If you're struggling to generate business for your law firm, attending a marketing boot camp can be an immeasurably valuable experience. However, these boot camps can cost anywhere from a few hundred to several thousand dollars, not including travel and accommodations. At first glance this may seem like too much money, but here are two reasons why investing in this type of training is not as expensive as you think.
The Training Pays for Itself
Many times people think something is too expensive because they're coming at the issue from the perspective of the immediate impact it will have on their wallets. When cash is tight, paying $2,000 for training can seem like a monumental amount, for instance. When you consider the amount of new business you may drum up using the skills you learn at the boot camp, though, your investment may dwindle to nothing in comparison.
For example, say you make an average of $1,000 per client in legal fees. The boot camp training essentially pays for itself if you net just two new clients as a result of what you learned. Since it's more likely you'll onboard more clients than that over the life of your practice, a $2,000 class fee is just a drop in the bucket.
Taking a long-term view when considering the cost of marketing training can put things into proper perspective and help you make the best choice for your business.
You Can Write It Off as a Business Expense
Another reason why marketing boot camp isn't as expensive as you think is because you can generally write the cost off your taxes as a business expense. Granted, you'll have to pay the fee now and wait until you file your taxes to get reimbursed for this expense, but at the end of the day, you won't actually be out as much money.
Be aware, though, the IRS is pretty strict when it comes to writing stuff off your taxes. Only things related to your business will qualify for the deduction, so you cannot write off any cost associated with anything you do for your personal benefit. For instance, if you stay an extra day at the hotel so you can take in the local sights, you cannot write off that extra day from your taxes. Be sure to consult with your accountant about this tax write off to avoid unintentionally landing in trouble.
For more information about the cost of marketing boot camp training or to sign up for a seminar, contact a local marketing company, such as The Rainmaker Institute.Share
10 April 2017
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