When Walter Consumer has a legal problem, his first reaction will be to turn to the Internet. At this point he is not looking for a lawyer, he is looking for information. He might ask “What is personal injury?” or “What is a Power of Attorney?” Providing content that answers his questions helps you connect with him early in his search. To be sure that you are on target with your content marketing you need a publishing strategy.  

A well-developed law firm publishing strategy improves the firm’s profile and supports its business development. The reason to publish great content is to increase business so be sure your publishing strategy fits with and furthers your business strategy.

A Publishing Strategy Includes:

Your market: Your first consideration is your market. If you are a solo practitioner, you may have one type of client. Larger firms, however, could have several practice areas with specific client types you want to reach. Try to be as specific as you can when describing the prospective client. For example, if your personal injury cases are limited to motorcycle accidents, you would write for those readers.

Your Content: Consider the needs of your proposed reader and plan your content accordingly. Content can include frequently asked questions, case summaries, discussion of current legal events, how to guides or legal business updates.

 Your Format: There many ways to publish content on-line. You can write a blog, a feature article, a newsletter or an e-book. Other formats include videos and podcasts. Each one has its benefits. Which you use depends on your reader and your skills at communicating.

Your Schedule: As was said in Mice and Men, “The best laid plans of mice and men often go awry.” This especially true of writing marketing content. To stay on track, set a schedule, put the dates in your calendar and when the time comes, sit and stare at the blank screen until the words emerge. Keeping a regular publishing schedule is the best way to retain readers and be recognized by the search engines.

Your Budget: Your budget will include two types of expense. First, moneys spent to hire a staff person to write content or to hire a freelance contract content creator. Second, for the lawyers responsible for producing content, account for their non-billable time in their personal development plans.

Finally, how do you know if the plan is working to bring in more business? Try to set goals that are measurable such as percentage of new work from existing clients, number of new clients or more speaking requests for a particular practice group.  
  

The oldest, most reliable form of generating leads for lawyers are referrals. In fact, it is probable that your very first client came to you via a referral, who, in turn, referred the second client and so forth. The 2017 Clio study found that 62-percent of people find their attorneys through referrals from family or friends. How can you increase your referrals?

Do Good Work: The best referrals come from satisfied clients and doing good work for those clients is the very best way to get those referrals. Clients notice the small things—being on time, listening to what they say, explain and explain again until they understand, even when they don’t get all they want. Those contented clients will remember you and will send others your way.

Expand your e-mail list: Be sure to ask for a new client’s e-mail and permission to send information via e-mail. Assuming your website has content, use that content to send out a periodic e-newsletter. Your newsletter should include great content, images, links and overviews. It doesn’t need to be long, simply well-written and attractively formatted. And don’t forget to include bits about the daily goings-on in the office that shows off your staff’s personality. Such content gives a personal touch and makes people feel invested in the people behind your brand.

Create and maintain relationships with other businesses: Forming relationships with businesses that complement your practice such as, for example, accountants, investment advisors, realtors, or health professionals can also lead to referrals. Keep them up to date with a newsletter and remember to refer business their way when appropriate.

Out of the Office Activities: Lawyers donate a lot of time to their communities. Most find such work gratifying. Report about it in your newsletter. Remember that clients and peers who know more about the firm are more comfortable making a referral. 

And, finally, show your appreciation for clients who refer work your way. This can be as simple as a hand-written thank-you note to show your gratitude for the effort they’ve taken to help your business. Even if you don’t take the matter and refer it to another lawyer, be sure to thank the client. They will remember, refer other matters and your business will grow.

“Are you ready?” Dick asked sister Sally. “I have to be there early to help set up.”

Sally sighed, “I’ve been talking all day. I don’t have any words left.”

“You’ll be fine. You like these events and you said you want to meet the new probate Judge,” said Dick as they walked out together on their way to their bar association networking event.

Dick was right. Sally was the type who enjoyed their face to face networking efforts while Dick was more comfortable when he had a task to perform. Both, however, realize the importance of attending networking opportunities.

Why You Need to Network In-person.

Lawyers, like the majority of humanity, are social beings. That means despite all your Internet social networking efforts, you need to get out of your office and go out into the world.

Meeting people face to face, sharing experiences, ideas and interests is a valuable opportunity to keep your name and practice a step ahead. Meeting in person lets your online acquaintances put a face and personality to the name they see on the blog or e-mail or website and helps build trust while creating a positive rapport for future discussions.

Your reasons for attending an event will vary with the type of audience. Dick and Sally are attending a bar association event. As Elder Law practitioners, they receive a number of referrals from other attorneys and make referrals to lawyers in other areas of practice. Thus, their goal is to renew old acquaintances and meet new members. If they were attending a community event, they would want to meet new people and find a way to assist the group.

How to succeed.

Once you’ve decided why you’re attending this particular event, here’s how to make the most of your time:
        • Pinpoint your networking goal,
        • Discover who will be there, decide who you want to meet and ask yourself what you want to know about them,
       • Have a 10 second introduction ready. People want to know both your name and area of practice, and
         Think about what you have to give to others.

Now you’re at the event, it’s the cocktail hour, everyone is milling around. Some of you are naturals at these events—you can schmooze with the best of them. Others need help. People like to talk about themselves so a few questions can get the conversation going.

1. How long have you been a member of this organization?
2. What keeps you busy outside of your practice?
3. What got you interested in ________________?
4. I read your book, blog, article …,
5. I just saw on LinkedIn that we went to the same college.

Don’t monopolize the conversation and leave gracefully. Introduce the person to a new arrival if known or simply comment on how much you’ve enjoyed talking with them and excuse yourself. Then move on.

You aren’t done simply because the event is over. If you promised a follow-up, do it within a week of the event or you will lose credibility that you can never get back.

A healthy network is made up of contacts from all parts of your life. Face to face networking added to your Internet campaign will help your practice grow.
 

The About Us or Profile page is the second most visited page on your website. Consumers find the Home page and then, to learn about you, they click on your profile. Often these readers are under the stress of a legal problem so they want and need to connect with someone who can help. Therefore, your profile page, as the place where they can learn about you and your practice, is a significant part of their decision-making process.

Because your profile page is so important, it is vital that you review and update it every three to four months. The following are items to consider:

Your name, title and contact info should be right up front and easy to see. Prospective clients don’t want to work hard to find that information. They will navigate away from your profile or website before spending time searching.

Your photo: Readers want to see the person they will be working with. Make sure the photo is current and professionally done. A selfie won’t do the job.

writing your profile-old school

What you do for your clients: Writing in plain English and avoiding legalese and jargon, tell the reader what type of law you practice. Write in first person (I) if possible—some large law firms use third person (Lance Lawyer) and use pronouns. Tell the readers what it’s like to meet with you and how you will work to help them with their problem. If you have added a new service this is the place to let the readers know about it. 

Write a compelling lead: If your lead starts like so: I. M. Lawyer is a shareholder in the firm…it needs to be re-written. Better to write: ‘As an elder law attorney, I help older persons with issues about their future care as well as their estate planning needs.’ This tells prospective clients seeking this type of help that they are in the right place.

Interesting Facts about you: Think about what makes you excel at lawyering. Maybe you’re really good at explaining law to clients or helping them reach a solution to their problem. Tell the readers what you like most about your area of practice, describe your hobbies and include your latest community relations activities.

Once your profile page on your website is up to date, check your LinkedIn Profile and any others that are out there that need review. Keeping your profile current is one of the most effective marketing efforts you can do to bring in more business.

Posted by Roberta Gubbins at 10:01 AM No comments: Email ThisBlogThis!Share to TwitterShare to FacebookShare to Pinterest

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 Niche Market: a focused, targetable portion of a market. It is a narrowly defined group of potential customers that have specific needs. 

      A law firm that focuses on a niche is addressing a need for a service that is not being addressed by mainstream providers.
      Lawyers, like other professionals, can no longer be generalists. Because the law is too complex for you to be all things to all comers, it is necessary to select a specialized area of practice that suits you and your firm. Once that decision is made, your marketing should be selective—aimed at your niche market.
      A niche market is a defined, target market that can be classified by demographics such as age, location, gender, by socioeconomic factors or by industry or hobby. It can be as narrow or as broad as you want as long as it is well-described part of the population with the same wants, needs or behaviors.

How do I select a niche? 

      You begin by visualizing your ideal client. If you’ve been in practice for a while, think about the clients you liked working with, the ones that made you smile. Who would benefit from your legal services? What area of law are you passionate about? If you’re new to the practice of law, think of the legal specialties you liked in law school, the people you met in internships and create a description of the type of client you want to attract.
      You can narrow your field of law down to a particular type of individual, socioeconomic group or even industry. For example, if your area of practice is criminal law, you could specialize in DUI or the new marijuana laws or homicide. Or, if you like working with businesses, you narrow the field by the type of business, Internet or brick and mortar or by size such as start-ups or businesses with more than 50 employees.
      Once you narrow the niche down, search the Internet to determine the size of your market. You also need to look at the competition. How many lawyers are competing for the same clients in the same location? Don’t be discouraged, simply be aware so you can offer something the others don’t.  

Why should I Niche Market? 

      Using a narrow approach can help you focus your marketing efforts to a specific group or industry so that you become known and recognized in that group. Niche marketing is cost-effective. Rather than mass marketing to a large audience, you are concentrating your time and money on one area of the market thus saving both precious commodities—time and money. You can become an expert in that group; the go-to lawyer for their legal needs. With the use of social media, your website, blog and networking, you can become known as the industry expert whether you’re a solo or a partner in large firm.

Antique business card

The business card is one of the most compact business marketing tools in use today. It fits in your pocket, sits in card files, card cases and desk drawers, you can make notes on it and it never needs charging.

Cards first appeared in England and France in the late sixteenth century. Bearer cards, calling cards and trade cards were the three main predecessors of today’s business cards. They were early forms of advertising as well as symbols of status. Present-day cards are also forms of advertising and should be part of your marketing plans.

Three reasons why the business card is a valuable business tool.

1.     Not all clients have digital devices. You can’t rely on a smartphone for transferring contact information; not everyone has a smartphone, and, if they do, it could be incompatible with your phone or the person could not be tech-savvy. An easy exchange of business cards can be followed up with an e-mail to provide digital information.

2.     Exchanging business cards is quicker. The quickest and easiest way to swap information is with the business card. Multiple cards can be handed out at a networking event in a short period of time.

3.     Business cards essential in international business. Business cards are not only essential in some business cultures but they are treated ceremoniously. In Japan exchanging business cards is a ritual and is considered a formal introduction. In India, business cards are also used in social situations and are handed to the person face up with the text facing them. The backside of your card should include your information in the native language.

The design of your business card.

Your business card should be simple and match your other marketing products. Don’t use elaborate fonts; instead use the same font you use on your letter-head. Fit the tone of the design with the nature of your practice. Examples of business cards can be found at the ABA gallery of business cards. 

Keep your business card relevant. Include your name, the firm name, your phone number and your e-mail address. Add your business address if there is room and if you have a logo include it unless it will make the card too cluttered.

How to use the business card.

While we don’t follow the elaborate practices such as those of Bahrain where the card can’t be exchanged using the left hand and must be looked at before putting it carefully away, we still observe the right moment to offer the card. It should naturally follow as a conclusion to a conversation. After the meeting, you can take a moment to write notes on the back of the cards you received to follow up the next day.

While written communication is often paperless, business cards are still an essential part of business communication. Keep yours up to date and fresh in a card holder ready to use when the right moment arrives.

“What type of law are you going to practice? Where? Do you want a partner? Or will you be on your own?” Those were a few of the questions you were asked when you graduated from law school. And if you had an idea of what you wanted your practice to be and to look like, you may have been able to answer.

Or, perhaps your practice simply grew and years passed and now you’ve decided it’s time to set down those goals and objectives. Get out the yellow legal pad or the iPad, make your list and create a strategic plan. Now that you know where you want to go, start working on marketing. The following steps may help:

1. Marketing, it is said, is a contact sport, so walk out of the office and meet new people. Become active in your local community. Join the Chamber of Commerce, Rotary or other service clubs that interest you and where you can meet people who have the types of legal problems you wish to solve. Go to make as many new friends and acquaintances as you can.

10 easy steps to market your firm

2. Make a list of groups, companies, organizations or companies whose members or     employees might have the sort of legal problems you like to solve. Pick one of the groups to concentrate on for the next three months. To narrow your list, think about what they read, what trade organizations they join, who their competitors are or what legal information they might need.

