Law Firms:  Would you like to increase revenue (and profits) without having to:

💎get more clients

💎do more work or

💎compromise value or values?

Now what sane person could possibly say no to that?

Well, it may not be as difficult as you may think, although you will have to be open to change.

Right now, whether you like it or not, the firm (in the form of its lawyers) are leaking money left, right and centre.

The question is, are you aware that that is happening?

If you are, that is a very good thing; if you’re not, you need to do some investigating, as I am pretty sure there is not one law firm out there which doesn’t have any leakage.

And that’s a pretty safe bet.

Here are just some of the ways that money is being leaked in the sales cycle:

🟣 Under-estimating.

🟣 Not recording all time.

🟣 Discounting, double-discounting, triple-discounting.

🟣 Over-servicing or doing additional work for free.

🟣 Not getting paid at all!

I think I’ve captured all the main headings but if I have missed anything out, please do tell me in the comments box below. 😊

So why is this happening?

The challenge that most law firms have is a lack of confidence in those who negotiate fees because they fear losing the work or the client.

This is a powerful, yet negative motivator as it means that they are not in charge of those fee discussions, right from the start.

Hundreds or even thousands can be won or lost in a phone call, depending on the competence and confidence of your fee-earners, in having the right conversations with prospects and clients, at the right time.

So how many hundreds of thousands of pounds is your firm losing?

Any idea?

Want to stop your bucket leaking?

This post is dedicated to all those who struggle with saying no.

Isn’t it strange that such a little word should cause so much havoc, angst and fear in the hearts and minds of us humans?

After all, if you turn the letters around to make the word on, there is zero emotion. Zilch. Nada!

Why is that?

Well, I believe it goes back to our childhood and even further ….

It’s to do with wanting to be approved of by our parents and other significant people in our life.

And do you remember when you asked your parents for something, and they said no.

Perhaps you kept on badgering them, hoping they would change their mind.

With exasperation, they would say to you N O spells NO!

Do you remember that?

How painful did it feel?

It didn’t feel great, did it?

You probably felt rejected.

And I believe it goes even deeper than that.

If you think of caveman days, if a person was thrown out of the tribe, then they would probably not be able to survive.

The reptilian part of the brain is still alive today and creates powerful negative emotion.

Not to be nasty but as a means of self-preservation.

Unfortunately, in many circumstances, it is misplaced and unnecessary.

In fact, it is positively damaging.

So let’s take a look at what it’s potentially costing you not to say no in business:

❌ You take on clients who are not the right calibre. They do not pay you properly and are overly demanding.

❌ When someone challenges your fees, you immediately discount without thinking.

❌ When a client asks you to do something at short notice, you automatically say yes. You do not consider whether it’s urgent or not and you do not think about other commitments.

You certainly do not consider your needs.

I could go on ad nauseum.

Instead, let me ask you a question.

Where are you not saying no when it would be much better for you if you did?

When will you start saying no?

With just a few days to go before Christmas, it is a time when many professional people are running around like headless chickens.

On top of their usual, heavy schedule, they have additional tasks to perform such as buying and wrapping Christmas presents, sending Christmas cards and planning meals, to name but a few.

 I can feel the stress ….

If this is you, I do hope you will take time to relax and recuperate over Christmas. 

Then after it is all over, do take time to reflect on 2022.

You may wish to ask yourself the following questions as a starting point:

✔ What were your wins?

✔ What were your challenges?

✔ And what were your insights?

Write down your answers to these questions both from a business and a personal perspective.

That will give you a clearer and more balanced picture of how your year has been. 😊

Reflection is such an important activity, with huge value. Yet if you are super busy,  you may look at this as a luxury or worse still, just don’t think of it at all, because you have no space or time to breathe.

If you are not reflecting on what you have been doing, how do you know whether you are moving in the right direction or not?

The answer is you don’t!

Once you have answered these questions, then you will be able to consider what intentions you want to set for 2023.

You may be wondering what the difference between a goal and an intention is.  The answer, quite simply, is, they are poles apart.

