7 Smart LNC Business Management Tips

You can get a lot of confusing advice about managing your legal nurse consulting business. These business management tips cut through the often conflicting advice and focus on the essentials. I’ve modified them from a talk I heard Matt Bacak give last weekend. Matt is a highly successful internet marketer who has overcome many business challenges.

Be clear about what you want

When you are marketing, be direct; don’t beat around the bush. What do you have to offer? What are you asking of the potential client? What do you want from your current client? Be clear on the outcome you want – a new case, missing medical records to be sent, or an invoice to be paid. People have short attention spans, are busy, and want you to be direct and brief. Communicating with attorneys is much like calling a doctor to get an order. Be specific about what you need.

Don’t trip over the pennies on the way to the dollars

It costs money to start a business and present an effective professional image. Don’t use a do it yourself website that screams you put it together. Get advice from an experienced LNC coach rather than flounder and get discouraged by your challenges. Recognize that sometimes you have to be flexible when you negotiate with attorneys to get your bills paid. Giving up a minor point is sometimes necessary. Keep in mind that attorneys are very good negotiators and look for concessions, particularly when they are not happy with the work product. Don’t focus on winning the battle while losing the war.

Focus on the client, not on yourself

What do you need to do, change, modify or stop doing in order to please your clients? How can you describe your services in terms that stress the benefits to the client? How can you differentiate yourself from other LNCs? When you look at LNC websites, including your own, do you see the same list of services? Look at your marketing material and circle every “I” you see and work to replace these with “You”. For example, instead of writing, “I organize medical records”, write “You will receive well organized medical records that will enable you to quickly locate information in the chart.” The first statement is a service, the second statement is a benefit. Spell out the benefits you provide to your clients by focusing on their needs, not on your own.

Know your numbers

What are your expenses? What percentage of inquiries you receive result in a case? What is your profit? Learn how to run profit and loss reports in your accounting software or request your accountant to give you these reports every month.

Don’t be blinded by your passion

Listen to what your clients or prospects say in response to your ideas. Just because your friends and family think your idea is good does not mean it is. Find out what your clients need and give it to them.

Clients want to see you have other clients

Making the client think or telling him he is the only one you are working with is a bad idea. If no other attorneys are using your services, your one client may wonder why. I found my clients loved it when I shared feedback (but not confidential information) about how other attorneys responded to a specific expert witness. It is also a terribly dangerous situation to get into to rely solely on one attorney or law firm for business. A ripple in their practice may create a wave in your business.

Be courageous

Being in business is tough. There are challenges nearly every day. Sometimes you have to grab your courage. Or in Matt’s case, he grabs his brass balls, shown in the picture above.

Pat Iyer provides coaching services to LNCs who want to get more clients, make more money and avoid expensive mistakes. If you are serious about growing your business, click on the nurse holding the piggy bank on the right side of this page to request a chance to speak to Pat.