Was your solo law firm affected by the pandemic? You're not alone; many firms scrambled to make sudden changes to how they ran their day to day practice—lack of preparation and the systems to respond with agility created a headache for many firms around Australia.
With the pandemic approaching an end, it's time to start implementing “pandemic-proof” strategies to ensure your firm thrives and remains resilient in this new "normal". These strategies should include:
- Being agile in an ever-changing post-pandemic landscape
- Developing solid relationships to keep existing and find new clients
- Implementing secure and intuitive systems to service the needs of your firm.
Develop Better Relationships With Clients
Lawyers are in the business of servicing their client's legal needs, making it important to look at ways to strengthen these relationships.
You can develop your client relationships with premium legal services, consistent communication and effective processes that result in high levels of customer satisfaction. Improving how you connect with your clients can also help strengthen client relationships as the demand for good customer service has never been more highly valued. Good customer service leads to higher customer satisfaction levels. Customer satisfaction leads to clients who are easier to deal with and more inclined to pay on time.
Developing better relationships with your clients can also lead to more client referrals - and there is no better marketing than social proof from your clients.
Consolidate Your Finances
Many solo firms struggled financially throughout the pandemic, with profitability taking a nosedive. To succeed in the future, you must understand the financial standing of your law firm and put tools and practices in place to help improve this post-pandemic.
To help your solo firm rebound positively, you can start with the following strategies:
- Observe your weekly cash flow and capital
- Create an efficient cash collection and accounts receivable process
- Build your firms cash reserves and credit lines
- Readjust your budget
Software like mattero simplifies your billing and makes it easy to manage your firm's trust accounting with streamlined efficiency.
Create A Sustainable Work-Life Balance
Lawyers are already known for working long hours. Once the pandemic hit, there was extra pressure to work longer to keep everything afloat. It may be easier to keep working past regular work hours, take fewer breaks and accept calls at all hours when you're at home. But these practices are not sustainable in the long run without causing burnout.
So, if you've had to compromise on your working hours during the pandemic, we suggest you re-evaluate and put healthy boundaries in place. There needs to be a shift to efficiency and quality rather than just the quantity of hours worked.
While working fewer hours may seem counterintuitive to making your firm more successful and profitable, creating a better work-life balance can increase productivity. Increasing productivity leads to better quality work and happier clients who will pay on time.
Spend On Marketing
When times are tough, businesses may forego spending money on marketing. While developing your client relationships will help you create a solid foundation for income for your solo firm, it's also essential to make it visible to other potential clients.
Focus on strategies and marketing activities that drive brand awareness for your firm, keeping your firm visible in the minds of your potential clients. Share helpful content like updates, blog posts and videos across social media platforms that drive traffic back to your website. Whether you're confident to carry these activities out yourself or employ expert assistance, marketing your solo firm is a must.
Streamline Your Work Processes
It was observed during the pandemic that technologically savvy firms proved to be more competent, and their work processes were less affected.
If you want to be successful post-pandemic, streamlining your processes with the right technology is a must-do. It can save you a lot of time, and time is precious when you're working solo. Time is money. The more time you bill, the more money your firm will make.
Help streamline your processes with a work management tool like mattero. This software solution improves your operations, reduces time spent doing unnecessary tasks, and improves your firm's performance.
Let Your Solo Firm Thrive With mattero
There are many strategies to consider to help your solo firm thrive in the post-pandemic world. Agility and having the right tools in place are the most common strategies mentioned.
Legal software like mattero is an all-in-one tool that is customisable and easy to use and is an affordable solution that helps future-proof your solo firm. Sign up for a free trial today to understand how our software can improve how your practice operates.