Attorney Michele Katz, Co-Founder of Advitam IP, in her corner suite at 150 S Wacker
Guest speaker, Steve Fretzin, advises Amata members on a multi-step approach to grow your law practice. It is important to implement a set goal as workload or day-to-day distractions arise. Keep in mind that a plan should push you towards your goal. Follow these simple tips below to keep your firm’s growth on track.
- Create a Marketing Plan
First, think of the overarching goal you are trying to accomplish. Reference back to last year, were you able to follow through with your goals? If not, your objectives need to have a stronger strategy.
- Develop Strategies
Focus on 2-4 strategies to grow your business that work best for your particular practice. Examples of strategies include networking, sending emails, development of strategic partnerships, and cross marketing.
- Develop Tactics
For each strategy, develop 5-7 tactics to achieve those strategies. Tactics are methods to achieve your strategy and answer how to be effective, how to follow up, and how to execute. A tactic should answer who, what, where, when, and how.
- Create and Prioritize a Database
Your contacts should be reflected in your database. Think of everyone you know. Now prioritize them based on their ability to help grow your practice. Can they be a potential client, or do they have an avenue of introducing you to potential clients? Group them by A, B, or C- those who are directly useful, those who might be a useful connection (these two lists will be used to execute your tactics), and those who will be of no use to grow your practice.
- Attend and Utilize Events
Networking is your chance to grow from the bottom of the pyramid to the top. Be sure to research events before attending and not just attend the ones you hear about. Events that you should attend need to have your two targets: referral sources and actual clients. Don’t spin your wheels to attend events to keep active- that approach wastes time and money. Ask yourself where should I be and what types of events are good for my practice?
- Control Networking Meetings
Attending an event is the initial approach, but how you work and follow through an event is crucial. To see if a person is a target you want to ask a few thought-out questions to understand if this is someone you can help or vice versa. If not, its time to excuse yourself and move on. You don’t want to waste your time or theirs.
- Improve Client Experience
How do you plan to retain clients? All clients are not created equal and bring different values to your business. Simply break up your clients into categories for different approaches on how to retain them. Each approach may vary and be as simple as sending a newsletter, meeting once a quarter or calling to check-in. Keep in mind you are a lawyer but also a friend, so maintain a good relationship with each client. Lastly, don’t be afraid to ask your clients if they can help you by referring your business. Using the above steps to create strong relationships with your clients will help you feel more comfortable asking them for this favor.
These simple tips will help grow your law practice. Don’t forget in the midst of getting tied up with the little things it is important that your plan has a focus and clear direction. Don’t put off creating your plan. Start today to grow your business.
Steve Fretzin will be presenting What They Didn’t Teach You At Law School on March 21st at 180 N LaSalle, Suite 3700.
Watch the full video on How To Grow Your Law Practice In 7 Steps: