Reboot Your Law Practice

The hosts discuss a recent Above The Law article about getting clients. The author of the article discusses how she thought about the steps she took when she selected a professional to hire. She applied what she did in those situations and what was important to her in developing her practice. The first step most folks do in selecting a professional is seek suggestions from their referral network. They then will check the person’s credentials, give them a call and examine their responsiveness. These are steps that your clients will be taking when selecting a lawyer so you need to examine how you would be judge by this criteria. The authors also discuss keeping your name and services on top of your client’s mind by using newsletters, blogs, and emails. It’s not easy - it takes planning, patience, attention to detail and consistency but keeping contact with your clients and keeping a strong online presence is a necessary step in rebooting your law practice.

This week we welcome Stephen Furnari of lawfirmsuites.com. Stephen Furnari is a self-employed corporate attorney and the founder of Law Firm Suites. Law Firm Suites is a professionally managed shared law office space for solo attorneys and small law firms based in New York City. Through Law Firm Suites, Stephen has helped dozens of attorneys launch and grow successful law practices. He is the author of several eBooks, including “7 Deadly Mistakes that Prevent Law Practice Success” and “An Insider’s Guide to Renting the Perfect Law Office”. Stephen has been featured in the ABA Journal,Entrepreneur, New York Daily News and Crain’s New York. He can be connected with on Twitter (@stephenfurnari) or Google+. Stephen explained that his business model is not merely the rental of or sub-rental of office space to lawyers. Plenty of lawyers rent out part of their suites to other lawyers. His business requires tenants to agree to a collegiate atmosphere that encourages cross-referrals. The model is to form a cooperative environment where lawyers form different practice groups can work together, share costs and refer each other business outside their own practice areas. The hosts discuss with Stephen how his business model fits perfectly into the Reboot philosophy that the best way to develop a self-sustaining, fulfilling practice is through networking and creating a reliable referral program. The podcast discusses the details of Stephen’s company and how young or struggling lawyers can benefit form participating in a positive, collaborative environment. Stephen has set up a special offer for our listeners. Go to www.lawfirmsuites.com/lawreboot to get a free copy of his guide: The Ultimate Guide to Maximizing Referrals in a Shared Law Office Space

Episode 17 Developing a Niche Practice – Part 2 The hosts continue their discussion of how to add a niche practice of law to your business. They remind listeners that it may take time to grow, it will not happen overnight. Scott and Oscar give some specific details of how to start such a practice. It starts with setting goals and creating a business plan. Selecting the right area is key and it may take more than one attempt to find the right niche. It’s best to look at areas that you already have a potential to get business in that area. Some pointers:• Start by deciding the large practice group – Family Law, Criminal Defense• Look for narrow topics within those larger areas –private adoption for example in Family Law or Forfeiture Proceedings in Criminal Law • Research the field and see what it is that clients will be looking for; analyze the market place to see if that niche is already glutted with lawyers. Are their associations you can join that will expose you to businesses and entities that may need the services you a relooking to provide? • Develop social media around the niche area including a separate web page entirely or at least a strong section on your current website devoted to the niche area. Write an article or two in that field before you start marketing yourself.• Continue networking but focus on establishing yourself as the go-to lawyer in that niche area. Remember that the whole point is to differentiate yourself from other lawyers and to have clients who are looking for lawyers in that niche area find you and hire you. Patience is key, take time to decide on the right area, put the social media in place directed at that area before you start marketing and networking and then go out and channel your networking efforts in trying to attract business in your chosen niche area.

Scott and Oscar talk about legal bogs and how to develop one for your practice. In today’s marketplace, a legal blog provides content to your website and also allows clients to see how you write and take positions on areas of law. The hosts provide talking points for you blog and give advice on how to create a worthwhile legal blog that will be looked at favorably by clients, prospective clients and other lawyers. Quick tips include:

(1) Make sure the articles express your voice and viewpoint. Bland generic, boilerplate articles will not generate the interest or attention you will want.(2) Set time aside to blog at least once a week. Old stale articles will make you look like the blog is an afterthought. (3) Keep SEO in mind. Have a web designer and SEO specialist give you pointers on how to make your blog more searchable and drive it to the top of search engine requests for the key words that focus on your practice.

