In this blog, we provide important insights into what it means to be a Growth Starter and how this stage fits into the four stages of law firm growth.

It’s easy to get caught up in the day-to-day hustle of running a contingency fee law firm. Your attention is likely focused on acquiring and litigating cases, managing clients and cases, collecting fees, and attaining settlements – tasks that aren’t exactly easy to pivot between. But understanding what stage of growth your firm is in can make all the difference when it comes to balancing the daily grind and planning for long-term success.

Find out where your law firm stands in its growth journey. Click below to take the growth assessment.

This quick 5-minute assessment can help you confirm exactly where your law firm stands in its growth journey, and help you focus on the right strategies and priorities for moving forward. Knowing where you’re at is essential to mapping where you’re going.

Are you an emerging law firm? If so, welcome to the Growth Starter phase.

If your growth assessment puts you in a different phase, please visit your relevant blog below:

Read Is your law firm a Growth Improver?
Read Is your law firm a Growth Leader?
Read Is your law firm a Growth Optimizer?

Or read our comprehensive blog: “The Four Growth Stages of a Contingency Fee Law Firm”.

What Does It Mean to Be a Growth Starter?

As a Growth Starter, your law firm is in its infancy. You’re laser-focused on building a steady stream of cases and generating revenue to sustain your operations. While growth is the goal, your firm’s business may lack the mature functions and systems that come with a more established firm, such as dedicated departments for marketing, IT, or finance.

Here are some key characteristics of the Growth Starter phase:

• Newly-founded firm: Focused on case acquisition and revenue generation.
• Low overhead costs: Departments like marketing, IT, and finance aren’t fully developed yet.
• Limited resources: Most resources are funneled into acquiring cases and managing the day-to-day.

Tips and Strategies for Growth Starters

To succeed in this stage, you’ll need to focus on key areas that will help you scale efficiently and set your law firm up for long-term success.

• Prioritize case volume: Your primary goal is to build up your case inventory. Use cost-effective methods like automated digital  marketing and client referrals to generate leads.
• Maximize client conversion: Invest in a solid intake process that quickly qualifies leads and turns them into clients. Hiring the right staff to handle consultations is crucial.
• Keep costs low: Avoid unnecessary expenditures. Focus on reinvesting profits into the business to fund future growth initiatives.
• Prepare for future investment: As your firm starts generating steady revenue, begin planning how you’ll invest in key functions like marketing, IT, and finance. These areas will become crucial as you scale.

Always On: Building a Foundation for Long-Term Growth

As a Growth Starter, being always on means using cost-effective strategies to build case volume while laying the groundwork for long-term success. Focus on employing digital advertising campaigns, leveraging client referrals, and acquiring business from partner firms to steadily grow your case inventory.

At the same time, keep a close eye on your operations—streamlining client intake, controlling costs, and planning for future infrastructure investments—to ensure your firm is always ready for the next phase of growth.

Choosing the Right Financial Partner for a Growth Starter

As a Growth Starter, you’re managing your law firm on limited resources, and every dollar counts. Having access to the right financial partner at this stage can help you take on more cases, grow your client base, and invest in the right areas when the time is right. Esquire Bank specializes in allying with law firms like yours to provide tailored financing solutions like case cost financing and working capital lines of credit.

This can help you:

• Cover case-related expenses without depleting your cash reserves.
• Free up capital to invest in key business areas like marketing, IT, and staff as you prepare for growth.
• Scale your firm efficiently by ensuring you have the resources needed to take on bigger cases.

With Esquire Bank’s expertise, your firm can secure the capital it needs to grow steadily and successfully.

Bottom Line:

Ready to take the next step in your growth journey?

Click below to download our free eBook “ Scaling for Success: The Contingency Fee Law Firm Playbook for Strategic Growth” to learn law firm growth strategies and insights.

Meet with Esquire Bank

Learn how your law firm can leverage case cost financing to free up capital that can be invested in scaling law firm growth. Schedule a consultation with an Esquire Bank law firm banking expert at a time convenient to your schedule.

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* The information provided on (or accessed through) this blog is provided for general informational purposes only and is not intended as, and should not be relied on for, law firm operations, tax, legal or accounting advice. Some of the information may not be applicable or appropriate for all law firms. Please consult your own tax, legal and accounting advisors as appropriate. Results may vary by law firm.