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IS YOUR LAW PRACTICE OPTIMIZED?

So, today’s post is, “Is your Law Practice Optimized?” This post will guide you through a critical thought process to evaluate and optimize your readiness in addressing your Law Firm’s present and future business challenges and opportunities, using a high-level (CEO/Managing Partner level – Practice Management Planning Solution), that we simply refer to as a Practice Optimization Solution. To assess if your firm is strategically optimized, consider the following questions:

1: Do you currently have in place, a high-level (CEO/Managing Partner level), Practice Optimization Solution in place that helps you strategically plan and tactically manage and optimize ALL key aspects of your business?

2: Does your high-level Practice Optimization Solution help you “strategically” plan, document, and manage all your firm’s strategic objectives? Does it help you “tactically” prioritize and implement your objectives, while actively manage accountability with others? Does your current solution help you actively manage your organizational growth objectives, while monitoring your progress and effectiveness in ALL key aspects of your business? We know it’s a mouthful…but if you don’t have a Practice Optimization Solution like this in place, why not?

3: If you do have such a plan in place, is your high-level Practice Optimization Solution platform “independent” from your firm’s operational software platforms? If not…why not?

If you don’t have an independent high-level Practice Optimization Solution in place, the utility value and high R.O.I. is worth consideration. The benefits of having such a powerful solution in place cannot be overstated, especially one that remains independent from your daily operational software platforms. Why is this important? Consider these three points:

KEY CONSIDERATIONS:

  • FIRST CONSIDERATION – A high-level Practice Optimization Solution ought to function independently from the daily operational software platforms currently utilized within your business. We hold the conviction that utilizing such a powerful management planning solution independently from other software platforms is crucial for strategic planning, tactical implementation, active management, and performance monitoring across the entire organization. Why? Because most law firm (and general businesses for that matter) software solutions are “Operational Components” to the business. While Operational Component software is extremely important to the daily operations of the practice, they DO NOT serve as a “Centralized Strategic Practice Management Command and Control Center” for ALL strategic & tactical planning and management of the business. The next point explains why…
  • SECOND CONSIDERATION – If you did have such a high-level Practice Optimization Solution in place that was not independent of your operational component platforms, component replacement would not be possible, and this could negatively impact your business operationally and financially. What has become commonplace over the past two decades is the attractiveness of having “turn-key” solutions. We recognize there are scenarios and operational advantages where turn-key solutions can be very beneficial in daily operations (such as Matter Management systems integrated with Time and Billing systems integrated with Payment Collection services, etc.). “Turn-key” solutions often present significant operational and utility value for a law firm, making sound business sense until they fail to meet performance expectations. Turn-key solutions might present more challenges and potential risks if your needs or expectations change (which is often the case) or if operational components of the software fail to meet your needs or expectations. This could lead to the perilous inability of substituting non-performing operational software components for best-in-class components. The inability to substitute nonperforming or underperforming operational components can also become extremely expensive and disruptive to staff performance and client deliverables. This could ultimately have a negative and measurable impact on your financial results.
  • THIRD CONSIDERATION – While the operational software component integrations are valuable for the daily business operations of your law practice, they are not substitutes for high-level strategic and tactical management planning solutions. If your high-level Practice Optimization Solution resides within your “turn-key” operational software platform, replacing underperforming components within the platform, will not be feasible, and as previously mentioned, this could ultimately have a significant negative impact on your practice productivity and financial results. For these reasons, we believe keeping the high-level Practice Optimization Solution independent from your operational software platforms will keep your strategic planning in an optimized position.

ADDITIONAL CONSIDERATIONS:

  • The high-level Practice Optimization Solution under discussion, should encompass not just the administrative and operational facets of your Law Firm, but in all areas of your business including: Human Resources, Technology, Data Security, Artificial Intelligence, Business Growth, Sales & Marketing, Business Interruption, and Business Succession Planning to name a few. Should your existing high-level Practice Optimization Solution fail to cover all these aspects (or other areas), and should you desire to have an independent Practice Optimization Solution as outlined above, your search ends here…

THE SOLUTION:

GMS Business Consulting, Inc. has developed a high-level Practice Optimization Solution called TAP. It’s a powerful Tactical Action Plan that may be exactly what you need to strategically optimize your Law Firm or practice. When you have a high-level Practice Optimization Solution in place like TAP, you’ll position your Law Firm to gain a high Return on Investment, and you’ll experience Peace of Mind. To learn more about TAP…OR… to schedule a Free/ No-Hassle/ No-Sales Pitch TAP Demo, simply click one of the buttons below:

