Network Your Way to Success

Master The Art and Science of Networking

Networking is not for the faint of heart.

But forging professional relationships is a huge part of building up any law firm.

Ashley Owens - Networking Concierge?? and President of PIM, joined me to break down her pro tips for networking.

Ashely explains her process for event networking, from what to do before the event to the best ways to follow up with the people you meet.

This episode is a game changer if you dread conferences or want to build more professional connections. Find out:

• How to maximize your ROI when attending a legal conference.
• Mistakes to avoid when making a first impression.
• How to connect with the biggest names in the room.

Listen to episode 214 with Ashley Owens here.

The Next Generation of Personal Injury Mastermind

A lot has changed in the world since we first launched the Personal Injury Mastermind podcast in 2020.

We’ve had a ton of great guests, actionable advice, and insightful conversations on the show.

And now it’s time to take Personal Injury Mastermind to the next level with our new PIM Community.

Whether you’re a new attorney or an old hand, PIM Community will be an exclusive one-stop shop for:

• Access to the best lawyers and legal vendors
• Mentoring and networking opportunities
• Private speakers and other events
• And more resources to build an innovative and lasting law firm

The PIM Community will open its doors in January 2024, but we’re accepting applications now.

Find out more and apply for a membership to our new community by going to PIM.org.

Setting Prices at Your Firm? Use This Pricing Tool to Get It Right

Pricing is important.?Pricing is also something most businesses set based on the competition, their own margins, or from gut instinct because they don’t know there’s any other way.

Getting pricing wrong is one of the primary reasons businesses never achieve a meaningful profit.

Whether you’re still selling your time for money or have learned to package what you do into fixed-cost services, consider using Van Westendorp’s Price Sensitivity Meter (PSM) to determine your optimal pricing range so you don’t unknowingly sacrifice the profit you deserve.

Create a Google Form and send it to both former clients and clients who have a reasonable sense of what it costs to hire an attorney for legal services.

Ask them:

• At what price would you consider the product to be so expensive that you would not consider buying it?
• At what price would you consider the product to be priced so low that you would feel the quality couldn’t be very good?
• At what price would you consider the product starting to get expensive, so that it is not out of the question, but you would have to give some thought to buying it?
• At what price would you consider the product to be a bargain—a great buy for the money?

Then you plot the responses on a graph and identify the intersections that suggest optimal pricing zones. The intersections of these curves often yield four prices:

• Point of Marginal Cheapness (PMC)
• Point of Marginal Expensiveness (PME)
• Optimum Price Point (OPP)
• Indifference Price Point (IPP)

Businesses frequently underprice themselves. Don’t do that. Charge what the market is willing to pay and earn as much profit as you ethically can.

The excerpt above is from our guide to law firm marketing. Check out the full guide here to find more actionable marketing insights that other guides leave out.

Building Your Practice On a Firm Foundation

You need a rock-solid foundation if you want to build a successful firm from the ground up.

Joseph Gates , founder of Gates Law Firm , joined me on Personal Injury Mastermind to share how built his practice from scratch just 3 years ago in the middle of the pandemic.

Joseph built on stable personal finances, a relentless drive to improve his craft, and by tapping into a community of peers.

He explains the best ways to open a new law firm and lays out the simple, yet effective question that leveled up his depositions.

Listen to Episode 209 with Joseph Gates

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