Becoming a consultant solicitor allows you to do the job that you love while earning more for a fee earner at a law firm. If you are considering becoming a consultant solicitor, here we take a look at what you need in order to become a successful one.
How to identify your area of expertise as a consultant solicitor
It is important that you are honest about where your strengths and weaknesses lie – ask yourself the following questions to help you to identify your niche:
- Do I have a unique point of view?
- Do I have the experience necessary to be authoritative in this field?
- Is there a demand for this service?
Being a consultant solicitor requires you to be organized, self-motivated, and good at boundary setting, so you should consider settling on an area that allows you to manage an efficient billing cycle. You should also take into account what you enjoy as you will be doing this full time, so it should be something you are passionate about.
How to set goals as a consultant solicitor
Setting goals helps you know what you’re working towards. A useful model to follow is SMART:
- Specific: clearly define what you want to accomplish
- Measurable: identify targets and milestones to track progress
- Attainable: keep goals realistic and manageable
- Relevant: Set goals that will ensure you keep a steady stream of work
- Time-based: identify deadlines for your goals
As your role as a consultant solicitor grows, your plans should too. Revisit SMART goals on a monthly or quarterly basis and adjust them as required.
How much will I earn as a consultant solicitor?
Deciding how much you will charge for your services is an important part of setting up as a consultant solicitor and attracting the right clients. There are a number of options you can consider to help you choose the pricing that fairly compensates you for the work you’re doing, including:
- Double/triple your current hourly rate
- Set a daily rate
- Set fees by project
- Set fees by performance
- Set fees using data from previous client work
- Set solution-based fees
You can also research what comparative consultants are charging in your area – a good resource for this is Glassdoor.com.
As a consultant solicitor, the law firm you work with will take a certain percentage of what you earn as part of the consultancy agreement. Find out how much you would earn while working with Gibson & Associates by using our Consultant Solicitor Salary Calculator.
How do I attract new clients as a consultant solicitor?
Working as a consultant solicitor is very different from being employed as you need to build your own client following. Winning business is the biggest challenge when you become a consultant solicitor as you might never have had to worry about before if your law firm kept the pipeline full.
However, attracting clients is possible, you just need to know how to do it. Consultants who flourish can double or triple their income. We offer tips and advice on marketing your own services in this blog post so you are well equipped to attract clients.
What type of support will I receive?
The support you receive from Gibson & Associates is designed to allow you to focus on your clients. We understand that one size does not fit all, so we tailor our approach to support to suit your individual needs. Our support includes:
- Modern office facilities
- Administrative, paralegal, marketing, and IT support
- Finance and billing services
- Case management systems
- Professional indemnity insurance (PII)
- Compliance support
- Access to other specialist solicitors
The main benefit of becoming a consultant solicitor is that you get to do it all your way. You can pursue the clients you want to work with, in your own time. To find out more about becoming a consultant solicitor at Gibson & Associates, visit our dedicated page or call us on 01 872 3143.