Anyone who’s spent a day working at or interacting with a legal firm knows just how hard of an industry it is to be in. Being a lawyer usually entails long nights, protracted legal battles, and dealing with unruly clients.
And think of it: that’s just when you’re a lawyer. When you own and manage the firm, then all those difficulties are taken to the next level.
If that resonates with you as a small law firm owner, then you’re in the right place. In this article, we’re going to look at how to manage a small law firm successfully.
Hire the Right People
The first thing to understanding when learning how to run a law firm is that your lawyers are an extension of your business. In the legal industry, client relationships are important above everything else. Thus, it’s absolutely vital to your business that you only hire excellent lawyers who you know will be a great representation of your brand and the core values that you hold dear.
Unfortunately, fixing a poor company culture can be a nigh-impossible task. The only real way to fix a negative corporate culture in any kind of business is to root out and fire the bad apples. But after a long tenure, it can be difficult to have these employees leave.
Specialize in an Industry
Once your law firm is up and running, it’s important you don’t seek to cater to all kinds of legal clients. Instead, you should understand that clients want expertise when they seek legal advice.
Someone who’s been in a car accident and is looking for legal representation wants a lawyer who’s been dealing with car crash settlements their whole life. They don’t want a jack-of-all-trades lawyer who may have only managed a couple of car crash suits over their entire career.
While it may seem like you’re minimizing your total addressable market by specializing, you’ll also be able to increase your prospect-to-client conversion rates, while also justifying higher fees for more specialized, experienced service.
The legal industry is all about credibility. If you work in a metropolitan area, then you know that lawyers are a dime a dozen and that there’s incredibly fierce competition.
How do you set yourself apart from the rest of the service providers in the space? The answer is simple: build credibility.
Crafting a positive reputation in the industry is a key step in running a law firm. The best way to grow a law firm is to focus on becoming the most respected legal brand in your industry, and then capitalizing on that credibility with science-backed marketing strategies.
Ways to build that positive brand include following ethical legal practices, staying in line with CDC guidelines on pandemics like COVID (read on here), applying soft-sell marketing practices, and looking after your employees.
How to Manage a Small Law Firm, Made Simple
There you have it. Armed with this guide on how to manage a small law firm, you should be far better equipped to grow your legal brand.
For more business advice on how to manage a small law firm, check out the rest of the website. Visit the Business and Law sections of the Everything Entrepreneur Blog to learn more!