Learn More about TAP
Schedule Your TAP Demo

We hope this post has been informative and helps you in selecting and implementing a high-level Practice Management Planning Solution like TAP, to ensure that your law Firm is strategically optimized. When your Law Firm is strategically optimized, you’ll position your Firm for a high Return On Investment, and you’ll gain peace of mind…

GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and business professionals with Value-Accounting Services, Business Management & Development Services (utilizing our TAP Solution), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses with a high return on investment and peace of mind.  (We do NOT provide investment advice.)  Contact Us If you would like to learn more about our services, especially TAP, our high-level Tactical Action Plan Solution, designed to help you strategically and tactically optimize your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

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EFFECTIVE MONITORING & EVALUATION

Effectively Monitor & Evaluate Your Progress

Effective Monitoring & Evaluation is the final point of discussion in Part-3 (of our 3-Part series) of posts centered on establishing and implementing an effective Master Action Plan (M.A.P.). As you may recall, Part-1 focused on Strategic Planning, and Part-2 focused on Tactical Execution & Management. All three segments are essential components to the overall success of your M.A.P. As mentioned in our previous post, the three stages of an effective Master Action Plan include:

  • PART-1 – Strategic Planning
  • PART-2 – Tactical Execution & Management
  • PART-3 – Effective Monitoring & Evaluation

OVERVIEW:

Regardless of ones title or position in a firm, most of us will at some point have limited to extensive management oversight and responsibility. It is therefore necessary to apply effective monitoring and evaluation tools and techniques within a Master Action Plan in order to effectively monitor and evaluate progress. Whether it be a sole practitioner, Associate, Partner or an Office Managing Partner, effective monitoring and evaluation must take place. It becomes MOST CRITICAL, if you have management oversight over employees and/or over practice operations and its’ overall success; effective monitoring and evaluation of progress is essential.

Caution on Information Overload

That said, at GMS we have found that in today’s digital world, we are often times overwhelmed with data, data and more data. When it comes to effective monitoring and evaluation our progress, often times the software we use produces such immense amounts of data, that it can also become too granular for our specific needs. This can often result in that age-long saying that “We can’t see the forest through the trees”. We then risk becoming locked into becoming micromanagers in terms of data evaluation and management, when in fact we may also need to be macro managers as well. This is where the challenge of merging or balancing these two functions becomes both art and science.

HOW TO:

Effective Monitoring & Evaluation

Each Master Action Plan (M.A.P.) should be standardized in terms of establishing parameters for goals and objectives, yet be designed to meet the specific needs of each intended user, and to provide management with effective monitoring and oversight. For example, Summary pages may be utilized to provide management with just enough information to measure the resulting effectiveness and progress of those he/she has responsibility for in terms of management oversight and mentoring. Yet for the manager’s specific goals and objectives for themselves, their parameters should also be designed to accommodate the appropriate detail they specifically need to effectively monitor and evaluate their own individual progress. As you drill down to the front-line workers, their Master Action Plan should also be designed to accommodate their specific goals and objectives in a more granular fashion, yet have the flexibility built in for any management oversight they may have. So how do you accomplish this balance?

  1. Assess the organization’s need of a Master Action Plan that reflects their vision and goals for the short/medium/and long term.
  2. Assess the vision of the organization in terms of the number and type of staff needed to successfully operate their organization.
  3. Assess each employees specific responsibilities, management oversight, and the goals and objectives they need to achieve in accordance as to how their performance will ultimately be measured.
  4. Assess what information you need to effectively monitor and evaluate others without getting too granular.
  5. Assess what information you need to have, and how it will be monitored and evaluated for YOUR performance.
  6. Combine all the above into a Master Action Plan wish list.
  7. Then begin searching for an existing Master Action Plan that meets your needs or design your own in accordance to the above stated guidelines.

CONCLUSION:

It comes down to three choices

  1. You can research, design and implement your own solution. This is certainly a feasible option, but it also comes at a price too…or
  2. You can research what platforms exist in the marketplace that would meet your needs in terms of: templates, relevance of templates and content to support your business, supported with experienced consulting/ coaching/ and mentoring. This option comes at a price too…
  3. You can consider speaking with us about our M.A.P. solution. You’ll discover what’s included, the pricing, and whether it is the best fit for you and your organization.

