Everyone is born with numerous hidden talents and intelligence. Though it takes some time to discover the hidden talent thoroughly, and most likely, during that period – one must wander into depression and anxiety just like Jennifer Gore.
Before starting the law firm, she was no less than many of us, but now this lady is leading a successful firm in which a number of attorneys are working under her leadership. And now her law firm is counted among the Inc 5,000 list as one of the fastest growing companies in the United States.
But do you know? Jennifer has no inheritance or line of credit to build this successful firm; she established that mighty organization entirely from scratch. Isn’t it highly commendable? During the session invited by Darryl Isaacs, Jennifer poured out numerous ideas which helped her founding the law firm.
She also highly emphasized why women should own companies and why very few ladies are running their businesses compared to men. Let’s look at the factors Jennifer described to build a successful law firm for men and women!
Hire An Assistant
You’ll be astonished to know that 37% of the total population of women attorneys, but only 29% of them own a business. As per the data, only 2% of women are crossing the seven-figure monthly earning. Isn’t it upsetting to see such stats?
And can you analyze what’s the data saying? It’s entirely representing how our women are struggling to get hired. They’re not hiring quickly and efficiently, a problem affecting many businesses to a greater extent.
It’s acknowledged that being a woman isn’t easy because you can’t look after your business only; a complete household also depends on you. But owning a business doesn’t mean you have to burn yourself out doing work all day. Numerous multi-million dollar companies employ hundreds of people to delegate their tasks.
You can also do the same by hiring people better than you. The same goes for men – if you own any firm, then don’t do all the things yourself, create job opportunities by hiring assistants as much as possible.
If your firm is still making under a 6-figure income, then you should analyze your time with the one with ten times better results than you. If you don’t have an assistant, you will get trapped doing things that are low-value use of your time. Despite burdening your brain with the workload, you can just text your assistant with the instructions and cash this time with some high-value tasks.
Don’t always look at what millionaires are doing; instead, look at what they’re not doing. And certainly! They are not doing laundry, cooking, etc., and handling small business tasks because they have an assistant.
If you want to be better at business, you have to do the same. Look at your time and look at what your true priorities are. Hire an executive assistant as soon as possible to leverage your time which will help you build a successful law firm more quickly and efficiently.
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2. Automate Your Hiring
When you finally begin to hire people, It eventually becomes a hurdle for you whom to recruit. Especially for law firms, choosing the brave and best lawyer is quite tricky since you get hundreds of CVs with just one application. Well! This problem is not only with you – hundreds of business daily suffer with this as everyone wants to hire the best. It’s a competitive advantage; if you can hire better, you will outpace your competitors quickly.
However, you don’t have to worry anymore because automating is here to help you with your task. Just like mechanizing other business tasks, you can automate your hiring procedure too. It will help you hire better people more swiftly and efficiently without messing up the entire system.
Various software is available to be your partner in this chore, just like WizeHire. In this software, you will be funneling prospects via a process. Whether you are up for hiring a receptionist or coach, you just have to put the instructions, and this streamlined network will narrow down the list of best candidates for the job role. It will tell you about the candidate, about their motivators, about the qualities of their personality, and why they would be good at that role.
It will cost you a few hundred dollars, but as per Jennifer Gore, it is worth spending a few bucks on it since this software runs the ad on Indeed, ZipRecruiter, etc, and get you the best expert for your desired role. Hence, prioritize your time and buy such software to automate your hiring procedure, which directly affects building a successful law firm.
3. Track Your Client Acquisition
When you begin with the law firm, it’s not always hiring new people or automating the entire process, but you will also have to look for new prospects. And if your law firm is thriving, the chances for more and more potential clients will undoubtedly be infinite. But if you don’t take notes or record data of how many clients you’re singing to monthly, weekly, or annually, all your hard work behind these successful leads will drain drastically.
Jennifer further said in the session, “I talk to a lot of lawyers, women, and men, and I say, how many clients have you signed up this month? And they’re like, I could go find that, or some of them are like, I get a report at the end of the year.” She emphasized that this is completely insane and amateur behavior if you’re an intellectual lawyer or any business owner. Data does Matter,asyou can’t compete with your competitors until you don’t take the numbers seriously.
Your client acquisition record is a must-have and a true game-changer. For instance, if you have a number-statistics of acquisition, you can take a quick look anytime. And whenever you see the graph going down and down, you can apply immediate strategies to maintain it again. It will also help you see if your ads are broken and are not bringing leads so that you can fix it in real time before the campaign gets destroyed. It’s the simplest and easiest way to get more hands-on prospects efficiently.
Furthermore, there are many ways available to track this data. You can take help with some software, websites, or, most simply, the go-to excel sheets for quick tracking. And if you’re just starting with your law firm, you can even take notes on a paper book, this will be a lot easier for you to track your clients efficiently.
But remember, don’t go too deeply with any tool or software. Just get your hands in the system that can simply tell you your current acquisition status, patterns you’re following, leads from your ad campaigns, where your clients are coming from, what’s the lead source, or which type of cases you’re signing mostly. This is all you need from your client acquisition system, which will surely strengthen your business to a greater extent.
4. Building A Customer List
The next factor in building a successful law firm is building a customer list, and without this, you can’t grow for a more extended period in the business industry. She said, “ We as lawyers are prohibited from reaching out to new leads in many markets, but nobody can prevent you from reaching out to past clients. What are you doing to consistently remain in front of the people you’ve previously represented?”. Her this stance is altogether hinting towards turning your prior client into a new one with whatever strategies you can apply, from newsletters to running ads.
Take notes of your customers thoroughly, make a specified excel list regarding them, and, more precisely, record the acquisition in detail with in-depth research. Since your list is your greatest asset, it can protect you from many things. If you take the initiative to build it from the beginning, or if you have to start now, it’s better now than never. This is a simple idea that you can immediately deploy for more future prospects.
Start with newsletters; this is the quickest way to stay in your client’s brain. You can use MailChimp (Email Marketing Software), but don’t create boring newsletters. Because lawyers are likely to have a stubborn nature so your boring email will not work out. Your potential clients want to see what’s going on with your firm, how you’re dealing with a particular case, what strategies you’re fond of, and, most importantly, practical case studies of a different issue.
Remember your audience. Don’t speak about yourself always; let your audience know what you’re doing for their good.
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5. Spend Time With Wise People
You can’t develop an entrepreneurial mindset if your gathering isn’t of business owners. For the strategic way of thinking, you have to sit with strategic people, those who know how to implement techniques and make them successful. Such people mold how you think; they will dominate your attention in a way you could never think of before.
If you keep surrounded by the people holding you back, the chances of thriving in the law business will get less with time. You will likely live in self-doubt about whether you’re capable or not.
In addition, you can’t organize intellectual people gatherings anytime, anywhere, but you have to spend a few bucks on it. Go to conferences, and business seminars, meet with coaches, buy various courses, and read weekly business magazines, blogs, and self-help books. You have to spend money on this because it is worth spending. You have to surround yourself with people who have 10 ten times better results than you because they think differently.
If you can’t join physical conferences, go for online webinars. Engage with senior business coaches and ask as much as possible since questions can make them remember your name, which eventually grows a connection. You have to be bold to ask in seminars but don’t ask dumb questions or something that is rubbish. Your queries should have some value to add to the ongoing conversations. Lastly, don’t forget Your network is your net worth; hence grow it wisely!