If you are the owner or managing partner of a small law firm or solo practitioner looking for ways to quickly increase the profitability of your firm or practice, without spending a penny on marketing or advertising, there’s no better way to do that than by embracing the power of compounding growth in your business. Compounding growth can change everything financially in your firm in a positive way, fast. 

My best guess is you have likely heard the old adage that if you start with a penny and then double that penny every day for 30 straight days, by the time you get to day 30, you’ll end up with a whopping and almost unbelievable $5,368,709.12. That’s the incredible power of compounding growth. 

What I’m going to share with you is a form of compounding growth that we call Profit Acceleration.

I’m also going to share some even better news… what if you didn’t have to double your results to see a similar compounding growth impact in your business?

For example, suppose you are a small personal injury law firm or solo practitioner.  One of the primary ways you generate new leads is by attending networking events with other lawyers and doctors. At these events, everyone that attends has 30 seconds to tell everyone else what they do and ask for referrals.

You typically say something like this… “My name is Mary Johnson and I’m a lawyer specializing in handling personal injury cases. I’m looking for people who have recently been injured in accidents. I have 15 years of experience and a solid track record. Let me know if you know someone I can help.” 

Now, stop and think about the following questions. Did you find that compelling? Did that make you want to run right over to Mary and give her as many referrals as you can? Probably not.

But what if Mary changed her pitch and said something like this: “My name is Mary Johnson and I specialize in helping families put their lives back together after a loved one has been injured in an accident caused by someone else’s negligence.  Not only do I help those families put their lives back together, I also protect them and make sure they are fairly compensated for their pain and suffering, lost wages, and any other financial harm caused by the accident. Please let me know if you know someone I can help.” No doubt you agree that our new message will generate much more interest than the original.

Now, if Mary’s original networking message generated an average of two leads a week or about 100 leads per year, would it be safe to assume her new message might generate 103 leads this year? That’s merely a 3% increase. Do you know how easy it is to get multiple 3% increases throughout various areas of your law practice? When you understand and implement the business growth strategies I share with my clients, attaining a 3% increase is simple and easy to achieve.

I’m going to show you exactly how you can do this, without spending an additional cent on marketing or advertising. 

By the way, the lawyer who used that second message saw his leads actually double which is a 100% improvement. I like to set reasonable expectations so let’s keep our impacts conservative at a 3% to 5% gain.  When a 3% gain is multiplied over a dozen different areas of your law firm or solo practice, you will generate dramatically profitable gains for your business.

Here’s the key: if you want to double your profits, you probably don’t need more than a 3% increase in each of the 12 areas. Indeed, in many cases, I can show you how to double your profit by making a small 5% adjustment in just two areas of your business. Small goals are easy to achieve and cause very little disruption to your business. Sure, you set even bigger goals, but based on our experience you’ll see the numbers quickly increase exponentially by simply achieving small business growth goals in your business.

There is one more thing I want to share with you. When you achieve a compounding growth impact in the first area of your business, you will earn a certain amount of profit. If you achieve a similar result in a second area, the impact on your bottom line starts to compound. It’s not the same incremental increase. Think of it this way: 3% of $1,000,000 is $30,000. 3% of $1,030,000 is $30,900. When you leverage the power of compounding growth, your numbers keep growing like the 30-day experiment that turned a penny into more than five million dollars.

So, what impact will you see by putting the power of compounding growth to work in your business? What if your business numbers told a different story? A story of compounding growth and accelerated profits? My colleagues and I have developed a tool we call the Profit Acceleration Simulator to help you discover the true impact that the Power of Compounding can have on your business. If you would to see for yourself what your business’ numbers could look like, I invite you to use our Profit Acceleration SimulatorTM for free to discover the true impact of a conservative estimate of Profit Acceleration initiatives on your business. 

Click here to gain free access to the Profit Acceleration Simulator.