How To Tell If Your Law Firm Business Model Is Broken

I have had quite a few chats with solicitors over the years during which I discover that their business model is broken.

They don’t use these words, but I soon discover that this is the truth of the matter.

The conversation usually goes something like this:

“Nick, I don’t need any more clients. I don’t have enough hours in the day for the ones I already have.”

That is fantastic”, I reply. “So things are going really well for you and you have a continuing supply of new enquiries and are making really good profits then?”

“Oh no, I am working six or seven days a week and I am barely breaking even.”

“Oh no. Would you like me to tell you how to fix that then?”

“I would love you to!”

“Start by putting your prices up.”

“Oh no, it’s not that simple Nick. I can’t do that; I would lose all of my clients.”

It really can and is that simple; well almost.How To Tell If Your Law Firm Business Model Is Broken

If we have learned anything from this dreadful pandemic, it is a reminder that time and life are precious. We need to make the most of every second of every minute of every hour of every day.

When you automate or outsource your marketing so that it produces a steady and consistent flow of ‘the right types of’ new client instructions (not just anyone who will say yes to your cheapest rate), you can dramatically increase your profits and your time away from your law firm.

The key thing is to:

  • Have two or three automated marketing tactics working for you day and night to drive prospects to your website.
  • Ensure that your website pre-sells your expertise so that when your prospect has that first conversation with you, they know you are not going to be the cheapest, but that you are going to be one of the best.
  • Hold the Meaningful Conversation with your prospect, so that you get to the ‘nitty gritty’ of their challenges and concerns and explain why you are the best solicitor for their needs. This is Blueprint 2 inside the Marketing4Solicitors
  • Follow up in the right way to land more instructions.

When you put these practices in place, you can charge a proper price for your services, reclaim your weekends and generally have a lot more fun.

I have worked with conveyancing solicitors, possibly the most commoditised legal service in the country, and they have successfully done this, so it works for all legal services.

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Case Study

“We’re busier and more profitable than ever before, but we’re also having more fun too.”

I came across Nick and Samson Consulting back when I was employed and looking for help to grow my caseload.

Unsurprisingly I found him on Google (he definitely has a knack for that platform!), while looking for a legal marketing expert, and ended up joining his Marketing4Solicitors group, learning from afar for several years.

His advice was smart, sound and – most importantly – it worked.

And that’s why when I came to start my own firm up three years ago, I pretty quickly ended up giving Nick a call and started working with him.

I had used another company to help me with some online marketing before that, and to be honest – it was an absolute disaster, costing huge amounts of money and not really delivering any tangible results.

I hoped that wouldn’t be the case with Nick, and I was right.

I brought him right into the business, getting him involved top to bottom, and I can honestly say that it’s the best thing I’ve ever done.

His guidance quickly starting paying dividends, as he coached and mentored me on how to generate more interest and achieve more client instructions, as well as generally how to structure the firm in a way that was the most profitable and productive.

Three years in, and I’m over the moon with the impact that Nick has had on my business.

We’ve got a clear focus and a direction, we know why we do what we do, and most of importantly at all, we’re more successful.

We’re busier and more profitable than ever before, but we’re also having more fun too.

That’s one of the best things about working with Nick – the fact that the advice and guidance he gives is so holistic.

It’s not just about making money, although he has had a huge impact on that for us, but it’s also about helping me to enjoy my life, and growing my firm in a way that means that I have more money in the bank, but more time to enjoy life with my family too.

I guess that’s what makes him so different to others out there – he really does have my best interests at heart and I trust him implicitly.

It’s hard for me to convey just how good Nick is at what he does – before I started working with him, I thought I was pretty good with PR and marketing, but the truth is that in comparison to Nick, I really don’t know anything.

Nick really is a very, very smart guy, and when it comes to running a profitable legal firm, I think there are very few people who could touch him.

And that’s why I’m glad he’s on my team, and that isn’t just hyperbole – he really is a part of my team: any significant business decision I make is run by him first, because I know he’ll give me useful, tangible and practical advice that’ll result in the best outcome for me and the people I care about.

Before working with Nick, I felt like I was on my own, and the future of the firm was on my shoulders; to be honest it was quite a weight.

But now, I’m relaxed about the future, because I know that I’ve got Nick in my corner, one of the smartest marketing minds I’ve ever come across, and a truly honest good guy to boot.

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