One thing lawyers in small or solo practices can do to help revitalize their current practices is look to developing a practice in a niche area of law. Scott and Oscar discuss specific lawyers who have developed such practices in a variety of legal fields – steroid law; bicycle accidents and representing pet owners. They also discuss how adding niche areas to their own practices helped increase their cash flow and provide a steadier revenue stream. The hosts provide pointers on how to develop such a practice and how adding a niche area of law cannot only enrich your business but also provide an area of law that interest you and keeps you focused on practice development.

Keith Lee is a practicing lawyer and columnist for Above The Law who started his own legal blog Associate’s Mind when he was still in law school. Keith graduated law school in 2010 right when the legal industry imploded. He knew that he needed to find a way to differentiate himself from the pack. When he had interned for a law firm during school. He had helped that firm set up and launch their own blog. He saw that it helped generate business and interest in the firm. But what could he blog about having just graduated law school? Keith knew he would lack the authenticity needed to be successful if he started to blog about a specific area of law but he also knew that a successful blog had to have a viewpoint. So he started blogging about what it meant to be a young associate in the current legal marketplace: · How would he generate business?· How would he form a relationship with a valuable mentor?· How would he learn the ins and outs of actually practicing law Because of the unique voice and viewpoint in Associate’s Mind, he secured a book deal with the ABA; became a popular speaker at law school’s and law firms; and was soon in demand to consult lawyers about what it meant to be in the trenches. Keith also recognized that his blog filled a void in information for young associates because they were not getting any of that information in law school. The hosts discuss with Keith their experiences in dealing with young associates both in their firms and as adversaries. They see the lack of awareness of the “business-side” of law and discuss how the blame for that failing falls onto law schools allowing professors without real-life experience to often be the main voices that law students hear. Law schools need to become cognizant that not all law schools are the same and not all law schools are the same. They need to adjust for where they sit in the law school pecking order – they all teach to Big Law even though their students have no chance to get those jobs. The law school model should be adjusted for Tier III and Tier IV law schools to cater to their regional needs. Sixty Percent of all lawyers practice in firms of 10 lawyers or less. Law school curriculums need to be focused on producing law students who graduate with a focus on small firm or solo firm life. Keith discusses specific points of how young lawyers can distinguish themselves in the marketplace:

· Make sure you think about who you are applying to; tailor your cover letter and resume for the specific needs of the job you are looking to get;· Specificity is key – do some research about the job and target your communications to the firm based upon what you learn about them before you apply; · Find a good mentor but realize mentors are not cheerleaders – their entire purpose should be to cultivate your professional growth. You need to be ready to give your time and energy in order to get back the advice and assistance you need. Keith call this building up “Trust Equity” You should look for more than one mentor and they should not all be lawyers.· Also realize that you may fail initially from time to time and need to learn from those errors. No one comes out of law school ready to be an awesome lawyer.Keith’s advice is helpful and applicable for all lawyers, not just young lawyers or recent graduates. We encourage all of our listeners to follow Keith Lee on twitter at @associatesmind and read his blog AssociatesMind.com

Scott and Oscar talk about the current state of the legal market and various solutions offered by websites and pundits. But all the solutions reflect that this is not the same legal system and marketplace from 10 years ago. Many young lawyers are finding that they are being offered very low salaries and question whether they should take the job – is it the right thing to do? The hosts recommend biting the bullet and taking the job but also discuss that finding a way to generate your own business is still the best safeguard against a volatile marketplace. While the current law school glut is diminishing due to lower law school attendance, the hosts discuss that the effects of less lawyers entering in the marketplace is still years away. Therefore, it is incumbent on folks to do what they have to do to generate business. Even if young lawyers have to take an associate salary that is very low, the hosts recommend taking that position and using it as a springboard to developing your own book of business. Taking that job might make you more open to other arrangements – work for space, for example to learn a new area of law. The focus should not be on the salary at the beginning – it should be on learning an area of law that you can be productive in and develop business. Don’t just take any job, if you are at a low salary that opens you up to many more possibilities so have a plan – • Think about what kind of law you want to practice• Try to find a solo or small firm that does that work that can use your assistance• Think about a financial arrangement that you can strike with that firm to get your start in that field of law• Develop your own website using what’s best about your authentic self – doing anything else like using stock photos will not lead to business • Don’t worry about your pride, no one needs to know how much you are earning, and it can be as steppingstone as its better to be in the game at some level than not at all. • Recognize that you may have to try different ways to develop your practice and they may not work right away – be patient

