61 episodes

This podcast is dedicated to helping attorneys earn more money, get better clients and spend more time with family. Your host, Alay Yajnik, is a law firm growth expert, author, and the founder of Law Firm Success Group. Get inspired, learn best practices, and get ready to grow your law firm faster and easier with this informative and inspiring podcast. Listen, learn, and remember: You CAN seize freedom. You CAN embrace happiness. You CAN build your Perfect Practice!

Lawyer Business Advantage Alay Yajnik

    • Business
    • 5.0 • 5 Ratings

This podcast is dedicated to helping attorneys earn more money, get better clients and spend more time with family. Your host, Alay Yajnik, is a law firm growth expert, author, and the founder of Law Firm Success Group. Get inspired, learn best practices, and get ready to grow your law firm faster and easier with this informative and inspiring podcast. Listen, learn, and remember: You CAN seize freedom. You CAN embrace happiness. You CAN build your Perfect Practice!

    The #1 Business Development Mistake that Lawyers Make...and 3 Tips to Avoid It!

    The #1 Business Development Mistake that Lawyers Make...and 3 Tips to Avoid It!

    In this episode, I share with you the biggest business development mistake that lawyers make …and three tips on how to avoid it!

    Alay Yajnik: [00:00:01] In this episode, I talk about the number one mistake that lawyers make while in business development meetings, it costs them clients and it costs them revenue. We also talk about three things that you can do to avoid that mistake from happening. Coming up next on Lawyer Business Advantage. Welcome to Lawyer Business Advantage, your source for biz dev tips, wisdom and inspiration. I’m your host, Alay Yajnik. We’re unleashing your inner rainmaker in 3…2…1….

    Alay Yajnik: [00:00:49] My name is Alay Yajnik and I’m a business development coach and trainer for Lawyer Business Advantage. Now, I don’t believe in the mystical art of rainmaking. I believe that there is a rainmaker inside all of us, including you. The reason this podcast exists is to help you unleash your inner rainmaker through inspiring true stories, best practices and tips. Today, we’re gonna go through some tips. I’m going to share with you today the number one mistake that I see lawyers make over and over and over again during biz dev meetings and how to avoid it. You see, making this mistake cost lawyers more clients and more income than anything else that they’re doing in their practice. But here’s the good news: Just by avoiding this mistake, lawyers dramatically increase their chances of signing the client. And the mistake is super-easy to avoid.

    Alay Yajnik: [00:01:39] Here’s the mistake when it comes time to ask a potential client for their business. This is otherwise known as “closing the client.” The lawyer completely botches the ask. Or worse, they never actually ask for the business. They just let the moment float right by the potential client. The P.C. says, you know, “I want to think about it.” And then they’re gone. Probably never to return. The thing about it is this situation is totally avoidable. You never need to be in this situation again if you follow these three tips.

    Alay Yajnik: [00:02:12] OK, here’s tip number one: Memorize the ask. Look, you’re going to be asking them for the business. So memorize the words you’ll use to ask for the business. That way it happens automatically. And it just rolls right off your tongue. If you need to, you can even write it down in your notepad so you can refer to it during the client meeting. And bonus points, by the way, if you have your standard fee agreement ready for their review.

    Alay Yajnik: [00:02:38] Now, I know what you’re going to say. You can’t do that because you have to customize your standard fee agreement for your client, et cetera, et cetera. I know. But here’s the thing: You can always update it later for their signature. But going through the standard fee agreement with them while they’re there -while they’re meeting with you- dramatically will increase your chances of closing the client.

    Alay Yajnik: [00:02:58] So let’s get back to closing. My favorite way to ask for the business is using two sentences. Sentence number one: “Do you have any questions?” Look, if they say yes, then you answer the questions and then ask that again: if they have any more questions. When they say “no,” when you finally answered all the questions and they say, “No, I don’t have any questions,” Then I respond with sentence number two, which is, “OK. The next step is for us to review the fee agreement and collect the deposit.” And then we do and then we do just that. This is called the Assumptive Close. It’s really classy. It’s low pressure, but it’s incredibly powerful because we never asked for the business directly. We just assume they’re going to move ahead.

    • 6 min
    Stop Compromising and Seize Your Success with Alay Yajnik

    Stop Compromising and Seize Your Success with Alay Yajnik

    In this episode, Alay discusses: 



    Why we may compromise or settle (and when we really shouldn’t). 

    Understanding what you want for your firm and what your goals are in developing your practice. 

    Setting your sets high. 

    An exercise in compromises.



