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Starting your own law practice can seem overwhelming. However, it’s not as big of a challenge as you might think. Many of the practices that fail make the same mistakes. By avoiding these five common mistakes, you can work towards building a successful practice.
1. Unfair billing practices
While you might need every penny of billing that you can get, unfair billing practices is not the way to go. There are several reasons for this. First, your clients will hear about your high billing rates. As a result, people may be reluctant to choose you to represent them. Even if you have a successful track record, you may still have a hard time getting clients. Very high billing can be enough to keep your business from being successful.
Another problem with unfair billing practices is the fact that it may come back to haunt you. Today, there are companies that specialize in reviewing legal bills. Consider www.legalbillsontario.com/. They can help clients determine when a law firm had unfair billing practices. If you have a client who gets their billing reviewed, they may be able to take legal action against you. This could devastate your practice and leave you back where you started.
2. Unethical marketing
Marketing for a new law firm can be a big challenge. And sometimes, that challenge leads to some bad decisions. In an attempt to bring in new clients, a lawyer might have some unethical marketing tactics. For example, he might promise more than he can offer. Or, he might call himself the best in the industry. If you say things in your marketing brochures that are untrue, you open yourself up to malpractice.
To prevent unethical marketing, you should educate yourself on the matter. Learn what techniques you can legally use, and what could get you into trouble. There are many different resources available that can help you understand the ethics of marketing. If all else fails, turn to an expert for advice. This can save you from a big headache later on in your life.
3. Ignoring your reputation
When you run your own practice, your reputation is everything. However, this fact often gets overlooked. If you fail to focus on your reputation and use it as a selling point, you won’t reach your full potential.
If you don’t have much of a reputation, it’s important to work towards building it. Take an active role in your local community. Make your presence known at local events and participate as much as you can. No matter how small your community may be, there are ways to get noticed.
Another way to get noticed is to do pro bono work. Don’t neglect the importance of pro bono work. It’s a great way to build up your reputation and get people to know your name. If you want to build up trust in your community, you just have to get out there. It takes time and effort, but the effort can really pay off in the end.