Our M.A.P. Solution

This sounds self-serving to say this, but we have designed and provide a Master Action Plan solution that accomplishes all that we have discussed in these past three posts, including: Strategic Planning, Tactical Execution & Management, and Effective Monitoring & Evaluation. We designed our Master Action Plan solution not by accident, rather out of necessity, based on several decades of experience working for national and international business consulting firms, helping businesses and business professionals across various industries on planning how to meet their goals. Quite honestly, we found nothing in the marketplace that comes close to meeting our organization’s needs and the needs of our clients, as the solution we provide (by God’s grace and leadership.). Our solution is called “M.A.P.“…it’s our Master Action Plan. We have specifically designed 6 versions of our M.A.P. solution in order to meet the needs of:

  • Independent Lawyers
  • Lawyers within Law Firms (Associates to Partners)
  • Law Firms (for Managing Partners)
  • Non-Profit Organizations (Presidents & CEO’s of Schools/Universities/Foundations etc.)
  • For-Profit Organizations (Corporate CEO’s / Presidents)
  • Entrepreneurs

Lastly, keep in mind that having Master Action Plan templates are extremely important, but it’s really only half of the equation for having a successful Master Action Plan. The other half of the equation is found in the quality of experience and the support provided by mentoring/ guiding/ and coaching clients throughout the process. From planning and strategy, to completion and implementation and from monitoring to evaluation. This is how an ordinary business plan becomes a successful, effective and powerful Master Action Plan. We have the M.A.P. solution, and we know every business and business professional has the need of one (whether they realize it or not!). The questions are: 1) Do you see your need of one, and 2) Are you ready for one? So once again, you have three choices…

As we always say, do your own research, if you’d like to…speak with us, great. If not, that’s ok too. Either way, you’ll put yourself in a better position to make a better informed decision… regardless of the choice you make. We’re here to help our clients and prospective clients, not to hassle them. We hope you have found our last three posts to be helpful and insightful.

GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and other business professionals with Accounting Services, Business Development Services M.A.P., Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

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TACTICAL EXECUTION & MANAGEMENT

TACTICAL EXECUTION & MANAGEMENT– is Part-2 in our 3-Part series for creating an effective and successful Master Action Plan. In our Part-1 post, we addressed the essential starting point and purpose of Strategic Planning. Today’s post addresses the need for Tactical Execution & Management to reach your goals and objectives that were established in your Strategic Planning. As mentioned in our previous post, the three stages of an effective Master Action Plan include:

  • PART-1 – Strategic Planning
  • PART-2 – Tactical Execution & Management
  • PART-3 – Effective Monitoring & Evaluation

PART-2 – TACTICAL EXECUTION & MANAGEMENT:

Tactical Execution & Management is the critical component to achieving the goals and objectives in your Master Action Plan. Without Tactical Execution & Management , your strategic planning becomes just wishful thoughts and dreams. Also, bear in mind, that if Strategic Planning is where successful results begin, then Tactical Execution & Management determines how your results will end…either in success or failure.

So, once you have completed the Strategic Planning phase within your Master Action Plan, and have identified your key goals and objectives, then you need to apply Tactical Execution & Management by:

  • Establishing Action Steps for each Goal
  • Prioritizing the Action Steps for each Goal
  • Assigning responsibility for each Action Step to the person/ team or group to complete.

ESSENTIAL ELEMENTS:

We’ve established that Tactical Execution & Management is essential, and this needs to be approached and implemented in a systematic, disciplined, and practical manner. Below are a few “Essential Elements” to Tactical Execution & Management based on our Best Practices approach:

