Bryan Sims over at www.theconnectedlawyer.com sent me link to this piece from Law.com.
It’s about a small firm lawyer who brought small numbers of couples together for will-signing parties. Might this idea or a related concept be something you can use?
Build a Solo Practice, LLC had an interesting post recently regarding some 83% of NY lawyers being solo:
Just to keep things in perspective with all those HUGE first year associates salaries out there, today there was a report in the Wall Street Journal on Line reporting of a new article in
Crain’s New York Business which has a seven-page feature called “The Business of Law Report. In this article we learn that 83.5% of all lawyers in New York State are solos..
The report profiles three sole practitioners. “With first-year associates now commanding salaries of $160,000 at some major law firms, it might seem that every lawyer would be vying to work at one of them,” it says. “But in actuality, the vast majority — 83.5% — of lawyers in New York state are solo practitioners.” The three lawyers profiled: Judith Bass, 54, a former in-house lawyer at media companies who now structures media deals on her own; Anthony Park, a 30-year-old T&E lawyer who hung up his own shingle four years ago and has established a niche advising other young professionals on their personal affairs; and Allen Kaye, the high-profile immigration lawyer.
I have always said that law schools should teach students how to navigate down the road most travelled instead of catering to the minority. Read “Law School Learning Leaves Solos in Cold”
I wonder what the number is for Illinois? I’d guess that it’s a smidge higher just because we’re probably a slightly less urban state than NY. Are their needs being addressed?
I think some of the bar associations do a decent job for solos. I still think the business side of the practice of law isn’t covered very well by anyone. Law school helps potential solos through clinical programs I think. Frankly, in general, what’s the value of law school?
Here’s little nugget from Trey Ryder below…he has a good free e-mail newsletter if you’re not yet getting it.
The below got me to thinking about this subject. I’d guess most lawyers are like me and consider referrals absolutely critical to business development whether from clients or other professionals. However, I spend less time (likely to my detriment) thinking about how to proceed post-referral. I’ll always acknowledge referrals and likely will send a thank-you note and sometimes a gift card or something but my communication can be lacking….I can learn a lot from the following:
AFTER YOU RECEIVE A REFERRAL
STEP #11: Acknowledge every referral immediately in writing. Why do people send you a referral? Often, it’s because they think >highly of you and want their friend or client to receive the best you offer. Certainly, you could shoot off a quick email thanking the person for the referral. But that’s the easy way out. When someone sends you a client, take time to write a letter. (Yes, an honest-to-goodness letter — on stationery, no less!) Thank them for having confidence in you and assure them that you will do everything you can to help the person they referred.
STEP #12: Keep your referral source informed about your client’s progress. Send an occasional note or email to keep the referrer up to date. This reinforces that you’re working hard on the client’s behalf. Don’t let your referral source lapse into guessing what might have happened with the client. Guesses — based on lack of >communication — usually result in negative conclusions. Instead, keep your referral source on top of what’s happening. He’ll be so happy that you keep him informed that he will look for someone else to refer to you. When the case ends, make sure you send a summary letter explaining how you resolved the matter.
STEP #13: Help your referral source earn money. When appropriate, build your referral source into the process. If a CPA referred a client to you, help the CPA get added work from the client. If a life insurance agent sends you a client, point out to the client when it’s appropriate for him to increase his life insurance. Your credibility goes a long way. If you can help the referral source get business from the person he referred, that’s one more reason for your friend to refer another client.
STEP #14: Return referrals, when possible. No question, it’s nice when you can return a referral. But today, with such high levels of legal specialization, referrals are often a one-way street. Return referrals when you can. If you can’t, make sure you reciprocate in another way.
STEP #15: Pay referral fees. Money speaks with a loud voice. Make sure you abide by your Bar rules.
Summary: You build a solid referral base the same way you build a productive client base: With ongoing communication centered around your knowledge, skill, judgment and experience. When referral sources perceive you as an authority in your field, they are quick to send to you their friends and clients.
© 2012 Solo In Chicago…Grow Your Practice! All Rights Reserved.
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