How To Build a Successful Law Firm

If you’re an attorney with an entrepreneurial spirit, perhaps it’s time to actualize your vision of developing a law firm revolving around your goals. But the truth is, starting a new business can be overwhelming. Running and growing a law firm can be a challenge even for many qualified attorneys, especially in today’s competitive environment. You need firm discipline, consistent effort, and time to build a successful law firm.

The good thing is, with client-focused services and dedication, you can achieve your goals and stand out. Here are some ways you can build a successful law firm.

Effective Planning and Strategy

Planning is the foundation of every business. You should draw up an extensive business plan that directs you on where you eventually want to go as a business. You need to include the costs of starting a law firm and potential profits. This type of business requires a lot of investment, and you need to know how much you can finance each aspect of the firm without losing your capital. 

It may take some time for your law firm to be in a solid financial position. Planning also includes a marketing strategy. Attorney Craig Orent notes that you need a specific marketing plan to reach a larger audience and get the right clients for your law practice to thrive.

Build a Team You Trust

When making plans for a successful firm, you need to consider how you will build a solid team and manage it well. Ensure that the people you hire fit with your firm’s goals, mission statement, roles, and values in your organizational chart. 

A law firm is only as good as its team, so hire qualified experts and administrators and treat them well. Make your employees your family as they are essential to driving your firm to success.

Acquiring Clients

Clients will be the driving force of your law firm’s success and without them, you can’t go anywhere. Clients are continually changing the way they find attorneys, so you need to adapt as well. Most clients refer lawyers they work with to their friends, which will always be a great source of new clients. 

Also, consider joining local associations and interacting with other legal experts to create a strong referral and professional network. Also, advertise your law firm online and offline to reach potential clients wherever they are searching. 

Build Relationships With Your Clients

When starting a law firm, you should focus on developing a strong relationship with your clients so that you are the first person they think of when they come across a legal problem. Strive to become a client’s go-to expert for matters both small and large. 

Create a client-focused culture and have your client’s best interests in mind. Keep in touch with them over time, and train your employees on effective ways to interact with them. You can also provide them with free legal resources and initial consultations. Don’t forget to ask them for feedback to tweak your offerings over time.

Take Advantage of Technology

A firm that does not keep up with technology is quickly going to lose clients to the competition. You need technology to improve your workflow and administrative operations. Developing competence in technology is vital to success. 

Consider having a law practice management software with a client portal that makes it easier to manage clients, handle billing and payments, and even share documents. A website and social media presence are also a must-have to build instant credibility with clients who are online.

Find a Mentor

Finding a mentor is an important idea to consider when you are starting out. A mentor will provide you with the help and guidance you need as you build a law practice. He or she has been in your shoes before and will help you avoid the mistakes that they made. Find a mentor who has been practicing in your area of legal expertise and has a history of successful verdicts and settlements. 

Start Planning Now

Law school may not have trained you to be an entrepreneur, but you can adapt and learn to start and run a successful law firm with the steps discussed here. Take your time to plan and identify the best marketing opportunities to reach your target clients, and then get to work.

Dragan Sutevski

Posted by Dragan Sutevski

Dragan Sutevski is a founder and CEO of Sutevski Consulting, creating business excellence through innovative thinking. Get more from Dragan on Twitter. Contact Dragan