Showing posts with label professional services. Show all posts
Showing posts with label professional services. Show all posts

Thursday, May 14, 2009

Tracking (and Billing) Time


I've been reading numerous articles and posts lately about how much billable time is not billed. Expert consultants that bill by the hour (which should be most, since billing based on outcome is unethical!) are definitely at risk. In our fast-paced world of constant email, phone calls and other interruptions, it is easy to neglect writing down that fifteen minutes working on X before the next interruption. Later, you may not be sure or may think "it wasn't enough to worry about" and so on. But that time adds up and let's face it, your time is money.


I know there are many time-tracking tools, both online and in billing software. Are you using any? What would you recommend to other experts?

Tuesday, January 06, 2009

Marketing Resolutions



Have you made any marketing resolutions for the New Year? This post from Lyne Noella might spark some ideas for your own practice. She listed her Top 5 New Year's Resolutions, all applicable to expert witness/professional services marketing.



(Hat tip to Michelle Golden for the heads ups on this post)

Wednesday, December 03, 2008

Expert Witness Resource Round-Up

A few resources to investigate and read while waiting in the airport or escaping from the in-laws over the holidays:

One of our newsletter readers alerted me to a document from the Federal Judicial Center, "Manual for Complex Litigation." Written by and for judges, it contains good information about what is expected at each stage of litigation, who is supposed to attend various conferences, rules of discovery, etc.

Roger Matus of the Death by E-Mail blog, produced a list of 10 Things to Never Put in Email - especially relevant for expert witnesses. Remember, everything you say or write can come back to haunt you or even ruin a case.

Over on the Juris Pro blog, Karen Olson has posted a short list of "Practice Tips on Expert Witness Fees."

IMS ExpertServices identifies the "Top 10 Expert Witness Cases of 2008" in their December newsletter.

The 2009 Annual Conference of the Forensic Expert Witness Association will be held February 26-28 in La Jolla, California. As the online brochure explains, this conference is designed to help experts of all disciplines stay on "the cutting edge as it relates to courtroom presentation and written work product." Presenters include well-known attorneys and experts.

Here's an older article you would have to hunt down (see if you could borrow an issue from an attorney), but in the October issue of TRIAL magazine, hotel expert Peter Tomaras along with attorney Alison Werner Smith published the article, "Closing the Attorney-Expert Gap." The format makes it quite compelling, providing both the expert's perspective and that of the attorney.

Happy Holidays!

Friday, May 23, 2008

Marketing Professional Services Can Be Risky


Marketing an expert witness practice carries its own unique risks, but marketing any professional service takes some courage. How do you know it will work? What if it not only fails, but alienates potential clients? Not to mention that you've probably put a hefty chunk of change into the effort.

Bruce W. Marcus, international pioneer in professional services marketing, has written a great essay "Is Marketing Worth the Risk?" in which he addresses those risks and ways to mitigate them. A good read and worth your time.

Saturday, March 22, 2008

Charging for Your Time


Do you charge for every minute you spend working on a particular project or case? What about when a past client calls and asks you to look up a detail in an old file? It may take you fifteen or twenty minutes to find that file and then another ten to email or call the client back. Do you charge for it or chalk it up to part of doing business?

What about those five minute phone calls for updates or "I need this document" or "the deadline for this is..."?

These "little" interruptions can quickly add up to billable hours you are missing out on. How do you handle it?

Tuesday, January 01, 2008

Expert Practice Management


One reader of our newsletter for experts recently shared with me these business model suggestions he uses in managing his own expert witness and consulting practice:
"These are basic operating rules that, in my opinion, if broken will cause problems:

1. Keep a low overhead. I work from my home, have resisted the temptation to pay anyone else rent. If the money is not coming in I don't have someone else looking for a check every month.

2. Stay out of debt. This sinks most businesses. I have a new car but it's not a Mercedes, BMW, etc. and I keep them 6 or 7 years. If you need a new car for a site visit or to impress a client, rent one for the day.

3. Keep a cash reserve. I always have at least a year of operating revenue in a CD. I do this not only for bad times but in place of buying disability insurance which has at least a 90 day deductible and is very pricey."

Do you agree with these suggestions? What are your "hard and fast" rules for maintaining a healthy practice? Share your policies and procedures in the Comments.

Wednesday, December 19, 2007

Website Question Made Our Day

In a recent email to our newsletter subscribers, Rosalie gave her views about the current economy and the subsequent need for professional service providers to spark up their businesses. The very first email received in response was from a long-term client asking whether his website that we had created several years ago needed to be updated. The kicker that we found so inspiring - this expert, still fully practicing both in his profession and in legal work, is 75 years young! May we all stay so ignited and inspired for years to come.

Sunday, November 18, 2007

Marketing Your Professional Services Is Not Optional

Happy Thanksgiving! In appreciation of all our experts I would like to share one of Rosalie's best essays about expert witness marketing. If you are one of the many who, like my mother Rosalie, will be traveling this week (she's headed to her hometown, Wichita Falls, TX), print this out and you'll have something to read while waiting at the airport!

