Using the 80/20 Rule to Transform Your Estate Planning Law Firm Into Your Dream Practice

Aug 14, 2017 10:55:05 AM

Learn more about using the 80/20 rule to boost the success of your estate planning law firm.

You know about the 80/20 rule, or the Pareto Principle, but do you know how to leverage it to the benefit of your law firm? The majority of attorneys will say no. If you’re one of them, make a change today to boost your success and profitability.

Find and Focus on the Right Clients

As an attorney, it’s common for 20 percent of your clients to make up 80 percent of your revenue. True to the nature of the 80/20 rule, you must focus on the 20 percent of people responsible for the majority of your profitability. The secret lies in finding and focusing on your top clients.

Here’s how:

  • Identify your top clients.
  • Market to the right people.
  • Accommodate their needs.

Once you secure the business of clients in your top 20 percent, enjoy the 80 percent of revenue they bring in.

Eliminate Time Wasters

Another way to live by the 80/20 rule is to eliminate the 20 percent of constraints that are wasting 80 percent of your time at the office. We often overlook small time wasters because they are just that–small. Yet a dozen tiny constraints add up to a lot of wasted time. Identify small inefficiencies around your office, such as software that doesn’t respond as quickly as desired. Solve these issues to save more time while you work.

Wealth DocX® is estate-planning attorney software with saving time in mind. It works with you, intuitively predicting your needs and responding with the right solution. With Wealth DocX, you chip away at the 20 percent of problems that waste 80 percent of your day. Eliminate typos, document drafting inconsistencies, slow download speeds, lengthy interviews, and more. Discover all the benefits of this incredible solution at WealthCounsel.com.

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