This is the tale of solicitor Janet, a sole practitioner with a team of fee earners, turning over £750,000 but wanting to grow to £2,500,000 as quickly as possible.
Janet has been in practice for a number of years. On paper, her practice is doing well. Turnover is reasonable and she can take enough drawings to pay the bills but there is not as much left over as she would like at this stage in her life. She has plans to retire in a few years and whilst the equity in the building that she operates from should be enough, there will not be much left over.
She doesn’t want to live a lower quality life in retirement, but a better one.
She knows that if she can change £750,000 turnover into £2,500,000 not only will it give her many more choices now, but it will also give her the freedom of choice whether to sell her practice for a reasonable sum in the future or whether to keep running it whilst not handling the day to day aspects of the practice.
She knows all of this, yet for the last three years the practice has stayed the same; the same turnover, the same profits and by and large the same staff.
What is most frustrating is that she knows that she could reach her targets largely with the same staff, recruiting two or three more fee earners only as the increase in instructions gathered pace.
2016 is the year to finally push on. She has a feeling that if she doesn’t do it this year, not only is it likely that she never will, but there is a nagging doubt that things might actually start to tail off and send her practice backwards. She simply cannot afford to let that happen.
She signs up for a transformative programme designed to help her achieve her growth plans.
A one to one planning session goes through every aspect of her business. Opportunity after opportunity to grow her practice is presented to Janet and she starts to feel rather uncomfortable. A lot of the opportunities she already knew about, but she just hadn’t realised how important they were and didn’t know how to implement them. She now does and resolves to correct this.
She is presented with a marketing masterplan after the session and is glad to know exactly what she needs to do and in which order. This has always been half the problem.
Janet is warned that there is a lot to be done, but assured that she will not have to do this alone but instead will be guided through every step of the process. This takes away a lot of Janet’s concerns.
The first week is invigorating. She takes action and sees instant improvement. The first group call is so refreshing. She hears other solicitors facing the same challenges that she is having and hears them explain how they have overcome them. This gives her the confidence that she really is now on the right path.
The next week is the same, but by week three Janet is reaching overwhelm. She asks for an additional one to one call with the organiser. He listens to her concerns and says not to worry; she has the answer already in her possession. A quick delegation of a few of the core tasks to staff with capacity and Janet is freed up to carry on focusing on the growth of her practice.
The next two months fly by and Janet loves every minute. She has the busiest two months her practice has ever had in terms of new instructions.
She can see her desired growth materialising faster than she could ever have imagined.
Janet feels completely differently about the future of her firm now than she has ever done. She knows that she will reach her goals.
The Fast Track To More Clients Programme is the programme that Janet and many other solicitors have joined to see results like these.
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