Episode Summary In this episode, attorney Laura Cowan discusses the various hurdles faced by estate planning professionals when launching their own practice. She talks about the importance of overcoming perfectionism, learning how to market effectively, and finding a niche within estate planning. Laura emphasizes the significance of education, networking, and building relationships with other professionals in the industry, particularly financial advisors and CPAs. She also explores effective marketing strategies, including workshops, referrals, and networking organizations like BNI. This episode provides actionable advice for new attorneys looking to start an estate planning practice and for those navigating the challenges of entrepreneurship.
Time Stamps:
- 00:00 – Welcome to Beyond the Legal Pad
- 00:34 – Discussing the biggest challenges estate planning professionals face when launching a practice
- 02:37 – The importance of marketing in starting your own practice
- 03:02 – New membership for law students to prepare them for starting their own practice
- 04:23 – Steps for launching an estate planning practice: Hiring a coach and using drafting software
- 05:47 – The importance of having a niche or specialization in estate planning
- 07:36 – The "riches are in the niches" principle and choosing the right client base
- 08:42 – Effective marketing strategies for estate planning attorneys
- 10:12 – Networking tips and the value of building relationships in business
- 14:01 – The power of Business Networking International (BNI) for estate planning professionals
About the Show
Welcome to Beyond the Legal Pad with attorney Laura Cowan, where we explore estate planning with an emphasis on empowering individuals and families to make the right decisions today for their future well-being. Laura Cowan simplifies the complexities of estate planning, ensuring that clients' wishes are honored and their loved ones are protected. In today’s episode, Laura shares insights on launching a successful estate planning practice, overcoming common challenges, and establishing a strong foundation for long-term success.
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