Marketing Your Professional Services Is Not Optional --

Sometimes professionals say, “I don’t market my services; I rely on word-of-mouth to get business.” They don’t seem to realize these two statements are contradictory -— if they are getting plenty of referral business, they have marketed their services quite well! The issue is not a decision of whether or not to market your services, but is instead a decision of whether to assume responsibility for it and become more effective at it.

Actions you might not realize are marketing decisions:

  • What you name your business

  • What information you print on your business card

  • How you let people know you are available

  • How your resume or company brochure looks

  • Who answers the telephone and how

  • How you dress for encounters with prospective clients

  • How you respond when someone asks what you do

  • How you treat not only clients and prospects but also employees, associates and even competitors

All of these factors contribute to the image people form of you and are far more critical to the success of your business than you might realize.

For instance, does your business name indicate what services your business performs? If it doesn’t, is your business name accompanied by a tagline that states your field of work?

Does your business card provide all necessary data such as the type of work performed and your complete contact information? As a marketing consultant reviewing and analyzing professionals’ marketing materials, I see cards with important information omitted, such as the email address and even telephone area codes. I’ve seen two cards with no zip code after the address. What do these cards say about the professionals, i.e., what impression does their marketing create?

Particularly if you have chosen not to advertise your services, how did you announce that you had opened a business or practice? However you did it, and whether you did it effectively or not, it was a marketing action.

You're Not Alone

Fortunately, you’re not expected to already be knowledgeable about marketing, any more than you would expect people in other professions to be proficient in your discipline. Marketing help is available from books, magazines, the Internet, knowledgeable friends and marketing professionals. The key point is to realize that the decisions and actions that create others’ perception of you should be planned and well thought-out, as they constitute your marketing.

Prospective clients have no way of knowing what quality of service you will provide, so they must take clues from the appearance of your business card, stationery, resume or brochure and other materials, and website; your physical appearance and grooming; your manners and communication on the telephone; and even your promptness in returning phone calls.

The quality of your materials influences the perceived value of your services. Printed materials, whether produced professionally or on your personal computer, don’t have to be costly, but they should be error-free. Typographical, spelling, punctuation and grammatical errors in printed materials are inexcusable. We all make mistakes as we create and craft, but editing, correcting and proofreading comprise the second half of the job.

It is critical to have someone else proofread your writing and composition, because we all have difficulty finding our own mistakes. I frequently notice errors in professional brochures, even some that are quite expensively prepared. I have to conclude that not enough people proofread them.

Your Office Speaks

Often the initial impression you make on a prospective client results from the phone response in your office. If the phone rings several times before being answered by a person or a recording, the caller feels that his time has been disrespected. If the person answering is flippant, cold or, worse, rude, your image has been tarnished, perhaps permanently.

The time it takes you to return calls answered by someone else on your voice mail or through an answering service is also a factor in the prospect’s view of your services. An inquirer can’t help but associate your promptness or tardiness with your perceived work ethic and respect for deadlines.

In addition, if you determine that you can’t or won’t accept the proposal, are you as polite and as helpful as possible under the circumstances? You may not want this engagement, but you do want this person to be a referral source—the most effective kind of marketing.

Appearances Do Matter

Dressing for success” doesn’t necessarily mean wearing a suit for a man, or stockings and low heels for a woman if she wears a dress or a suit with a skirt. What it does mean is deliberately deciding what to wear for encounters with prospective clients, keeping your impression in mind. Whether the most effective look would be a business suit or other attire representing your profession or trade is an individual decision, but make it a conscious decision, because it matters. Perhaps a person could be sloppy or careless in appearance and be meticulous in work performance, but the prospective client has no way of knowing that—he can only conclude by what he sees and hears.

Does Your Dry Cleaner Know What You Do?

When asked what services your company provides, do you respond completely, smoothly and briefly or do you stammer, give a terse, incomplete description or ramble? Articulating your area of expertise and services is the core of marketing. Compose a brief statement that explains your work, using words people outside your profession will understand, and practice saying it aloud.

Business owners don’t always realize that their services are publicized, either positively or negatively, by individuals they might not consider referral sources or detractors. Employees discuss their work with others. Competitors speak either respectfully or resentfully about you, based, at least in part, on your attitude and actions toward them.

Remember that when you interact with another person, regardless of who the person is, you are marketing yourself and your services. You are enhancing his picture of you, or you are diminishing it.

____________________

Performing marketing is NOT optional. Marketing is the actions, whether deliberately strategized or unplanned, that communicate the availability, quality and value of your services. Marketing shapes the image people hold of you and your business and reflects your judgment, thoroughness and professionalism. You can take charge of this message and make it contribute to your success.

by Rosalie Hamilton, the Expert's Expert, author of The Expert Witness Marketing Book and President of Expert Communications, the business development firm helping experts get more clients.

© 2007 Expert Communications. All rights reserved. www.expertcommunications.com