Watch the YouTube version of this episode HERE

In this live-recorded episode, Jim and Tyson, delve into the intricacies of managing a law practice. They discuss the critical role of honest self-assessment in recognizing a firm's downward trends, such as cash flow issues and ineffective marketing. 

They also dive into the importance of understanding firm metrics, which metrics matter and why. As well as mistakes they’ve made in the past and what to know to avoid them. 

They also explore the challenges of filtering out low-quality leads, refining intake processes, and aligning marketing efforts with the firm's focus areas. 

• Client management
• Proactive communication
• Client feedback to improve services 

If you feel like your firm is right around the corner from greatness, dig into the data-driven strategies and a strong, client-centered firm culture for skyrocketing your firms success.

01:59 The importance of identifying signals that things are trending in the wrong direction 

05:22 The importance of monitoring and addressing cash flow problems

13:09 Tracking leads, holding team members accountable, and the impact of low expectations on performance

16:35 Signs that marketing is not working

20:37 Strategies for improving conversion rates 

28:35 Identifying red flags in client management

34:23 Creating and implementing core values 

41:48 The necessity of having a system to ensure important tasks are completed before progressing to the next stage

Jim’s Hack: Be on the lookout for people or yourself that use the words: “Sort of …” This is a red flag word phase that means you need to pay attention and clean something up.

Tyson’s Tip: Go back and look at the last ten leads that you lost and see if you can identify the trend. 

Tune in to today’s episode and checkout the full show notes here.