5 Bright Ideas Proven to Build Your Legal Practice
Too busy practicing law to build your practice? Here are 5 bright ideas proven to change that.
You’re practicing law, but are you also building your practice? If you feel business development is not receiving the attention it deserves, you’re not alone.
Yet there are other attorneys who are consistent rainmakers. How do they do it? What’s their secret?
These attorneys understand that it’s not simply about working harder. It’s about working smarter, and investing the right tools in to enable them to deliver their best work in less time and with less effort so they can focus on more strategic activities.
Below are five bright ideas proven to build your legal practice using Thomson Reuters’ Practical Law.
Bright Idea #1: Get in front of prospects and gain the trust of clients
Presenting free seminars on a current legal topic relevant to your prospective clients and offering complimentary workshops on legal issues that concern your current clients are effective methods to showcase your experience and position you as a trusted advisor.
Practical Law’s ready-to-use presentation materials and plain English guidance can help you integrate this effective business-building strategy with a minimal investment of time.
Bright Idea #2: Understand and empathize with your prospects and clients
The most effective new business pitches are prospect-centered. You must understand your prospective client’s business and what keeps that prospective client up at night. You must demonstrate you care about them and that you are the attorney who will solve their legal problems. That same understanding of, and empathy for, your prospective client’s business can also help you deepen your relationship with your existing clients in that same industry.
Through tools like What’s Market, Practical Law can reduce the time and effort in developing and maintaining industry expertise.
Bright Idea #3: Cultivate prospects and be top-of-mind with clients
A regular e-newsletter that a prospect or client has opted-in to receive is a great way to demonstrate you understand the current legal issues that keep both your prospects and your clients up at night, helping position you as that trusted legal advisor.
Practical Law keeps you abreast of the latest legal issues on a weekly or monthly basis.
Bright Idea #4: Provide superior client care
One way to consistently provide superior client care is to respond to your clients’ requests for legal advice quickly, efficiently and accurately. This helps you strengthen your position as a trusted partner while improving your profitability – even in fixed fee arrangements – by freeing up more time.
Practical Law’s plain English summaries, expert analyses, and research tools can help you become an “instant expert” on any topic, helping you respond quickly and in terms your clients will understand.
Bright Idea #5: Expand your client base
Two good ways to expand your current client base are to either find complementary industries to your current clients or niche practice areas that would further benefit your current or future clients.
Practical Law can help you rapidly and thoroughly research businesses and industries adjacent to or outside your current wheelhouse, expanding your expertise and enhancing your ability to compete for business.
