Tips for starting your own law firm

Starting your law firm is an exciting experience that almost every lawyer dreams of after graduating from law school. However, setting up a law firm needs a lot of research and professional guidance from attorneys who have successfully done the same. With proper guidance in place one should be able to achieve this feat with ease.

Like any other business organization, a law firm also needs goals and targets that one should be able to come up with before getting started on anything. You must first of all come up with a business plan that will act as a guiding tool in achieving your goals and targets. You should be able to come up with a business model, a budget that includes your sources of money and other expenditures in a well drafted budget.

Getting to know your market and competitors is also an important step when preparing to start up your law firm as it helps you set realistic goals and targets.

Define Your Firm

Choosing a specific area of practice is a vital part of setting up a successful firm because it helps you be a quasi-expert in a given legal field. The good thing about majoring in one field is that you will learn faster and become good at it in the process. This will boost your reputation and make your pricing in the market competitive.

Specifying in a certain legal area also gives you recognition and customers will be able to allocate your firm with ease.

Office Basics

Getting a workspace or an office is an added advantage because you will be able to set up meetings and do all your work from there. This can be done entirely on your own or you can opt to start by getting space from an established firm. Sharing the same building with an established attorney is not the best of ideas but also comes with certain benefits such as sharing a secretary or receptionist and other resources that you can’t afford on afford.

After confirming that a workspace is secured, you need to set up an IOLA account that will handle money that comes in from clients. Malpractice insurance and a retainer agreement are some of the things that successful attorneys use to keep their practices safe therefore you should definitely consider getting them.

Market Yourself

Marketing yourself is a good way of getting clients but you also have to put certain aspects into consideration in order to get the right marketing tool. As a new firm, you are highly advised to go for marketing tools that will give you a good audience or feedback at a lower fee. A good example is through one-on-one networking with individuals who will act as a referral source to your firm. This may even include meeting with well established attorneys who practice in different legal field from yours. Clearly they are not your competitors and will not hesitate to refer clients to you if you create a rapport with them.

Branding and creating a website for your firm should make part of your marketing strategy. A good signature and business cards are also positive marketing strategies that you must have to stand a chance of succeeding in a competitive market.

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Most effective law firm marketing techniques

A good number of lawyers end up struggling in terms of getting potential clients even after successfully setting up their law firm. The main reason this happens is because they go for poor and ineffective marketing tools or strategies. Getting enough clients is what contributes to the success of a law firm therefore proper marketing techniques also have to be given a priority when setting up a law firm.

Effective Marketing Techniques

An effective marketing should not take less than 2.5% of a firm’s gross revenue. In a competitive market that has got many law firms offering the same services, lawyers are advised to use 2.5% of their firm’s revenue to market themselves. Any firm that uses less than the stated amount is not aggressive enough and is therefore likely to experience difficulties in getting potential clients.

Setting up a website is not enough to land potential clients in today’s competitive market therefore requiring more aggressive measures like putting up videos online. As a presidential debate sponsor and ranked the fourth most popular website on the internet, You Tube is a good option for firms to be able to get more audience.

Firms should stick to marketing tools that are measurable. As much as firms are advised to use a reasonable amount of money on marketing, they should stick to those marketing tools that will prove that people have actually received their messages. Marketing tools such as You Tube has a number of views per video while a blog has a number of comments on each blog that has been posted. Sticking to these types of marketing techniques lets a firm know whether the effort they put into marketing is paying off.

Getting new clients is basically what most marketing tools target but in order to balance the equation, firms are advised to prioritize their existing clients. A proper marketing tool is supposed to target the present clients before reaching out to new and potential clients. Giving the present clients a priority will in turn keep them happy and the checks coming.

Cultivating referral sources is one of things that all firms ought to do in order to become successful. Creating a rapport with well established firms that practice in other legal fields is a brilliant idea because they will be able to refer their clients in case they have cases that you handle.

Joining a trade association is another option that a lawyer has that helps in effectively marketing his or her law firm. In doing so, the lawyer gets the chance to address a room full of potential clients and in the end get more clients.

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What to know before joining an established law firm

Joining an established firm comes with a lot of excitement as well as expectations. To a lawyer who has graduated from law school, there is no better price than joining a well established law firm. Getting a job in an established law firm offers fast growth and a good recommendation to those who dream of setting their own law firm later on. As expected, the pressure that comes with joining the law firm is immense but with proper guidance one should be able to get through the transformation with a lot of ease.

Things to Know Joining an Established Firm

A problem that a good number of lawyers experience is the ability to settle in the new firm. Comparing your old firm and the one you just joined is rude to your colleagues and will definitely ruin your chances of settling in the new firm. You are therefore expected to be professional and stop talking about your old job at the new firm.

Having a positive start is the best way of settling at an established law firm because you will be able to create a rapport with your new employees. It is believed that the first three months determines your working pattern at that particular firm, therefore you have o be at your best to ensure that you start your job on a high note.

The one obvious but crucial part of any orientation process is being able o fit in with ease. You need to underline the fact that it is you, not any of your new colleagues that should be fitting in. Carefully study routines and working conditions in your new firm before offering any suggestions.

However excited your colleagues might seem to be upon your arrival, an established firm is competitive and a good number of them might not be pleased to have you on their team. This should not slow you down but improve the aggressiveness in your job. Any confrontation by your new colleague should also not be taken personal as this might just be a way of getting to a reaction from you. During this time that you seem to have a few friends at the work place, you are advised to concentrate on creating your internal network. Take your time to learn individual agendas of each of your team member in order to secure your career progression.

The first step that you should take to keep your career moving is finding out what is expected of you in the established law firm. Get a person that you trust to act as your mentor as this will help you settle in your new firm and in your general career growth.

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