The Fortune 500 Guide to What Solo Practitioners Should Care About
Take a few cues from the leaders of Fortune 500 companies about where you should place your energies to grow your firm.
Solo practitioners know a lot about the practice of law, but some of them unfortunately know very little about the mechanics of running a successful business. It doesnt matter how talented you are in the courtroom, if you do not understand the ins and outs of keeping your office doors open, you will not have a thriving law firm.
The leaders of Fortune 500 companies, on the other hand, know a lot about running a successful business. Their endeavors have led them into the top rankings of companies worldwide, so why not take a few cues from them about where you should place your energies to grow your firm.
Virtually every lawyer has a website. From the cookie-cutter templates that sprouted up in the early 2000s to the sleek, strategically branded experiences that have become a big law staple. I dont have to tell you that there is no shortage of law firm websites on the internet.
What you may not know though is that the content and relevance of your site actually does matter when you are trying to attract new clients. In todays crowded marketplace, consumers rely heavily on websites and social media to help them make their purchasing decisions. A site that is outdated, disorganized, or unkept looks bad on your law firm.
Make the effort to keep your site and social media relevant with interesting content. Write a couple of blog posts each week, post a short video, and make sure your webpage content is accurate. If you cant find the time, delegate these tasks to a staff member or enlist the services of an outside professional. Remember, your online presence is often the first impression you make to potential clients, so make sure it accurately reflects your legal practice.
How can you make effective decisions about the direction of your law firm without data that accurately reflects where you are now? Reporting options are important for any business and law firms are no exception. Knowledge is essential toincreasing profitability within your law firm, and the way to get that the knowledge is through a comprehensive reporting system.
Key Performance indicators (KPIs) help you maintain a constant eye on your firms progress, so you can quickly identify areas for necessary improvement. They measure things like profitability, client satisfaction, and realization. The more data you are able to compile, the more knowledgeable you can be about the best direction for your legal practice.
Reporting is easily accomplished with alegal billing softwarethat allows you to easily run reports with a few clicks of the mouse.
Accessibility has become a major concern for Fortune 500 companies, making substantial investments into software that allows for accessibility worldwide. While the legal industry has not been as quick to take on the challenge of mobility, more attorneys are seeing the benefits.
Whether you need to work from your favorite lunchtime spot or from a hotel room halfway across the country, the right tools allow you to access the files and data you need. Cloud-based technology is leading the way in the provision of mobile work environments for lawyers. This highly available and secure technology allows attorneys to access client data, contact information, billing systems, and time-tracking records from virtually anywhere in the world.
This level of accessibility is essential in todays marketplace, and once again TimeSolv is here to provide you with tools you need. Their cloud-based software allows you to track time spent on matters from your mobile device, even if there is no internet connection immediately available. So, you never have to miss a minute of billed time no matter where you choose to work.
Cybersecurity is a constant area of concern for attorneys and firm leaders or at least it should be. The data stored in your office files is extremely valuable to you and your clients, as well as internet attackers. These hackers often target law firms, putting your practice at constant threat.
Fortune 500 leaders recognize how serious the threat is to their systems. Thats why they invest millions on cybersecurity to safeguard their data and the sensitive information of their customers. Now, millions probably arent an option for your solo practice, but there are cost-effective steps you can take to keep your law firm data secure.
One of your most valuable cybersecurity resources you have is your staff. The people who work in your practice each day can take various steps to assist with your security measures, and they can do this at no additional cost. Simple steps like regularly changing passwords, using secure networks, and following protocols to keep client files safe can significantly improve your cybersecurity efforts.
You can also take a tip from the Fortune 500 companies by using legal software from companies that maintain high-level safety strategies as well. For example,many of todays cloud-based platformsare hosted by state-of-the-art data centers, such as Amazon Web Services (AWS). Data transmission between your browser and their data center is highly encrypted and security updates are made in a state-of-the-art development environment, so there is virtually no downtime.
All Fortune 500 companies have one thing in common they have been successful at selling their services or products. You dont get to this level of achievement without developing positive customer relationships.
Regrettably, even though there are plenty of amazing lawyers out there providing excellent service, the legal industry as a whole is not commonly regarded for stellar client relationships. Its a situation where the bad apples have spoiled the reputation of the bunch. But good customer service should be the rule and not the exception. Consumers expect quality service for their hard-earned dollars, and that includes the legal industry.
If you have any question about the level of client service your firm provides, its time to take your customer service temperature. Implement a customer service survey to gauge the experience of your clients when working with your firm. Make it a routine part of closing out the case for current clients. You should even send it to former clients. These surveys can help you shape your client service goals and possibly even bring in some repeat business.
Dont forget that your law firm is also a business. Take your solo law practice to the next level with these Fortune 500 tips.
Erika Winston is a freelance writer with a passion for law. Through her business, Personal Touch Edits, she helps legal professionals deliver effective written messages. Erika is a regular contributor toTimeSolvand a variety of other publications.
Fortune 500Key Performance Indicators (KPIs)Member ContentSolo PractitionersTimeSolv
discounts, and updates from the Evolve the Law.
Stop Posting This Facebook Privacy Notice Your Pseudo-Legalese Means NOTHING!
DoNotPay Is the Latest Legal Tech Darling, But Some Are Saying Do Not Click
Lawyers And Cloud Computing: Its Not So Complicated Anymore
Competition Is For Losers: The Rise Of Atrium (Part I)
Suits: Filling C-Suite Roles Within a LegalTech Startup
AI & the Practice of Law at the Crossroads: Where Are We Going?
Florida Supreme Court Could Make Florida A LegalTech Hub
Artificial Intelligence Law is Here, Part One
Squad: How to Build Your Team for Your New Legal Tech Startup
The Worlds Most Disruptive Technology (That No One Is Talking About), Part II.
Former Content Moderator Explains How Josh Hawleys Bill Would Grant Government Control Over Online Speech
Get ATL updates on legal innovation in your inbox.