Personal Injury and Mass Tortes with Adam Krause

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Summary:

In this week’s episode of The Law Practice Doctor, Sam Gaylord interviews Adam Krause, who is a Kansas City attorney and one of the founding partners of Krause and Kinsman Law. Adam’s emphasis is in trial practice and litigation that focuses on personal injury and mass torts. During this episode, Sam and Adam discuss the draw of creating your own practice, obstacles when starting up, newsletter marketing, creating and repurposing content, growing your list, and the power of referral programs.

 

Main Questions Asked:

  • What pushed you to create this law firm for yourself?
  • What have you found to be the business hurdles and obstacles, and how have you overcome them?
  • What are you doing in terms of marketing?

 

Key Lessons Learned:

Financials

  • Adam broke down the finances of what an employee at a small law firm would be paid as opposed to what a business owner could make. He chose to open his own firm.
  • The problem with many solo and small law firms is that the people are good lawyers but don’t take the time to become good business people.
  • Adam figured out that he could make the same amount as a salaried lawyer by taking on about four cases of his own.

 

Obstacles & Priorities For Young Attorneys

  • Adam was told that he was ‘too young’ to be a lawyer, and no one would to trust him. It turned out this wasn’t a big hurdle.
  • Capital is the number one hurdle in starting a law firm. The reason to have more capital is to take on bigger cases.
  • The Slight Edge is all about doing something every day that helps the development of your law firm and to help you be successful.
  • When starting out, it is important to be fiscally responsible from a long-term point of view rather than a short term.
  • If cash flow is king, then content is queen.

 

Newsletter Marketing

  • Adam’s firm creates a monthly newsletter that details the success of the practice that month.
  • The newsletter also features an interview with a person from a local philanthropic or community service event.
  • This interview helps with sharing the newsletter to a larger audience, adding people to the list, and backlinking on other sites.
  • The newsletter is done in-house and takes around two hours to create through MailChimp.
  • The list was started with 600 mail addresses and is now around 2,000.
  • Each newsletter send will result in around four new cases.

 

Video

  • Create a video where it can be used on a landing page with a special URL and can be included in the newsletter.
  • This is essentially a ‘capture landing page’ to get people into the funnel.
  • Aim for 3-5 minute videos on a specific topic with a call to action at the end.

 

Repurposing Content

  • Start with a blog post that outlines the content.
  • Create a video.
  • Take the audio from the video and use it as a podcast.
  • Take the podcast and use it on SlideShare.
  • If the podcast is successful, then create a follow up blog post.

 

Creating Content

  • Many say it takes too long to create content, but it is possible to create a week’s worth of content in a two-hour period.
  • Have you tried to create a system to cut down on the time but maximize the output?

 

Speeding Tickets & Growing Your List

  • This idea was born from jealously of workers compensation lawyers who had a lot of volume and defense attorneys who had monthly revenue.
  • A lot of lawyers think of speeding tickets as ‘low society’ or not ‘brilliant’ legal work. However, it is a great way to meet a lot of people quickly.
  • Adam implemented a system in his firm that is a separate website without his name or branding.
  • Essentially, this is a landing page website that uses Google AdWords to get clients to contact him about speeding tickets.
  • The two rules in Adam’s firm relating to the speeding tickets are:

1) If it is simply an email and it can be done for $200, they will do it themselves.

2) If it can’t be done, then the case will be sent to another attorney, and they will co-council and pay Adam’s firm $100.

  • The client goes into the funnel, and someone from the firm personally contacts them at least once a year via phone.
  • This speeding ticket revenue generally pays for the office overhead and all costs but salary.

 

Referral Program

  • Adam created a list of plaintiff attorneys and workers compensation attorneys. He then organized the list into tiers from million dollar cases down to up-and-comers.
  • Each tier has explicit directions such as making contact a certain amount of times per month.
  • Adam worked a sales strategy around the attorneys by taking them to coffee and sending them newsletters, emails, and invitations.

 

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!

 

Links to Resources Mentioned

Adam@Krauseandkinsman.com

816-226-7485

Krause & Kinsman Law

Law Firm Confidential 

The Slight Edge

MailChimp

 

Click To Tweet

How did a young lawyer grow his list through speeding tickets? Find out w/ @KrauseKinsman @gaylordpoppllc http://www.gaylordpopp.com.com

Does your firm have an effective referral program? Get tips here w/ @KrauseKinsman @gaylordpoppllc http://www.gaylordpopp.com.com

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