12: $15k Client Loss ... and How Caring, Holistic Lawyers Can Do It Better

In this episode, join Ali as she shares a rather eye-opening negative experience with an asset protection lawyer, unearthing critical lessons for lawyers striving to elevate their services, and uses it as a springboard to discuss the powerful upside LIFTed Business Advisors can offer their clients. Ali’s encounter provides a unique window into the shortcomings of a conventional approach and sets the stage for a deeper understanding of what truly sets apart a transformative legal practice.

 

Through her insightful analysis, Ali reveals how a transactional mindset, even from a skilled lawyer, can fail to resonate with clients seeking comprehensive and personalized guidance. She highlights the pitfalls of a standardized service model and emphasizes the importance of adapting to each client’s unique needs and circumstances.

 

Key Lessons and Insights for lawyers seeking to implement a holistic service model in their businesses:

• The Role of a LIFTed Advisor: Explore how lawyers can evolve into what Ali has termed a “LIFTed Business Advisor”, offering holistic guidance encompassing asset protection, tax strategies, entity management, and intellectual property.
• Transcending Transactional Limits: Discover how moving beyond transactional legal services to deeply understanding client needs can create lasting relationships and trust.
• Customization is Key: Learn from Ali’s story about the importance of tailoring services to each client’s unique situation rather than relying on a cookie-cutter approach.
• Engagement Strategies: Understand where the asset protection lawyer missed opportunities in client engagement and how LIFTed Advisors can capitalize on these moments to deeply connect with clients.
• Building Comprehensive Solutions: Gain insights into developing comprehensive solutions that address not just the immediate legal needs but the overarching goals and challenges of business owners.

This episode is particularly valuable for lawyers looking to redefine their practice and adopt a holistic recurring revenue-based legal service model. Ali Katz’s narrative highlights the significance of this transition, offering practical strategies and insights to develop a practice that goes beyond traditional legal services. It’s a call to embrace a more integrated, client-focused approach, turning legal advisory into a journey of collaboration and mutual growth. Tune in to learn how to become an indispensable asset in your clients’ business and personal growth.

 

Interested in learning more about becoming a LIFTed Business Advisor? Apply for a call with a Law Business Advisor at newlaw.co/show.

 

02:15 Ali reflects on her journey from being an associate lawyer to realizing the need for a new kind of business advisor, inspired by her experiences.

 

04:33 Ali explains that as a lifted business advisor, you’re not selling documents or hours. Instead, you’re selling a comprehensive package of outcomes, support, guidance, and coordination, allowing clients to make informed decisions with the right advisors' help.

 

09:17 Ali highlights the benefits of staying in touch with clients between booking and appointment, even if the communication could be improved.

 

13:39 Ali notes the importance of clients feeling confident and not perceiving the service as cookie-cutter, emphasizing the need for personalized engagement.