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Three business basics for independent lawyers

Your law practice as a small business

business basics for independent lawyers

As an independent lawyer, you are a small business owner. In order to achieve success for your firm, you must start with a foundation of sound business practices.

Below are three business basics for independent lawyers that you need to get started:

Financial Planning
It is essential to plan your finances. Payday is unpredictable for any small business, and you cannot count on having regular income. There is ebb and flow to any business, and planning with that fluctuation in mind is essential when making business decisions. Know the busy times and the quiet times and give yourself enough financial leeway to cover both.

Marketing is key
Getting the word out to customers is essential in any business, and a small business marketing strategy is as important as that of a large business. Customers need to know who you are, what you do and how you are different from the competition. Have a marketing plan and work on it every day, and give potential clients a reason to choose you over other lawyers in your field.

Keep up with paperwork and logistics
Every business has paperwork, and problems snowball rapidly when left undone. As a solid business practice, schedule regular time to complete paperwork and maintain operational tasks. This good habit keeps the work flowing and helps prevent issues that can arise when records are not kept properly.

Please contact us today to learn more about growing your independent law practice in Denver. We offer flexible office leases and co-working space for lawyers.