Growing a Successful Will Writing Business: Tips from the Legal Growth Team
As legal professionals continue to seek ways to grow their practices, particularly in niche areas like Will writing and estate planning, it’s essential to focus on strategies that will help build a sustainable and thriving business. Legal Growth, with a nearly century-long combined experience within our management team, is dedicated to providing guidance and support to legal professionals. In this article, we’ll outline key strategies that can significantly boost your Will-writing business, drawing on years of industry experience and expert advice.
1. Understand Your Vision and Identify Your Objectives
Sounds a bit wishy-washy but before you dive into the operational aspects of your business, it’s crucial to define what you want to achieve. Do you have financial targets, such as aiming for a £60k annual income, or client-based goals like acquiring five new clients each week? Perhaps you’re looking to build a business that will generate a storage income or even one that you can eventually sell.
Setting clear objectives is foundational. By having a well-defined vision, you can shape your business strategy to align with these goals. Regularly revisiting these objectives ensures that your business remains on track, adapting to new challenges and opportunities as they arise.
2. Know Your Unique Selling Proposition (USP)
There are about 5,000 estate planners in the England and Wales. We’ve asked every client/prospect we speak to about what sets them apart. We tend to get the same answers. Whether it’s your ability to connect with vulnerable clients, the robust network of professionals you collaborate with, or your flexibility in offering appointments that suit your clients’ needs, your USP should be at the core of your marketing strategy. Ensure that it’s clearly communicated across all your promotional materials, helping potential clients understand why they should choose you over your competitors.
3. Create a Plan with Measurable Targets
A business plan doesn’t have to be a complex document filled with financial projections and detailed analyses. Instead, focus on creating a simple, actionable plan with measurable targets. For instance, you might aim to double your website traffic and increase the number of visitors to your ‘contact us’ page. By setting specific, measurable goals, you can develop a straightforward marketing strategy that aligns with these objectives and allows you to track progress effectively.
4. Implement a Client Relationship Management (CRM) System
A CRM system is essential for managing client interactions, tracking progress, and ensuring you meet your obligations. It helps you organise your client base, manage leads, and follow up on potential opportunities. Whether you choose an off-the-shelf CRM package or build a custom solution, having a system in place allows you to spend more time focusing on business growth rather than getting bogged down in daily operations. The team behind Legal Growth have built TomCRM to help small businesses with lead management, email marketing, and more.
5. Build Your Digital Footprint
Having a strong online presence is non-negotiable. From a well-designed website to active social media profiles, your digital footprint plays a crucial role in attracting new clients and establishing credibility. Regularly updating your website with valuable content, engaging with potential clients through social media, and ensuring your business appears in relevant online searches are all strategies that can drive growth. You should also consider things like your own personal brand as part of this.
6. Focus on Working on Your Business, Not Just in It
It’s easy to get caught up in the day-to-day tasks of running your business but to achieve growth, you need to dedicate time to working on your business. Our founder Tom spends 2 hours a day in business development. This means setting aside time to review your strategies, assess your progress, manage leads and plan for the future. Regularly stepping back from the daily grind allows you to identify areas for improvement and opportunities for innovation. Perhaps find yourself a mentor like Tom and get measurable targets to work towards.
7. Learn from the Experts
To further enhance your business, consider exploring resources from industry experts. For example, Tom Stansfield's book, Success-ion: 101 Tips to Grow Your Estate Planning Business, offers invaluable insights into the estate planning industry. Drawing on years of experience, including his 6 years at The Society of Will Writers, Tom provides practical tips and strategies that can help you navigate the challenges of growing a Will writing business.
The Will writing and estate planning sector offers significant opportunities for those willing to invest in their business's growth. By understanding your vision, defining your USP, creating a practical plan, leveraging CRM systems, building a strong digital presence, and dedicating time to strategic planning, you can position your business for long-term success. Remember, the key to growth lies in continuous learning and adaptation, ensuring that your business remains competitive and responsive to the needs of your clients.
