Lawyers tend to be go-getters who often continue their education or open their own law firms. While it takes work to open any type of business, lawyers already have the most important component – a law degree. Getting the business started involves building the business and getting the word out online using SEO for law firms by Yo Media. You’ll also need to follow these five simple steps.
1. Write a business plan
Everyone starting a business should have a business plan with a complete list of what you need, what you’ll do, and how you’ll do it. The business plan needs a mission statement and values that determine your firm’s future. It should include your goals and clients you plan to help. Don’t forget to include your projected revenue and expenses. All businesses need a legal structure and marketing strategy, so include those in your plan. You will have to share this plan with lenders and potential partners.
2. Create and register the legal documents
Once you’ve completed your business plan, the next step is to complete the necessary legal paperwork and file it with your local and state government agencies. You’ll have to decide how you want to organize your business – either as a sole proprietorship, an LLC, or a corporation. Consider the pros and cons of all legal entities and choose the one that protects your personal assets.
You will also need a federal employer identification number (EIN) and a state taxpayer identification number for your business. You might also need licenses to practice in your community and state. States and municipalities share business registration checklists online. Some lawyers decide to trademark their firm names as additional protection.
3. Purchase insurance
All businesses need insurance to protect against accidents and lawsuits. You’ll want professional liability insurance or malpractice insurance as well as workers’ compensation insurance. If you purchase a building or rent space, you’ll want property insurance. If you are hiring a staff, you’ll need disability insurance and group health insurance. Many business owners also purchase general business insurance. Your insurance agent will help you make the best choices for your business and the ideas in your business plan.
4. Outfit the office
If you are opening a brick-and-mortar office, you’ll need to find a location and outfit it with necessities. Consider more than your desk and bookcase. You’ll need computers and software. You’ll also need office supplies, chairs, lamps, conference room furniture, waiting room furniture, and more.
5. Market your firm
Your law firm also needs marketing – otherwise, no one will know you exist. You’ll need a website and a blog with helpful SEO. Social media will help your business grow, and it’s one of the most affordable marketing tools available to anyone. Because you’ll be busy doing lawyer work, you can save time and money by hiring an SEO firm. You might want some pay-per-click advertising, but use it wisely as it can get out of hand if you aren’t monitoring it closely.