Each quarter always seems to go by quicker than the prior. Here we are already into the second quarter of 2012. Are you pleased with your first quarter revenue? Did you meet or exceed your goal? What are your expectations for yourself for second quarter? Consider the following:
- If you didn’t meet your revenue goal for first quarter, can you make up the shortfall in second quarter and get back on track? Figure out the amount lacking and be proactive with pulling your office together and working as a team to get back on track. Is there a trust administration or probate that you can close out to bump your numbers to reach your goal? If so, make it a priority!
- If you did meet your revenue goals, what now? What will be the increase you reach for this quarter? Make that goal BIG. If you fall short, you still fall into a big revenue figure, right?
- Make sure your keeping on track with your marketing efforts. Remember it can take about 6 months on the average to get traction from your marketing efforts. Always make sure it’s on the forefront of your practice. Don’t lose focus of its importance. It’s directly related to revenue so don’t let it slack.
- Stick with the fundamentals that work. Think about the things that run smoothly, efficiently and generate revenue and remember if it ain’t broke, don’t fix it. Yes, you may be able to improve it, but if there’s a process or function of your firm that really works, stick with it and let it flow. For example, if you get a constant revenue stream from marketing and preparing revocable living trusts, don’t go spend valuable time hunting for charitable planning cases or special needs matters. Yes, you can do this too, but be careful with the amount of time you spend, and don’t neglected the well oiled machine that’s generating revenue. Balance your time and your efforts.
- Create value in all that you do for your clients and referral sources. Remember the bottom line here is they do have a choice with whom they retain and who they refer their business to. Think of little things you can do to make the process even better for them. Can you improve your follow up or communication fairly easily? If so, do it. Always remember there is a fine line between revenue decisions and value decisions. Don’t compromise creating value for generating additional revenue.
I hope that your second quarter is BIG. Market your practice to ensure your revenue climbs. Marketing and revenue just go hand in hand. Know what works and what doesn’t work in your office. Remember we’re here for you and want to help market your practice and take it to the next level. We’re your marketing team and completely dedicated to making a difference in your practice. Let us know how we can help!