Most lawyers in the legal profession concentrate intensely on their locale. They frequently hesitate to increase their workforce because doing so would result in higher expenses. They overlook the fact that a carefully curated team can multiply the effectiveness and income of their practices.
Even though it appears paradoxical, growing your team can increase your revenue if you choose the right hires. They can take the responsibilities off your plate that you want to concentrate on or just need more time for. You can position yourself for success by managing your funds and developing a marketing strategy.
Marc Whitehead is a lawyer with double-board certification and focuses on disability cases. His practice has more than 50 staff and continues to expand. He spent the first half of his career representing clients in personal injury trials, including those involving slip-and-fall accidents, car accidents, and other similar scenarios. About halfway through his 30-year career, Marc started switching to Social Security disability cases and learned he could schedule his days, months, and even vacations rather than being a prisoner to his trial schedule.
As his practice grew, Marc realized that “intake” was just another word for sales. Knowing that investing in his firm was a central part of his success, he dedicated ten staff members to handling client leads. One of the parameters he uses for hiring staff is whether or not they’ll bring in three times the revenue he pays them. His intake team turned out to be worth its weight in gold.
Yet another unique strategy he implemented to manage volume in his practice is hiring offshore employees. Marc found that his attorneys and paralegals were spending time on the phone on hold with local Social Security field offices. It wasn’t a productive use of their time; these were college-educated, well-paid professionals. He and his team used some out-of-the-box thinking to determine that maybe they could hire offshore employees to sit on the phone on hold, and when a representative answered, a legal professional could take over the call. That small change in the process saved the practice many hours of work and led to quality team members who could be promoted and further contribute to the business.
Marc’s willingness to try new things, take risks, and invest in his firm are just part of the reason his business has grown six times over the past few years.
This podcast episode is part two of Steve and Marc Whitehead’s discussion of how to grow a firm six times in just five years. Marc reveals more tactics for expanding his practice, boosting sales, and regaining control over his time.
If you want to learn more about the secrets of 6x growth, check out https://atticusadvantage.com/episode013