Small Law Firms

Things To Do When Business Is Slow

Inevitably, low revenue happens to the best of us.

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lawyer wait waiting interview meeting clock billable hour.jpgJanuary 2022 is not shaping into a record-breaking revenue month for my firm. I’ve had financially successful months — beyond anything I could ask, think, or imagine. I have also had months like this January. Inevitably, low revenue happens to the best of us. Business slows down. Then, the fear of low revenue creeps in. What about salaries and expenses that need to come out this month?!

Fretting about revenue has wasted endless hours of my life. The slow trickle of business used to mean a personal failing: me falling short and potential clients not wanting what I have. This fear has robbed me of the enjoyment of great months because I would be worried that the next drought or Snowmageddon is around the corner, waiting to rob me of new sales.

In truth, increasing revenue is the part of my business where I feel the most resistance. I have had to work hard to raise my rates, express the value of working with my firm, and be comfortable with silence after asking prospective clients whether they are ready to move forward. I am not a superperson, but I know other ways to cope with a drought in business that have nothing to do with sales calls.

I am by no means guaranteeing anything by using the following list, but it is a start when you feel like you have done everything you can and still have no consultations on your calendar.

Wellness Ideas

  • Get outside. Research supports the benefits of the outdoors. Sink your feet in the grass (this will not work for you snowbound folk until spring), take a brisk walk, or just be in nature.
  • Enjoy the company of loved ones. I can never overstate this. Get your fix of a good wholesome company, meet a friend for coffee, or go on a (virtual) walk with your favorite cousin.
  • Schedule a break. Taking a break or vacation may seem counterintuitive, but it can offer the best reset when financial stress overtakes you. A break doesn’t have to cost any money.
  • Volunteer somewhere. Help others in need, physically drop off coats at a local shelter, offer a ride to someone with no transportation, or read to your child’s class. Lend a hand.
  • Explore a new hobby. Sign up for a class, watch a YouTube video, or download an app that will teach you something. I recently started taking Spanish lessons and watching telenovelas on Netflix.
  • Get some physical exercise. However you can get it in, do. I mentioned joining a running club in January. I have run over 30 miles this year, more than I have run since high school. You can walk, ride, or do a couple of minutes of planks with a plank app.
  • Book appointments you have put off. Now’s the time to get into the chiropractor, massage therapist, or doctor if you’ve put that off due to time.

Business Ideas

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  • Ask for help. Reach out to a trusted professional or a friend and ask them what they would do in your situation.
  • Ask past clients for referrals. You can send emails letting them know you are accepting new clients. Offer a discount for the new referral and send a nice referral gift.
  • Look at your systems and processes. If you have a problem with a system, now is a great time to audit how the sausage is made and make necessary adjustments.
  • Market, Market, Market. Put your services out there. Offer valuable thought-leadership and always ask for the business.
  • Network with aligned professionals. If you are an estate planner, one idea is to hit up other lawyers or financial service providers who could refer business your way. If you are a real estate lawyer, you can speak to brokers and realtors to stay front of mind.
  • Refine your offers. Have you heard that the riches are in the niches? Or is it snitches get stitches? Either way, look into it.
  • Start producing content. If you speak, make videos. If you write, blog. If you dance, make a TikTok video. You don’t even have to stay on the topic of your profession. Sometimes it’s fun to do something you can’t tie to anything else.
  • Sign up for professional development. Take a course, read a book, or attend a lecture to learn something new to add to your practice.

I hope you find this exercise helpful next time you feel down about trickling in sales. Please send your comments to iffywrites@ibekwelaw.com.

Iffy Ibekwe is the principal attorney of Ibekwe Law, PLLC. She believes that women deserve to make decisions that affect them with wills, trusts, and other estate planning documents. Activating women is Iffy’s calling, and she also loves speaking internationally about entrepreneurship, estate planning, motherhood, and supporting other women lawyers. Currently, Iffy is writing her first book on culturally competent estate planning, available in 2023 (prayers up!). A double-Longhorn, Iffy graduated from The University of Texas (undergrad and law) and has practiced law for over 15 years. Iffy can be reached by email at iffywrites@ibekwelaw.com, her website, LinkedIn, and Instagram @iffyibekweesq.

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