The business of law: 10 tips for the new year

As we start into a new year, remember that you are not just practising law – you’re also running a business. Justin Purcell offers some simple tips to keep clients and staff happy, and also boost your practice’s profitability and value.

In our effort to keep up with and use available technologies, position ourselves among many competitors for new work, stay abreast of changes in law, and provide current clients with due care and advice, we’re at risk of forgetting the very basics. Whether you’re a solicitor, partner, or hold some other leadership position within the firm, it’s good to review business essentials at the start of a new year.

  1. Run your practice like a business: You are a service-provider. Clients should always get great service from anyone who answers the phone, emails an opinion, or duplicates documents. Every member of your practice should be trained to service the client. It is imperative that the firm’s leaders and partners embody this attitude as an example to all. Organise everything in a businesslike manner.
  2. Treat everyone like a prospective client: Anyone who is connected to the firm in any way will form an opinion of you – which they will share when asked. This includes opposing counsel, the photocopy repairperson, the caterer, candidates interviewing for a position, and anyone you hand a business card to. Treat everyone as if they are about to refer you new work.
  3. Delegate and empower your team: Every member of your firm can make an important contribution to the firm and its clients. Ensure that each person understands their role and has the authority to fulfil that responsibility, plus a little bit more.
  4. Manage your staff and clients: Keep your staff motivated by recognising loyalty and good work. Keep staff informed and ask them their opinion. Your relationships with everyone inside and outside your firm matter. Keep them strong by returning emails, phone calls, and other enquiries promptly. Contact your main clients regularly to touch base and show appreciation for them giving you work.
  5. Manage your time: Manage your image and always arrive at meetings on time. It demonstrates that you are organised and that the people you are meeting matter to you. Being late could damage your reputation.
  6. Think profitability: Always have the bottom line in mind for your individual practice and the whole firm. What does your practice cost? What are you bringing in? Ensure you invoice clients monthly, or immediately following completion of a matter. Clients are happier paying your bill while your services are fresh in their minds.
  7. Develop business relationships with other professionals: Consider who your clients or referral sources would benefit from meeting. Look across to other professional practice areas, scan your network list, or speak to other professional leaders for opportunities to make connections for your clients or referral sources. Arrange a lunch or a meeting and facilitate a discussion about how each party can help the other.
  8. Call clients back and try to make client contacts in person: Call four clients you haven’t worked with for the past year. Spend a few minutes researching their company news on the internet first, to ensure you’ve picked up any relevant highlights or lowlights.
  9. Listen up: The all-time challenge for some solicitors is simply to stop talking and start listening. Really listen to your client for instructions. Try to practice ‘active listening’, where you’re absorbing the information being shared with you. 
  10. Take a shot: Finally, remember: ‘You miss 100% of the shots you never take’. Get in touch with your best clients and ask them for an update on their business. If you don’t ask for the work or how you can help them reach their goals, you’re missing easy opportunities to attract work or keep clients close.

 

Justin Purcell is the Law Society’s practice support executive.