Entertainment Law Practice – Don’t Ignore the Small Clients

Lawyer and ManOnce upon a time in Tennessee I got my first client that was paying me six figures in legal fees every year.  My firm consisted of me, an associate and an assistant.  I didn’t have a strong desire to get much larger – I like the solo and small firm life.  I proceeded to aggressively represent my number one client and along the way learned a few lessons.  One such lesson is undoubtedly common sense to many of you but apparently not to me.  Or perhaps I just forgot to slow down and think.

The first lesson I learned was to approach my practice with this in mind:  Everything Changes.  Isn’t that a law of nature itself?  But there are things that I can do to increase the chances of change being in a positive direction rather than negative.

I had some wonderful years with that big client and a respectful number of others.  However, what I did not foresee was that the client, a music business legend, would begin downsizing.  And as he divested himself of companies and stress causing activities, I too began to downsize — but not on purpose!  Eventually the annual fees paid to me by that client leveled off at about twenty percent of what they had been at the highest.

I remember setting in my office one day and thinking that I didn’t have much to do.  And there was a lot less money left at the end of the month.  My associate was handling the bulk of the work and my main job had become reviewing and revising his work.  I was discussing the situation with an advisor.  I have never forgotten what told me.  He said that I had been focusing totally on the needs of the large client and had ignored the smaller clients.  Then when the large client fees dwindled I did not have a good stable of other clients keeping the business healthy.  He spoke as though I was not the first to stumble into this trap.  This all immediately made sense to me.  I did not need convincing.

I took action. I no longer needed an associate.  I let him go.  I also no longer needed a full-time assistant, a luxury for most solos.  I let her go and hired a part-time assistant.  I began to pay attention to all clients big or small.

Today my business is healthier than it has ever been.  If I don’t believe I can give a prospect the needed attention and service then I do not accept them as a client. I have large and small clients.  My assistant is still part-time.  I engage independent contractor attorneys to assist with the work load on an as-needed basis.

Again – the lesson:  I remember when things are going well that everything changes.  However, the change can be for the better if I pay attention to all aspects of my business.  And take care of all my clients – large or small.

Comments

  1. Thanks for sharing this! I definitely agree that it is important to focus on all your clients, no matter the scope of their legal issue. They are paying you to help them, so you need to show that you are working hard to help them out. Plus, if you focus on all your clients, then you can get some free advertising out them!

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