportunity to learn the skill set necessary to thrive and grow a successful solo or small firm. These business skills are not taught in law school, and now you have an opportunity to learn them! This will be a terrific investment of your time as a law firm owner.
Topics covered include:
Agenda:
- Introduction
- Speaker Bio
- Housekeeping
- Mindset: New Mindset, New Result
- Four Cornerstones of Practice Growth
- Foundation of a Successful Practice
- Legal Knowledge and Competency
- Ethical Standards and Striving for Excellence
- Time Management
- Planning Your Day
- Six Key Strategies
- Client Selection
- Time Template
- Daily Focuser
- Interruption Log
- Question Batching Form
- Tame Your Email Box(es)
- Client Development
- Marketing Strategies
- Develop Systems to Maximize Lead Conversion
- Direct Response Marketing
- Referral Marketing
- Referral Marketing to Client Base
- Community Outreach
- Digital Marketing
- Building a Great Team
- How to Find Quality Hires
- High Cost of Employee Turnover
- Strategy to Build a Great Team
- Cash Flow & Profitability
- Profit vs. Non-Profit
- Profit First Concept
- Sales – Profit = Expenses
- Conclusion
- Key Takeaways
Duration of this webinar:
60 minutes
Originally broadcast:
August 11, 2023 11:00 AM PT
Webinar Highlights
This webinar is divided into section summaries, which you can scan for key points and then dive into the sections that interest you the most.
Kimberly Lee has an extensive background in law and has held roles in various legal organizations. Kimberly begins her presentation on small law firm practice management, emphasizing the importance of learning from her past mistakes. She advises the audience to minimize distractions by turning off phones and emails to focus on the presentation.
Kimberly stresses the importance of mindset and time management for law firm success, noting that being a good attorney doesn't automatically make one a good business owner. She introduces the concept of the four cornerstones of practice growth: time management, client development and marketing, building a great team, and cash flow and profitability. Time management is highlighted as a foundational skill necessary for effective marketing and profitability. Kimberly encourages the audience to keep an open mind and to start with a strong foundation in legal skills.
Kimberly discusses the importance of client selection, using the Pareto principle to identify good and bad clients. She introduces the Client Selection Matrix to help evaluate clients based on various criteria. The concept of a time template is introduced to help structure an ideal work week, allowing for better focus and productivity. Kimberly emphasizes the use of a daily focuser and interruption log to manage daily tasks and minimize distractions. She advises on batching questions from team members to improve efficiency and reduce interruptions.
Kimberly shares strategies for managing emails, emphasizing the importance of processing emails rather than just checking them. She introduces the Inbox Zero system to help manage and reduce email clutter. Client development and marketing strategies are discussed, including the importance of defining ideal clients and tracking lead conversion rates. Kimberly suggests various marketing approaches, such as direct response marketing, referral marketing, and community outreach. She highlights the importance of managing the initial client experience and maintaining a strong online presence.
Kimberly advises on building a great team, emphasizing the importance of hiring based on integrity and work ethic rather than just skills. She discusses the cost of employee turnover and the importance of proper onboarding and training. Feedback and motivation are crucial for team members, especially for newer generations who require constant feedback. Kimberly recommends the book 'Hire Slow, Fire Fast' for more insights on team building.
Kimberly discusses cash flow and profitability, emphasizing the importance of focusing on net income rather than just revenue. She introduces the 'Profit First' concept, which prioritizes profit before expenses. Kimberly suggests setting up different bank accounts for profit, owner's pay, taxes, and operating expenses to manage finances effectively. She recommends starting with a small profit allocation and gradually increasing it to build a habit of profitability. Kimberly concludes by summarizing the four cornerstones of practice growth and their role in achieving a successful and fulfilling legal practice.
Please note this AI-generated summary provides a general overview of the webinar but may not capture all details, nuances, or the exact words of the speaker. For complete accuracy, please refer to the original webinar recording.
Speaker

Kimberly T. Lee
Attorney at Desert Law Group
Kimberly Lee is the founder of Desert Law Group, a Trusts & Estates
Law firm in Indian Wells, California. In addition to managing her
busy law practice, Kimberly serves as the Education Co-Chair for the
Solo Small Firm Section of the California Lawyers Association
(“CLA”) as well as being one of the Update Authors for CEB’s Estate
Planning Libraries. She is the past President of the Desert Bar
Association and the Desert Estate Planning Council. Read More ›
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