The number one struggle reported by attorneys is the lack of a work-life balance. Whether an attorney is pulling long hours out of necessity, trying to meet their firm’s billing hour requirements, or simply because they enjoy their work, overworking isn’t helpful or healthy. On the contrary, there are numerous studies that show an increased in work hours doesn’t mean an increase in productivity or even profitability.
For many attorneys marketing is seen as a necessary evil. Popular or not, strategic marketing is crucial to the success of any business. It is a key tool in establishing your business’ identity within your community. It helps maximize revenue potential by generating new leads. Marketing also builds trust, converts leads to clients, and helps establish fruitful, lifelong relationships.
There are many reasons an estate planning attorney should consider expanding their legal practice to include business planning. According to the Census Bureau, there were 32 million businesses owners in the US last year. So, chances are that you probably already have clients who have business planning needs. Additionally, since many business owners are still reeling from the changes brought on by the Tax Cuts and Jobs Act, they'll be looking to legal professionals for advice on redeveloping their business planning strategies.