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Essential nutrients to support starting and growing your practice
Starting or growing a small law practice can be both stressful and challenging, not due to its inherent complexity, rather because of the relentless demands that come with being a business owner. Solicitors are typically not trained to start or operate a business. Managing administration, marketing, technology, employees, and clients — all while wearing multiple hats — can leave you feeling not knowing where to start and stretched thin.
Achieving growth, whether in law or any other field, requires nourishing it with the right ingredients. As Australia’s largest group of independent solicitors, we’ve worked with many legal practitioners looking to start out on their own or grow into a larger practice. Here are four essential nutrients your practice needs to spring to life.
Nutrient 1 – Flexibility
Flexibility is paramount when building your practice. The foundation of strong practice roots is a space where you can expand or constrict when required. Securing a space that upholds your professionalism without locking you into lengthy contracts with unscrupulous terms like 6-month security deposits or no fit-out options. This forms the foundation of flexibility.
Nutrient 2 – Community
Law practices thrive on referrals. 84% of small firms rely heavily on referrals, while 82% acquire new clients through word-of-mouth recommendations.1 Nurturing your professional community is pivotal for practice growth. When you're just starting, this can be challenging.
The fastest way to grow your community is to join one. A workspace with a robust legal community can be a jackpot, creating a referral network where one lawyer's commercial client can become another lawyer's litigant.
Remember, prioritise an office space that suits your legal needs and business aspirations. Is the address reputable and will it impress your clients? Is it located near the legal precinct? What if you need to relocate? Is it adaptable to your growth? Can you grow from a virtual space to a physical office? Do you need access to interstate offices?
Nutrient 3 – Reputation
Your reputation is the linchpin for attracting clients and talent. It largely hinges on delivering exceptional customer experiences to generate positive word-of-mouth referrals.
Exceptional customer experiences stem from every interaction a client has with your brand, from the first phone call to the final handshake. Consider having a receptionist to handle calls, maintain a business address expected of a legal practice, and create an office environment that reflects positively on your brand. Are there appropriate meeting spaces for private discussions and sensitive matters or arbitration? Is there someone there to greet your clients when they arrive, professionally?
Nutrient 4 – Onsite Support
Whether moving from a larger practice with established IT and support services, to starting small without exposure to the business, infrastructure and administration requirements needed of a small practice, without knowing where to start or what you need is daunting.
Look for a workspace provider that has all these services in-house, so that you can access support when you need it and scale your practice effectively and efficiently over time. A good workspace will provide administrative support and IT services. A great workspace will specialise in law firm IT infrastructure, provide onsite technicians, paralegal and marketing support, and have embedded programs and partnerships in memberships, that allow you to access a comprehensive suite of solutions and services tailored to practice growth.
Find the nutrients at the Workspace for Lawyers
Spring into Australia’s preferred workspace provider for legal professionals this October!
Start and grow your practice with Clarence, the only serviced office and co-working provider focusing on the legal sector.
During the month of October, reserve a complimentary office suite for use at our locations across Melbourne, Brisbane and Sydney.*
Not ready for an office space? Get 2 months free on any Clarence month-to-month virtual membership!*
Click here to reserve your complimentary office suite.
Click here to join Clarence with a virtual membership.
Use code SPRING at check out.
1https://www.smokeball.com.au/blog/2022-smokeball-state-of-small-law-australia-survey
*Terms and conditions apply. Visit cpogroup.com.au/spring for more.
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