Are you strategizing for success? Every personal injury firm that is growing, or wants to grow, should have a business plan. A strategic and detailed plan that provides a roadmap for growth and success is paramount. One key aspect that many injury firms leave off of their business plan is an outsourced litigation department. This applies to true solo firms as well as national brands. Wondering how? Let’s delve into how an outsourced litigation department can increase client satisfaction, streamline processes, and boost profits by outsourcing.
The Power of a Strategic Business Plan for Law Firms
A strategic business plan for your personal injury firm is not just about outlining goals. It is a tool to guide decision-making and measure success. Crucial elements include:
- Executive Summary & Company Description Summarize your firm, its legal specialties, and reach.
- Market Analysis & Competitive Analysis: Understand the legal service market, its potential, and your competitors.
- Products, Services & Target Market: Describe your offerings and identify your ideal clients (aka your Avatar Client).
- Revenue & Average Case Value Targets: Outline the firms annual revenue target. Follow that by the goal for the annual average case value. Divide these two number to calculate how many cases you need to onboard.
- Marketing Plan: Work backwards to determine how the Marketing team is going to deliver the exact number of cases the firm needs to achieve its goals.
- Outsourcing Plan: Frame your strategy so that you outsource tasks that bear a high staff costs and time commitment to allow other departments (i.e., marketing and sales) to work more efficiently.
- Financial Controls & Metrics: Project profits, margins, budgets, variances and the accompanying reports and their review cycles.
Such a plan can increase effectiveness, identify your target market, monitor progress, and attract potential investors.
Litigation Outsourcing: A Game-Changer for Personal Injury Firms:
Time is money in the world of personal injury law. Outsourcing litigation can free your firm to focus on pre-litigation. This is where cost-effective efficiency meets boosted profits and core competency focus. Outsourcing can enhance productivity, profitability, and client service, especially with a trusted partner like Georgia Trial Attorneys.
And as you grow, you will need a trusted partner to assist you with the challenges are running an entirely different business at different revenue levels.
“The way that you run a $250,000 a year business is not the way you run a $3 million business.” – James Grant.
The benefits of outsourcing your litigation include cost savings, improved efficiency, greater flexibility, and a sharper focus on core business activities. The key is finding a partner with a solid reputation and a proven track record, like Georgia Trial Attorneys.
How to Incorporate Litigation Outsourcing in Your Business Plan
With clearly defined goals and set KPIs (Key Performance Indicators), you can measure your success and determine the perfect time to outsource your litigation cases. A well-defined process ensures smooth operations and excellent client service. Georgia Trial Attorneys offer free resources to help streamline your processes. Remember, a well-planned customer journey improves client relationships. When you work with us, your clients always remain as your clients.
- Be specific. This might sound obvious, but what do you want to achieve? Of course, you want your law firm to be successful. But you need to include specifics such as wanting to increase my profits by 10% in the next quarter and the formula for how you will get there.
- Set your goals for success. Does your law firm have KPIs set up? Key Performance Indicators (KPIs) are measurable values law firms use to track their progress toward their goals. Your business plan will help you outline your goals, but you need a way to measure them. For example, at what point of measure of success will you determine that you need to outsource your litigation?
- Set up your law firm’s system and process: A well-defined system and process will help to ensure that the firm runs smoothly and efficiently and that clients receive the best possible service. Processes and procedures will make the transition much easier as you work with your outsourcing litigation department. To further help you with your processes, we provide free resources, including personal injury samples, templates, examples, and forms that you can download and use for your law firm.
- Understand your customer’s journey. What are the different touchpoints that your customers have with your law firm? How do they interact with your team? Mapping out the customer journey will help you to see where your customers are getting stuck or frustrated and how to create a more positive and enjoyable experience for your customers. Outsourcing your litigation will also improve your client relationships by allowing you to give them more attention. Did you know that when you work with Georgia Trial Attorneys, your clients stay your clients?
Success Stories Speak Volumes
At Georgia Trial Attorneys, we’ve helped many law firms take their firm to new heights of revenue and success through outsourcing:
- June 2023: Our referral partner case value skyrocketed from $0 to $70,000
- June 2023: A settlement for a referral partner’s case increased from an initial offer of $0 to $36,700
- May 2023: Our referral partner case notably increased from $600 to $35,000
Want to grow your personal injury law firm, increase profits, and focus on what really matters? Then litigation outsourcing should be part of your strategy. With Georgia Trial Attorneys, you get experience, skill, and dedication. Let’s unlock your firm’s potential together. Contact us today for a free strategy session and let’s drive your personal injury firm to new heights.
Outsourcing your litigation is the secret weapon to unlock opportunity costs and propel your firm to new heights.