  1. ACTION STEPS – These need to be identified, documented and prioritized in a sequential order as they need to enable the person/ team/ group to progress from one Action Step to another. If this is not done, then your progress for completion may become delayed, disjointed, and may ultimately result in a failed goal or objective. A most simple yet illustrative example is; that each Action Step must be prioritized in a specific order…just as it would be essential in teaching a child to tie his/her shoe. One mis-aligned step in the process, and the results are clear. Yet when Action Steps are properly identified, documented, prioritized and completed, these result in a progressive process towards achieving your goals and objectives.
  2. DEADLINE/BENCHMARK DATES – All Action Steps must have established deadlines or benchmark dates. Without deadline dates, there is no sense of urgency, commitment, need of completion nor the ability to move forward in a progressive manner to the next Action Step. By establishing and adhering to deadline dates, progress is made, and the next step can be engaged in a logical and methodical manner.
  3. ASSIGNMENT OF RESPONSIBILITY – All Action Steps must be assigned to someone responsible for completing the task. The assignment of an Action Step to an individual places the responsibility for completing a specific task by a certain date. Assigning personal responsibility establishes participation, responsibility and accountability. Assignment of responsibility also provides the evidence of performance in how we gauge and measure an individual’s contribution and value to a group or organization, and is linked to the overall success or failure in achieving the stated goals and objectives.
  4. PRIORITIZATION OF IMPORTANCE – Each Action Step must be prioritized in terms of importance to achieving the stated goal. Prioritization also aids the individual responsible for completing the task by providing scheduling guidance, whether it should be high or low on their list of other tasks they may be accountable for. Given that there could be many Goals and related Action Steps in a Master Action Plan, both must be prioritized in terms of their importance and timeliness of completion in order to achieve the organization’s goals and objectives.
  5. STATUS OF COMPLETION – Each Action Step must be monitored with a status of completion. Designating whether an Action Step is completed (with either a “Yes/No/IP” (In process) status), allows management evaluate and measure their progress. This status benchmark must be used to monitor the progress of the designated individual, team or group as to whether they have been successful in completing the specified and assigned Action Step in a timely manner.

CONCLUSION:

As stated earlier, without Tactical Execution & Management, your Strategic Planning becomes nothing more than an exercise in listing dormant and unfulfilled dreams. We would never want that to happen to you or to any of our clients. That’s why we developed the M.A.P. solution.

The M.A.P. solution that GMS Business Consulting, Inc provides, delivers all you need for Strategic Planning and Tactical Execution & Management for you and your organization, each and every year. M.A.P. is a strategic and tactical Master Action Plan that sits above all your business operating platforms, time and billing platforms, sales & marketing platforms, inventory control platforms, communications platforms, and data storage and recovery platforms. Those are all “COMPONENTS” within your M.A.P. All of those platforms may change, merge, be substituted or disappear each year. Your M.A.P. solution will provide the strategic evaluation and planning along with the tactical execution and management for all facets of our organization, year after year. Our M.A.P. solution helps you to define your vision, how to establish a strategic plan to achieve your vision, and then how to successfully implement and manage the action steps necessary to meet your goals and objectives for your organization. This is your road M.A.P. to your success.

All businesses should have a M.A.P. to guide, direct, execute and monitor its vision and progress. Contact Us if you have any questions or if we can help you to Strategically Plan and Tactically Execute & Manage your business with success and piece of mind.

Our next Post (Part-3), will focus on Effective Monitoring and Evaluation. See you in a couple weeks. Have a successful and blessed week.

GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and other business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

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STRATEGIC PLANNING

Strategic Planning is where successful results begin. This is Part-1 of a 3-Part series of an effective Master Action Plan. The 3 parts we’ll address over the next 3 posts include:

  • PART-1 – Strategic Planning
  • PART-2 – Tactical Management & Execution
  • PART-3 – Effective Monitoring & Evaluation

PART-1 – STRATEGIC PLANING:

Strategic Planning is where the Master Action Plan for your law practice or business “begins.” I’s vital to establish who you are (as the CEO and as a business), and this takes some critical thought. You need to define the products or services you’re offering to potential clients or customers, and why they should buy you and your firm versus your competitors. You also need to describe the direction your organization is heading in the future, and why. You clients and customers want to know…

Strategic Planning is critical, as it establishes and outlines from the outset your vision, mission and goals of your organization. Without strategic planning, your organization will have little or no direction or impact, and your target market will see this one way or another. Think of strategic planning in these simple terms: It’s like telling someone to get in the car and drive…and they respond, “Why? Why am I driving? What for? Why do I need to drive? Where am I going? Will you give me directions? What can expect along the way? When will I get there? Are there any landmarks to where I’m going? How long will it take? How will I know when I get there? What do I get in return for driving there?”

CONCLUSION:

Strategic Planning is your starting point. Based on the amount and quality of time you invest to strategically plan, will greatly impact the road and journey you’ll experience either to success, frustration or failure. The degree of strategic planning you commit to your organization, will significantly impact all areas of your organization, whether for good or bad.

