What does it take to transform your solo law practice into a thriving small law firm? It’s more than expanding to a nice private office and hiring employees.
For solo lawyers, the idea of scaling your practice may seem unattainable. You’re likely already at your maximum client capacity and working more than full-time hours. The mere thought of expanding your practice is enough to send your stress levels skyrocketing. How can you possibly add growth to your never-ending to-do list?
It’s a difficult cycle to enter: you need people to grow, but human resources cost money. You want to grow your practice’s revenue, but you need talented individuals to help you serve more clients.
How can solo law practices cross the bridge into becoming a successful small law firm?
There is no single path to growth, but your decisions will be determined by how large and how quickly you want to grow.
Many solo lawyers start by offloading some of their most time-consuming tasks that are necessary for business but don’t directly generate revenue. Freeing up your time to focus on revenue-driving activities will be key in helping you transform your practice. As you’re finding ways to scale, you’ll also need to consider your current physical limitations, such as private office space and meeting rooms. As you take on more help, you’ll need to expand your physical space to accommodate.
In addition, you should focus on building efficiency into your practice. Creating and streamlining processes can not only simplify the work but also help you avoid lengthy training and onboarding when bringing in a new employee.
Take a closer look at some specifics on what growth looks like for the solo law firm and how you can start crossing the bridge into small law practice ownership. Read more.