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:
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