🎯 A goal describes what you want to do in the future. It focuses on external accomplishments and is something you can clearly check off a list: “Learn to speak French”, “Go to the gym 3 times a week or climb Mount Everest.”

❤️Whereas an intention describes how you want to feel. Its focus is internal – on your relationship with yourself.

So which is more powerful you may be asking?

💪 My answer is: intention, every time.

Boom!

Yet we are constantly being advised to strive for goals and it’s not often we hear about intentions. 

I know from my work that sometimes the goals that people are striving towards are other people’s goals and not what the person wants.

For example, if one of your intentions is:

                                          I want to feel peaceful

and you keep this at the forefront of your mind, you will avoid behaviours and situations where you do not feel peaceful. 

This alone would be transformative.

So often, when working with professionals, they put everyone before themselves. 

They completely under-value themselves, do not charge their true worth, work with clients who do not appreciate them and are constantly under pressure.

Does this resonate with you?

Is that their intention?

Of course not and I am sure it’s not yours either.

The truth is, they do not have an intention because they are driven by fear.
 
❌ Fear of losing the client

❌ Fear of not meeting target

❌ Fear of making a mistake

You name it, there’s a fear about it.

                 Higher prices, more impact, greater happiness.

                   Freedom in business your way. Yes you can!

To achieve this, you have to become intentional.

Don’t leave 2023 to chance. 

Set an intention that this year you will get paid your true worth.

And if you don’t know how, a great starting point would be to download my complimentary cheat sheet here https://www.thetrueworthexpert.com/cheat-sheet-get-paid-your-true-worth

Do have yourself a Very Merry Christmas and may 2023 be your best year yet!

When you make a decision to discount because you fear losing the client, it is a decision based on fear.

Maybe you do keep the client but at what cost?

Would you have lost the client if you had not discounted?

You will never know.

You’re always making decisions.  Even when you don’t make a decision, you’re making a decision!

Every day, you make tons of decisions, though you may not think of them as decisions.

You decide what time to get up, what to wear, what to eat, what to do.

The question is, are you making these from a position of power or a position of fear?

A decision made from power is a conscious, rational decision which has been well thought out.

A decision made from fear may be irrational, emotional and a knee-jerk reaction.  Unless it is a matter of genuine safety, decisions made from fear will not work out in your favour.

Ask yourself the following question:

Am I making this decision from a place of power or fear?

If fear, how can I change it to one of power?

Just updated my little book How to Get Paid Your True Worth to align with my True Worth methodology and newer testimonials.

However, although Roger Salvetti is now retired (previously Director at Biscoes Solicitors and all round lovely guy), I did have to keep his wonderful testimonial about the book:

“If there was only one action you took in the immediate future to grow your business, it has to be to read True Worth - a work of genius - and ring Vanessa!”

So if you haven’t read it and you don’t want to wait for the new publication, you can access the current one here:

TRUE WORTH (original)  

Isn’t it time you got paid your true worth?

As the world continues its madness, I carry on sharing wisdom with my clients and followers, or as I see it common sense.

So today I’m going to reveal a true story which may inspire you, as it did the hero or rather heroine of the tale.

One of the delegates in a very recent training session had a lightbulb moment. Normally in every sales meeting, her thoughts were that she must sign the client up.

I call it desperation energy.
The Managing Director loved that expression.

I said here’s what you could say to yourself instead:

Am I right for the client?

Is the client right for the business and

Is the client right for me?
The delegate immediately said:
OMG what a lightbulb moment for me!

This eliminates the need to have to sell.

It’s more honest and you can help people more if there is a good fit.

It changes your energy.

This means that you are just having a conversation to find out if there is a good fit or not.

If there is, great then you can go on and explore further and then discuss your charges.

If it’s not, you can let the prospect go.

In this way, your energy is relaxed, so if the prospect is right for you, they are more likely to want to work with you.

Your fees then become much less of an issue.

Give up hunting on the prairie and become discerning about who you take on.

It works.


P.S. If you want some help with this or other issues you may have around getting paid your true worth, please get in touch.

If not, here’s a simple trick to help you shift your mind-set, so you can.