As part of the Maryland State Bar Association's Wednesday Webinar series, Clio is happy to discuss different growth strategies to help law firms.

1. Growth Strategies
for Law Firms
Joshua Lenon
Lawyer in Residence
Clio

2. Law Firm Growth Plans!
• You’re losing business because you can’t
keep up with demand
• You need/want to focus on certain
aspects of your business rather than
struggling to juggle everything
How to know when to hire your first employee!
by Charlene Jimenez in Business Entrepreneur -
February 21, 2012 !

3. Law Firm Growth Plans!

4. Law Firm Growth Plans!
Adding Employees
• Paralegals median pay was $46,680 per
year.
• Legal secretaries median pay was $42,460
per year.
• Beginning associate median pay was
$61,245 per year.
Billings – [Total Compensation +
Direct and Indirect Expenses] = Net Profit.
Photo by Cornerstone Signature on Flickr!

5. Law Firm Growth Plans!
‘Yes%%&%
Permanent%
Change%
2009%
Response%
2013%
Response%
Change%in%%% Magnitude%
Increase%
More%
Commodi*zed%
Work%
25.5%% 88.6% +63.1% 3.5x%
More%
Contract%
Lawyers%
28.3%% 71.5% +43.2% 2.5x%
Outsourcing%
Legal%Work%
11.5%% 50.7%% +39.2% 4.4x%

6. Growth Strategies
• Clients
• Staff
• Attorneys
• Productivity

7. GROWING CLIENTS

8. Growing Clients
Client Base Client Commitment

9. Word of Mouth
57% of C-Level Executives hire
law firms on the basis of a
single, unprompted, peer
recommendation
Source: BTI Consulting Group!

10. Clients Don’t Want Lowest Price
• Transparent pricing: We want to
understand how/why the price is set and
have the opportunity to discuss changes -
36.4%
• Lowest pricing: We want the lowest price
available - 9.6%
Source:Altman Weil 14th annual Chief Legal Officer Survey!

11. Listening to Clients = Revenue
• Only 58% of law firms conduct client
feedback.
• Firms acting on feedback generate 2.7
times more:
– revenue generation
– client retention
– year-over-year growth.
Source: BTI Consulting Group,“Firms Acting on Client Feedback
Perform 2.7 Times Better Than All Others,” 03/12/2014!

12. Listening to Clients = Revenue
Law firms whose clients see them as being
best in client service enjoy:
• 30% higher profitability
• 7% rate premiums across all staff levels
• 35% higher client retention
Source: BTI Consulting Group,“Client Service Leaders Boxing Out the
Competition,” 02/27/2013!

13. GROWING STAFF

14. Why Outsource Your
Receptionist

15. JODI ANN DONATO,
ESQ., LLC
“I can honestly say it was THE
BEST business decision I have
made in the last 10 years. Ruby
has helped me capture new
business that I would have
otherwise missed out on
because I could no longer ‘do it
all’ myself.”
Jodi
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
Grow

16. GROWING ASSOCIATES

17. Outsourced Attorneys
Contract Attorneys
• Appearances
• Research
• Due Diligence
Image: GracesCases.com!

18. GROWING PRODUCTIVITY

19. Productivity Rules!
1 Right Tool for the Job
2 Never Type Twice
3 Right Person for the Job
Photo by zzpza on Flickr!

20. Right Tool for the Job!
Photo by zzpza on Flickr!

21. Right Tool for the Job!
= extra1.7 hours
daily!
Photo by Shehan Peruma on Flickr!

22. Never Type Twice!
Photo by Sasa Mutic on Flickr!

23. Right Person for the Job!
• Assign & Track Tasks
• Let Clients Contribute
• Focus on Your Necessary Tasks
Photo by Ben McLeod on Flickr!

24. QUESTIONS
#ClioWeb

25. Thank You
Joshua Lenon
joshua@goclio.com
@JoshuaLenon
Linkedin.com/in/joshualenon