In Part 1 of our two-part blog series on best practices for growing your plaintiffs law firm, we discuss the importance of leading by example, nurturing a rewarding culture, and accessing capital to fuel growth.

Growing your plaintiffs law firm isn’t just about practicing law and winning cases. It requires strong leadership, core values and a rewarding culture, smart investments, and dedication. As a law firm owner, you’re “always on” to handle the day-to-day. But what should you prioritize to avoid burning out?

In The Lawyer as CEO, bestselling author, Reza Torkzadeh, founder and CEO of TorkLaw, shares insights on how he transformed TorkLaw into a thriving business. In a series of talks with Esquire Bank founder Ari Kornhaber, EVP & Head of Corporate Development, Reza also offers effective strategies you can use.

Let’s explore best practices 1-3 that helped TorkLaw experience exponential growth and bold success.

1. Establish Top-down Leadership and Radical Accountability

At the core of any successful law firm is strong, transparent leadership. Reza emphasizes the need for radical accountability from the top down. As a leader, you set the tone by owning and addressing both successes and challenges within your law firm. This approach fosters a culture of responsibility and accountability, empowering your team to strive for excellence.

Reza notes that a major turning point at TorkLaw occurred when he realized leadership meant shouldering failures as much as successes. By shifting from blaming others to taking full accountability, he found solutions to long-standing issues and moved his law firm forward.

Interested in effective leadership and building an engaging environment? Watch Reza discuss these topics in our video blog “Top-Down Law Firm Leadership: Building an Engaging Environment”.

2. Build the Right Team and Cultivate Culture

Your law firm’s success is deeply connected to your people and culture. Reza highlights the importance of finding and nurturing the right team members who align with your firm’s core values and vision. It’s not just about hiring skilled professionals; it’s about assembling a team that truly represents the ethos of your law firm.

Cultivating such a team can be challenging. Anecdotally, Reza recalls a pivotal moment when he offered his entire firm a three-month severance to leave if they didn’t align with his vision. This bold move resulted in losing half the staff in one day, which caused significant disruption. Ultimately, however, these events led to a stronger, more cohesive team culture.

See how Reza’s firm recovered stronger after a staff reckoning, and how the remaining core employees have built a consistent culture in our video blog “Effective Law Firm Leadership: Building Growth with Vision and Culture”.

3. Gain Access to Capital and Implement Financial Strategy

Managing irregular cash flow and accessing sufficient capital are major hurdles, especially if your firm operates on contingency fees. Reza points out that capital is fundamental for handling cases properly, investing in marketing, and scaling operations.

Partnering with a financial institution that understands the unique business needs of contingency fee law firms is crucial. Reza’s collaboration with Esquire Bank provided the flexible, financing solutions needed to double TorkLaw’s year-over-year case inventory and triple his staff.

Without access to capital, TorkLaw couldn’t take on larger cases or grow effectively.

Learn how capital can fuel growth for plaintiffs law firms in our video blog “Fueling Growth: The Power of Capital for Plaintiffs Law Firms”, or explore our video blog “The ROI of Financing Case Acquisition for Plaintiffs Law Firms”.

Looking for more best practices for growing your law firm?

Read “Part 2: 7 Best Practices for Growing Your Plaintiffs Law Firm”.

Ready to change your law firm’s growth trajectory?

Click below to download Esquire Bank’s free eBook “Scaling for Success: The Contingency Fee Law Firm Playbook for Strategic Growth” to learn  expert insights on accelerating growth.

Meet with Esquire Bank

Achieving bold growth is within reach. Learn how your law firm can leverage its contingent case inventory to gain access to capital so you can invest in talent, marketing, technology, operations, and case acquisition.

Schedule a consultation with an Esquire Bank law firm banking expert today 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.