3. Get active in the trade organizations where you will find most of your clients. Join the organization and volunteer to be active on a committee, particularly the program or publication committees where you can interact with members.

4. Write articles for the trade print or e-newsletter, write a column for your local paper—they are always happy to receive well-written informative articles targeted for their readers.
   
5. Offer to speak at conferences or meetings. In-person presentations are an effective   marketing tactic—talk on legal topics of interest to the group and take lots of business cards.

6. Don’t eat lunch alone. Take people who can help you such as your accountant, lawyers at larger firms, bankers or business owners. Also, contact all your law school classmates, simply to say “hi.” Let them know they type of practice you have and discuss mutual referrals.

7. Draft a budget or financial plan so you can measure your success. Your goals might include increasing revenue by $60,000 opening 5 new files worth $1,000 in revenue per month, or launching a new practice area that will generate $50,000 per year.

8. Create an individual marketing plan. Decide how much you’re going to spend out and how you want to spend it—to fund the lunches, materials for your lectures or costs for on-line marketing. This is not an expense, this is an investment in yourself and your future.

9. Reach out to clients. Make them aware of all the services you provide and they haven't tried yet. And, add to your current practice. Ask yourself “What am I good at? What do I like to do?” and, “Which will my clients buy?” Get the training you need to add the new service. 


law firm marketing suggestions

10. Don’t forget your website. Put your Web address on your business cards, e-mail signature, letterhead and brochures to encourage visitors.


Rainmaking is personal. For some, it comes naturally while for others the skills have to studied and practiced. Find and practice the techniques that work for you. Soon you will be an expert, you’ll meet your goals and your practice will grow.

Several years ago I wrote the following essay encouraging recognition for lawyers. I resurrect it today in honor of Love Your Lawyer Day, celebrated on Nov. 3^rd.

National Lawyer Day. Not Law Day celebrated in May and upon which many of us work, but a day to honor lawyers. Establishing a holiday requires considerable thought and planning. Setting up a holiday to honor lawyers would undoubtedly require extraordinary thought and planning.

Most holidays have colors associated with them. What colors can we associate with lawyers? A quick glance around a courtroom revealed gray, navy blue and black with a touch of red. One disgruntled person suggested gold to represent money. Let us use red for cheeriness and black for black letter law and black robes. Red and black are good strong colors.

National Lawyer Day should have special candy. How about candy in the shape of gavels, scales of justice, palm pilots, cellphones and briefcases? That would work. We could have Pez dispensers designed to represent judges, lawyers or clients.

We need T-shirts emblazoned with “National Lawyer Day—take your lawyer to lunch.” Or, “Have you thanked your lawyer recently?”

And flowers; we need flowers. There are plenty of red flowers. It might be harder to find black flowers. There are deep purple, almost black, irises. And this writer has heard of, but never seen, black orchids. There is, I am sure, a clever horticulturist out there who will find a way to create lawyer-like flowers. They will be expensive.

Lastly, we need a parade. What should be its theme? We could celebrate famous cases and their attorneys. The OJ trial, for example, or a tobacco case. Since we are into reality television, we could have a float entitled “When is it all right to eat your neighbor?” How about a Reasonable Doubt or a proximate cause theme? Or one entitled “My Favorite Tort.”

The Capital Steps can march with their briefcases. The attorneys can walk in the parade to receive the adulation of their grateful clients. Bar associations could sponsor floats. A float honoring the judges would be appropriate.

What day of the month should be designated National Lawyer Day? I suggest a Friday, giving the weekend to recover from the celebration. After all, lawyers are an exciting bunch and need the entire week-end to honor the profession. 

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Sally Consumer is an active user of the Internet. She uses it to find coffee shops, restaurants, doctors and lawyers. More often than not, her searches take place on her phone or her tablet. If your website or blog loads slowly, doesn’t fit the smaller screen forcing Sally to pinch or zoom in order to read the content, she will move on to a more responsive or mobile friendly website.

Google has long been aware of Sally’s search habits and has decreed that its search robots will include a website’s “mobile-friendliness” as a ranking signal. This means that site pages that can’t fit comfortably on the smaller screens will see a downgrade in ranking.

How do I know if my website is mobile-friendly?Ever efficient Google has created a website where you can enter your webpage URL (Uniform Resource Locator) or web address to test it. Find and click on the Mobile-Friendly Test, enter your web address and you will quickly know the results. If you fail the test, contact your web developer or website host to find out how to make your website responsive or mobile friendly.

What is a mobile-friendly design?


A mobile-friendly website is one that is designed to work the same way across all devices. A website with no usability concerns regardless of whether it’s being viewed on a phone, tablet or laptop is mobile friendly. If your website, like most law firm websites, is basic with few navigation drop-downs and no animation, it may pass the test.  The key features of a mobile-friendly website are:

1. Static content that doesn’t change, 
2. Simplified navigation,
3. Images display smaller, and it’s
4. Not reliant on a particular operating system to work properly.

What about a responsive design?

A responsive website is one that changes based on Sally Consumer’s needs and the device she’s using to conduct her search. With responsive design, text and images change from, for example, a three-column layout to a single column display. Unnecessary images are hidden so they don’t compete with the more important information on the smaller display.

The key features of a responsive website are:

• Content changes, 
• Abbreviated navigation, 
• Improved images, and it’s
• Reliant on a particular operating system to work properly. 

Which do I need? 

A simplified mobile friendly site will give you a consistent website experience across all devices. If you don’t have a large mobile audience (less than 35%), your site is simple with mostly text and images and your picture sizes are small, allowing for quick loading, a mobile-friendly site is for you.

Consider a responsive site if more than 35% of your web traffic is on mobile devices, your website content is complex or has features that are difficult to use on a phone or tablet or you want your website to appear up-to-date longer. Be aware that a responsive design takes expertise, proper planning and a larger budget.

Sally Consumer is in a hurry. She wants to solve her problems now. She will quickly pass by websites that load slowly and are hard to navigate on her phone or tablet. To be sure your website is the one she picks, test it for mobile-friendliness and make any necessary adjustments.

