As a legal professional, you’re an expert at navigating the law. However, your legal education might not have prepared you to successfully navigate another critical, but often overlooked, aspect of the profession: how to manage the business of law.

You’re a lawyer, above all else, yet it’s important to remember that the practice of law is also a business. In order to achieve the highest levels of success for yourself and your clients, you need to negotiate the financials of lawyering, in addition to the practice of law itself.

This article explores three aspects of successful law firms to provide you with practical business tips that you likely did not learn in law school:

• Managing your law firm as a business
• Attracting and retaining a rockstar team
• Delivering extraordinary client service

1. Dedicate time to building the firm as a business

Many lawyers view the word sales as anathema. Attorneys must re-frame their perception of the business development process to move past their aversion to the concept of drumming up business to maintain and enhance the financial security of their firms.

To attract more clients and matters, you need to identify first who the ideal client may be and where they go, because that’s where you should be. To do this, you can demonstrate expertise in public forums like speaking engagements, substantive business and legal conferences and meetings, and other public and professional events. You can also strategically cultivate business relationships with qualified targeted audiences of prospective clients, and purposefully get and stay connected with your growing network to be remembered and stay top of mind for potential clients.

But it is not enough to simply generate awareness for your firm’s services; it is also crucial to build awareness in a way that leaves your clients feeling satisfied and respected at the end of each interaction. Prosperous lawyers achieve this by ensuring there is a constant alignment between the legal services they offer, what their outward communications relate about them and their firm, and what they and their staff state when they are offering their firm’s services.

This alignment and consistency of messaging builds a powerful reputation, which will eventually generate repeat business and a stronger P&L.

Tips for action:
• With the support of a business growth strategist, develop a vision and firm strategic plan and solicit buy in from your professional team
• Train and coach your team to be aware of any concerns of unsatisfied clients
• With the support of an experienced legal business growth expert, implement a SMART (specific, measurable, attainable, timely and realistic) plan with reasonable results-based metrics

2. Retain/hire a rockstar professional team and treat them well

Your team members are both the greatest asset and the greatest expense in most law firms. When your team members are satisfied, respected, and properly equipped to do their jobs, your firm will produce more value for its clients. In fact, satisfied employees achieve more for their companies, according to research from the London School of Economics. This rule applies to law firms both big and small.

To ensure your firm’s employees remain satisfied and productive, it’s important to provide appropriate and regular training, up-to-date equipment, and other forms of support. Attorneys at smaller law firms find using legal technology helps their employees succeed. Indeed, 84% of law firm employees in a recent Statista report said that legal technology had improved their firm’s productivity. Proper technology, a welcoming environment, and periodic training can help your firm accomplish more with less.

Tips for action:
• Organize regular training for your team, including your lawyers
• Create a familial culture to increase employee retention
• Provide the best tools and technology for your employees to perform their jobs

3. Become an expert in client service

Strong client service skills are one of the most important keys to success for smaller law firms.

Effective client service begins with thoughtful and frequent communication: from the moment the client walks through the door until the matter (no matter how big or small) is concluded. Successful attorneys keep clients fully and frequently informed about the progress of the matter. They consistently demonstrate how the firm values the client, which helps build the firm’s reputation to generate new business. Referrals from satisfied existing clients are a primary source of new clients for many firms, underscoring the value of prompt, responsive client service.

Successful law firms know that the success of the client is integral to the success of their firm. These firms and their employees devise new methodologies to better serve their clients, including self-service portals. Here, clients can book appointments, remit payments and make deposits, view their matters, and more. Great client service requires cordiality and genuine care but also requires proper tools and equipment to meet clients’ needs and expectations.

Tips for action:
• Create a workplace culture that values positive client service
• Reward employees who go above and beyond for the firm’s clients
• Keep in frequent contact with clients regarding matter updates

Smart Business Practices Benefit Everyone

When you implement smart business practices at your firm, you’re performing your due diligence to secure its financial success, and, in turn, the livelihood of everyone you employ. Moreover, attorneys should understand how financially healthy firms provide a higher standard of service, which benefits their clients and the community at large.

For more practical tips for a success law firm, please download the whitepaper, 11 Habits of Successful Law Firms.

Bio of author

Julie Perez, JD

Julie Perez, Esq., is a lawyer who currently serves as a Senior Business Development Manager for LEAP Legal Software, provider of the only legal practice productivity solution. She can be reached at 844-702-5327 and [email protected].