5 Strategies Top Lawyers Take to Build Million Dollar Private Practices

Illustration of a lawyer, law school and oversized books.

When legal professionals start private practices, the primary goal is always to attain success. For most, this means building a multi-million dollar firm. Unfortunately, this can prove difficult without the right strategy. Watching other growing law firms can feel disheartening — especially if your own growth has stalled. If you’re in this situation, though, all hope is not lost. 

By utilizing the following business strategies for your law firm, you’ll increase the chances of growing from a small legal practice into a regional powerhouse.

1. Maintain Your Reputation

All growing law firms know that everyone they encounter is a potential client. This also makes them a potential business opportunity. Because of this, you should strive to always remain professional and not burn any bridges unnecessarily. Even if others are getting into frays, try your best to stay above it all. Of course, there are also other ways to maintain your reputation. 

For instance, take time to interact with feedback you receive from clients online. You can find these reviews on Avvo, Google, Facebook, and more. Thank those who leave positive testimonials. If someone is critical, take time to respond in a constructive and understanding manner. This will show potential clients that you care and are willing to listen.

2. Maximize Your Budget

One of the most important business strategies of growing law firms is maximizing their budget. This is true within any field, but a crowded legal industry means attorneys must be hypervigilant. By utilizing the following business strategies for maximizing your budget, you can improve your odds of joining other growing law firms on their way to multi-million dollar status: 

  • Create and stick to a budget
  • Automate certain marketing tasks
  • Set specific and measurable goals at the onset of every case
  • Frequently evaluate spending and find ways to improve
  • Consider outsourcing certain tasks

That last point is especially important since outsourcing can be far more cost-effective than handling everything in-house. For instance, tools like Abby’s live reception can provide excellent customer service, appointment scheduling, custom answering hours, and more at a great price. This is an ideal way for growing law firms to keep their budgets on track.

3. Connect With Clients Through Social Media

You’ve obviously got a lot going on with running a private practice. Unfortunately, this doesn’t mean you can overlook necessary tasks. In recent years, reaching consumers through social media has become one of these tasks. It allows you to stay in touch with clients at all times, and it lets you reach potential clients in ways that word of mouth simply can’t accomplish.

4. Specialize and Focus on Your Expertise

From podcasters to law firm answering services, everyone understands that specialization is important. You must find a specific and needed niche to fill. Whether you excel in intellectual property, environmental issues, constitutional questions, or any other area, focusing on that field will prove invaluable. 

This isn’t just an assumption based on anecdotal evidence. Many growing law firms in America’s most populated city have found success with increased specialization. People want to be assured that you know what you’re doing. If your website lists estate planning, criminal trials, child custody, and personal injury as all of your specialties, that assurance is unlikely to come.

5. Recognize the Importance of Marketing Growing Law Firms

We’ve scratched the surface of some marketing issues in this guide, but that doesn’t do justice to the importance of this task. You must go beyond social media and reputational management. Law firms are still businesses, and you must treat yours as such. 

Read a guide on legal marketing. Attend a marketing seminar. Visit Fiverr to see the low-cost marketing services available. If you go that route, though, make sure to pay attention to user reviews. Like Abby virtual receptionists, marketing may be another area ripe for outsourcing.

Join the Ranks of Growing Law Firms Today

When you first start a private practice, becoming a multi-million dollar law firm might seem like a lofty goal. Realistically speaking, it is. The tips discussed in this guide, however, are what top attorneys have used for years. If you just keep these business strategies in mind and consistently strive to accomplish them, your law firm can become everything you’d hoped for and more. 

Some of these steps involve planning, but you can get started with dependable live reception services that maximize your budget right now. Abby can help. Need to know more about live receptionists? Download our Visual Guide to Virtual Reception today and learn just how simple it is to get started.

Written by

Hope Holland

Hope Holland

Hope joined Abby Connect in 2016 as a receptionist. She now leads the Sales Team in their efforts to help small businesses with their communication needs. Hope has always valued the customer experience and understands how crucial it is for businesses that want to succeed. With this mission, she strives to help businesses connect with their clients and improve the experience their business offers.