Sally is enjoying a quiet evening meal at her favorite restaurant with her law school roommate, Scott. In law school, both studied hard, were on law review and graduated in the top 10% of their class. After graduation, however, they took different paths to the practice of law. Sally is a shareholder in her small law firm practicing Elder Law while Scott, whose family had long been in the Military, is a JAG lawyer.

 

Over coffee, the conversation turns to marketing.

“We spend a lot of time and money on our website, blog and social media,” said Sally. “I need to update my blog tonight.”

“I’m glad I don’t need to do any marketing,” said Scott.

“I’m not sure about that,” said Sally. “What if you decide to leave the Military? No one will know you exist.”

Sally is right. Scott like the many other lawyers who turn from a traditional practice to use their skills in such establishments as the government--federal, state and local, the judiciary--judge, magistrate, clerk, legislature, house counsel for corporations or academia, still need to consider maintaining an Internet presence. 

Why do you or other non-traditional lawyers like Scott need an online presence?

An on-line presence in the form of a profile, a website or a stop on the social media thoroughfare is as necessary for non-traditional lawyers as it is for lawyers working as solos or in a law firm. It isn’t only consumers who search for lawyers on the web; other lawyers also read those profiles.

Scott can establish relationships and connections that would otherwise be unworkable because of distance and time. These are lawyers you can meet only through e-mail or text or, perhaps, a short telephone call. Those associations can be as strong and as important to your career as ones established face-to-face at networking functions.

Lawyers can use the knowledge gained in other fields to make a career change. A lawyer working for a governmental agency today can establish connections and soon be practicing for a law firm in their government relations department. Legal publishing experience, for example, could lead to consulting on copyright and drafting contracts with agents and publishers. Managing an international non-profit would be helpful if you wanted to practice in International Law. Retired judges often turn to mediation and arbitration.

These movements from traditional to non-traditional legal careers and back again will only be successful if the world knows that you’re out there. And the easiest and least costly way to become known is through an on-line presence. Using social media, LinkedIn and developing a website, you can network within the legal field as well as market your practice to potential clients. 

A legal career, whether traditional or non-traditional, can last 20, 30, 40 or more years. It can take many twists and turns as you travel along. Using the Internet to establish relationships with other lawyers can lead to exciting possibilities and help with transitions.

I received the Amazon Echo Dot for my birthday. It is a hands-free, voice-controlled device that uses Alexa to play music, answer questions or read the news. There is some setting up to do, which I have not yet completed, so I use her to tell me the weather and play music. However, I am not alone in using a voice controlled device to find information.

Many of you use some form of an intelligent personal assistant, such as Siri, Google Now or Cortana, available on your mobile devices, to quickly find information. Voice search is the fastest growing type of search. It’s faster, hands-free and allows you to multi-task. According to Google’s latest survey, 41% of adults use voice search on a daily basis, while 55% of teenagers--your future clients—use it on their mobile devices.

Thanks to technology voice search has improved. The current speech recognition word error rate is as low as 8%. And, voice understanding, a search that responds by interpreting the meaning and context behind the words, is also improving.

What does voice search mean for law firms?

First, realize that those using voice search tend to ask for the information in the form of “who, what, where, when, why or how” questions. Second, the asker uses a conversational tone such as “What lawyer in my area writes wills?”

For you, that means the content on your website should focus on answering the questions your potential clients are asking. The better you’re able to answer those questions, the better chance you have to be returned in the search engines. Think about the questions you’re asked when meeting with clients, or at a Rotary luncheon or a Bar Association Event and write content that answers those questions.

Your content should be written in a conversational tone, using active verbs, ordinary not legal vocabulary and presented in an easy to read format. Using the Frequently Asked Questions format is effective. For example, if you’re a family law attorney practicing in Michigan, you can choose topics such as “Can a single person adopt a child in Michigan? Or “How do courts decide custody?” Or, “6 things to know about divorcing in Michigan.”

How does voice search affect SEO (Search Engine Optimization)?

SEO is the process of using strategies and techniques to obtain a high-ranking placement in the search results. Those strategies include great content, easy to navigate sites and use of keywords to identify your topic. Experts recommend that your blog use long-tail keywords such as Traverse City Family Law Lawyer or Michigan DUI Lawyer. In other words, phrases that will answer the questions: “What family law lawyers practice in Traverse City?” Or, “What lawyers in Michigan defend DUI?”

The face of searching is changing and evolving. Use all the available information about how your clients find you and the questions they ask to keep current. Doing so will bring your website and this age-old legal profession into the future.

Podcast--a digital audio file made available on the Internet for downloading to a computer or mobile device, typically available as a series, new installments of which can be received by subscribers automatically.

The newest and fastest growing entrant into the digital marketing world is the podcast. Edison Research conducted a study that found that podcast listening grew 23% between 2015 and 2016.
It also found that 21% of Americans or about 57 million people aged 12 and up have listened to a podcast in the last month. This a 4% increase in listening over the last year.

Why the increase in listening?

The answer is simple—mobility. Sixty-four percent of podcasts are being listened to on smartphones or tablets. People listen on their commute to work, on their evening walk or morning run or while completing mundane tasks.

Should You Have a Podcast?

Adding podcasts to your website or blog increases your reach to other audiences. Not everyone learns visually so for the listeners among us, the podcast is the perfect medium. Having a podcast is an effective way to differentiate yourself from other lawyers and to demonstrate your expertise in your area of practice.

Podcasting is cost-effective and efficient and offers the opportunity to improve client education. It is particularly appealing for small and solo practices.

Things to consider for your podcast:

Know your audience. Not everyone listens to podcasts. If your target audience is the younger audience who want to control how, when and where they get their information, then the podcast is for them. If, on the other hand, your goal is to bring in more senior executives, you’d be better off visiting their workplace and forget the podcast.

Create great content. Clients refer and are loyal to lawyers they trust; and trust is created by offering good well-researched and easy to understand information. Your podcast should not be comments on your last family vacation; your podcast must convey the right image and be of interest to your target audience. Interesting, informative and entertaining messaging creates a great podcast.

Have a co-host. Radio shows and podcasts work better is there are two speakers. It’s more interesting and fun to have someone to talk with. On your own? Invite guest speakers and use the Q and A format to add interest and liven up your broadcast.

Know how your audience listens.

Much of your audience will listen on your website, rather than downloading the podcast to their smartphone or tablet. Decide where the podcast belongs on your site—a spot of its own, under a practice area or a new developments section. Podcasts can add to the value of your site for prospective and current clients.

