A small law firm can have a big reach with the right strategy
How do you build a small law firm with a big impact in the modern landscape? Tailor your offerings, lock down your client service, reduce expenses and partner with the right people.
Big law firms and even in-house counsel no longer have a corner on corporate legal services. In fact, many corporations have left big law firms in search of smaller, more nimble firms. Why?
Innovation and collaboration
When faced with an out-of-the-ordinary case, in-house counsel does not always have the knowledge or bandwidth to address it effectively. Small law firms, however, tend to have a broader base of case experience that serves them well. They also tend to stay on top of recent legal developments, which can become a huge asset for corporate clients.
In addition, small law firms have relationships with other lawyers and law firms. They can draw on these relationships as needed to create a sort of Dream Team for each case. This ability to move and flex according to client needs can help set small firms apart from bigger firms with more entrenched processes.
As an independent practitioner or small firm lawyer, working in a shared office environment can help you develop a stronger referral and collaboration network.
On the point of innovation, take time to map out your business plan and include ideas for how to differentiate your practice from the big guys. You can also innovate by challenging the traditional law-firm model, including how to reduce overhead expenses and increase effectiveness with technology.
For a place to start, check out this law firm mind map from MyShingle.
Focused solutions
We often recommend developing a crystal-clear niche when marketing a small law practice. That strategy helps a small law firm find and serve clients efficiently. Operating a general practice leaves too many doors open and results in a vague and ineffective marketing strategy.
A niche practice area also helps your firm’s attorneys develop a strong reputation as the go-to sources on that subject matter. Both clients and other attorneys in the region will begin to recognize your firm for its work in that area, which opens up more opportunities for referrals. Other firms will also think of you first when they need to collaborate with a lawyer in your practice area.
Personalized service
Clients want attention from the person with the answers. As a lawyer at a small firm, your strength lies in developing strong client relationships based on personal service. Think beyond the basics of client service and strive for high-quality client experience.
Lawyerist explains the difference:
Generally, client experience is the sum of all interactions a client has with your law firm – the entire journey – from hearing about your firm to closing their case. Client experience is the entire experience of a client’s interactions with your law firm.
Client service, on the other hand, refers to the service-delivery related contacts clients have with your team. Good client service is meant to increase client satisfaction while addressing any issues or questions your clients may have while interacting with your firm.
That article points out the competitive advantage in developing a client-experience culture and strategy:
“Businesses that excel in designing great customer experience grow revenues 4%–8% above their market, according to Bain and Company. A great client experience also increases long-term loyalty, which has an added impact on revenue growth.”
In addition, with regular and open communication, you will know sooner when a client needs a different approach. You can make on-the-spot decisions without the lengthy approval processes required at many large firms.
Your response time and ability to shift as necessary will help you win fans and repeat business.
We work with innovative law firms in Denver and Las Vegas. Learn more about how we support small law firm growth in our shared office settings. We also work with larger law firms on creative real estate solutions that can reduce overhead.
