The practice of law is a respectable one indeed. No matter what type of legal professional in Sydney you are, solicitor or barrister. You’ll notice that people generally have huge respect for the legal profession. But one thing is important to keep in mind. Many legal professionals and practitioners work for large companies. Others run private businesses. Some work alone, others in small groups. So if you’re running a law firm, you must be a business person too. It’s not something to which you would have given much thought when you were struggling to pass those exams. In those days, the passion for the law would have carried you through. Yet, like it or not, law firms are areas where business and commerce intersect. To practice the legal profession profitably, you will need some business skills.
Business Tips for Family Law Businesses
Are you a solo practitioner? Or are you a partner in a firm of family law solicitors? Either way, you have business responsibility. You must make yourself and your partners if need be, aware of certain aspects of the running of the company.
You must take a certain amount of time in the month to assess the situation in your business. If you’re a partner in a company rather than running the company alone, there must be regular meetings. This will keep everyone up to date with business matters.
In the case of a partnership, you each should have clearly defined responsibilities. Unless it’s specifically agreed that one person takes care of business.
One person could be responsible for tracking company profitability. Another could be responsible for overseeing the office staff employed by the company.
You must try to project the company’s profitability for a year. based on the income the company makes per month. You should make careful notes of the partners who bring in the most revenue. Also, note the clients who are most profitable for the company. Use company successes discreetly in marketing the company’s services.
Marketing Tips for Family Law Businesses
Professionals sometimes find hustling for business to be distasteful and sleazy. It doesn’t have to be that way if you’re doing it right. Reliable Family law specialists are always in demand. You must alert the relevant people in the community of your presence.
Remember, families, are at the heart of local communities. So make sure that the local community has an awareness of who you are and where you are. You could incorporate your company’s years of service into a slogan. Especially if those years are long enough, i.e. ‘serving the families of our community for 30 years.’
If your local area has a community newspaper. It’s no harm to slip in a discreet advertisement on a regular basis. It will put the word out that you’re available to help local families. It may also generate gratitude from the newspaper committee. It depends on revenue from local advertising to keep afloat.
Keep a cash float handy in case someone requests your company to sponsor or co-sponsor a local event. Such as a community fundraiser. Remember, they will display your name as one of the event sponsors. This gets your name out among local community members.
Plant the Seed and Reap Rewards
You may have joined the profession because of your passion for law. Or to do good work in the greater community. But those running their own business must develop business management and marketing skills. It takes a little work to get them. But they pay off in the end.