If you are a lawyer and wonder how to grow your personal injury legal practice, we outline several proven ways to do this below.
Working hard has many benefits for your career and income, but there can be a point with your legal firm where taking on too much can hurt.
You can become so wrapped up in administrative tasks that you don’t have time to talk to prospective clients. Also, it’s essential to spend time on marketing to get more clients, and you don’t want to be too busy on non-essential tasks to neglect that aspect of your business.
So, you should assess all of the tasks that are done in your legal practice each day. Then, figure out if you absolutely must do them yourself or if someone else in the office can do it. Further, another employee could do that work faster and more effectively than you can.
Invest In Law Firm Management Software
Lawyers who try to keep track of billable time by memory will always forget something and lose money. However, you can track your billable time efficiently when you use law firm management software. For instance, programs are available that let you bill time as you work and capture billable time in a dozen different ways.
For example, let’s say you work Monday through Friday for 50 weeks. You take two weeks off per year to go on vacation or take it easy at home. Lawyers who bill time at $200 per hour and forget 15 minutes each day can leave more than $10,000 per year on the table.
Leverage Technological Support
There are many technology solutions today for lawyers that can lighten your workload. For instance, do you hate all the time you spend typing? There are several services available that offer word processing and typing help. You just dictate by voice, and the service will type it for you.
Another helpful option is hiring a virtual secretary. Some companies charge only $10 per month for a basic virtual robot that works with your clients and prospects to set up meetings. Imagine how much time you could save!
Send Bills On Schedule
Tracking your time is vital to making more money, but collecting on time is also essential. Lawyers who get too busy on other tasks may delay their billing; you give clients financing at 0% and offer your legal services at a lower rate.
When you send a bill two months late, it may be contested by the client, and that can affect your bottom line.
Reconsider Hiring Full Time Employees
Before you hire a full-time worker in your office, consider if you can give that work to a contractor working remotely. This is a popular way small, growing law firms can get administrative work done at a lower price without paying for benefits.
Hiring freelancers or a contractor attorney can mean less time and stress for you because you can try before you retain the worker full time.
Another option is to bring in an office manager on a full-time basis. They can assist you with marketing, HR, and operations. Or, if you’re spending your time practising law, consider hiring a paralegal.
Remember that hiring a full-time employee means you must pay for insurance, benefits, more office space, and electronic equipment. This is an aspect that some lawyers don’t consider until they see how much that new full-timer costs them.
You can make more money in your personal injury practice if you follow the above guidelines, and you’ll have more time to do the work you love.