From $20k to $200k a Month in 12 Months: A Step-by-Step Guide for Rapidly Scaling Up a Law Practice
06/02/22 • 83 min
**Episode 61: From $20k to $200k a Month in 12 Months: A Step-by-Step Guide for Rapidly Scaling Up a Law Practice”
In this episode, we interview Brandon Potter and Robert Foster who are Unbundled Attorneys in Knoxville and Greenville, TN. During our interview, Brandon and Robert share how they were able to successfully scale up their law practice revenue from $20k a month to over $200k a month in a single year. During this period, they opened two new offices, hired 5+ new lawyers, added 2 new administrative staff, and have recently opened their third office in Nashville, TN. This is a step-by-step, in-depth walk-through for how lawyers can take their practice from where it’s at to the next level and beyond.
Click here to watch the video version of this podcast interview on our YouTube Channel
In this episode, you’ll learn:
- The four key components that enable their team to effectively enroll clients virtually without having to meet clients in person
- The value from thinking of a law practice like a factory, and setting up systems to process “raw materials” through your firm in the most efficient way possible
- Who is the first and most important hire that firms should make when they are scaling up their practice?
- Importance of creating roles and responsibilities (“lanes”) for each team member in the firm, and why they should stay focused on their key roles
- Why having systems in place to process, manage, and track all payments, plus knowing the critical role firm finances play in sustaining the growth of your firm
- Why do Brandon or a partner in the firm continue to call and convert each of their Unbundled leads, and why they do NOT delegate this responsibility to anyone else
- Who are the three most important people a firm needs to have in place when scaling up from a solo practitioner to a small firm?
- How to generate a consistent source of qualified attorneys to bring into your firm
- The most important considerations when making hiring decisions for associate attorneys
- The value of hiring team members who have complementary skills and personality types to share different types of tasks and responsibilities
- How gaining access to financing and capital investment resources significantly increases the speed that your firm can scale and grow
- How to structure payment plans to ensure your clients consistently make their payments, and what are the payment processing systems that make this possible
- How Brandon and Robert can provide services to 80% of their clients who would otherwise be unable to afford a lawyer
- The value of taking time to implement a document automation system that creates legal documents in a faster and more efficient manner
- How to cultivate a great company culture that motivates each of your team members to sincerely want to be a key part of your firm
- And much more ...
Resources Mentioned:
If you enjoy this podcast, please head over to iTunes, subscribe to the show, and leave us a review. We love hearing from our listeners and look forward to reading your feedback!
For more information about Unbundled Attorney and how our exclusive, unbundled leads can help grow your practice, visit:
**Episode 61: From $20k to $200k a Month in 12 Months: A Step-by-Step Guide for Rapidly Scaling Up a Law Practice”
In this episode, we interview Brandon Potter and Robert Foster who are Unbundled Attorneys in Knoxville and Greenville, TN. During our interview, Brandon and Robert share how they were able to successfully scale up their law practice revenue from $20k a month to over $200k a month in a single year. During this period, they opened two new offices, hired 5+ new lawyers, added 2 new administrative staff, and have recently opened their third office in Nashville, TN. This is a step-by-step, in-depth walk-through for how lawyers can take their practice from where it’s at to the next level and beyond.
Click here to watch the video version of this podcast interview on our YouTube Channel
In this episode, you’ll learn:
- The four key components that enable their team to effectively enroll clients virtually without having to meet clients in person
- The value from thinking of a law practice like a factory, and setting up systems to process “raw materials” through your firm in the most efficient way possible
- Who is the first and most important hire that firms should make when they are scaling up their practice?
- Importance of creating roles and responsibilities (“lanes”) for each team member in the firm, and why they should stay focused on their key roles
- Why having systems in place to process, manage, and track all payments, plus knowing the critical role firm finances play in sustaining the growth of your firm
- Why do Brandon or a partner in the firm continue to call and convert each of their Unbundled leads, and why they do NOT delegate this responsibility to anyone else
- Who are the three most important people a firm needs to have in place when scaling up from a solo practitioner to a small firm?
- How to generate a consistent source of qualified attorneys to bring into your firm
- The most important considerations when making hiring decisions for associate attorneys
- The value of hiring team members who have complementary skills and personality types to share different types of tasks and responsibilities
- How gaining access to financing and capital investment resources significantly increases the speed that your firm can scale and grow
- How to structure payment plans to ensure your clients consistently make their payments, and what are the payment processing systems that make this possible
- How Brandon and Robert can provide services to 80% of their clients who would otherwise be unable to afford a lawyer
- The value of taking time to implement a document automation system that creates legal documents in a faster and more efficient manner
- How to cultivate a great company culture that motivates each of your team members to sincerely want to be a key part of your firm
- And much more ...
