Originally published by Jordan Turk, Attorney and Legal Content and Compliance Manager at LawPay.
When it comes to running a firm, two of the most common questions presented are:
1. How can I get more cash in my pocket?
2. How do I get more potential clients through the door?
The topics can at times intertwine but each requires a different plan of attack. So, you want to generate more cash flow and increase the foot traffic to your firm, but is there a way to do this that doesn’t involve hiring an outside firm or spending an arm and a leg on marketing?
The short answer: YES.
By referencing our Law Firm Referrals Checklist, you can make simple adjustments to your law practice that will drive cash flow to your office as well as direct potential clients to your services.
Securing a future client can be as simple as sending a thank-you note at the conclusion of a case, or composing an email to a prior opposing counsel. These actions do not have to take a huge chunk of non-billable time out of your day. In fact, if you wish to accomplish everything on our law firm referrals checklist, you are looking at maybe a couple hours’ worth of work each month.
So carve out some time around the beginning of each month to do an audit of the month prior. Grab a cup of coffee, chase after unpaid invoices, write some notes, do a little networking, and watch your practice (and cash flow) grow.
Remember, growing a successful business does not happen overnight. You have to tend to your office, pull out inefficiencies, and nurture your client base. These actions will pay off in the long run.
Get the free law firm referrals checklist by clicking here.
Curated by Texas Bar Today. Follow us on Twitter @texasbartoday.
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