Succession Planning: A Critical Step to Secure Your Legacy

You are in charge of your firm right now, but one day, you will retire. Who will take your place and transition into your role? How can you ensure that their transition will be a smooth one? A successful transition of leadership requires a successful succession plan, the process by which you can identify and develop the new leaders of your firm who will take over when you move on.

However, succession planning is not a one-off event. You should treat it as a critical process in your firm’s business development, planning five years in advance of when you plan to retire. This way, you will be able to enjoy the retirement years that you rightfully deserve, all while maximizing the value and credit you receive for the firm you built. By treating succession planning as a long-term process, you will be able to assure that you institutionalize both your firm and your legacy. You will further establish your firm’s brand that, with proper planning, will last through generations of successors in the firm.

Succession Planning is Accomplished in Steps

Successful succession planning requires research, marketing strategy and business development. Being a part of a succession plan means that you can have a hand in institutionalizing your firm’s name and legacy, all while making sure that the person who takes your place shares your firm’s values and best interests at heart. With that said, there are a few critical steps that are necessary to consider while you’re developing your succession plan:

First, do some research. You need to learn more about your business, internal culture, target markets, goals and expectations. Your objectives should be to study items like your desired marketplace position, strengths and weaknesses, key messages, threats and opportunities, current and desired client profiles, implementation of strategic communications, image and messaging, as well as a demographic analysis of your attorneys themselves.

Your firm research needs to include an evaluation of each of your attorneys and their individual contributions to the firm and the firm’s values. A realistic valuation of your firm can help to better support your transfer of ownership plans for the future. Additionally, your research should consider a client transition plan for who will take over the firm’s most important clients when you move on. This research will provide a detailed situation analysis of your firm, which will allow you to move forward with a solid succession plan and maximize your marketing dollars.

Second, build your brand. Your brand is your most important asset which will create value for you and your firm long after you have retired. You can do this successfully by conducting a thorough Brand Analysis, which will show you what clients, prospects and recruits see and think when they encounter your various brand touch points.

In addition to a Brand Analysis, you should obtain a complete professional audit of your website and aim to build the very best website possible. For businesses, websites are one of the most important communications tools of the 21 st century. Websites provide a foundation for a firm with a big vision – a firm like yours!

Third, begin business development coaching. You should aim to coach your firm’s future leaders, including your associates. This will be the best way to show your attorneys and recruits that you
genuinely care about their growth.

Finally, handle the firm structure. Once you’ve completed steps one through three, you will be in a better place to determine partner roles, structures and responsibilities, while also developing leadership and management responsibilities. This will ensure that your firm is left in a good place once you do retire. You should also determine compensation and retirement plans, as well as transition clients that remain well-represented within your firm. It is important that you support growth for the generations of lawyers to come.

You know you have to retire eventually, but simply knowing this information is not enough. You need to develop a solid succession plan, backed by strong marketing that will reinforce your firm’s brand and continue to develop your firm’s value through the years to come.

The steps are essential: Research. Build your brand. Coach your future leaders. Determine your firm’s structure.

Don’t wait, get started today! Keep the conversation going and get started on research that will help you create an exit strategy that lets you retire proudly while achieving the rewards of the firm you have
created.

HerrmannLAW launches new website for Tydings & Rosenberg

HerrmannLAW is thrilled to announce the launch of a new website for Tydings, a Maryland law firm that has advocated on behalf of large corporations, privately held businesses and individuals for over 80 years. We worked with the firm’s marketing director who wanted to make complex in-house site changes, and therefore needed a sophisticated Content Management System. Additionally, the firm needed failproof Internet security in place in order to ensure the safety and privacy of their information. At the end of the day, HerrmannLAW solved these issues with great design and technology and implemented a new website for 70% less than comparable law firm website costs. We are excited to share that vision publicly. You can visit the new site at http://www.tydingslaw.com/.

Are you looking to increase your firm’s marketing dollars to promote your business model, build on your aspirations and see a return on your marketing investment? With more than 25 years of experience, HerrmannLAW will help you combined branding, technology and analytics to push your marketing to the best it can be. Contact us today for a marketing consultation.

