Starting a Law Firm - What's in a Name?
When I started my law firm I was confronted with many choices. What kind of law will I practice? Where will I practice? Who do I want for clients? What kind of fees will I charge? It wasn't until I actually got into the planning stages of the law firm that I began to see these questions as more big picture, firm philosophy type of questions. These type of questions may never be fully answered because they are not static.
One big picture question that is static and that can have a profound effect on the success of your firm is its name. What's in a name? A lot if you think about it. Think about your own name for starters. What if you had been named something different? What if you were a boy and had been given a girls name? What if you were born in a particular religion and were given a name not associated with that religion? Have you ever been to a place where for some reason your name was looked down upon? These same types of feelings can be encountered with your law firm name.
The great thing about starting a law firm is that you get to think about this and plan ahead. If you are starting a law firm and are reading this article, you are probably either fairly young, fairly technologically proficient, or both. If you are, then you can probably see that the face and structure of the practice of law are shifting gradually beneath everyone's feet. Competition is fierce, and image is everything. And guess what, one of the first things people will learn about you, something they will probably use to form an opinion about you before they even meet you, is your firm name.
When naming your law firm there are some things you should think about to make sure you are maximizing that first impression. First, don't use your name. Second, it should be easy to remember. And finally, it should make people feel and think the way you want them to feel and think about your law firm. Although this may seem easy, when you actually try to do it, I think you'll find it is a pretty tough exercise.
Some you are probably thinking, "why not use your name? Everyone else does." That is precisely why. Although people have different goals, if you are starting a law firm, one of those goals is probably to make money practicing law. You make money by having people sign up for your services. People sign up for your services when they know who you are. Why blend in with everyone else when you can set yourself apart? Not only does not using your name allow you to present an image in prospective client's minds, it allows you to build the brand you want. A great example of this is Valorem Law Group. If you look at their website a central theme is discarding the billable hour to provide clients value for what they are being paid. If you don't already know, valorem is latin for value (loosely). Do you see the jump start you can get on the competition with a good name?
Second, easy to remember. This is practical for obvious reasons. If people refer your services to friends or colleagues, what is easier to remember, Valorem Law Group or Smith, Sands, Zaremba, Charles, Flippy and Jagermeister? Make your name easy to remember and you make it easier to get business - a key when starting a law firm.
Finally, the brand. When you start your own law firm you start out as the brand. At all times you are promoting your practice, you are what your practice stands for. But before anyone knows what you are all about, you can start them down the right track with a great name that represents the firm philosophy. A strong, powerful, confident name can make the difference in someone choosing to call you. It can also mask your size. "The law firm of Joe Shmoe" implies that you are a small firm. Like it or not many people associate small firm size with poor performance or cheap services. Look bigger than you are immediately by having a firm name that connotes structure, organization, and numbers.
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