No matter if you’re in your first year or twentieth year of business, law firm owners are constantly seeking ways to grow their practice. At every step of the game, firm owners are trying to attract more clients, bigger clients, and clients with fulfilling work. There can be many different strategies to increase the number and quality of clients for your firm. Among the many strategies you can choose to grow your law practice with a virtual assistant. Hiring a virtual employee can be one of the most rewarding decisions you make in the course of running your firm. In this post, we will spell out a few reasons why this is the case.
The High Value of Time
Warren Buffett famously remarked that time is the one thing he can’t buy. There’s no question that time is among the most precious resources (if not the most precious) you need to grow your practice. You need to think of how you spend your time in an extremely detailed fashion. Carefully analyze your schedule, and think about how you can improve the use of your time in a minute-by-minute manner. This is where a virtual assistant comes into play. Your virtual assistant can step in and perform many of the tasks in your firm which need to be done but aren’t essential to actually growing your business. When your virtual assistant performs these tasks, this will free up time for you to focus on other things.
Be Careful About Salary
Even though your virtual assistant can be a big help by freeing up time, you need to think carefully about the salary you give out. If you give a salary which is too large, this can eat away at the profits you bring in. However, if you pay too little, you can’t reasonably expect the tasks you assign to be completed with a high degree of competency. Think of this as being a balancing act: you need to find an equilibrium between paying a decent wage while also being conscious of maximizing your profits. Remember that your virtual assistant may need to interface directly with clients on some occasions. For this reason, you need to be certain that your virtual assistant is qualified to do so. And this may mean paying a salary which is more than what you originally expected.
Review Your ROI
Another thing you should be conscious of when you hire a virtual assistant is the need to constantly review your progress and return on your investment. Develop a review system so you can see precisely how much you’ve invested financially in your virtual assistant and how much you’ve managed to increase your profits. Perhaps do this on a quarterly system. Every quarter, go over how much money you’ve spent and how much you’ve generated. Be sure that you analyze things carefully so you can clearly see how much of your profits can be attributed to your virtual assistant. The more detailed and thorough your review, the better your outcome will be.
Contact Get Staffed Up For Additional Information
Hiring a virtual assistant can undoubtedly be a means to grow your law firm practice. Hopefully, these tips can assist you after you make your hiring decision. If you would like more information, get in touch with Get Staffed Up, LLC today. Call us at 866-763-5699. Also, you can subscribe to our weekly newsletters HERE.