Resources Mentioned:
If you enjoy this podcast, please head over to iTunes, subscribe to the show, and leave us a review. We love hearing from our listeners and look forward to reading your feedback!
For more information about Unbundled Attorney and how our exclusive, unbundled leads can help grow your practice, visit:
Previous Episode
Family and Criminal Lawyers: How to Triple New Client Retention and Boost Your Profits Overnight
**Episode 61: Family and Criminal Lawyers: How to Triple New Client Retention and Law Firm Profits Overnight”
In this episode we interview Aaron Harshman and Rachelle Ponist. They are a married couple and Unbundled Attorneys who work out of Indianapolis, and each of them run their own criminal and family law practices respectively. During our interview, we discuss how they structure affordable service options in their practice areas, and how their model can help you substantially improve client retention and overall profitability for your firm. They provide examples of limited scope services they provide for family law, and how their clients and practices benefit. Aaron breaks down a creative payment approach in criminal representation that enables him to triple client retention and bank increased revenues and profits for his firm.
Click here to watch the video version of this podcast interview on our YouTube Channel
In this episode, you’ll learn:
- Critical differences between family law and criminal clients, and how to adapt your consultation and enrollment approach for each practice area
- Phone vs. Zoom vs. In-Person meetings, and which approach works best for each practice area
- Examples of limited scope services you can provide for family law clients
- A step-by-step walkthrough of the best practices for enrolling family law clients on the phone and in-person consultation
- The advantages of enrolling family law clients initially for a limited scope service only, and then allowing those relationships to evolve over time
- The value of implementing document automation software to increase your efficiency and profitability, especially for flat-rate services
- How to provide affordable criminal representation outside of providing limited scope service options (40:00)
- How payment processors like Lawpay provide automated recurring billing features to enable lawyers to offer more flexible payment terms (45:05-49:50)
- Creative payment structures for criminal law that differentiate your firm and substantially improve your client retention rates
- Best practices for an initial consultation in criminal cases that maximize client conversion, and why these strategies differ from family law (56:54)
- The importance of understanding the urgency and critical nature of criminal case issues, and how this informs the way to approach those consultations
- How to determine how much to charge as an initial deposit, and how to structure payment plans
- The financial benefits of how creative payment options improve client conversion and increase revenues and profitability for the firm
- The gap in the marketplace between high-net-worth individuals, and those who qualify for legal aid, and the financial opportunity this represents for lawyers who can profitably deliver legal services to the middle majority sector of the marketplace
Resources Mentioned:
If you enjoy this podcast, please head over to iTunes, subscribe to the show, and leave us a review. We love hearing from our listeners and look forward to reading your feedback!
For more information about Unbundled Attorney and how our exclusive, unbundled leads can help grow your practice, visit: https://www.unbundledattorney.com
Next Episode
Criminal Representation on a Payment Plan: How Automated Recurring Payments Are Transforming the Way Criminal Lawyers Get Paid and Practice Law
Episode 65: Criminal Representation on a Payment Plan: How Automated Recurring Payments Are Transforming the Way Criminal Lawyers Get Paid and Practice Law
In this episode, we interview Joshua London, a criminal law Unbundled Attorney from Minneapolis, MN who shares how offering automated recurring payment plans have impacted the way he practices criminal law. He discusses how automating his payment plans has enabled him to lower his initial deposits to as little as 20-25%, which has dramatically increased his lead to retained client conversion rate. As a result, he has been able to provide affordable criminal representation to many more clients, and is already generating an additional $30-40k a month in revenue from his Unbundled leads alone.
Click here to watch the video version of this podcast interview on our YouTube Channel
In this episode, you’ll learn:
- Why optimizing your criminal firm to be immediately responsive to new leads and requests will substantially increase your client conversion rate
- What automated recurring billing payment plans are, and why they can enable you to accept less than 50% down in a criminal case
- How to structure your recurring payment plans so they have a high rate of processing successfully
- How to determine the ideal initial deposit in each case, and the best payment schedule and payment amount for each payment plan
- The being transparent cultivating an empathetic approach to your consultations will help you convert more clients and create more customer loyalty
- And much more ...
Resources Mentioned:
If you enjoy this podcast, please head over to iTunes, subscribe to the show, and leave us a review. We love hearing from our listeners and look forward to reading your feedback!
For more information about Unbundled Attorney and how our exclusive, unbundled leads can help grow your practice, visit: https://www.unbundledattorney.com
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