Boring & predictably profitable business strategies

By April 28, 2020Approach, Marketing

There is power in simplicity, especially when running a small business.

You don’t want a complicated business.

You want a boringly, predictably profitable one. Right?

Like Craigslist, for example.

And, by the way, Craigslist has a horrible looking website. Just take a look…

It doesn’t get more boring than that.

But, did you know that Craigslist makes $1 Billion per year in revenue?

And supposedly about 80% of that revenue is profit.

$800 million in profit on $1 billion in revenues.

Nice business.

Boring, and predictably profitable.

How does this apply to your law firm?

Well, let’s start with predictable profitability.

Is your practice predictably profitable? Probably not.

How can you make it more profitable?

And can you make your revenue more predictable? (like your expenses are)

STEP #1…

Figure out optimal strategies for bringing in new business.

New clients might find you if you don’t do anything different than you’re doing now.

But MORE of them will come to you if you use sound strategies and keep refining those strategies.

And more of them will come MORE PREDICTABLY.

Listen…

If the idea of developing marketing strategies for your practice seems daunting, just take a small step.

Read one of these essential books on marketing.

Then read another one.

And keep reading…until the tried-and-true strategies in those books start to make sense.

There is a lot of competition in the legal profession these days. Odds are, your competitors are reading books like these.

So maybe you should too.

Oh, and one more thing…

A lot of lawyers make the mistake of trusting the wrong people to help them market their practices. They trust people who pitch glitzy, get-clients-fast strategies.

Don’t make that mistake.

Stick to the boringly effective methods outlined in these books.

And, if you’re interested in learning effective marketing strategies without reading those books, you can check this out.

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