SEPTEMBER / OCTOBER 2023
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Build Your Law Business — Sales isn ’ t a Dirty Word !
Becoming an attorney takes many years of education . However , that legal education only prepares one to become a qualified legal “ technician .” For those who want to start their own law firm , they need to add to their technician mindset that of a business owner . A successful law firm owner needs to become a “ coach ” rather than just a “ player ” on the team … or the “ conductor ” rather than just a “ musician ” in the orchestra .
MARKETING .
A successful law firm has the same seven parts as any other successful business . These parts include :
Your law firm needs a “ marketing funnel ,” which will move a prospective new client from awareness of your firm to eventual retention . Can you describe your ideal client prospect ? Your funnel needs to create the right message to deliver that ideal prospect with the proper expectations , while at the same time distracting those wrong prospects . Regrettably , many new law firm owners don ’ t limit the scope of their practice and instead try to be all things to all prospects . The sooner — and narrower — you can “ niche ” your practice the better . This limits the endless , fruitless referrals that waste your precious time . Today , websites often are the primary marketing tool for attorneys . Design your website to both pre-screen and pre-condition your prospects .
SALES .
Many say attorneys are professionals and not salespeople . Nothing could be further from the truth . Sales should not be viewed as a negative necessity . Sales is something you do “ for ” your clients and not “ to ” your clients . Sales is the act of helping a prospect make informed decisions as to whether they are ready to hire you . You do this by assisting them in understanding their problem in their own language . Avoid legalese , self-promotion , and explaining what you ’ re going to do . Your focus should be on them . They are visiting you because they have a problem and need your help to fix it ! It ’ s important that they like you and trust you .
FACTORY .
Your factory “ manufactures ” the legal services you offer . Like a retailer , the law firm owner decides what are his firm ’ s
By William Battle McQueen
“ SKU ’ s ” ( stock keeping units ). Once you know what you are going to offer , you then must understand the components and delivery time for each SKU so you can price your services properly . Like a manufacturer , this process determines your profit margin .
PEOPLE .
A successful law firm takes a team : receptionist , secretary , paralegal , associate attorney , supervisory attorney , rainmaker , CFO , COO , and Owner . Initially , the “ Owner ” may wear many of these hats . However , the Owner should move quickly to fill the other roles : e . g ., an Owner continuing to work as the receptionist is not the path to profitability . As an Owner , acknowledge your team in your conversations and all your marketing efforts (“ my team will be working on this ” ).
PHYSICAL PLANT .
Your physical law office should portray an image that aligns with your brand and ideal client prospect . Ensure that you have space to grow as your marketing funnel brings in new clients . Another important aspect of your physical plant includes written “ policies & procedures .” Your policies institutionalize your vision for the firm so that you as the Owner don ’ t get caught up in handling every daily decision .
FINANCIAL CONTROLS & METRICS .
A budget is your best educated guess for how much revenue you expect to bring in and what will be your expenses . You should have goals for everything and then measure your results against those goals . It is important to understand that “ metrics ” are more than just dollars . Other important metrics for your firm might include ( i ) number of matters opened / closed , ( ii ) number of days between opening and closing a matter , ( iii ) average case value , and ( iv ) money in your trust account .
YOU ( AS OWNER ).
In my opinion , mindset is the most critical part of growing a successful law business . From the very first day , think and act like the owner of a million-dollar law firm ! Read books and attend conferences on leadership , mindset , and growing / managing a business . Proactively strive to keep company with other law firm owners ( but not attorneys who