For any business to be successful, it is vital to fulfilling a complete set of requirements ranging from strong leadership to determined employees to effective operating policies and procedures. All these factors are also relevant to the legal sector. So if you are running a law firm and planning to take it toward a higher success in the coming years, you can do a lot by taking help from this piece of writing.
To run a successful law firm, you need to pay a little more focus on business planning, digital adoption, community networking, service quality assurance, client satisfaction, and as a matter of fact – employee retention. All these and other important aspects will need more of your attention if you want to see your law firm succeed. Getting further, let’s now discuss some of the core pillars of a successful law firm in brief, helping you establish them for your firm effectively.
- 1 How to Position Your Law Firm to Obtain Success?
- 1.1 Prepare a Clear & Smart Business Strategy
- 1.2 Standardize Operating Model
- 1.3 Adopt a Hybrid Sourcing Model
- 1.4 Showcase Your Key Differentiators
- 1.5 Embrace Technology to Improve Functionality
- 1.6 Provide High-Quality Client Services on Time
- 1.7 Remain Client-focused
- 1.8 Take Appropriate Actions Upon Client Feedback
How to Position Your Law Firm to Obtain Success?
Prepare a Clear & Smart Business Strategy
This is one of the most important aspects of any law business; you must have a strategy in place to further prepare your operating procedures. Half of your work is done if you clearly define two key points – service areas and target market. Once you finalize these, fewer distractions will steal your focus away from the main objectives. After that, you can plan things further in a more categorized and detailed manner.
Besides that, also ensure that the strategy you prepare must include and clearly define the strategic goals, making it easier for the staff to understand the same and come on the same page.
Standardize Operating Model
Setting up operating models will require you to deepen your understanding of common procedures and organize them well. This means standardizing your processes and all common non-core functions. If your operations are unorganized and not reliable enough, this will leave a negative impression on prospects and increase the chances of not closing a deal with your firm.
Therefore, you need to create an outline of a standardized operating model that includes clear guidelines for your staff about how to deal with clients during the quotation phase and what process they should follow to onboard the client and process the case further. It should be done to keep your in-house processes organized, keep employees aware of their core roles and responsibilities, and help clients save time.
Adopt a Hybrid Sourcing Model
In the last few years, especially amid the recent pandemic, many businesses adopted new sourcing and innovative working models, and law firms did not lag. Many law firms embraced the remote working models and legal outsourcing services to fulfill their human resource requirements. Apart from that, many of them adopted hybrid sourcing models, which can also be advantageous for your firm.
Under such a model, you can keep a limited number of employees and utilize exceptionally skilled and talented legal experts by joining hands with a legal outsourcing firm. This not only enhances your firm’s overall capacity and efficiency but also helps you reduce costs.
Showcase Your Key Differentiators
Once you create a robust business strategy, standardize operations and processes, and embrace hybrid sourcing models, it is time to set your law firm apart from its competitors. First, you need to determine your firm’s USPs (Unique Selling Propositions). Listing your USPs will help you strongly differentiate your firm in the market. Your USPs can be anything from affordable services to flexible pricing plans to round-the-clock support.
You may need your staff’s assistance and someone who is a marketing expert. With their help, you would be able to jot down your firm’s values and plan how you can showcase them to your target audience to attract more clients.
Embrace Technology to Improve Functionality
“Gartner predicts legal technology spending will increase to approximately 12% of in-house budgets by 2025, a threefold increase from 2020 levels.” – Gartner
It is also seen that law firms that invest in legal technology are more likely to be successful due to various contributing factors. Latest IT systems and software tools are providing significant advantages in the current times of this fast-paced digital-run world. For example, a law practice management software can help your law firm ensure smooth workflow, streamlined functionality, meeting compliance requirements, effective client relationships, etc. Legal technologies’ core advantage is to help your staff enhance their efficiency and productivity by automating some tedious and repetitive legal back-office operations, leading to success and growth.
However, if you are burdened with a caseload and your budget does not allow you to invest in technology, you may consider paralegal outsourcing services. This can help you manage workloads effectively all while saving costs and ensuring the legal work is well managed by trained paralegals.
Provide High-Quality Client Services on Time
Client expectations are fast changing and growing with growing awareness. Today, any prospect can go online and read about what makes a law firm reliable. Now that they know what to expect from a reliable law firm, are you prepared to meet their expectations and prove their reliance on your firm?
If you said no, it is time to prepare for that. Client satisfaction usually revolves around communication, service quality, and the timeliness of service delivery. Therefore, make sure your staff effectively communicates with the clients and responds to them if they miss their calls, messages, or emails. Besides that, keep your promise about service quality and turnaround times as these things matter the most for a client in the legal industry as most cases are time-sensitive, even if not for you or the court, but it is always for the client.
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Your law firm runs on the money you earn by helping your clients in their legal matters. Considering that, it is very important to make them feel valued by putting them at the front and center of your law firm. You must put your clients first.
This can start with establishing some rules that define how your attorneys deal with potential clients. For example, are they being empathetic while discussing the case in the initial meeting or are they just providing legal advice using the book of law? Yes, this makes a huge difference.
From initial client communication to onboarding to case settlement, your law firm’s focus should be on clients so that you can deliver an excellent 360-degree experience for the clients. That’s what makes them refer you to their peers and give positive reviews and ratings.
Take Appropriate Actions Upon Client Feedback
Progress is the key to success, and what’s better than having honest feedback directly from clients regarding the required improvements. Firms that take client feedback seriously are reputed in the industry. So prepare yourself to accept both positive as well as negative feedback.
Your clients might also come to you with a complaint; all you need to do is acknowledge that and take appropriate actions. That is how you can ensure their trust in you remains intact. This will also ensure you are meeting client expectations and demands as they change or grow.
Remember positioning your law firm to succeed will not be easy. In the current times, when the competition is growing, and newcomers are disrupting the legal sector, obtaining success has become even more challenging. However, follow and implement the strategies shared above. You will be able to improve your law firm’s overall functioning, leading to an increase in its bottom line and growing chances for growth and success.
Author Bio:Cline Carol is Senior Paralegal at Cogneesol, a company offering legal outsourcing services to law firms worldwide. She is passionate about writing on outsourcing, law office management, technology, and entrepreneurship. Her passion for writing persuades her to contribute toward inculcating knowledge amongst the avid readers from the legal fraternity.