Try to Release Weekly Episodes:

In the ideal world, you would release on the same day and time every week. Your listeners will appreciate knowing they can tune in every Thursday at 4 p.m. to hear your latest update on the state of the law in your practice area.

Keep it short and simple:

Make it as short as you possibly can. Half an hour is the longest it should be—15 minutes is better. If the topic is complicated and needs more explanation, save it for your blog or a speech or article. Podcast listeners are working out or in their car so they won’t listen to a long or complicated narrative. Podcasts can convey passion, the personality of the lawyer and a limited amount of content

Finally, a great podcast needs listeners. Announce it on your website, your blog and on social media. The value of your podcast will increase as it is included in your overall marketing plans.

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Is an ESOP right for you? 
Or Is there an ESOP in your future?
By


There comes a time in the lives of business owners that they want to move on; to pass the day to day management of the company to another in order to spend time in other pursuits. The question of how to accomplish that goal can be answered with an ESOP or an Employee Stock Ownership Plan (ESOP).

An ESOP is thought to be the most tax efficient way for an owner to leave a business and set up a management team to control the company. A well constructed ESOP transaction provides a “win win’ situation for the owner wishing greener pastures, the management team eager to take on the leadership role, the employees wanting to be part of the company ownership and the company wishing to keep down its tax burden.

What is an ESOP? 

An Employee Stock Ownership Plan is tax qualified plan created to invest in the stock of the company. It is similar to profit sharing plans or 401(k)s except that its main asset is the company’s stock. While an outside purchase may trigger a large tax burden, a properly structured ESOP can limit the taxes owed on the proceeds of the sale.

How does a typical ESOP transaction work?

The first, and, perhaps the most important step that needs to be taken, is for all the parties to come together to study the situation. This includes the company board, the selling owner, management team, and the ESOP Committee. As part of this process an outside independent ESOP appraiser determines the value of the company. Once everyone fully understands what is proposed and the role each party plays, and if all agree, the process moves forward.

The next step is for the company’s board to establish the ESOP and appoint an ESOP trustee who can be part of the management team or an outside person appointed for the sole purpose of buying the owner’s stock. Regardless of who it is, the trustee must negotiate a price that is not more than the fair market value of the stock and is fair to all. At times, the independent trustee stays on for a “cooling off period,” after which the company can appoint an insider to act as the ESOP trustee.

Like buying a house, when all are in agreement that the terms and conditions have been satisfied, the final ceremony is the closing. At the closing the selling owners receive cash for their shares and the ESOP receives shares in the company.

The ESOP often borrows funds from the company to pay the seller. The company borrows the funds from a bank. After the closing, the company contributes to the ESOP, which, in turn, uses the money to make loan payments to the company. The company uses those moneys to pay down the bank loan. Using this method gives the company a tax advantage since it can deduct the payments to the ESOP.

The purchased stock is held in the ESOP trust but is not in the name of any one employee. This is called a “suspense account.” As the loan is paid down, each year there is annual allocation of stock from that account to the employees’ ESOP accounts. When the employees leave the company, their stock is converted into cash, which can then be distributed to the employee’s IRA (Individual Retirement Account).

How the IRS treats the proceeds of the sale depends on whether the company is a C or an S Corporation. The seller of shares in the S Corporation to the ESOP will pay capital gains on the proceeds, while the C Corp seller may, under certain circumstances, have a year to reinvest the proceeds to defer the tax.

What are the advantages of an ESOP? 

The use of an ESOP to transfer ownership has advantages for the company, the employees and the seller.

1. The company keeps its offices, employee base and business connections.
2. The company can buy the stock from the selling shareholder at a tax advantage.
3. The assets in the ESOP trust grow tax deferred.
4. Distributions are taxed favorably.
5. Employees continue to have a job and gain a significant new employer provided benefit.
6. The seller has found a “friendly” purchaser.

What are its disadvantages? 

The process is a long one. Selling all or part of your business is a major event that requires a lot of discussion and negotiation. Because the process is complex, it can take six to nine months or longer to accomplish. And, there is cost involved in establishing and managing the ESOP, which requires an evaluation each year.

What could be trouble spots?

The first troublesome spot could be the cost of the stock. The ESOP must never pay more than the fair market value of the stock. To be sure you have a fair price, a solid valuation of the company by a qualified ESOP appraiser is necessary.

Because ESOP trustees are obligated to work in the best interests of the Plan participants and to negotiate an arms’ length sale between the ESOP and the seller, they must be selected with care.

Another area of concern is the company governance. The control of the company, both pre-and post-ESOP must be carefully reviewed. Shareholders can vote on shareholder matters, however, while the stock is in the “suspense account,” the trustee votes those shares. Again the selection of the trustee must be considered.

Ongoing administrative costs, which include outside appraisers and managers, should be reviewed carefully. If the company is an S corporation, an analysis of the ESOP is important to be sure it does not violate any provisions of the tax code.

If you are thinking it is time to move away from your company and are comfortable with employee ownership, the ESOP may be your answer. An ESOP that is good fit for your company and its culture can benefit everyone involved.

*** 

Column for newsletter

Off the Record

Are you a screen sophisticate?

By

Roberta M. Gubbins

Screen Sophisticate: One who has a highly developed knowledge of the ways of the computer screen.

I am not. I am learning but I will always be behind the folks who are growing up with the screen as an integral part of their lives. 

I thought of that when I was cruising the local mall recently. I paused and watched a young father show his toddler how to use her finger to navigate a game on the father's smartphone. I am sure the child is learning to walk and talk, but she will know how to use her finger on the screen long before she is an accomplished walker or talker. If the child becomes a lawyer, she will think nothing of strolling into court with a tablet computer or something as yet to be created, which will, of course, have all the files needed and be wirelessly connected to the court's system.

Today's law school graduates are quite comfortable with the screen as a tool. The rest of us can learn. Like all disciplines, there is a learning curve and the first task is to learn the language of screens. Let's start with some of the basics:

                             Binary--the number system used in computer science is binary or a base-2 system using two symbols: 0 and 1. The binary number 11000101110, for example, is equivalent to 1582. Frankly, that is as much as you need to know unless you want to explore the base 2 world, which I don’t. I had enough trouble understanding our base 10 system. I am a lawyer not a mathematician.

