The Business of Law with Joshua Baron

In this brief episode, Josh shares a powerful rule that can make or break a referral relationship: one strike, and you're out. This refers to the importance of responding quickly to and taking good care of referred clients because one bad move can cost you future business with a referral partner. 

In this episode, Joshua discusses the importance of delivering a top-notch customer experience by seeking for opportunities to go the extra mile. For more information on this topic, check out Chip and Dan Heath's "The Power of Moments: Why Certain Experiences Have Extraordinary Impact".

In this episode, Joshua references "The 4 Disciplines of Execution" by Chris McChesney, Jim Huling, and Sean Covey, specifically the importance of distinguishing between lead and lag indicators and focusing on what you can control when it comes to building referral relationships that last. 

"Price is a multiplier and it might be the most powerful multiplier. When you quote a price, you're telling the client how important the case is to you and how important it should be to them. When you raise your prices, it transforms the kind of service you can provide. Raising your prices has a ripple effect on your whole business. It's a single choice that makes a hundred other choices for you" (pg. 28-29 pf Criminal Defense Referrals)

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In this episode, Josh discusses finding the right networking style for you and shares a simple formula that can help you decide how many referral sources you actually need.

But how many referral sources do you actually need?

Here's the formula: Number of Referral Sources x Cases Per Source x Average Case Value - Expenses = Income

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In this episode, Joshua shares a story about his grandfather's knack for networking and the importance of playing to your strengths when it comes to building referral relationships and growing your practice. 

In this brief episode, Joshua discusses the importance of diversifying your referral sources and cautions against solely depending on any one referral party. If any one source makes up 20% or more of your revenue, they're not your partner. They're your boss. Now, that may be a reliable source and a sustainable path for some, but not all. If you're worried current clients or partners may look elsewhere for legal counsel in the future, now might be the time to explore other referral sources.  

In this episode, Joshua discusses the third category of referrals, which may be the farthest from actual money, but which can be integral to building long-lasting referral relationships. Let's be honest, it can be very awkward to ask for referrals. But, what if we instead asked our lawyer friends if we could have lunch with other attorneys they know? Don't put yourself above doing favors and waiving the fee for a fellow practitioner. Chances are, you know lawyers who know lawyers who have clients that you can help. Playing to your strengths can help expand your network, grow your practice, and cement your reputation as the trusted criminal defense lawyer.  

In this episode, Joshua discusses the power of building referral relationships with other attorneys. Your friend, the divorce lawyer, may know of a former client who is now in need of criminal defense expertise. Or, a fellow criminal lawyer may know of a co-defendant that needs representation. These are great opportunities to do them a service and meet the need of their dear clients. Take good care of those clients, and other attorneys will knock at your door the next time they have a case out of their wheelhouse.