Four Continuous Challenges for Small Law Firms

Starting up a law firm anywhere in the United States is a challenge. The one good thing about working as a lawyer in Colorado Springs is knowing that you are part of a wonderful community. Lawyers in the area always look out for each other. Firms are very helpful and cooperative. And you will never have issues finding new clients, given how many people are moving to the area every year.

But there are four issues that you will need to handle as a small law firm in the Colorado Springs area:

  1. Delegation

It is so difficult to admit that you cannot do everything. It is one thing to hand off a case to another lawyer at the firm. But delegating tasks to your paralegals can be a lot harder. You feel it is your responsibility to handle every aspect of the case. But without the proper delegation, it can be a huge challenge to help all your clients efficiently.

It is the balance that every lawyer must strike. Are you willing to have your clients miss out on the timely assistance they need because you are so determined to do everything on your own? You must learn when and how to delegate or your firm will struggle to survive.

  1. Pricing Structure

It can be a huge challenge to decide the method of payment you will seek from clients. Some firms have a specific structure, where they either use an hourly rate or a fixed fee. Or you could have it alternate based on the type of case that you are handling. It is best to figure it out, because it can cost you time and money.

You do not want to spend too long pondering the pay structure when you are about to represent a new client. The issue with flat fees is that you could end up with a lower hourly amount. But flat fees can help you gain new clients, because they are feel more assured knowing you are at their service for a specific price.

  1. Managing Time

This one is directly related to the first point. When you fail to delegate, managing your time is harder. But even if you are delegating, time management is a huge issue for lawyers. How much time can you afford to spend preparing for each case? How many hours must you dedicate to one-on-one client meetings each work day? It can be hard to juggle so many moving balls at the same time, especially when you cannot afford to let any of them drop.

  1. How to Say No

Sometimes the best thing that you can do for a client is to say no. Perhaps you know that you are not the best fit for their case. Or maybe you do not have the time in the coming months. Even if it is a client you know personally, saying no is better than saying yes and then doing a poor job representing them. Explain to the client that you have a reason for saying no. Give them information on other good options. Call those lawyers and say they should expect that client to come through their doors.

If you can face up to the above four challenges, you will have a very successful law firm in the Colorado Springs area.