No matter what your reasoning for going into law is, you can be sure that you have chosen a lucrative profession. In 2021, the total global market size of the legal services industry is over $750 billion and that number will keep rising.
If you know all the factors to consider if you want to become a lawyer and have decided to take that big step, starting a law practice is probably one of your biggest goals and dreams. Being your own boss and running a law firm is a great achievement but also comes with a lot of responsibilities.
Here is how to do it right.
Embrace technology
Even though using technology still hasn’t become standard in most law firms, that shouldn’t stop you as there is a lot you can gain from modern tools and software.
Some tools can be used by all law practices, regardless of your specialty. For instance, since you will be meeting with clients regularly, it would be smart to invest in an online calendar that makes it easier to schedule meetings.
Of course, there are some tools you can use that will depend on the type of law you practice. For example, if you’re a firm that specializes in immigration law, you can get a lot of use from a reliable immigration software solution. Here are a few things this tool can help you with:
- Dealing with forms. Have access to a comprehensive form library, combine forms into questionnaires, and share them via email or text. And best of all, you will have multilingual support so all of your clients can receive forms in their native language.
- Case management. Handle everything from case tracking to invoicing and everything in between effortlessly thanks to a modern and streamlined case management solution.
- Collecting lads. Thanks to a built-in CRM, you can collect leads from your website, track them from visitor to client, outreach with template emails, and more.
Get rid of paper
It should be your mission to go as paperless as you can. While it’s impossible to completely get rid of it since courts still send paper notices and big firms rely on hard copies, you can still do your part in decluttering your office as much as you can.
You can easily scan everything that comes to your firm and keep electronic copies so you don’t have any reason to keep the hard copies. But an important thing to remember is that you need to have secure storage for all of these documents, and it’s best to use the cloud.
The cloud is an online storage solution that allows you to upload files and applications from multiple devices and edit them effortlessly as long as you have access. A majority of companies worldwide use the cloud and by 2023, the global cloud computing market will be worth roughly $623.3 billion.
Find your unique selling point
A unique selling point is a term used in marketing and it describes what makes a product or service better than what competitors have to offer. Everyone has a unique selling point and so does your law practice. If you want your practice to be in demand, you need to find your USP.
What sets you apart and makes you better than all of your competitor law practices? You might have an open door policy 24/7, have competitive prices, offer free consultations, have excellent customer service, or anything else your potential clients might find appealing.
When you find your unique selling point, you need to advertise it. Show potential clients why your law practice is so special and why they need to pick you over your competitors.
Save your paycheck for last
This advice is always important but it’s especially true if you’re just starting out and still haven’t grown your practice. Before you can give the money you earned to yourself, give paychecks to everyone who is on your payroll, from fellow attorneys to cleaning ladies.
Even though this means you will have to wait a while before you can enjoy the fruits of your labor, success will be much closer in the long run. Paying everybody fairly and on time as well as putting your employees’ needs ahead of your own shows good leadership and great business ethics.
Final thoughts
Even though running your own law practice can be challenging, it’s also very rewarding. You get to help people in legal battles on your own terms without answering to anybody and show off your amazing law knowledge. Even though it’s a lot of work, most lawyers agree that it’s worth it.
There’s always room for improvement, and the tips you just read about are a good place to start.