So, how can you as the CEO of your organization, keep all this strategic planning and information organized, documented, usable, practical, measurable and efficient? Ho you do this will also greatly impact your level of success. That’s why at GMS Business Consulting, Inc. we provide a powerful business solution called M.A.P. (it’s a Master Action Plan) designed to help any lawyer, law firm, for-profit or non-profit business to strategically plan, manage and grow their organization.

Our M.A.P. solution is NOT a matter or case management or time & billing solution. This is a solution on a significantly higher-level of strategic planning and implementation than any solution you may have. All your important business strategies and components of your organization will fall under the strategic planning umbrella of your M.A.P. solution. Your M.A.P. will be your strategic “Command-and-Control-Center” for all aspects of your organization. Everything within your organization becomes supportive or subordinate to the directives within your M.A.P. such as:

  • Personnel – Goals, Expectations and Performance
  • Management – Goals, Expectations and Performance
  • Product/Service Development – Goals, Expectations and Performance
  • Technology Infrastructure – Goals, Expectations and Performance
  • Sales & Marketing – Goals, Expectations and Performance
  • M&A/ Sales/ Acquisition Strategies – Goals, Expectations and Performance
  • And much, much more…

By strategically planning, each business unit within your organization, along with each strategic business decision that affects your organization will be represented in your M.A.P. This is how successful CEO’s/ Managing Partners/ and Business Owners can effectively manage their organization. This same M.A.P. solution is now available to you.

We hope this post is helpful to you. Our next post in February will be Part-2 – Tactical Management & Execution. Until then, we wish you good health and success. If you have any questions in the meantime, please Contact. Us.

GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and other business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

GMS Business Consulting No Comments

Business During the CV Pandemic

Conducting business during the CV pandemic (COVID-19) will not be business as usual (obviously), but it is not only possible it’s doable! However given the right planning, preparation utilizing technology, and with measured and thoughtful precautions in place, business can proceed forward (and it must!). Most of what we’re presenting below is very basic, yet sometimes we need to revisit some of those basic principles before strategically planning ahead. Many, many business we initially interacted with were not as “up to date” on virtual working conditions nor did they have the appropriate plans in place to work through business interruptions like this current situation. Please understand, we’re not holding ourselves as experts in the coronavirus, however we do have experience and expertise in business operations, planning and optimization. Conducting business during the CV pandemic is possible! Let’s take a brief look at a few basic business interruption recommendations and precautions that might be helpful to you or someone else you may know who needs some guidance:

BUSINESS OPERATIONS:

  1. Business Interruption Plan – The first point of defense and offence is having a Business Interruption Plan (BIP). If you haven’t established and implemented a BIP by now…do so now (we can help you with this). This plan will not only be helpful now, but it will serve you well with ANY business interruption that may come along in the future including: natural disasters/ physical office location interruptions etc. (We include a Business Interruption Plan in our M.A.P. solution). BIP become the command and control center for managing and operating your business during a business interruption. If you don’t have a BIP in place, hopefully the following recommendations will provide some initial guidance and food for thought.
  2. Work Remotely – Minimize the staff necessary to be on your site location. For most service providers, online access to office/client work-product should have already been established through online/cloud access to all apps/data/communication. If that has been implemented, then those not required to be “on-site” should work remotely. For those who must remain on-site (for production purposes and tech. support), make sure to implement protective measures to keep others as safe as possible from infection.
  3. Daily Debriefs – Morning and evening business debriefs hosted by management should focus on essential business operations such as: client service & communication/ supply-chain/service providers/ contracted services status etc. Also, make sure the business leader (President/CEO/Managing Partner etc.) personally hosts a daily debrief with all staff. Staff needs to see/hear status and direction from the person in charge. This can be easily accomplished via ZOOM or other online meeting software etc.
  4. Client Communication – All staff involved in client interaction and work-product responsibilities should coordinate, prioritize and communicate with each designated client. The objective should be to keep clients informed on the status of work production that directly affects them. Clients NEED to hear from their service providers (just as we would like to hear from our contracted service providers) in situations like this. However this should be conducted on a more regular basis than is normally customary! Just a simple text/ email/ video-call/ direct phone call letting clients know you’re thinking of them, and providing them with updates regarding their work-product is very meaningful to them. DO NOT underestimate this! Over the years this has been the #1 complaint of clients with their prior service providers. This simple task can be easily accomplished via the technology tools we have at our fingertips today.
  5. Supply Chain & Service Provider Communication – Management should already have business interruption measures in place (via the Business Interruption Plan), but in case they don’t, calls must take place so that your organization’s staff can be prepared to work with any disruptions that may impact their client’s work product. Once the status and expectations with suppliers/service providers is understood, then any material information that could affect client work-product, should be communicated to the responsible staff and then directly to clients.
  6. Strategic Planning – Use business interruption situations to better understand and address your organizational weaknesses. Then you can effectively begin to strategically plan your next objectives. Host online meetings with management AND staff to brainstorm and strategize how to best resolve current business challenges internally, and how you can help clients do the same. This is a golden opportunity to add value to existing clients and new clients. Become a valued resource to help clients resolve their problems during a business interruption. Not that you need to have all the answers, but that you become a valued “resource” to help them resolve their challenges. You can do this either by providing the solution or by introducing them to other sources that can help resolve their specific challenges or opportunities. Provide value to your clients by becoming a thought leader…a problem solver other than the work you normally provide. Again, conducting business during the CV pandemic is not only possible it is doable!