     

    Key Takeaways: 



    You did not start your solo firm to compromise on the things that are important to you. 

    It may take you a bit of time to figure out how to solve your problems, but they are solvable. 

    You don’t need to figure out the how right now. You only need to figure out the why and the what.



     

    Tweetable Moments:



    * “I took my mindset, which said that it can’t be done, I put that aside, and I said, I’m going to figure out a way to make it happen.” —  Alay Yajnik

    * “No matter how high you set your goals, or how low you set your goals, you’re probably going to work just as hard. ” —  Alay Yajnik

    * “You don’t need to know how you’re going to do something. Focus first on the why and the what.” —  Alay Yajnik

    * “You only get started when you commit to it first.” —  Alay Yajnik



      

     

    Connect with Alay Yajnik: 

    Program: LAWnch: Design Your Ideal Practice

    Website: LawFirmSuccessGroup.com

    Email: Alay@YajnikGroup.com

    LinkedIn: linkedin.com/in/alayyajnik

     

    • 14 min
    How to Hire with Alay Yajnik

    How to Hire with Alay Yajnik

    In this episode, Alay discusses: 



    How and when to hire attorneys and staff. 

    Critical mistakes people make when hiring. 

    Best practices for hiring attorneys and staff



     

    Key Takeaways: 



    Hire before you are doing the work of two people so you have time to search for the hire, train them, and do so without exhausting yourself. 

    Take time every week to hire an employee – up to 5 hours per week when you are on that job search.

    Create your wish list – the attorneys and staff you’d love to work with



     

    Tweetable Moments:



    * “You want to hire early. Consider it an investment in your firm.” —  Alay Yajnik

    * “You do not need to hire someone full time.” —  Alay Yajnik

    * “Hiring an employee is much more difficult than finding clients.” —  Alay Yajnik

    * “Even if you’ve got three positions open, when you’re trying to leverage your network only discuss one position.” —  Alay Yajnik



     

    Alay is the author of Staffing Up: The Attorney’s Guide to Hiring Top Talent, the first book on hiring for lawyers. Alay Yajnik is a law firm growth expert and founder of Law Firm Success Group. He has run a $100MM business and built a $5MM business from the ground up. Alay’s team is dedicated to helping busy lawyers across the country make more money, work fewer hours, and spend more time doing the things they love by running their law firm as a business. Alay Yajnik holds an MBA in Finance and Marketing from Santa Clara University.

     

    Connect with Alay Yajnik: 

    Website: https://www.lawfirmsuccessgroup.com/book/

    One Page Strategic Plan: LawFirmSuccessGroup.com

    Email: Alay@YajnikGroup.com

    LinkedIn: linkedin.com/in/alayyajnik

    • 16 min
    Design Your Ideal Law Firm with Alay Yajnik

    Design Your Ideal Law Firm with Alay Yajnik

     

    In this episode, Alay discusses: 



    Connecting with “why” you started your own firm. 

    Embracing your role as the owner of your firm. 

    Designing your ideal practice while avoiding the How Trap. 

    Six areas to consider when designing your ideal practice. 



     

    Key Takeaways: 



    It is your firm, you do not have to follow the standard conventions that other law firms choose to follow. 

    When you are thinking about designing your ideal practice, think about “the why” and avoid thinking about “the how.” 

    Give yourself permission to push the envelope, dream big, and have fun.

    Be detailed with what you want, and why you want it. Once you commit to creating your law firm, the “how to create it” will come to you. 



     

    Tweetable Moments:



    * “Whether you’re really happy with your firm, or whether you’re really unhappy with your firm, it’s your law firm. This is the law firm that you own. And because you own it, you can do what you want.” —  Alay Yajnik

    * “The resources are out there, but first you have to decide the why and the what for your firm.” —  Alay Yajnik

    * “Give yourself permission to go for what you want.” —  Alay Yajnik

    * “The decisions you make in your law firm and how you run it are going to have a huge impact on the lifestyle that you have.” —  Alay Yajnik



      

    Connect with Alay Yajnik: 

    LAWnch: Design Your Ideal Practice

    Website: LawyerBusinessAdvantage.com

    Email: Alay@YajnikGroup.com

    LinkedIn: linkedin.com/in/alayyajnik

     

    • 17 min
    The Paradise Planner with Alay Yajnik

    The Paradise Planner with Alay Yajnik

    In this episode, Alay discusses: 



    The story of The Paradise Planner. 

    Understanding when you last took a vacation and what your next vacation will be. 

    The what and why of taking time off then committing to it. 

    Tips and tricks for helping you to take that time off. 



