Setting Goals For Your Law Firm For 2018

The beginning of the year is a time when individuals look back at what has passed and look forward to the possibility of the year ahead. At the end of the year, have the attorneys in your Oklahoma firm looked at the goals they’d set at the beginning of the year and determined whether they’d met, or exceeded, the goals? Perhaps a goal wasn’t met and it’s time to look at that goal and determine why it wasn’t met. Was it too lofty? Was it unable to be adequately measured? At the end of the day, did the goal not fit the firm’s overall goals?

Gauging the success or failure of past goals will help fine-tune them for the year ahead. Setting reasonable goals, but those that challenge the firm and its attorneys, is more important than setting goals that are out of reach.

How to set achievable resolutions for your firm

It’s better to set a goal that challenges you and your associates, but not one that is so lofty that morale will suffer if it’s not achieved by the timeframe that’s been laid out.

Let’s take a look at setting resolutions and goals that are attainable if you’re looking to increase income for the firm:

  1. What is the dollar amount you want to increase by years’ end?
  2. How many clients will it take to achieve that income increase?
  3. How much will you need to achieve quarterly, monthly and even weekly to be on track to meeting the income goal?
  4. How many hours will need to be allocated to serve the new clients to meet the goal?
  5. How many associates will be needed to achieve the income goals?

After you’ve broken down the goal into these specific metrics, you may find that:

  1. You haven’t reached high enough, or
  2. That you have set a goal that is physically impossible to attain with the staff you currently have

Set small goals to help attain the ultimate goals

Where do you see the firm at the end of the year? Whether that includes increased revenues, increased staff, a more active social presence, increased client base.

With every goal you set, break it down into smaller goals, as outlined above, as a way to better able measure whether you’re meeting them and to course correct if necessary.

Here are resolutions to consider if you haven’t already set goals for your law firm:

  1. Increasing accessibility to new clients
  2. Amping up the firm’s visibility
  3. Delegating technology management to a dedicated individual(s)
  4. Make certain your legal accounting practices are in order
  5. Set up a system for onboarding the new clients you’re bringing in, to meet your firm’s goals for the year

Here’s to the new year, new goals and increased success at your Oklahoma firm!

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