HerrmannLAW launches new website for Greenblatt & Veliev

HerrmannLAW is proud to announce the launch of a new website for Greenblatt & Veliev, a regional law firm based in Rockville, Maryland, dedicated to high-quality legal practice for victims of personal injury caused by the misconduct or negligence of another. The high-end personal injury attorneys at the firm were interested in improving their Google rankings, and with a fresh new logo, custom photography and an updated live chat feature, the new site does just that. HerrmannLAW has worked with the attorneys at Greenblatt & Veliev for months to enhance lead generation tools for digital marketing and to develop a vision for the next phase of the firm’s marketing strategy, and we are excited to share that vision publicly. You can visit the new site at https://www.lonnielawoffice.com/.

Are you looking to increase your firm’s marketing dollars to promote your business model, build on your aspirations and see a return on your marketing investment? With more than 25 years of experience, HerrmannLAW will help you combined branding, technology and analytics to push your marketing to the best it can be. Contact us today for a marketing consultation.

HerrmannLAW launches three new websites for Maryland law firms

HerrmannLAW is thrilled to announce the launch of new websites for the law firms Baxter Baker, Greenblatt & Veliev and Tydings , three Maryland-based firms dedicated to efficient and personalized legal representation for each of their clients. These clients’ all needed a new great design but also their goals ranged from a sophisticated new Content Management System, to needing a failproof security system, to needing customized new photography and a fresh new look – all of which pushed their firms further into the 21st century. These sites provide new platforms for launching multifacted marketing strategies that combine branding, website design, technology, analytics and state-of-the-art lead generation tools to guarantee that their marketing dollars promote their business models and aspirations, all while securing a return on their investment.

Is your outdated website creating a negative impression? With more than 25 years of experience, HerrmannLAW specializes in turning outdated into outstanding – all for under $20 thousand. Our robust content management systems offer responsive designs, ease-of-use, industry-leading security and facilitate updating, all while delivering cost-effective solutions for your firm’s specific website needs. Contact HerrmannLAW today for a consultation and increase your marketing dollars now!

HerrmannLAW launches new website for Baxter Baker

HerrmannLAW is excited to announce the launch of a new website for Baxter Baker, a multi-faceted regional law firm with offices in Baltimore and Annapolis. The website provides a platform for a firm with a big vision in the 21 st century, with a fresh new logo, custom photography and a new tagline and firm message. HerrmannLAW has worked with the attorneys at Baxter Baker for months to develop a vision for the next phase of the firm’s marketing strategy, and we are excited to share that vision publicly. You can visit the new site at http://www.bbsclaw.com.

Are you looking to increase your firm’s marketing dollars to promote your business model, build on your aspirations and see a return on your marketing investment? With more than 25 years of experience, HerrmannLAW will help you combined branding, technology and analytics to push your marketing to the best it can be. Contact us today for a marketing consultation.

Law Firm Succession Planning: Create Value by Creating Your Brand

Law Firm Succession planning is not a one-off event. Instead, you should treat it as a process, planning five to ten years in advance of when you plan to retire.

This way, you will be able to provide yourself with the flexibility to enjoy your well-deserved retirement years, while also maximizing the value that you receive for the firm that you have spent so many years building. By treating succession planning as a long-term process, you will be able to assure that you institutionalize your firm AND your legacy. You will further establish your firm’s brand that, with proper planning, will last through generations of successors in the firm.


There are a few important steps to consider while you’re developing this succession plan.


First, you need to build your brand. Your brand is your most important asset which will create value for you and your firm long after you have retired. You can do this successfully by conducting a thorough Brand Analysis, which will show you what clients, prospects, and recruits see and think when they encounter your various brand touch points.

In addition to a Brand Analysis, you should also run a complete audit of your website and aim to build the best site possible. For businesses, websites are one of the most important communications tools of the 21 st century. Websites provide a foundation for a firm with a big vision – a firm like yours!

Finally, you should begin business development coaching for the firm’s future leaders, including your associates. This will be the best way to show your attorneys and recruits that you genuinely care about their growth.

