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Press That Reset Button By Revamping Your Law Firm Business Plan

Having a little time off over the holiday period should mean that you have time to destress and let go of all of the 2021-induced chaos. However, if you are still feeling those nerves creeping in, it’s time to hit the reset button on your business. Put any of your past business mistakes behind you, and move forward with a clean slate. You should also use this as an opportunity to start running your law firm like a business. To do this, you could:

• Revamp your law firm’s business plan. 
• Reassess your finances, finding ways to improve your law firm’s cash flow. 
• Develop a talent acquisition plan. 

Work On Improving Company Culture

Poor company culture could be the reason why your firm is struggling with employee retention. In fact, it is often cited as one of the most pressing reasons why employees across all sectors leave their jobs. Issues within company culture at law firms can be hard to identify, as the industry as a whole is rather competitive. However, as opposed to leaning into this hyper-competitive culture, go against the grain and develop a positive and supportive workplace culture. Thankfully, there are various ways in which you can achieve this goal. 

• Don’t expect your employees to be superheroes who can do 100+ tasks simultaneously. This is nothing but a recipe for burnout or poorly completed projects. 
• Encourage employees to collaborate with each other.
• Focus on boosting morale by ensuring employees’ needs are met within the workplace. 
• Reward employees for a job well done – even a simple, ‘well done’ can go a long way. 
• Check-in with employees regularly to identify any issues they may be dealing with. 

Understand That Not Every Task Must Be Carried Out In-House

If your law firm is on the smaller side, it’s important to realize that you don’t have to carry out everything in-house. In fact, outsourcing can take your law firm to the next level by giving yourself and your employees the gift of time. For example, if you were to utilize our accounting services, you’d no longer have to waste hours of your time looking through receipts and bookkeeping. We’d do all of the difficult work on your behalf – so that you can focus on what you do best, supporting your clients. 

Keep Up To Date With Industry Trends

When running a business, the key to survival is being able to stay ahead of trends or to predict the behaviors of your clients and consumers. This also applies to the legal industry. For example, some sectors, such as the divorce market, are set to see increased demand in 2022, likely due to the strain that the pandemic has placed on interpersonal relationships. As such, you should ensure that you are prepared for this spike in inquiries or cases. Otherwise, you’ll be turning away potential clients. 

Update Your Marketing Strategy

While many law firms gain clients through referrals, word of mouth marketing alone is often not enough to sustain your company. As a result, your online marketing strategy is more important than ever, especially in a world where we rely on technology and our social media feeds. In fact, many clients will use social media to search for law firms before heading over to google. Start the year off on the right foot by updating your online strategy and putting together a weekly content calendar for your social media feeds. This way, you’ll be able to engage with your current clients and reach out to new ones!