This week, Inc. 5000 published its 2015 list of fastest growing companies in America, and How To MANAGE a Small Law Firm was number 1,087, growing 400% in the past 3 years (click here to see our Inc. 5000 profile).
Contrary to what you might think, it isn’t very hard to grow your firm so aggressively year after year. All you have to do is pay close attention to the seven parts of your business:
- Marketing: How you get your ideal, prospective client to come to your door.
- Sales: The process you use to convert that prospect into a paying client.
- Production: What kinds of policies, systems, and procedures will your firm need so it runs they way you want it to run?
- Physical Plant: The tools/resources/office space/software/equipment your firm is going to need. How will these things change as your firm grows and evolves?
- Financial Controls & Metrics: Your pricing model. Your law firm’s weekly, monthly, and annual budgets and cash flow projections. KNOWING YOUR NUMBERS!
- People: Define the roles required for your firm to operate smoothly. If you’re just starting to build your firm, it’s important to recognize that you may be doing all of these jobs now, but you must define when it is going to become necessary for you to hire, manage, and train a staff to hand-off these jobs to.
- You: You are the most important part of your law firm. What is your message and why is it important to you? What are your personal, professional, and financial goals? What is life going to be like when you feel that you’ve accomplished these goals?
That’s it – the secret to our success, and the success of hundreds of our Members, is learning to manage those 7 parts.
We grew 400% in the past 3 years. Many of our Members have grown exponentially every year. You can do it too.
We are the leading, largest, biggest and best provider of outside Chief Executive Officer (CEO), Chief Operating Officer (COO) and Chief Financial Officer (CFO) services exclusively for the solo and small law firm (single-shareholder) market.
We can help you manage The 7 Parts of Your Business, so that your firm can grow as much as ours has. It won’t be hard, but it isn’t easy either, and it will take a heck of a lot of work.