PRECAUTIONS:

  1. Pre-Screening – Those employees only deemed “necessary” to work on-site during this particular crisis, should be monitored daily for any possible infection as best as possible. If any of the aforementioned on-site staff are not feeling well or have been exposed to others who are ill, they should be required to work remotely…no exceptions.
  2. Office Location Precautions – Implement the basics…mandatory use of hand sanitizers (when available), mandatory frequent hand washing, mandatory use of disposable gloves etc. Again, only those employees deemed critical to business operational support should be working on-site.
  3. Employee Support & Incentives – Consider offering “Additional Paid-Sick-Time-Off” for ALL your employees. If they’re ill or get ill, then they’ll be covered by YOU…their employer! For those fortunate enough to not get ill from COVID-19, then let this “additional” paid sick-time-off be added to their vacation time. Either way, now would be the time to step-up to the plate and let your employees know you care about them and their livelihood. The additional benefit will come back to you in the form of employee retention.

We hope these basics will be of help to you or someone you know and that you can be reassured that conducting business during the CV pandemic is doable! If you would like to discuss your particular situation further please feel free to Contact Us. Be well, stay safe, and may the Lord protect us.

GMS BUSINESS CONSULTING, INC. – provides lawyers/law firms, for-profit & non-profit organizations, and business professionals with Accounting Services, Business Development Services, Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

GMS Business Consulting No Comments

Digital Marketing Your Law Practice

Today’s post on Digital Marketing Your Law Practice is not focused on addressing our current clients, rather to the professionals we’ve been in touch with for the past two years.  More specifically, this post is focused on attorneys and business professionals within medium to large law firms… 

To those we’ve been in touch with over the past two years, we know that you…your practice has a digital presence on your firm’s website…obviously…we’ve viewed your web page.

We found you NOT because our internet search led us to you, rather, one of our staff was commissioned to look at all the professionals in your firm.  This took valuable staff time researching and clicking through various links and pages to finally arrive at your web page. That is NOT how prospective clients (outside your firm/direct contacts) seeking the services you provide would likely find you.  It’s an EXTREMELY inefficient manner to find you if someone is seeking an attorney with your expertise.  You deserve better, and we can help your target market, prospective clients more easily find you…  Keep in mind, your direct buyer most likely isn’t conducting the search…  If they haven’t received a direct referral from one of their sources, then the search is being conducted by an associate.  How would they find you amongst the sea of attorneys in your location with your expertise?  Chances are they won’t.  We can help potential clients find you, AND we can help you better promote you/your practice to strategic contacts within your centers of influence.

So long as your firm permits you to independently establish a Digital Marketing (DM) Plan and supporting DM Campaigns for your practice that are compliant with firm policies and lead prospective clients to your specific web page within your firm’s website…then we can help you.  Our team of DM experts can design, develop, implement, manage and monitor laser-focused DM Campaigns focused strictly on you…your practice, your expertise, and your value-proposition to direct your target market to your specific web page within your firm’s website.  The DM Plan and Campaigns our team designs will result in an increased number of relevant, focused target market contacts contacting you, ultimately resulting in new clients for you.  And our support doesn’t stop there!

At GMS Business Consulting, Inc. we provide consulting services to help optimize how you manage, market and grow YOUR specific law practice within your firm through our Digital Marketing Services and Business Development Services.  To learn more about our Digital Marketing Services and our Business Development Services (using M.A.P.), please Contact Us…We would welcome the opportunity to speak with you.

 

GMS BUSINESS CONSULTING, INC. – provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow, manage and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

GMS Business Consulting No Comments

The Coming Economic Crisis

Charles Schwab - Summer 2018 Issue - On Investing

Charles Schwab – Summer 2018 Issue – On Investing

Good morning everyone…this morning’s post is on how to prepare your practice for the coming economic crisis.  As the saying goes, a picture is worth a thousand words…  The chart above is taken from the Charles Schwab Summer issue of “On Investing” (pgs. 20-21).  While we don’t give clients personal investment advice, we do guide clients through their business planning, strategizing and implementation through various economic cycles.  We have been warning clients for quite some time that markets are over-valued, and when they are over-valued, there is inherent risk…both to their personal net worth and to their business.  We guide clients to better prepare and position their businesses for economic upturns and downturns, and in our opinion, there is a looming monumental shift in our economy and in the financial markets on the horizon…

As the above chart shows, the stock market has gone to stratosphere levels during a time when interest rates (until VERY recently) have been at historic lows, yet the amount of U.S. and global debt has more than tripled since the 2008-2009 economic crisis!  Does this sound like a healthy economy?  Or does this better describe a stock market and an economy that has been inflated by excessive debt?

The tides are beginning to change…interest rates have been slowly increasing, and perhaps may even invert (signifying a coming recession…or perhaps worse), and costly fuel prices have been on the rise.  In our opinion, the stock/bond/real estate markets are all at frothy states of dangerous optimism.  Our advice to clients, family members and friends willing to listen is to:

  1. Shore-up your business and personal cash reserves.
  2. Re-position your business/practice Strategy to take advantage of the soon coming economic downturn.
  3. Re-position your business/practice Operations both offensively and a defensively to position your practice to survive and thrive in the soon coming economic storm.  (by implementing our M.A.P. solution)
  4. Re-position your business/practice Business Development initiatives both offensively and a defensively to position your practice to survive and thrive in the soon coming economic storm.  (by implementing our M.A.P. solution)
  5. Re-assess your business Value-Proposition to help your clients navigate a successful course through the coming economic head-winds.
  6. Define your desired target market industries within your sphere of professional expertise and influence that you can assist and add value to, then deliberately and consistently communicate your perspectives and value-proposition to them.
  7. Implement a M.A.P. (your Master Action Plan) to guide you step-by-step through all the fore-mentioned strategies, processes and procedures to successfully meet your clients needs, and ultimately meet your business goals and objectives.

To better understand how our M.A.P. can help successfully guide you and your clients through the coming economic crisis, Contact Us.  We would welcome the opportunity to speak with you.

GMS Business Consulting – provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

GMS Business Consulting 190 Comments

Part 1: Out-Strategize & Out-Maneuver Your Competition

Business Development Services

Business Development Services

Hello everyone, and Happy New Year!  Today’s post is part-one of a three-part series on how to “Out-Strategize & Out-Maneuver Your Competition“.  After 30+ combined years of business and consulting experience, we have seen common threads related to business success and failure.  These common threads may appear to be quite simple at the surface level, however beneath the surface they may vary significantly in complexity depending on the nature of the practice, targeted clients (and their particular needs), and one’s ability to effectively reach & communicate your value proposition to them.  That said, the successes and failures all have a few things in common…right from the start.  That’s what we’re going to address today… Read more

GMS Business Consulting 1,252 Comments

Business Succession

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Hello Everyone!  Recently, we met with a few attorneys with small practices, in their late 60’s with no plans of retirement, nor thoughts of business succession.  That’s a concern we have for many business professionals today who know better to plan for events like this, yet they don’t.  Over the years, we’ve seen many business professionals own and operate very successful practices/businesses, however we’re still surprised to see how many have not planned for their business succession.

If there is a younger family member coming into the practice or business, then that is a natural business succession, and the business owner has a whole lot less to concern themselves with.  Conversely, if there is no family member or young associate interested in taking over the practice some day, then that leaves a potentially valuable asset foregone and left behind, and clients that will still need to be served. Read more