                 Bit--(binary digit) is the smallest piece of information used by a computer consisting of either 0 or 1.

                             Byte--(binary term)--the basic measurement of computer data and consists of 8 bits. Computer storage is measured in larger increments of bytes such as Kilobyte (1024 bytes), Megabyte (1024 Kilobytes) Gigabyte (1024 Megabytes) then Terabyte, Petabyte, Exabyte, Zettabyte, Yottabyte, in order of increasing volume and following the same pattern. What does that mean in paper? One Megabyte is about 500 pages or one thick book, while 1 Terabyte is about 1 million thick books.

If opposing counsel says he is sending 3 Megabytes of discovery, that's a lot but may be doable; if, however, he is sending a Terabtye or two, you might want to file a motion seeking help from the court or just say no.

While that is probably enough of the techie stuff for today, I will add two more:

App or application--is the program in which you do your work. If on an iPad, you access the Apps with a touch of your finger. Apps are narrowly useful since the apps on the tablet screen are used to find information, not for creating it and each must be opened individually. Apps such as QuickOffice Pro can be used to write a letter or document but might be awkward when it comes to editing it.

If you are using your tablet to read a brief or court case, there are, for example, apps (such as GoodReader or iAnnotate) for writing notes, highlighting text, making comments or underlining parts of a document that are helpful.

Software--files on a disk that contain instructions for a computer--such as Microsoft Word or Excel or Firefox--which you install on your computer to use when creating documents or spreadsheets or going on the Internet. These programs have many more bells and whistles than the apps.

That is probably enough techie stuff for today. I think, by learning a few terms and practicing on your tablet or computer, you and I can become more proficient and less awkward and truly be screen sophisticates. I will keep at it and I welcome you to join me.

* * *

 E-Blast on UCC Revisions sent to clients:

Revisions to UCC9 take effect July 1st

Revisions to Article 9 of the Uniform Commercial Code (UCC), which controls the granting of credit secured by personal property will take effect on July 1^st. Article 9 rules apply when a manufacturer finances the purchase of a machine, a store owner borrows money to buy inventory, or a consumer uses credit to purchase a new flat screen TV. Michigan is one of 39 states that have adopted the amendments written to fix filing issues and other problems.

First, there was the problem of deciding which of the debtor’s names to use on the financing statement. Michigan has adopted Alternative A (“Only if”) of the two possible options as follows:

·                          If the individual debtor has an unexpired driver’s license, use the name on that card,

·                          If there is no driver’s license, but there is a state personal identification (ID) card, use the name on that card,

·                          If there is no driver’s license or personal identification card, then use the debtor’s actual name or the surname and first personal name.

Other states have adopted Alternative B (“safe harbor rule”), which provides that the debtor’s driver’s license name, actual name or the surname and first personal name be used on the financing statement.

In situations where the state issues both a driver’s license and a personal ID card and it isn’t possible for a person to have both, then the personal ID may be used under either alternative.

If the debtor is an entity such as a corporation, limited liability company, a limited partnership or when the collateral property is held in a trust or the decedent estate, the name on the financing statement will be the one used in the actual charter documents filed with the state.

Second, the new forms are more user-friendly. More detailed guidance is provided for completion of the forms. The check boxes have been moved to make things clearer. For example,

·                       The termination box is moved away from the continuation box, 

                        Boxes indicating whether the transaction is a public finance transaction, a manufactured home transaction, etc. are now in the financing statement rather than the addendum,

·                      Trust indication boxes are also now in the financing statement not in the addendum.

The UCC “correction statement” form is now labeled “information statement.” The new form indicates why the form is being filed and who is filing it.  The secured party (i.e. the bank) can, but is not obligated to, file an information statement if it believes that an amendment to its financing statement was not authorized. The debtor has always been authorized to file an information statement.

Michigan uses the national forms except the UCC-11 (information form), which is slightly modified. The state will take the old forms only until July 31^st. The new forms should be available as of June 28^th. Michigan’s filing fees will remain the same.

If the name of the debtor needs to be changed, there is a five-year transition period that lasts until June 30, 2018. Also, when you continue a financing statement after July 1^st, you need to be sure the debtor’s name is correct according to the new revisions.

For more information, please feel free to contact:                        

Send me your notes, I will transform them from legal jargon to plain English for your clients. Whether blog post or article for your local Bar Association Newsletter, I can help. Want your article or essay edited? See the fees below.

Blog Posts 

Pay per post:  One post---$200.00

Subscription: 4 posts a month---$600.00--

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Price range is established before we begin.                                              

Editing:

Up to 5000 words $.07 a word

Longer works  $65.00 per hour

Price range is established before we begin

Fees quoted include two rounds of revisions. Additional revisions will be charged at our hourly rate.

Reliability, pleasant attitude, patience and positive working experience included at no cost.

Contact me at:

rmgubbins@yahoo.com

Or by phone: Ph: 734-255-9119

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I will transform your words into plain English for your clients and prospective clients. I write with the reader in mind while creating marketing materials that you can be proud to have on display.

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       A newsletter keeps your name before your clients, makes them feel special and is a great marketing tool.
You have a new associate, you’ve repainted the office, you are speaking at a seminar. Let your clients learn of it in your newsletter.I can write it.  


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And you can relax and eat ice cream.

Marketing tip:

Know your niche. Know who you are and who your prospective client will be.

Look at where you are today, decide where you want to go and think about how to get there.

Write those thoughts down. Keep them close, review them often, make them part of you and they will happen.

   

     

Ghostwriter for the best legal minds.

        

You have the best of intentions when it comes to writing your blog. Perhaps you’ve actually set time aside on your calendar to write that post. You sit in front of the computer and stare at the screen with no idea bubbling to the surface demanding to be written. Where can you find topics to write for your readers?

Start by pulling over the yellow legal pad, write at the top “What am I asked over and over?” 

Write the numbers one through six, one under the other so you’re using the whole pad. Now, without over-thinking it, write what comes to your mind first, then next continuing until you have six. Use as few words as possible to describe those questions. Keep it simple and quick.

Stuck? No ideas?

Think back to discussions with clients on the phone or in person, court hallway conversations, webinar Q & A sessions or queries from strangers you met standing in line at the local coffee shop for your morning coffee. These conversations give you topics that are important to clients and potential clients.

