Top 5 Ways to Boost Revenue in 2019

Top 5 Ways to
Boost Revenue
in 2019

888-431-1529 rocketmatter.com
Husband. Father.
Animal-lover. Coder.
Software Exec.
Author. Little league
coach. Fighter of hate.
Seeker of wellness.
Larry Port

This is my cat

This is Rocket Matter

When you see
Richard Simmons,
we are doing an
exercise.
GET A PEN AND PAPER
READY!

Tip 1 of 5:
Change Your Mindset

See your firm from 10,000 feet

Work ON your business, not
just IN your business.

Revenue is the total amount of
money you earn.
Net Income is what’s left after all
of your expenses - including your
salary.
Business Vocab Check ✅

EXERCISE
Write down your
revenue and net
income for 2018
and desires for
2019.
WHAT WERE YOUR
REVENUES IN 2018?

WHAT WAS YOUR NET
INCOME?

WHAT WOULD YOU LIKE
THESE TO BE IN 2019?

Expect more
from your
employees.

Employees are there serve your clients
and help you hit your goals. Beware:
•Territory guarding / knowledge hogging.
•Resistance to new process or technology.
•Nagging feelings from your inner voice that an
employee is problematic.
•Anxiousness for the employee’s welfare post-
termination.

Tip 2 of 5:
Eliminate Waste by Going
Paperless
IF YOU’RE NOT
RUNNING A
PAPERLESS OFFICE,
YOU’RE NECK DEEP
IN MUDA (WASTE).

Waste Reduction
“In Lean, waste is bad and must be
eliminated whenever possible, which is
where technology can really shine.”
-Princess Irulan, The Wisdom of Muad’Dib
-Larry and Dave, The Lean Law Firm

I’M A FIRM BELIEVER
THAT THERE’S NO
SINGLE THING YOU CAN
DO TO BETTER IMPROVE
YOUR LAW FIRM THAN
TO GO PAPERLESS.
The Connected Lawyer himself, Bryan Sims

More Reasons to Go Paperless If
You Weren’t Already Convinced
•Increased Efficiency - i.e. waste less time.
•Remote Access - i.e. work wherever.
•Backing Up and Protecting Client Data
- .i.e. peace of mind.
•No More Lost Files - i.e. CYA.
•Stop Paying to Store Paper Files - i.e.
more money in your pocket.

Month by Month Paperless Plan
January
Commit to the
Journey
February
Document the
Process
March
Establish Folder
Layouts and File Names
April
Purchase desktop
scanners
May
Choose and Online
Storage Provider
June
Automate Your Billing
and Collections
July
Automate Simple
Document Production
August
Use Summer
Slowdown to Scan
Backlog
September
Embrace Mobile
Paperless Tools
October
Automate Pleadings
and More Complex
Documents
November
Realize it’s Okay to
Still Use Some Paper
December
Reflect on Success,
Plan Improvements for
2020

Advice on Processes
http://bit.ly/2S3Yn7y

Document Storage

Storage is One Thing, Filing
Another

A Word About File Naming
Conventions
Letter or Ltr
Memorandum or Memo
2018.11.28 or 18.11.28 or 181128
Do all files have dates?

Scanners
Fujitsu ScanSnap ix1500 with ScanSnap Cloud

Advice on Filing & Folders
http://bit.ly/2S3A89D

Document Automation

Tip 3 of 5:
Streamline your Revenue Cycle

71%
Amount collected by law
firms on work they perform.

Revenue Cycle
Awareness
New Clients
Time Capture Timely Invoicing Collections

Better marketing often is not the fastest
way to make an immediate revenue
impact.
Kanban board

Closing and collecting is the first
place to look.

Invoicing & Collections
“There are many reasons for law ﬁrms
leaving money on the table, ranging
from poor billing practices to the
unpalatable nature of asking clients for
money to a lack of investment in good
technology.”
-Larry and Dave, The Lean Law Firm

Electronic Invoicing

Tip 4 of 5: Embrace KPIs

KPI stands for Key Performance
Indicator.
Business Vocab Check ✅

http://www.leanlawfirmbook.com

Tip 5 of 5: Market Smarter

The Funnel: A successive series of
stages
100K Facebook ad views
1.5K Website views
45 contacts
10 new clients

Word of Mouth: Still #1

How NOT to ask for a referral:
CAN YOU GIVE THE NAME OF
SOMEONE THAT MIGHT WANT TO
HEAR ABOUT MY SERVICES?

How to PROPERLY ask for a
referral:
CAN YOU THINK THROUGH YOUR
ROLODEX FOR A SECOND…DO YOU
KNOW OF ANYONE THAT’S HAVING
TROUBLE WITH X, Y, OR Z?
You’re doing a favor!

EXERCISE
Write down your own
referral request statement
and three people you can
call this week.
CAN YOU THINK THROUGH
YOUR ROLODEX FOR A
SECOND…DO YOU KNOW
OF ANYONE THAT’S
HAVING TROUBLE WITH X,
Y, OR Z?

Lean Marketing
•How to choose a web designer
•Website Metrics
•SEO
•Content Marketing
•Review sites
•Advertising
•Social Media

Larry Port | larry@rocketmatter.com
Thank You!
FL CLE# 3242

Top 5 Ways to Boost Revenue in 2019

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Top 5 Ways to Boost Revenue in 2019