Law practitioners soon realize that their law practice is really a law business.
It is not just winning cases, defending clients, writing briefs or contracts. Much of your time will be handling administration, client management, marketing and many other things that you were never taught in law school.
Run your business so it won’t run you ragged. Follow these 5 ways to stay on top of your law business:
Delight Your Clients
Clients are wonderful but they can also be difficult, demanding and downright ornery. Do not take clients for granted! You’ve heard that quote: It takes months to find a customer and seconds to lose one? Keep your clients happy by communicating with them and doing good work. Survey them for feedback to improve your services. For more tips on client satisfaction read our post How to Get Your Legal Clients to Love You.
Keep on Top of Billing
While it is hard to stay on top of the accounting and billing, you need to get paid! Keep your invoices current and frequent so your clients see the work you have done and you will get payment faster. Send monthly statements, if possible. If you find it difficult keeping on top of time charges and invoicing, consider flat fee pricing for some of your services. Having trouble getting paid? Read our post Solo Practitioner 101: How to Get Paid.
Know Your Numbers
You went to law school, not business school, right? However you must have a business mindset when approaching your practice. Determine your monthly costs. Know how much you need to make to be profitable. Look for ways to cut overhead expenses. Use the skills that you learned in law school to negotiate better pricing for services. Most lawyers’ business plans consist of getting clients, servicing clients, and billing clients. Put together a more comprehensive plan that evaluates your market and determines the cost of client acquisition. Knowing your numbers will help you make better business decisions. Need a business plan? Read our post A Lawyer’s Business Plan.
Organize Your Office
Are you handling your tasks orderly and efficiently? Organize your office or work area for maximum efficiency and optimal workflow. Implement procedures or software to help speed up repetitive tasks. Once you get your office in order, you will be able to run your practice better. Looking for tips on how to organize your office? Read our post 5 Easy Steps to Organize Your Office Now.
What did you do to get your clients? Even if you have a steady stream of law business, you must keep doing what brought you clients in the first place. Continue to make contacts with referral sources. Keep advertising and marketing your services. Because you never know when you may hit a dry spell. Need help with networking? Read our post Tips for Lawyer Networking.
Any other tips to share? Leave your advice below in the comments section.
Want more inspiration, tips and advice for your awesome law practice? Check out Law Office on a Laptop, Second Edition: How to Set Up Your Own Successful Law Mobile Law Practice.