Being a small law firm operating on a tight budget can be challenging. But it’s also one of the best things about being in such an environment. Because as a small practice, you are forced to get creative to ensure your business stays afloat. And because of that, you grow as an organization so quickly that other lawyers don’t have time to catch up. Time is your biggest enemy, though. It’s often why other law firms have so much more space than yours and everything running smoothly for them.
Be Aware of Your Current Status
Before you try to grow your small firm, you must clearly understand where it currently stands. That way, you’ll know if the path you’re taking is the one that leads to growth or just a way to make the same mistakes you’ve made before.
First, get an overview of your revenue and expenses. You can do this with online accounting software, or if you are more comfortable with numbers, you can create a spreadsheet.
Another great idea is to work with professionals to create a realistic business plan. The legal and management pros at howtomanageasmalllawfirm.com can help you understand where you are, where you want to go, and what to do to get there. They can also help you outsource management services and learn more about tips to have your small law firm grow in a short time. Once you secure these numbers and experts on your side, you can begin planning for the future.
Build Your Brand
This means doing everything you can to make your law firm’s name famous in the market. And that includes building a brand for your office. Start by painting the walls in our office with pictures of your best deals. Then in each room, hang a sign that explains what your practice does. The more people are aware of your firm, the better. That way, they’ll know you’re the people they want to work with.
Of course, implementing a virtual office is a strike of genius for law firms who want an edge over their competitors. Moreover, branding means a strong online presence, trust signals, engaging social media endeavors, solid word of mouth/referral network strategy, and mindful advertising that complies with the marketing rules of law firms and attorneys.
Invest in New Technology
Technology is constantly changing and evolving. So it can be challenging to cope with its advances. That’s why it’s crucial to invest in new technology. New technology will help you do your job more efficiently. And it will also help you respond to your client’s needs. New technology can be as simple as ordering a laptop to make your office more efficient. It can also include the introduction of chatbots, billing software, client management platforms, or hiring virtual assistants to help you manage your caseload and deal with paperwork. The important thing is finding a technology that works for your business and enables you to grow.
Hire People with Skills Even Better than Your Own
Before looking for new employees, think about how you can make yourself more valuable. This means adding more skills to your practice and hiring people with skills that are even better than your own. For example, you might be great at handling bankruptcy cases. But your goal is to hire more people specializing in bankruptcy, as they’ll be able to handle more cases and build your firm’s reputation on their wins.
Similarly, expand your practice areas with legal experts with outstanding reputations and results. For example, your law firm might have a solid background in personal injury, but how strong are you in class-action lawsuits or anti-trust cases? Bring pros to your table to cover more and more legal areas, attract new clients, and drive a successful business.
Lawyers often talk about the importance of metrics and money. But it would be best to consider how to price your services effectively. First, you should update your billing software to make it easy for your clients to pay their bills. Of course, this implies that you must ensure that you allow them to pay you securely online. Then, when it comes time to billing your clients, you need to find as much information as possible. It means keeping track of all of your consultations and all of the work you’ve done. Amazing technology is available for this part of the job, so use it confidently.
Go Above and Beyond for Your Clients
The best way to grow your small law firm is to ensure that the clients you already have know you are doing a great job for them and will recommend your firm to their families and friends. Tending to your clients and showing them you care as a law firm can mean as little as answering an email when the client contacts you.
However, if you want to offer clients the best treatment possible, ensure that you provide people with multiple forms of communication, transparent and easy billing processes, a well-made website rich in information and resources, free initial consultations if necessary, and a clear process regarding expenses, settlements, and contingency fees.
Ensure your staff is friendly and helpful. When someone has a legal problem to solve, the last thing they need is a cold, unprofessional, distant, or hard-to-reach law firm to deal with the issue in question. After all, customer service and authentic customer engagement are the engines running any good business.
In conclusion, if you want to grow as a small law firm, you need to take the time to understand what it takes. And this means getting a clear picture of where you currently stand and knowing what your clients want from you.