This episode talks about steps solo or small firm practitioners can take to help build a steady stream of referrals. The hosts discuss the benefits of a referral-based practice which provides a base of clients who come to your practice already having been pre-screened and eager to be helped. The positive expectation of a referral client increases the likelihood that you will be retained by them.

Keys to building a referral client base are similar to building a valuable network:

· Always keep referrals on top of your networking and referral partners’ minds by mentioning it during networking opportunities· Provide value to your referral partners by keeping them in the loop about the case and thanking them promptly for the referral even if it does not pan out to a new client· Remind potential clients that since your business is referral-based it is important that you do a good job on their case so that the potential client will become a referring client.· Give referrals back to lawyers who refer you clients or if you can’t do that then find other ways to give value and make it a two-way street – take them out to lunch, send them an article related to their practice, tickets to a ballgame.While it can be time-consuming to devote so much time to building a referral-based practice, it is vital if you want to have a consistent flow of business and is well worth the time you put into it.

Elizabeth discusses the changing legal market place for recent law school grads and those out 10-15 years. Her position offers one-on-one counseling to assist alumni in reaching their career goals. Targeting the job search is important but networking remains the most powerful tool to make that connection that can build your practice. Elizabeth describes that while this a tough legal marketplace it is improving over the past year or so. Her office provides help with the basic tools – drafting a professional resume, building social media, looking at your connections. Many older attorneys who are practicing 10-15 years or more have trouble adapting the job search or their practice to the current marketplace. Elizabeth points out that using technology is not an option: you need to get involved with LinkedIn; have a good website; use social media. While all this technology is important, she reminds us that the basics are still important:• clean resume; • professional business card; • focused cover letters; • excellent writing samples Beth discusses specific pointers on all of these important matters to increase the likelihood they will stand out from the pack. Elizabeth discusses asking for an “Introductional Interview” – meeting someone who has the career path that you want. Research the person, learn about their practice then ask for a 15-20 minute meeting or even a phone call to ask questions about their practice, how they got there, and what steps you might take to get into that area. She reminds listeners of the many resources available to begin networking and suggests starting with your law school and then move onto Bar Associations almost all of which also have a small law firm resource center.The podcast concludes with a reminder that it is essential that you find a way to get into a frame of mind to make networking a priority: • volunteer to work an event at your law school; • arrange a meeting with an alumni advisor; • join a Bar Association committee. New York City Bar Association Small Firm Center: http://www.nycbar.org/small-law-firm-center/small-law-firm-center-overviewNew York State Bar Solo and Small Firm Resource Centerhttp://www.nysba.org/CustomTemplates/SectionLanding.aspx?id=34151 American Bar Association Solo and Small Firm Assistance http://www.americanbar.org/groups/leadership/office_of_the_president/legal_access_jobs_corps/lajc_resource_center/bar_committees.html

In this episode, Scott and Oscar talk about why lawyers need to keep a positive outlook and a high energy level particularly when meeting clients for the first time. Personal insights from Scott and Oscar along with specific pointers are discussed for how to develop the right attitude to bring in business and develop your practice. Key Points include -

1. Knowing you do good work and that you can provide value 2. Planning for the initial client meeting3. Associate with positive like-thinking people4. Remember law is flexible - you can learn and develop a new practice area if your old one is not producing enough revenue