Transcript WealthCounsel PowerPoint Template

The 5 Things I
Wish I Had Known My
First Year of Practice
Audrey J. Ehrhardt, JD
Director, ElderCounsel Office Management
October 8, 2014
Audrey J. Ehrhardt, JD
Director, ElderCounsel Office Management
Direct Telephone: 850.692.6492
Email: [email protected]
Audrey joined ElderCounsel in 2013 and serves as Director of Office Management. As the Director of Office Management,
Audrey wants to bring well-developed, efficient systems to every law office. "Successful law practices are busy places," she
states. "I want to help attorneys unlock their ultimate practice potential with efficient, streamlined office management
procedures that can increase the productivity and profitability of their law firms.“
Prior to joining ElderCounsel, Audrey was a practicing elder law attorney in Florida and the owner of The Ehrhardt Elder Law
Offices, P.A. Audrey’s practice focused on estate planning, probate and trust administration, wealth preservation and
asset protection strategies for seniors in need of long-term care options with eligibility for Medicaid and Veteran Affairs
programs. One of Audrey’s practice goals was to create a dedicated environment where elders and their loved ones knew a
team supported them when making important legal planning decisions. During her career she developed many successful
office management procedures focused on both administrative efficiency and the cultivation of a referral based law practice.
Audrey received her Bachelor of Arts from Florida State University in 2001 with a major in both Classical Archaeology and
History. She received her Juris Doctor from the Florida State University College of Law where she was a member of the mock
trial team and was admitted to the Florida Bar in 2004. She is an attorney accredited by the Veterans Administration
and is a member of National Academy of Elder Law Attorneys and the Academy of Florida Elder
Law Attorneys. While practicing law, Audrey simultaneously owned a custom cake bakery.
In 2012, she moved to Tallahassee with her husband, son and two dogs.
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Presentation Overview
1.
2.
3.
4.
5.
The Business Plan
Your Referral Network
Administrative Structure
Where to Find the Answers
The Most Important Thing to Clients
The Business Plan
THE 5 THINGS I WISH I HAD KNOWN
MY FIRST YEAR OF PRACTICE
Give Yourself Operational Support
• Explains your law practice
– Helps you to understand what you are doing
– Creates clarity on what you are not doing
• Operational Guide for your law practice including:
o Short term objectives
o Long-range projections and goals
Create Operational Structure
• Creates a structure for you to follow
– Budget and finances
– Administrative needs and support
– Marketing
• Set a plan to reach (and exceed) each goal
• Baseline for practice growth evaluation
Business Plan Nuts and Bolts
• Executive Summary
• Practice Area Information or Industry Review
• Operational Plan
• Management Summary
Business Plan Nuts and Bolts
• Financial Plan and Cash Flow Analysis
• Marketing Plan and Analysis
• Timelines for Short Term and Long Range Goals
• Performance Markers of Success
Audrey’s Suggested Reading
“The single biggest challenge to any
organization is the constant cloud of fear and
doubt that swirls around the heads of the
people involved. As a leader, your job is to hold
fast to the big picture, to keep seeing in your
mind’s eye, with crystal clarity, where it is
you’re going - that place that right at this
moment exists only in your mind’s eye. And to
keep seeing that, even when nobody else does.”
The Referral Network
THE 5 THINGS I WISH I HAD KNOWN
MY FIRST YEAR OF PRACTICE
Before You Start Building
• Determine your ideal client for your law practice
 Who do you want to serve?
 What are those clients’ needs?
 Short term verses long range
 Where do these clients originate?
 Specific case features
 Such as health, finances, family dynamics
• Design several “example clients” and work
through each case
Identifying Community
Professionals
• Identify the community professional types who
serve the same ideal clients
– Consider the Referral Network from the
perspective of the elder law client
• Determine who you want to start a working
relationship with
Connecting with Community
Professionals
• Design a first interaction
• Have a one-on-one meeting
• Learn how you can help the community
professional
• Follow a plan to stay in communication
• Build a relationship
Administrative Structure
THE 5 THINGS I WISH I HAD KNOWN
MY FIRST YEAR OF PRACTICE
Understand What You Do in Your Office
• The Type(s) of Elder Law You Practice
• Clients You Work With
• Cases You Take On (and those you don’t)
• How You Hire a Client
– Engagement Agreements
– Trust Accounts
– Earning Fees
Understand What You Do in Your Office
• What Steps are Involved in Opening a Case
• Working on the case from start to finish
• Timelines
• Managing Client Expectations
• Correctly Closing a File
Moving Forward in Practice Growth
• Where do you need help right now?
• What parts of your caseload lack efficiency?
• What keeps you up at night?
• What will immediately increase profitability?
• Will an employee release this pressure?
Where to Find the Answers
THE 5 THINGS I WISH I HAD KNOWN
MY FIRST YEAR OF PRACTICE
Answering Tough Questions
• You don’t have to know everything
• Really, you don’t
• Start with reading the law
• Make sure you stay current in your field
– With federal and state law, admin code,
fair hearings, policy changes
Answering Tough Questions
• Know when to ask for help
• Find a mentor in your state and outside your state
• Build relationships with other lawyers who do not
practice what you do
• Be able to hire other lawyers when working on
a client’s case
The Most Important Thing to
Clients
THE 5 THINGS I WISH I HAD KNOWN
MY FIRST YEAR OF PRACTICE
Communication
“The number one complaint for 2011 was lack of
communication. About 10 percent of all complaints in
2011, 197 to be precise, were that a lawyer was not
adequately communicating or responding to requests
for information about the client’s legal matter.”
Oregon State Bar
Bar Counsel
Complaints About Oregon Lawyers: 2011 Trends from the OSB's Client Assistance Office
By Scott Morrill
http://www.osbar.org/publications/bulletin/12apr/barcounsel.html
Communication
• Returning telephone calls
• Answering emails
• Setting realistic case timelines
• Managing client expectations
• Prepare to handle client crises
Communication
• Establish boundaries
– In letters, in telephone calls, in emails
• Be prompt in meeting deadlines you set
• Follow your own follow through
• Be a leader at work
Thank You for Attending Today!
Let me know if you have any questions.
Audrey J. Ehrhardt, JD
ElderCounsel Office Management Director
Direct Telephone: 850-692-6492
Email: [email protected]
LinkedIn: http://www.linkedin.com/pub/audrey-ehrhardt/8/5b5/419/