Substitute “disruption” for “crisis.” Yes, the legal profession is feeling the same winds of change that have transformed so many other businesses in recent years. And yes, the law is probably the slowest sector when it comes to change. But change is here, now, and you can transform your practice into a powerhouse by being an early adapter.
Push back on fee structures. This is certainly not new to law firms, but it is intensifying. If someone can go online and get a will from an online legal system, you’ll have to demonstrate real value to compete. Most of this comes through client education, to make sure that clients understand the value of having an experienced lawyer who knows the law in their state and can plan for their specific needs. Best way for you to undertake client education? Automate your marketing processes.
Convenience factor. Could you take a client through your entire process without ever meeting face-to-face? Before you say no, consider your options. If your intake process is automated using our CLIPSM system, you will be able to get pretty far along without an in-person meeting. Do you currently offer video conferencing, via Skype, GoToMeeting or FaceTime? No, it’s not our first choice for you either, but if you have a client and they can’t get to you, and if you can’t get to them, it’s worth considering.
Competition for jobs is one bright spot. Law schools are graduating many students, most with crushing debt. Regardless of the challenges of hiring and managing millennials and Gen Xers, you should be able to pick and choose from among a wide group of talented and ambitious young attorneys. Remember: every associate should be a profit center.
Another bright spot: Boomer retirement. Every single day, upwards of 10,000 baby boomers are turning 65.They are ripe for estate plans, wills and everything you do. The numbers are there, BUT you have to go after them. That means ramping up your marketing. IMS has an amazing selection of marketing tools, from websites that work to our E2-CRM to CLIPSM.
Things are changing, but the opportunities have never been better. Call James Campbell at 877-352-2021 x 80 and we’ll show you how you can survive and thrive.
Better to be a disruptor than be disrupted!