We’ve all heard the saying “it takes money to make money.” Oftentimes, it’s the truth. For example, buying stocks or properties, starting new business ventures, or launching marketing campaigns will usually require a significant upfront financial investment in order to generate a return. However, that does not mean that it’s impossible to achieve success on a tight budget. In almost any line of business, you can usually find ways to stretch your dollars and achieve growth without spending more money. In this post, we’ll provide our top ideas for ways to grow your law practice for free to help get more bang for your marketing buck.
Business leaders in every industry are talking about the customer experience these days. Optimizing the customer experience has become one of the most important steps toward building a company that can sustain the inevitable ups and downs of today’s fast-moving, competitive business world. Yet in the legal industry, it feels like not much has changed. It’s just business as usual, and very few law firms have given much thought to redesigning the client experience at all. In this post, we’ll review 5 simple steps you can take to create a better client experience at your law firm and set yourself apart from the crowd.
Anybody can start a law firm straight out of law school, but not everyone will find success. Even those who do land enough clients to get their solo practice off the ground may struggle to stay afloat long term. In order to build a sustainable law practice, you’ve got to treat it like a business. But unfortunately, law schools don’t teach many of the important business lessons required to succeed in the real world. In this post, we’ll walk through three of the most common business mistakes that lawyers make which tend to inhibit law firm growth and provide tips to help you avoid them.
There’s a lot of buzz about case management in the legal industry. It’s basically just all of the systems and processes a law firm uses to manage its clients, matters, documents, billing, etc. Most law firms are using some kind of case management software to help organize all of this information. But there is a lot more to running a successful law firm than just managing cases. One area in particular where many law firms fall short is lead management. Unlike case management, where all of the processes happen after a client has retained your firm, lead management happens pre-retention. It’s all of the processes required to track, follow up with, intake, and otherwise convert a prospect into a paying client. If you hope to grow your law firm, proper lead management is just as important case management, so it’s worth spending time focusing on it. In this post, we’ll provide our list of six lead management best practices to help lawyers land more clients and grow their firms.
If your law firm has attempted to adopt a new software program and failed, you’re not alone. Implementing new processes is never easy, since people naturally gravitate toward doing things the same, familiar way. But failing to update your processes can be risky in today’s fast moving business environment. Today’s law firms face a changing landscape and an unclear future. Adopting new technologies is becoming critical to maintain a competitive edge. But getting everyone onboard with the changes can present challenges. In this post, we’ll explain the three main reasons that many law firms fail at software implementation, along with some helpful tips to overcome these hurdles and succeed.
At many law firms, client intake is a disjointed process of back and forth calls and emails, and manual paperwork. The process can be arduous for both clients and staff. Worst of all, poor organization can expose law firms to liability when mistakes are made and result in lost business when things slip through the cracks. The better job you do at managing your intake process, the more efficiently your law firm will operate, and the more business you will close. Read on for our list of four client intake best practices to help get your law firm on track for success.
Sales is not something that most lawyers think about, even though they are probably out there selling almost every single day. There just hasn’t ever been a role for sales in the traditional legal business model. But that may be starting to change. Legal services are becoming increasingly commoditized, and law firms are waking up and realizing they need to start acting like a real business, where marketing and sales are the name of the game. In this post, we’ll explain why smart law firms are hiring salespeople, explain the role of a salesperson in the firm, and look at how focusing on sales can help you grow your practice.
Legal services are becoming increasingly automated and commoditized as technology infiltrates the industry. As a result of this shift, the legal business model is changing. We’ve blogged at length about why the hourly business model is broken and how the billable hour is dying. But due to the longstanding tradition of time-based billing and the change resistant nature of the legal industry, many law firms struggle to make the switch. In this post, we’ll lay out a simple framework that lawyers can use to determine how much to charge for flat fee legal services in order to help your firm keep up with the changing times.
Lawyers tend to be creatures of habit. They continue doing things the same way the’ve always been done, despite the huge advancements in technology happening around them. Yes, change is hard, but it also provides incredible opportunity for those who are willing to take a risk. In business, the best way to separate yourself from the competition is to break free from your old ways and be an innovator. As 2017 comes to a close, it’s a good opportunity to look back on your successes and failures of the past year, and find ways to improve your practice. Here are our top 3 New Year’s Resolutions for law firms in 2018 which will help you be more innovative and successful in years to come.
Subscriptions are a novel idea for the legal industry, with its very traditional hourly billing model. But subscriptions are slowly gaining popularity with transactional law firms, and for good reason. Unlike hourly billing, which leads to unpredictable costs for clients and creates unnecessary friction in the relationship, subscription billing provides predictability. Clients know exactly how to budget their legal expenses, and law firms have a more stable workload and a recurring revenue stream. In this post, we’ll walk through how The Food Law Firm implemented a subscription billing model, how it has impacted the firm and its clients, and how they use software to streamline processes and maximize profitability.