In this blog, we feature insights into the importance of investing in law firm operations, when a firm should build out key functions, and what firm’s can do to ensure their operations are efficient and effective.

At many self-funded law firms, the partners wear many hats. Not only do they litigate cases, but they also take on finance, HR, marketing, and a plethora of other roles. As a firm grows, this can be inefficient, creating bottlenecks that take the focus off of resolving cases effectively.

Contingency fee law firm owners should consider creating specialized teams for crucial areas of operations. Depending on what phase of growth the law firm is in will often determine what specialized areas to build out.

Tim McKey, CEO of Vista Consulting — an industry expert in business operations for plaintiffs law firms, differentiates between two types of law firm operations: working IN the business and working ON the business.

• Working IN the Business: Doing what the business does — taking depositions, gathering evidence, case documentation, litigating, etc.
• Working ON the Business: Making the firm more efficient (doing things right) and effective (doing the right things) — optimizing client intake and communication, running effective marketing campaigns, hiring more talent, etc.

As law firms grow and hire specialized personnel to work ON the business, they free up the partners, attorneys, and paralegals to work IN the business, allowing the firm to scale its growth and optimize for both efficiency and effectiveness.

“Just being fast is sometimes not good. We want to be more efficient,” noted Tim McKey. “So, designing systems that work well on the business will allow you to be efficient and effective within the business.”

Watch the video above, to learn more about the importance of investing in law firm operations, when a firm should build out key functions, and what firm’s can do to ensure their operations are efficient and effective, featuring Tim McKey.

For more on Esquire Bank’s expertise in providing tailored solutions for law firms, please visit Esquire Bank’s resources portal, Lawyer IQ, where you can learn about growing your business, financing for law firms, marketing strategy best practices, and more.

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