18: How 2 PFL Firm Leaders Have Built Their Practices Using Free Marketing

In this episode of the NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz, we explore the transformative journeys of two entrepreneurial lawyers, Deirdre and Will. Both guests share their experiences of transitioning to estate planning and building successful practices through strategic marketing and business development. Ali emphasizes the importance of loving the service you deliver and provides actionable insights on leveraging free marketing strategies to grow a law practice.

Key Takeaways:

• Love Your Service: Ensure that you genuinely enjoy delivering your legal services to sustain your motivation and effectiveness in marketing and client engagement.
• Free Marketing Strategies: Utilize community engagement, social groups, and personal connections to generate referrals and build your client base.
• Intentional Conversations: Turn everyday interactions into marketing opportunities by naturally discussing your services and how they can benefit potential clients.
• Building Financial Confidence: Investing in your business, even through personal savings or lines of credit, can provide the necessary resources for growth and stability.
• Client Follow-Up: Regularly check in with former clients and professional contacts to maintain relationships and keep your services top of mind.

01:36 Ali discusses having a lead magnet, follow-up system, and a high-value offer like the family wealth planning session, which can engage clients efficiently without traditional marketing expenses

02:35 Deirdre talks about her previous practice of handling family law, probate, and criminal defense, which she found chaotic and unsustainable.

05:36 Deirdre shares the fears and challenges she faced while transitioning to a specialized practice, emphasizing the role of COVID-related financial resources and a shift in mindset towards investment in her business.

08:07 Deirdre attributes her success to engaging with local community groups and social activities, blending personal interests with professional networking.

11:18 Will introduces himself and discusses how his grandfather’s death, leaving behind a financial mess, led him to realize the importance of proper estate planning and the desire to change the way things are done.

12:21 Will describes proposing changes to his firm for better estate planning services, only to be dismissed, leading him to decide to leave and start his own firm.

13:36 Will shares how he officially launched his firm in January 2021 and was ready to start business immediately thanks to the resources provided by New Law Business Model.

14:55 Will emphasizes the importance of having authentic conversations with acquaintances about estate planning, helping many become clients through genuine interactions in social settings.