Have you ever asked yourself, “Did _______(insert client) pay their bill last month?” If you have, you will understand this post, which is for you.
How do you increase your chances of maintaining profitability?
-Optimize Billing Practices:
Consistent billing practices, such as reviewing hourly rates congruently reflect the delivered value to the client. Know the fees and what should be charged to the client. If time isn’t tracked accurately, it’s like a thief in the night. Guard and track your billable hours.
-Leverage Technology
There are a ton of solutions out there that are specifically designed to help small and solo law firms. Investing in technology can free up and automate tasks like client communication, document management, and billing. The efficiency will add to your bottom line.
-Outsource and Hire Contractors
Tasks like legal research, paralegal work, and admin work, give that to specialized professionals. If your personal cell phone is ringing because multiple clients have access to you 24/7, it may be time to look into outsourcing. Doing this will free up your time.
If you are spending time formatting a document for evidence, repeatedly drafting the same complaints with different captions, or contacting the sheriff’s office, you may want to consider a contract paralegal. That’s what I do. If you would like to explore that option, book an appointment with me at https://myparalegalpro.com/appointment-scheduler/
-Keep a worm in the water
Continuous marking for your firm is the lifeblood of your business. The best form of marketing is satisfying clients and repeat business, however, do not neglect content marketing, networking events, and social media to bring in more clients. Your clientele supports your firm. However, that doesn’t mean taking your foot off the marketing gas. Keep a worm in the water so the fish have something to eat. Keep your marketing consistent so that when people are looking for a law firm, they think of you.
Follow me on LinkedIn
https://www.linkedin.com/in/christina-soccora-holmes-
Click here to book a FREE discovery call