I’m a “business of law” junkie. The podcasts on my phone are almost entirely about law firm management, marketing, and technology. I attend events (most recently the Great Legal Marketing Summit) and talk with entrepreneurial lawyers. And when I’m not watching biking videos, I watch law firm management, marketing, and technology YouTube videos.
But there’s a big problem with these podcasts, videos, and events. I find too many things that could be improved or implemented at Alexander Business Law. Like a kid in a candy shop unable to decide what to buy, it’s overwhelming.
Over time, though, my thoughts have changed. Using an 80/20 analysis, I select one, two, or (at most) three most important goals.
Then, I break them into a series of small changes to be implemented over time.
Small changes are more likely to be successful and will build upon one another to create a multiplier effect of greater value. They work like a retirement account: retirement income is achieved after years of regular small investments that compound year over year. Big changes, on the other hand, are often resisted and abandoned.
When thinking about next years’ goals and initiatives for your firm, be sure to filter through the noise of everything that could be done to find up to three goals with the greatest impact for your firm. Break those goals down into a series of small changes and begin implementing bit by bit immediately. You’ll be surprised how much impact they’ll have.
If you’d like to discuss what goals would have the greatest impact for your firm, call me. I love to talk “business of law.”
