How To See the Opportunities for Law Firm Growth

The old adage says that “business leaders need to work on their business as well as work in their business.” This is certainly true for attorneys who want to grow their law firms. In the legal business, professionals tend to be very good at worrying and seeing the crises, but are they as quick to see the opportunities? This is a question lawyers should ask themselves frequently so they can swiftly spot opportunities to expand their client list and increase revenues.

This mindset – “See the Opportunities” – can open up a whole new world of possibilities, and it represents a new way of thinking. Consider these examples:

1. Rising Global Temperatures: If you happened to listen to a podcast explaining a heatwave while driving in your car, you might see a solid opportunity as an attorney to fill the litigation gap between worker injuries and poor laws. As concern increases about unnaturally hot weather, the problem isn’t going to get better, only worse. At least for a few years, you have a situation of increasing worker heat injuries/deaths. And in a worsening situation, you have the absence of federal regulations and local laws on the corporate side — an environment ripe for work injury lawyers to help workers. See the opportunity?
2. EV Car Incidents: Your clients have searched for years using terms like “Truck Accident Lawyer” and “SUV Crash,” so why wouldn’t they employ search terms using “EV”? The answer is, they are. Consider targeting (within existing Accident PPC campaigns) keyword phrases that are EV-related. For example, “EV Car Accidents.” Also, are you keeping your eyes on the Robotaxi situation in San Francisco? While companies are working to resolve the safety issues, this technology is being rolled out nationwide over the next few years. Are the trends for EVs and Robotaxis going up? Are there likely to be more incidents as people use them? What types of accidents? See the opportunity?

Start by asking yourself which trends you are noticing in the world around you? These might include:

• Increased pharmacological interventions with teenagers. See the opportunity?
• Higher nursing home populations as Baby Boomers age into care facilities. Will nationwide nursing shortages result in more medical injuries? See the opportunity?
• A growing number of fires in EV lithium-ion batteries as well as in conventional car batteries. See the opportunity?
• The surge in gig-economy lawsuits. See the opportunity?
• The growing concern and litigation over privacy invasion and emotional distress. See the opportunity?
• A rising number of medical device lawsuits as technology and innovation evolve faster than safety regulations. See the opportunity?

After paying attention to the trends around you, ask yourself whether opportunities to provide legal help exist — or not. If you are an attorney in Texas, positioning your firm for more medical malpractice complaints is likely not a smart move because of the unfavorable litigation environment. But, if you’re located in a major metro area that’s expanding autonomous transportation options, then Robotaxi incidents in the years ahead might be a new source of business. Let this question be your guide: Is there a litigation environment that supports, or undermines, my ability to assist individuals in emerging lawsuit trends? If the litigation environment is favorable, then you’ve likely identified a new source of revenue for your law firm. All you had to do was see the opportunity!

By lifting up your eyes, rather than staring at the legal document on your desk, you’re able to see whole new possibilities for law firm growth. It’s completely understandable that attorneys are stressed and tired from working long hours and juggling multiple cases, so it can feel like there’s little time to think about new trends and practice areas. But an hour or two of reflection while driving your car or listening to a podcast can produce phenomenal results!

With a new mindset, attorneys can work on growing their business as well as handling cases. Rather than fighting the competition for car accident claims or slip-and-fall cases, ask yourself if there’s an emerging trend that represents a whole new stream of revenue.

Getting a Bigger Piece of the Personal Injury Pie

The personal injury industry’s market size, measured by revenue, was a whopping $59.9 billion in 2023 in the United States. Getting even a modestly larger piece of that pie can represent tens of thousands of dollars in increased revenue for your law firm each year. Be innovative and think creatively about where future lawsuits will come from and then proactively create marketing campaigns to attract those clients.

If you don’t have time to spot and analyze emerging trends, then hiring a law firm marketing agency might be a good choice. It’s the job of marketers to get out in front of trends, pay attention to current events, and recognize new opportunities for clients’ revenue growth.

Even Law Firm Staff Can See the Opportunities

Teaching your law firm employees to “see the opportunities” can also create efficiencies within your business. Consider this article excerpt in Readers Digest magazine written by a reader:

“My Mom was a woman of few words, but one phrase of hers that stuck was ‘see the work,’ which meant see what needs to be done without being told. If toys are left out, put them away. If dishes are being washed, grab a towel. If litter is strewn along the road, pick it up. Simple advice from a quiet woman.”

You can create an environment within your law firm demonstrating that you expect staff to be self-starters. Set the bar high. People tend to perform to the expectations placed in front of them. Communicate that you want employees to spot work that needs to be done and do it without being told. Reward innovations in workflow that save time and money. Acknowledge employee ideas that create opportunities and cut costs. Everyone, even the summer intern, can learn to see the opportunities!

Gladiator Law Marketing Spots Trends and Leverages Opportunities for Clients

At Gladiator Law Marketing, “seeing the opportunities” is a way of life. From senior leadership to rank-and-file staff, we empower our professionals to spot trends and leverage opportunities on behalf of clients. We work collaboratively with law firms to identify local and regional trends that can produce future lawsuits and, hence, increased revenues. Every one of our marketing campaigns and website designs are customized for a client’s business goals and areas of expertise. There is no cookie-cutter approach to marketing a client’s firm. If you’d like to learn more about our award-winning team and the services we provide, we’d welcome the opportunity to have a conversation. Call us at 1-888-683-3212 for a free initial consultation about seeing the opportunities.