I recently came across this video by Merv Symes. He’s a consultant that helps $10-plus million companies implement stronger processes. Four things stood out and they’ve made a difference for us at Knackly. I share them here, with a link to the entire video below. Maybe they’ll make a difference in your business! Cheers.
Working IN your business is performing the day-to-day routine. We spend all our time here because we feel busy and it never seems to stop. STOP!
Working ON your business is spending time in the step-backed view, where you can identify and correct fundamental problems. START!
“Every dollar spent working ON your business, results in three dollars of revenue!”
If you don’t have the right processes, your business cannot grow.
How does this apply to your practice?
If you’re like several of my attorney/entrepreneur friends, you’re busy and never seem to have enough time. You’ve got ideas and plans, but implementing them is always so hard—or impossible. So many plans will be taken care of “tomorrow.”
Yet “tomorrow” never comes. You’re stuck working IN your business.
We understand this pain. Inefficiency is as frustrating as it is costly!
How do you get out of it?
Start by dedicating time. Take thirty minutes a week. Pretend you’re a stranger looking at your business for the first time. Who does what? Where does the workflow? What takes the most time? Where do jams occur?
Make lists, consult with your management and staff and write down ideas to improve efficiency and workflow.
The key is, choose ONE item (a department, workgroup, workflow, etc.) to WORK ON each week. Prioritize your list and move through each area, until you’ve audited each of them. You will be better able, then, to see how your systems, people, and processes might interact more efficiently.
Then, identify new procedures, implement new tools and make any changes you need to achieve the efficiency gains you need!
Time spent working ON your business can often feel like an indulgence or, even, a waste of time, but what a mistake that is! Remember: every dollar put working on your business will result in 3 dollars of additional income.
I hope you get as much out of this as I did.
And, as soon as you’re ready to analyze your document creation procedures, give us a call.
We’re helping law firms like yours save 90% of their drafting time—with absolutely zero errors.