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LawBiz® TIPS – Week of September 23, 2014

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LawBiz(r) newsletter

Peter Drucker said that the single most important goal of every business is to attain and maintain customers. Most lawyers believe their number one challenge is to attain clients. One must wonder whether, if this is the number one challenge, why then do so many lawyers say that "law would be great if it weren't for clients; clients can be a pain."

However, the real issue is collecting the billings for work already performed for clients already attained. On more than one occasion, I have advised my clients to ignore their marketing efforts for a time and focus their energies on reducing their accounts receivable. They thanked me for the substantially increased revenue that resulted, all without more work.

If you are selling your firm, see our 4 CD special below. It will help you value/price your firm, market it for sale, and you will also learn about post-sale considerations. You can also list your law firm for sale with us.

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Warning: Fake Firms Might Be Operating with Your Identity

Stolen bank and credit cards. Hacked computer systems. Diverted e-mails. Phishing scams. The world today is a minefield of identity theft explosives ready to discharge at any moment. As if it weren't difficult enough to operate in this world of identity theft, your entire law office "persona" might be at risk.

According to "Fake Law Firm Websites Use Real Firms' Photos and Info, but Alter Contact Details," a 2014 abajournal.com article by Martha Neil, fake law firms are establishing what appears to be a legitimate Internet presence "to scam would-be legal clients" by stealing parts or the entirety of real firms' websites and using that material for their own websites. For example, Dovernor Chambers, a fake law firm that claims to exist in the United Kingdom, has a website featuring wording from the websites of real law firms, and for a while it also contained the picture, lifted from a law firm website, of a lawyer in his Kansas office.

Another way that identity thieves steal lawyers' identities is through "typosquatting." In "Law Firm Sues over Doppelganger Domain Name, Says Infringing Website Is Intercepting Attorney Email," a 2012 abajournal.com article, Neil reported that a New York firm sued a person who took a deliberately confusing website name and, through it, is intercepting the New York firm's e-mail. In an ironic twist, the New York firm is a firm that specializes in intellectual property and protecting clients' intellectual property and brand names. Joseph Gioconda of the Gioconda Law Group said that the firm periodically analyzes its domain name portfolio, just as it tells its clients to do, and in this way found the infringer.

Unfortunately, some of the identity scams perpetrated on law firms, such as website theft, are difficult for the legitimate lawyers to detect and, thus, guard against. Others, such as typosquatting, can be stopped with some vigilance. To protect your name, goodwill, and bank account, make sure that you include in your schedule time to execute some identity theft offense.

Law Firm for Sale

The Complete Audio Guide to Selling Your Practice

Law Firm for Sale

$149
until Oct 1
(reg. $247)

To Order:
1-800-837-5880

or order online at lawbizstore.com.

4 CD Set:
Reveals insider information that is sure to go a long way to help achieve optimal results while transitioning out of the practice of law.

Throughout these 4 CDs, presented by Ed Poll, JD, MBA, CMC, listeners will learn about:

  • valuing and pricing a firm

  • marketing its sale

  • other post-sale considerations

Listen to an audio excerpt.

IN THIS ISSUE:

Warning: Fake Firms Might Be Operating with Your Identity

Law Firm for Sale (4 CD Set) - 40% OFF!

Video: Networking

FEATURED VIDEO:
(Click image to view)

Ed Poll on YouTube

Video: Networking 

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New Life After Law Coaching Program

 

CLIENTS SAY:

"Ed's command of the podium and his connection and interaction with the audience were outstanding. His skills enabled us to successfully implement a new culture into the organization without damaging our relationships with outside counsel."

LS
Torrance, CA


"When I had my own private practice as a solo practitioner, I wanted to run my office as efficiently and profitably as possible. I researched business coaches and discovered that most had "passive" models as their basis for coaching, i.e. they would promise all the things they would do for my practice without my having to invest time and energy into the process. I'm so glad I chose Ed Poll instead, for he had an "active" model, i.e. how much I got out of the coaching was directly dependent upon what I put into it. Over a period of six months, Ed conferenced with me and gave me weekly assignments for structuring my practice as well as giving me tips on how to work with clients from the initial interview through to the end of the case. After working with Ed, I didn't have a single outstanding account receivable over $500. The time I spent working with Ed was invaluable and I would recommend him to any attorneys interested in improving the quality and profitability of their practices."

JL
Los Angeles, CA

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Ed Poll, LawBiz® Management

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800-837-5880

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