In this podcast, Anthony Geraci, discusses how to scale your law firm to new heights. Geraci is a lawyer, entrepreneur and founder of Lawcoaching.com, where he coaches attorneys to grow their book of business and how to manage their law firms. You can connect with Anthony on his website Lawcoaching.com or on LinkedIn here.
Podcast Show Notes:
How did you switch from practicing law to becoming a business coach?
I worked at a small firm for a couple of years and then opened my own practice in 2007 and today we have scaled to 22 attorneys and a full marketing and media staff. Through the growth of my law firm, my role has changed, from working in the business to serving as CEO by setting a vision and strategy for the firm. This has taught me how to coach our attorneys internally, which was how I discovered that law coaching is more my headspace than practicing law, so six months ago we started Lawcoaching.com.
What is the best way to scale a law firm?
My philosophy is to “Play to your strengths, hire someone for your weakness.” That is how you grow to a small firm. But to grow to a medium sized firm, you must be open to delegating the work, even if you know the associate will not do it as well as you. I call this the “Delegation Percentage Principle,” meaning, do 70% of the work as well as you can, so that it is okay to give 30% to the associates.
Why do you coach other lawyers?
The roots of my company wanted to change, in part due to transformational technologies, such as LegalZoom and Rocket Lawyer. You’re seeing more of the cost pressures to get the job done better and faster and cheaper, and I am passionate about helping lawyers navigate through this legal industry transformation.
What is the number one thing that attorneys don’t think about that will help them to grow?
Everyone is going to say, you need to get more clients and do more work. Although that is true, you can not acquire more clients grow and grow your revenue without working on yourself. You must set yourself up for success, through setting goals, working on your mindset and creating a daily routine. No matter how busy work gets.
What is the number one challenge that attorneys face that is blocking their potential growth?
Their mindset and attitude. Most people don’t realize that they are in their own way. If you are having a bad day, take a break from your work and restart your day after that break. Attorneys should great good habits that can help them scale their firm the new heights.
If you want to scale your law firm, learn to delegate 30% of your tasks, even if you do not believe your associates will complete the task as well as you would have. This will give you more time to focus on the main tasks that your firm needs to complete in order to increase revenue and generate more business. Do not forget to set a daily routine and create good habits in order to set yourself and your firm up for success.
Should you need any help scaling your law firm and generating more business online, contact us for assistance.