Many law firms have a lot of administrative work that needs to be done, including marketing, graphic design, recruiting, human resources, bookkeeping, and other business services. However, it is cost-prohibitive for many law firms to hire the folks you need to complete the work internally. As a result, some law firms never get to many
Law firms looking to expand into new markets must determine the best strategy. Some start from scratch, open a satellite office and attempt to grow it. Others seek to buy existing law firms and put them under their umbrella. The potential pros and cons of each strategy are below.
Does Buying Existing Law Firms Make
Many law firms market their businesses through radio advertisements. However, with the advent of Sirius XM, streaming, and podcasting, it is worth asking whether radio ads are still worth it. Not long ago, most listened to AM and FM radio. But with so many options today, it is a different ballgame.
The Cons of
Many law firm owners and managers want to grow or scale their firms. If they can increase their firm, they can pay themselves and their employees more. With more income, law firms can do other great things, like buy new equipment, obtain better benefits, and maybe even expand their law firm. It can even allow
it is essential to fill an open position at your law firm. Whether it is an attorney, paralegal, legal assistant, or administrative staff member, most law firms cannot afford to have key positions remain open when there is work to do.
When positions are not filled, essential work is likely not being done. To the
Long ago, in 2015, I wrote that it was wise to avoid copy machine contracts. The costs of copy machines have always been extraordinary. According to a recent article, industrial copiers can range from $5,000 to $25,000 and more. Believe it or not, some copy machines can cost as much as $80,000.
An effective marketing strategy is critical for most law firms. Without new clients coming into the law firm, most law firms would not survive.
New clientele is particularly important in areas of the law where repetitive business is necessary because the clients they serve do not provide long-term, repetitive business. Take areas like divorce
As a law firm manager or owner, there is so much time in the day. Where a law manager focuses their time and attention can go a long way toward the success or failure of their law firm.
With clients, employees, third-party vendors, solicitors, and others, there are time bandits all around. Everybody is going
Obtaining new clientele is essential for most law firms. New clients ensure that the lights stay on and that legal staff have the work to remain profitable and generate income for the firm.
Prospective clients can reach out in multiple ways today. With most law firms, potential clients can reach out through phone calls, emails,
Lunch meetings are common for law firm managers and owners. If you run a successful law firm with many social, business, and friend contacts, they often ask you to lunch.
Going to lunch with others is often a great thing to do. You spread your wings and meet others by lunch, often leading to referrals