After this, you will be in a better place to determine partner roles, structures, and responsibilities, while also developing leadership and management responsibilities. This will ensure that your firm is left in a good place once you do retire. You should also determine compensation and retirement plans, as well as transition clients that remain well-represented within your firm. It is important that you support growth for the generations of lawyers to come. You know you have to retire eventually, but simply knowing this information is not enough. You need to develop a solid succession plan, backed by strong marketing that will reinforce your firm’s brand and continue to develop your firm’s value through the years to come.

It’s really as easy as 1-2-3. Perform a brand analysis. Build your site. Coach your future leaders.


So, what are you waiting for? Start today, and let me help you build your firm’s value while controlling the destiny of the firm by creating a valuable brand and marketing and technology infrastructures. This will allow you to have an exit strategy that lets you retire proudly while achieving the rewards of the firm you have created.

Are you ready to start building your Law Firms Brand? Click here to talk to Paul today!

Why Website Traffic is the Most Important Indicator for Future Revenue

I have worked with and interviewed hundreds of attorneys, and you may be surprised to know that even the most conservative partners agree that a good website is key to bringing in business.


Why is it important, though? And how can you increase your website traffic to improve your business development?

To start, your website traffic is the single most important measurement for “Return on Investment” (ROI) marketing activities, and is also the leading indicator for your future revenue.

It is proven that increased website traffic increases the amount of business you will generate. Therefore, you need website traffic to make your site successful, as the greater the number of visitors, the more people are seeing your content. With increased visitors to your site comes more prospects interested in utilizing your services.

And, if you know your website traffic, you’ll have a great benchmark. You’ll know whether you’re growing or not, and you’ll have a better idea of how to improve for the future.

HerrmannLaw uses ranking systems that can tell you exactly where your website stands in terms of website traffic compared to your competitors. We can provide web traffic data, global ranking, and other information that will help provide that crucial web traffic benchmark on which you can improve.

How do you get quantity and quality visitors to your website traffic without the high expense of purchasing Pay-Per-Click (AdWords) or Directory Listings (FindLaw)?


Organic Quality Visitors are as easy as 1-2-3. Really, its just three things:


1) Increasing Authority (focusing on trustworthy links)
2) Document Relevancy (CONTENT that is relevant to your target market)
3) Technology Optimization (website programing that makes it easy for search engines)


I’ve been helping law firms do just that for years, and I’ve seen how increased attention to quality content and marketing techniques can create more opportunities for business to succeed.

With more than 25 years of experience in law firm marketing, business development and technology, HerrmannLAW will combine branding, technology and analytics to ensure your law firm’s marketing dollars promote your business model, aspirations and you see a return on your
investment.

Are you interested in learning more about increasing your website traffic? Click here to talk to Paul today!

Marketing for Medical Malpractice Law

You’ve probably heard all the words: lead generation, branding, social media, AdWords, web traffic, and more. And while you probably know these are all important parts of marketing, I bet you’ve sometime wondered how all of this can apply to you.

“I have a medical malpractice law firm. How does any of this work for me?”


What if I told you that there IS a way to maximize your marketing dollars by executing a multifaceted marketing plan that incorporates both traditional and newer marketing methods? And what if I told you that we can apply all of this to best serve your medical malpractice firm?

Doubtful? Read ahead.

Marketing is a constantly changing field, and it requires individuals and companies to adapt in order to learn best practices for maximizing marketing dollars. A multifaceted marketing plan will push your firm to local, regional and national levels, and move your brand strategies from simply advertising your law firm to something more robust.

Combining branding, technology and analytics will ensure that your medical malpractice law firm’s marketing dollars promote your business aspirations and that you see a return on your investment. In fact, “Return on Investment” marketing is what we focus on at HerrmannLAW, and we’re prepared to help you take it to the next level.

I know medical malpractice marketing. It will take more than the Yellow Pages, television, radio, and billboards to push your firm to the top. To really promote your business, medical malpractice marketing involves brand name awareness and brand advertising, business development coaching, firm analytics tracking, Google AdWords, a strong public relations plan, solid social media marketing, Facebook Ads,Third Party Display and redirecting Ads, massive SEO, and more.