As you remember these questions, you will realize that the questioners aren’t asking about a recent court decision or your latest brief on a discreet legal topic. They are asking about problems that affect their lives. Maybe they are buying a house and want to know about deeds available in Michigan. Or what is a will?

There are two types of blog topics: 

     First, are topics that are timeless. Such topics as the difference between a legal separation and a divorce.
     Second, are timely topics usually found in the form of an analysis of breaking news story, which can be either mainstream or industry-specific.

For example, the SBM Newslinks posts Michigan Legal News everyday. Some articles affect a particular business such as the report on the “Detroit Teacher Sick Out Closes 90 Schools.” “What could this mean for other Michigan school districts” is a timely approach. “What’s the difference between an at will employee and one under contract?” is timeless.

Once you have the six topics, decide how often you’re going to post your blog. If once a week, you now have six weeks of topics; if every other week, then you have 12 weeks of posts. Put your writing time in your calendar and treat it with the same importance you would a meeting with a client.

On your non-writing weeks, schedule a time to look for news that needs explaining for your clients. They will appreciate your analysis of the situation and be pleased that you are thinking of them. Don’t worry if it’s been done before. You have your own take on the subject written in the light of the concerns of your clients.

Now you have six to 12 weeks of blog post topics. As you work your way through your list and you get more questions from clients, friends and acquaintances, you will find yourself adding to the list and never being at a loss for a topic for your blog.

Repost from SBM e-journal

Marketing: A management process through which goods or services move from concept to consumer. (Business Dictionary.com)

You are a lawyer providing a legal service. You are also a business. As a business you have all the management problems of every business owner including marketing your business. With a well-planned marketing strategy, your law business will grow over time.

The process of marketing includes four elements:

·      Identification, selection and development of a product or service.

·      Determination of price.

·      Selection of distribution channel to reach your ideal client

·      Development and implementation of a promotional strategy

Identification, selection and development of a service:

Your first consideration is to decide what type of law you wish to practice. Often this became evident in law school as you studied the various areas of law or you accepted an internship and spent hours researching personal injury or civil rights or criminal and you became fascinated.

Another approach is to study your town. Research the census statistics, join the Chamber of Commerce, study the businesses—determine the composition of the area to determine what legal services are needed. Use that information to start a practice or add a new needed practice area to your list of services.

Once the area of practice is identified and selected, develop an expertise by attending conferences, ICLE seminars, teach or write articles for your state or local bar association.

Determination of price:

Pricing is a complicated issue worthy of study. Prices should be based on the client’s subjective value placed on solving his or her problem. Because it’s subjective, it can be hard to figure out. Don’t quote over the phone, have a meeting with the prospective client, analyze the information and offer to send the quote the next day. You may also decide to offer some services at a fixed price, a price that is attractive to target clients and profitable to the law firm over time.

Selection of distribution channel to reach your ideal client

Take some time and decide who will buy your services. Once you know who you want to attract, then decide how to reach that person. One way is the Internet—PEW research says more than 75% of consumers use the Internet to find a lawyer or to learn more about the lawyer recommended to them. A website creates a good first impression and helps build trust and credibility. More consumers are turning to legal directories, so update you profile on the SBM Member Directory. Social media such as Facebook, Twitter and LinkedIn helps build relationships.

Face to face networking is another way to meet people and expand your client base. You can join volunteer organizations with goals you support, sit on boards, teach a class, give a speech and network with other lawyers.

Develop and implement a promotional strategy.

First, establish what marketing strategies you will use; second, determine how many hours a week you will be able to devote to your plan and last, establish a budget for estimated costs. Always ask clients how they came to you, ask them for referrals in your closing letter and use an analytics program to determine how your on-line presences are doing.

Marketing is more than selling. It as a way of thinking in terms of your clients’ needs and their satisfaction. If you turn your thoughts to them and not yourself, you’ll get more referrals and your business will grow.

Repost from SBM e-journal

January, 2017 is now on your calendar. The month January, originally named Januarius in the Roman calendar, is named after Janus, the Roman god of beginnings and transitions. He is depicted as a two-faced god capable of looking at the past and the future at the same time, which is exactly what you can do when you set out to write those New Year’s Resolutions; be like Janus and look to the past to plan the future.

Start by looking back at 2016. List three things that worked. Maybe Jane, the new paralegal you found after a long search is awesome, social media actually brought in new business and you delivered a ‘killer’ and winning final argument. Then list three things that didn’t work. For example, the new software crashed the computers, your blog posts died after three postings and your millennial associate went to work for a non-profit helping indigent defendants. Learn from the past. Simply being aware is enough.

While you’re in the thoughtful mode, lean back in your chair, close your eyes and visualize yourself being successful.

First, decide what ‘successful’ means to you. Does it mean more cases in a special area of the law or more time for the family or at your easel or at the gym or a combination of all those desires? Whatever it is make a mental picture of your place of professional prosperity and keep it in your mind. Hard to remember when you’re racing around from court to court, meeting to meeting and client to client, but pause a minute, find that place and move toward it. This is what athletes are told to do -- see it, then be it--works for them, it’ll work for you.

Resolve to make your life a little easier by leaving the office early on Fridays, fire your worst client, you know the one that gives you and the staff migraines and accept that there is no perfect solution in the law. Someone will be unhappy. Sometimes that person will be your client. Hang in there, next time your client will be the one with the smile.

Also, consider being or getting a mentor. Whether you’re giving or getting advice, a mentorship can help develop your career or help a new lawyer just starting out. And, do pro bono work. It’s a professional duty, helps develop new skills and makes you feel good about your practice

Most of all, keep your New Year’s Resolutions simple. Don’t take on more than you can realistically accomplish. Move through the coming year remembering where you want to be; find your path and start in that direction. By the end of 2017, like Janus, when you look back, you’ll be feeling good for keeping your promises to yourself.

Ask children who have lawyers for parents and they will tell you said parents are not only a source of embarrassment but can be real drags. As we celebrate the holidays and families are congregating,  it may be time to see ourselves through our children’s eyes. The trouble for the child undoubtedly begins before birth.

lawyer parent

The gynecologist becomes aware that one of the child’s parents is a lawyer. The method of questioning alerts the doctor that you want detailed, soundly reasoned information. Little Jane or Jack is also listening and the discomfiture caused by the lawyer parent is beginning.

