I am the solo owner of a two attorney firm in Atlanta. I have been in practice for thirteen years. I have one associates that has been with me for one year, one full-time paralegal, and two part time assistants. I have a general practice. Revenues have stagnated and I need to identify strategies for getting to the next level. My practice is struggling. I have been thinking about narrowing my practice and focusing on five or six practice areas. I am ready to invest in marketing. I would appreciate your thoughts.
This is the age of specialization – less often results in more. Many attorneys in small general practice firms are afraid to specialize and focus on three or less – even one – area of practice. The concern is that by specializing there simply will not be enough business of keep the attorneys busy generating sufficient revenues.
I have worked with several firms that have shifted their practices from general practices to practices limited to estate planning and elder law and they have performed far better as specialized practices than they did as general practices. I suggest that you consider focusing your practice on on no more than 2-3 key practice areas in which you can differentiate yourself.
Here are a few thoughts:
John W. Olmstead, MBA, Ph.D, CMC
I am the owner of a five attorney firm in Austin, Texas. My accounting/office manager has just advised me that she is resigning her position as a result of her husband's job being relocated to another city on the west coast. She is the best employee that I have had the pleasure of working with and I am not sure where to start regarding finding her replacement. She will be hard to replace – – not just her skills – but her manner, relationship with me and other members in the firm, clients, etc. She is truly a class act. I would appreciate any thoughts that you may have.
Maybe you don't have to lose her. Why not consider a remote/virtual arrangement. I know – it sounds crazy but I have several law firm clients that were in similar situations and decided rather that lose a key employee to have them work remotely.
The first situation occurred several years ago in Chicago. The firm was going to lose a key paralegal that had been with the firm for fifteen years when her husband was relocated to Washington state. The firm was already paperless and had an excellent computer system that facilitated remote communication. The missing link was the telephone system and how to handle client calls coming in for the paralegal. The firm installed a VOIP phone system that could seamlessly transfer a call as if the paralegal were down the hall. An office was setup in the paralegal's home in Washington state, procedures and protocols put in place, and other practices such as joining her in via Skype on the weekly firm meetings. The arrangement has worked out exceptionally well for five years.
The second situation occurred six months ago in Chicago. The firms accounting manager's husband was transferred to Florida and she tendered her resignation. The owner asked me to help him find a replacement and I asked what he thought about a remote arrangement. We discussed how the various accounting tasks would be handled and coordinated remotely from running pre-bills, making bank deposits, recording client payments, billing, paying bills vendor bills, etc. and he decided to give it a try. A virtual private network was installed, her home office was outfitted, and procedures, protocols, and checks and balances put in place. The arrangement has worked out well. Four months after the arrangement was implemented the firm merged with another firm and now has two office locations and the accounting manager is effectively handling the billing and accounting for both offices from her Miami Florida remote location. The owner is very happy with the arrangement.
So, before you accept her resignation and begin looking for a replacement – you might want to consider a remote/virtual arrangement.
John W. Olmstead, MBA, Ph.D, CMC