Attorneys who work in trust administration know that revenue streams can be volatile—up one month and down the next. Not only does unreliable cash flow make running a practice stressful, but it can also hinder a firm’s’ long-term growth. So, how does one create a profitable, yet steady, revenue stream in trust administration? One attorney has some advice. Jessica Pannell, JD, of JM Law, PLLC in McLean, Virginia, has been sharing her practice’s challenges and successes in trust administration with colleagues all over the nation.

The number one struggle reported by attorneys is the lack of a work-life balance. Whether an attorney is pulling long hours out of necessity, trying to meet their firm’s billing hour requirements, or simply because they enjoy their work, overworking isn’t helpful or healthy.  On the contrary, there are numerous studies that show an increase in work hours doesn’t mean an increase in productivity or even profitability.

For many attorneys marketing is seen as a necessary evil. Popular or not, strategic marketing is crucial to the success of any business. It is a key tool in establishing your business’ identity within your community. It helps maximize revenue potential by generating new leads. Marketing also builds trust, converts leads to clients, and helps establish fruitful, lifelong relationships.