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Month: April 2017

How To Grow Your Law Practice in 7 steps

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Attorney Michele Katz, Co-Founder of Advitam IP, in her corner suite at 150 S Wacker

Guest speaker, Steve Fretzin, advises Amata members on a multi-step approach to grow your law practice. It is important to implement a set goal as workload or day-to-day distractions arise. Keep in mind that a plan should push you towards your goal. Follow these simple tips below to keep your firm’s growth on track.

  1. Create a Marketing Plan
    First, think of the overarching goal you are trying to accomplish. Reference back to last year, were you able to follow through with your goals? If not, your objectives need to have a stronger strategy.
  2. Develop Strategies
    Focus on 2-4 strategies to grow your business that work best for your particular practice. Examples of strategies include networking, sending emails, development of strategic partnerships, and cross marketing.
  3. Develop Tactics
    For each strategy, develop 5-7 tactics to achieve those strategies. Tactics are methods to achieve your strategy and answer how to be effective, how to follow up, and how to execute. A tactic should answer who, what, where, when, and how.
  4. Create and Prioritize a Database
    Your contacts should be reflected in your database. Think of everyone you know. Now prioritize them based on their ability to help grow your practice. Can they be a potential client, or do they have an avenue of introducing you to potential clients? Group them by A, B, or C- those who are directly useful, those who might be a useful connection (these two lists will be used to execute your tactics), and those who will be of no use to grow your practice.
  5. Attend and Utilize Events
    Networking is your chance to grow from the bottom of the pyramid to the top. Be sure to research events before attending and not just attend the ones you hear about. Events that you should attend need to have your two targets: referral sources and actual clients. Don’t spin your wheels to attend events to keep active- that approach wastes time and money. Ask yourself where should I be and what types of events are good for my practice?
  6. Control Networking Meetings
    Attending an event is the initial approach, but how you work and follow through an event is crucial. To see if a person is a target you want to ask a few thought-out questions to understand if this is someone you can help or vice versa. If not, its time to excuse yourself and move on. You don’t want to waste your time or theirs.
  7. Improve Client Experience
    How do you plan to retain clients? All clients are not created equal and bring different values to your business. Simply break up your clients into categories for different approaches on how to retain them. Each approach may vary and be as simple as sending a newsletter, meeting once a quarter or calling to check-in. Keep in mind you are a lawyer but also a friend, so maintain a good relationship with each client. Lastly, don’t be afraid to ask your clients if they can help you by referring your business. Using the above steps to create strong relationships with your clients will help you feel more comfortable asking them for this favor.

These simple tips will help grow your law practice. Don’t forget in the midst of getting tied up with the little things it is important that your plan has a focus and clear direction. Don’t put off creating your plan. Start today to grow your business.

Steve Fretzin will be presenting What They Didn’t Teach You At Law School on March 21st at 180 N LaSalle, Suite 3700.

Watch the full video on How To Grow Your Law Practice In 7 Steps:

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Choosing a New Business Space

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Have You Considered All Your Needs?

As if the role of being a business owner wasn’t daunting enough, choosing an office space may be one of the hardest parts of the job. While the monthly cost is probably your biggest concern, don’t neglect to cover all your bases while looking.

There are other needs you should consider before signing on the dotted line, including how your decision will affect other stakeholders, including employees, suppliers and customers or clients.

Besides cost, here are some other needs you don’t want to overlook:

  • What image do you want to portray? Is your business casual or formal? The space you choose should reflect the feeling you want people to get when they walk in.
  • In what part of town do you want to be? Do you want an urban or suburban office space? Is it important for you to be close to public transportation, have easy access to highways or be close to the airport? Is the area safe? This is important to consider, especially if you work non-traditional hours or have employees.
  • How far is it from your customers or clients? If you have meetings with your clients on a regular basis, you’ll want to make it as easy as possible for both parties (yourself and your clients) to get together.
  • What are the local zoning regulations? Learning what the zoning regulations are in advance could save you a lot of trouble down the line. Pay attention to who your neighbors would be. Are there direct competitors near the office? Are there any inappropriate connections with neighboring businesses (for example, are you opening a day care next to a lingerie store)?
  • How much are taxes? Find out the income and sales tax rates for your state, as well as the cost of the property taxes.
  • Is there a quality local talent pool? If you’ll be hiring in the future, you’ll want to make sure you’ll be in a location that would attract quality employees with the skills you need.
  • What’s the parking situation? You’ll want convenient parking for yourself and all of your stakeholders. Consider whether it would be free or paid parking and how that would affect employees’ budgets.
  • Is the space wired for modern conveniences (wireless internet, air conditioning, phone)? It’s becoming more popular for business owners to choose historical buildings for their unique look, but be careful to ask whether it’s wired for all of your communication and modern-convenience needs. If not, factor that into your decision.

Have you considered a shared office space?

Leasing an Amata shared office space is a great option for those people who run small businesses, don’t need traditional office spaces full-time or maybe just want to spring free of their home offices. When leasing a shared office space, you’re paying to use a shared space with other professionals.

There are several benefits to utilizing Amata’s shared office spaces, including:

  • Access to multiple downtown office locations and their amenities, including conference rooms, copiers, workspaces and mailing supplies
  • Convenient access to public transportation and highways
  • Networking potential with other businesses sharing the space
  • All-inclusive leasing fees, so you don’t have to budget around fluctuating utility costs
  • A business mailing address separate from your home address
  • A receptionist to receive packages when you’re not in the office
  • No responsibility for property taxes!

Contact Amata Realty Group!

If you’re searching for a new space or are interested in one of our shared office space packages, contact Amata Realty Group. We work with tenants to help them find spaces with services that meet their needs. Reach out to us today!

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