It will require consideration of seminars, both outbound and inbound for lawyers, not the public, to build you as an expert in your field and to help others understand just how important your services are. Finally,
it is crucial that your presence is amplified to a larger audience by including yourself on law directories such as SuperLawyers, Best Lawyers, Find Law, AVVO and Law Info. These directories have changed their business models to spend a lot of money on GoogleAds, making them hotspots for online searches. Specifically, regarding SuperLawyers, the site is looked to as an outbound source for lawyers from other areas to look for attorneys to whom they want to refer business.

In summary, medical malpractice marketing is a take-no-prisoners approach that will need a multifaceted marketing plan that incorporates both traditional and newer marketing methods to get business today. In a nutshell, you would benefit from taking your present advertising only approach for prospect action into a more thorough “24/7 top-of-mind” marketing approach. I believe adding more marketing to your business development mix will enhance your present advertising strategies and take their marketing ROI to the next level

Feel free to contact me. I’d be happy to discuss how I can help

Why Seminars Are The Backbone of Your Estates & Trusts Practice


In my time working with Estates and Trusts marketing, I have always emphasized that marketing is a constantly-changing field that requires individuals and companies to adapt in order to learn best practices for maximizing marketing dollars. Law firm marketing is more than simply advertising, public relations and blogs—it involves creating a lasting impression on your clients and prospects to make the firm unique and memorable for your prospects. Cohesive marketing strategies lead to consistent, sustainable growth and business development.

In order to successfully leave this lasting impression, you need to be able to interact with your clients and prospects personally. These individuals are trusting you with their most valuable assets – their family, their passions and their legacies. They need to know you, and you need to build relationships with them that will last not only their lifetime, but the lifetime of their children, grandchildren, and other loved ones.

That’s why SEMINARS should be the backbone of your estates and trusts practice.

Even though seminars have been around forever, their use and success have changed dramatically in recent years. Seminars are more important than ever in this digital, non-personal world, and they require more sophistication now than ever before. They are the single best way to get face-to-face with an estate prospect in a professional, non-threatening, no pressure, no obligation, secure and comfortable off-site environment.


Just imagine having a cup of coffee with all your prospects in a cozy place where they feel comfortable!

Seminars will produce lucrative marketing results, brand and attorney name awareness, enhanced public relations, and strengthened long-term marketing goals. In my own time with living trusts seminars, I have seen a proven return on investment of between 10 to 20 deals per seminar—it is truly an integral part of any marketing strategy. All you have to do after a couple of quick meetings with a seminar marketing professional is “show up and present” your seminar and be available during the following two weeks for post-seminar appointments.


Everything in your marketing toolbox is built around seminars, as they are an integral part of Estates and Trusts marketing. Seminars will provide context for your brand name awareness, your social media marketing, your competition analysis, and even your website technology and traffic. Your brand will become your expertise and the personal touch that you provide to each client, all built around your seminars.

HerrmannLAW attends discussion on negligence, insurance & workers’ comp with Baltimore County’s top legal professionals

On Wednesday, November 28, HerrmannLAW attended a discussion of the legal admissibility and authenticity of information gathered from social media at the Grand Jury Room of the County Courts Building in Towson.

Guest speakers Hon. Leo Ryan, Jr. and attorney Michael G. DeHaven. Attendees discussed how to use social media evidence effectively and ensure that it gets into evidence properly, specifically addressing common admissibility and authenticity pitfalls associated with using social media evidence.

The Baltimore County Bar Association has worked toward improving professionalism, ethical conduct and the quality of legal services in Baltimore County for nearly a century.

The Bar Association’s work includes hosting discussions and seminars for Baltimore County’s legal professionals, as well as providing those professionals with valuable networking opportunities.

HerrmannLAW is proud to work with local organizations like the Baltimore County Bar Association to improve the legal field for all its practitioners. Like the Bar Association, HerrmannLAW has a history of commitment to service and excellence.