Being born doesn’t help. Now the scrutiny becomes more intense. Every diaper change is preceded by discussion regarding method, frequency, and type of diaper. More dialogue about the sleep position, the type of food, proper attire perhaps some research is needed before a decision can be made.

“Do the job,” the by-now-uncomfortable child thinks. “Is it going to be this way all my life?”

It is time for pre-school. The child is excited about being with his peers. The search for the proper pre-school was long, intense with many high-level parental conferences. Finally, a decision is made and the child is off to school. One day the children are talking about their parents.

trash truck

“My Mom/Dad is a lawyer,” says your child proudly. “What’s a lawyer do?” asks Andrea.
“Reads stuff and talks,” says your child.
“Is that all?” asks Ed. “My Dad drives a trash truck.”
“Now that’s really cool,” says Andrea.
Your child comes home and asks, “Why don’t you drive a truck?”

Move on to elementary school. Little Jack, now in second grade, has become resigned to the dullness of your occupation. Career Day is coming up. He comes home with a note from the teacher asking for parents to come in to talk to the class.

“You don’t have to go; I know how busy you are,” he says in an effort to avoid any embarrassment.

“No, I would love to speak to your class.”

 “Okay,” he says politely, head bowed.

You gear up for your performance. After all, you have spoken to groups before. You stand up on your legs in court all the time. Talking is what you do for a living. What would the class like to hear?
Maybe give a discussion of the First Amendment? Or, perhaps talk on the rights of children? You research your topic, you have notes, and you are prepared. Wearing your best suit, carrying your briefcase, off you go to your child’s class.

The teacher greets you and explains that you will speak after Mark’s Dad, the builder. Mark’s Dad has a tool belt, brings in some wood and proceeds to build a birdhouse—complete with turret and weather vane—in 5 minutes.

A hard act to follow, but you are prepared. Your child introduces you. You start your speech.

lawyer parent speaking to class

“Have you been on television?” asks one student.
“No,”
“Oh,” Your child wiggles in his seat.
“Do you carry tools? Like Mark’s Dad?”
“No, I carry a briefcase.”
“Oooh” they say. Your child wiggles some more.
“Do you build stuff?” asks a voice from the back of the room. You suspect the questioner is Mark.
“No, I research the law and write briefs.”
“Oooooh,” they say. Your child has about disappeared under his desk.
Finally, the teacher says, “Thank you, Ms. Lawyer.”

Your child walks you to the door and the ordeal is over for both of you. The class moves on to Sally’s Mom, who shows them how to make an origami bird.

The teenage years are no picnic when you have a lawyer for a parent. First of all, lawyers have strange senses of humor. They tell weird stories and they tell them anywhere—in front of your friends, their parents, and their friends. People look at them and wonder how they can believe that the fact that little Johnny, sent to live with his Aunt Tillie who placed him in a fancy private school where he proceeded to teach the other little boys socially unacceptable behavior, is hilarious.

Then there is the questioning. Lawyer parents ask annoying questions. Where are you going? Why? Who are going with? What time will you be home? Do I need to call the other parents? Other parents ask those questions, but lawyer parents demand answers.

They will start their cross-examination with “Isn’t it true that...” They call the other parents. And, if you end up in trouble for some transgression or another, they bring in several lawyers to straighten out the mess, causing you even more humiliation. Nothing is simple for lawyer parents.

Going through life with a lawyer parent is not easy. On the other hand, they do know how to read, research and write. They also know how to argue. They will cause you to think and have reasons for your conclusions. They will force you to clarify the issue of a situation.

While they do not drive trucks, carry neat tools or build anything, they are handy to have around when a problem arises. They will take it on, protect your rights and stand in your corner all your life.

Lawyer Parent to the Rescue

(Excerpt from "Why do we do that?"commentary on lawyers and the law.)

Lawyers and Seltzer

New lawyers starting a law practice in the 1800 America could advertise their business. Using mass circulars, handbills, posters, ads in the local community papers, they let the citizens know of their existence. In 1908, however, the American Bar Association (ABA) published the Canons of Professional Ethics, which abolished advertising by lawyers.

The ABA believed that lawyer advertising was unprofessional and cast a negative light on the profession. There was also the concern of encouraging frivolous cases and clogging the courts. According to the Chicago Bar Association, “The most worthy and

effective advertisement possible…is the establishment of a well-merited reputation for professional capacity and fidelity to trust.”

Lawyers were, however, allowed to be listed in legal directories, like the SBM Member Directory, and could also print business cards and use professional letterhead. They were back to the days of face-to-face networking, building their relationships with clients one person at a time.

Bates v State Bar of Arizona

That is how things stood until 1974, when John Bates and Van O’Steen founded their practice in Arizona. They decided to focus on a large number of small cases such as uncontested divorces, adoptions or simple bankruptcy to support their practice. To get the word out, they placed an ad in the Arizona Republic on February 22, 1976.

The State Bar of Arizona suspended Bates and O’Steen for six months. The lawyers challenged the decision and eventually the matter was heard by the Supreme Court of the United States, which ruled in their favor. The Supreme Court removed the ban on advertising stating that it “inhibited the free flow of information and kept the public in ignorance.”

The Court, however, did allow the State Bars to “regulate” advertising to make sure the information offered was true and didn’t mislead consumers.

The day after the Supreme Court decision in 1977, Group Matrix, an advertising agency, obtained their first legal client. In those years, they advertised for personal injury lawyers on television, radio, outdoor advertising on billboards, benches, taxis, buses and yellow pages. Over time, the yellow pages have faded away and the agency added a web service. 

How do lawyers advertise in 2016?

In many ways, advertising of legal services follows the same path it followed in the early years. We still advertise on TV, radio, billboards, taxis, buses and benches. What has changed is the addition of the Internet which gives lawyers another way to gain name recognition, impart information to prospective clients and establish their brand by creating websites and writing blog posts.

And, we are subject to the Michigan Rules of Professional Conduct on advertising, which are in the section titled “Information About Legal Services.” One of the rules requires “A copy or recording of an advertisement or communication shall be kept for two years after its last dissemination along with a record of when and where it was used.” {Rule: 7.2 (b)} That rule includes material on your website. Remember to give it a read.

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