     

    Key Takeaways: 



    The things you need to take time off are the same things that you need to run your practice most efficiently. 

    Taking time off is better for you, your family, and your business. 

    Taking time off doesn’t require going on vacation, it may be just staying at home and recharging your batteries. 

    Calendar your time off now, even if you don’t have all the details. 



     

    Tweetable Moments:



    * “The things that I needed to do to structure my practice to take time off are the things that actually made a more systematized, more automated, practice. ” —  Alay Yajnik

    * “I want to challenge you to take more time off next year than you think you can.” —  Alay Yajnik

    * “Once you set your mind to it, you can do it.” —  Alay Yajnik

    * “Anything is possible as long as you understand what you’re trying to accomplish and why.” —  Alay Yajnik



     

     

    Connect with Alay Yajnik: 

    Website: LawyerBusinessAdvantage.com

    One Page Strategic Plan: LawFirmSuccessGroup.com

    Email: Alay@YajnikGroup.com

    LinkedIn: linkedin.com/in/alayyajnik

     

    • 16 min
    Using Media Coverage to Grow Your Firm with Christopher Melcher

    Using Media Coverage to Grow Your Firm with Christopher Melcher

    In this episode, Alay and Christopher discuss:



    Marketing as an investment.

    Media as a way to grow your firm (and get instant credibility).

    Being persistent in working with the media.

    The importance of building relationships with specific reporters.



     

    Key Takeaways:



    Other lawyers can be your best referral sources – consider the events you go to, the events you speak at, and where you are getting your best hand-to-hand marketing done.

    “Maybe one day” isn’t an answer. You can do it now! Stop holding yourself back.

    Journalists are always writing multiple stories each day. Even if they don’t like your pitch, they may need you for something else.

    Presenting for the media will help you to be more professional in court as well, based on gestures, language, and other ways that you present yourself.



     

    Tweetable Moments:



    * “Every moment that we spend on marketing and business development is a moment that you can’t spend billing and, more importantly, are moments that you can’t spend with your family, friends, or doing a hobby.” —  Christopher Melcher

    * “Time is your most precious asset. You can’t get more of it, you can’t save it up, and it just goes. With that in mind, marketing is an investment. It’s an investment of time, it’s an investment of money, and you need to get a return on that investment.” —  Alay Yajnik

    * “Start as local as possible – don’t go to the big national news outlets just because they get a lot of attention.” —  Christopher Melcher

    * “The social proof element is huge, particularly if you’ve built up a half dozen or more interviews or articles.” —  Alay Yajnik



     

     

    About Christopher Melcher:

    Business owners, celebrities, and trust beneficiaries across California turn to Christopher Melcher for assistance protecting their most valuable assets in high stakes divorces. With deep experience in complex family law litigation and premarital agreements, he provides tactical representation in the most challenging family law disputes.

     

    He understands the need to keep sensitive family matters private, having represented noteworthy clients in the largest divorce cases in California. Clients include A-list celebrities, executives, and tech company founders. He is frequently hired by other family lawyers as a consultant, expert, or co-counsel on significant divorce cases in California.

     

    His passion is helping others and he loves the law. His father was a trial lawyer and heI learned not only how to be a lawyer from him, but what it means to be a lawyer.

     

    He has presented about 200 continuing legal education programs to other attorneys on complex family law issues and is a published author in California premarital agreements and financial issues in divorce. He also wrote the only treatise on California premarital agreement law, published by LexisNexis.

     

    He is an adjunct professor of family law at Pepperdine University School of Law in Malibu. Before entering family law exclusively, he practiced criminal defense and civil personal injury litigation.

     

     

    Connect with Christopher Melcher:

    Website: https://walzermelcher.com

    Facebook: https://www.facebook.com/WalzerMelcher/

    Twitter: https://twitter.com/lafamlaw

    LinkedIn: https://www.linkedin.com/in/ccmelcher/

    LinkedIn: a href="https://www.linkedin.

    • 31 min

Customer Reviews

5.0 out of 5
5 Ratings

5 Ratings

LawMentor ,

Knowledgeable and Informative

This is a great podcast with actionable information. Glad I started listening to it.

J|L|L ,

Excellent and Practical Advice on Business Development

Alay does a great job at pointing out the gaps in lawyer business development. His practical tips for sales are just what many lawyers need to step up their practices.

Top Podcasts In Business

Ramsey Network
Andy Frisella #100to0
NPR
BiggerPockets
Tim Ferriss: Bestselling Author, Human Guinea Pig
NPR