The expenses of on-site working law firms
Since the 2008 recession, lawyering has found more and more difficulties to expand itself and catch a bigger market. The struggle to get sufficient income to stay above competition and the lack of initiative to show people a friendlier image of lawyers have constituted the need to reduce costs.
One of the ways that law firms have done that is through adaptation and modernization of their working philosophy; technology, marketing innovation and alternative working systems are the tools that gave way to this turnaround.
Before and even after the miracle of technology, law firms have always required considerably big spaces in order to function; Space for partners and associates, a reception, a receptionist, marketing staff, paralegals and so on. Logically, the expenses of renting and maintenance for a firm like this could sum up to high numbers that in the end are going to affect clients budgets.
What is more, law firms need to go specific to ensure profit and offer representing a portion of the market, like specializing in music business counseling, but that has its limits. The lack of budget to physically expand and get to new clients has forced firms to get alternatives, many of which are remote counseling or renting a virtual office.
Why go virtual with a law office?
Remote working or home working has become bigger and bigger with the passing of time, its many advantages are so appealing that businesses in all branches have gone full virtual, including of course, law firms. The incredible amount of savings and expansion opportunities that a law firm or freelance lawyer can make by renting a virtual office are vast but sometimes ignored.
As mentioned above, virtual offices offer a much bigger possibility to expand to other markets. For example, a law firm in Washington D.C needs to expand to and reach more clients but cannot afford to physically rent in another city, let’s say Denver, the smartest choice some have taken and succeeded with is renting a virtual office in an elegant area to test the market’s potential.
The truth is that there’s no risk by doing this, most virtual office rentings are extremely cheap and monthly based, so there is no need to worry about risking to lose tons of money with a long lease office space, hiring employees and such. A good virtual office provider will help clients in choosing the right place for you to successfully land in the market in a cost-efficient way.
You see, this alternative does not only play well for bigger firms but also for those who are to start in the legal world; freelance lawyers who are about to plunge into the business know that renting bricks-and-mortar is a very expensive way to begin; it would be a bad choice to invest high numbers without having built some networks and a decent list of clients to justify an expense like that.
Perhaps a freelance lawyer thinks that home is the best and cheapest place to work from, but it is important to keep in mind that clients will always prefer professionalism, meaning that a home address or an improvised meeting does not look well in a line of work where formality and confidentiality are highly valued.
In such a case as the one above, the smartest decision is to get a virtual office in a coworking space where you can start building a portfolio of clients, attend to freelance and entrepreneurs meetings and build a network that can help as a viable way to grow your brand and reputation. After having a solid foundation, many lawyers mix styles by getting a virtual office with permanent physical space to have an office.
Yin and Yang
This is law and honesty is the most important aspect of this practice, so as virtual offices have much more advantages than disadvantages, it is mandatory to be objective and take a look at the other side of the coin.
Although Virtual offices give freedom, but oftentimes people are too susceptible to distraction regardless if the work is done from home or somewhere else. This can become unproductive to a certain level if time is not managed correctly. Time management strategies and tools to focus are many, it is imperative to find the best fit to keep continuity in work.
Another negative aspect of going virtual is loneliness. It is not hard to take deep thought into making a decision like working virtually when loneliness comes to mind. Actually, psychologists have studied the change of chemistry in the human brain when in company, and when completely isolated. The fact is that loneliness can affect productivity, self confidence and social skills.
Regardless of the previous facts, virtual office providers offer the possibility to go virtual in coworking spaces where many people do the same: Business.
In true, it is important to say that in a branch like law communicating tools must be ensured in order to provide for the best service and avoid low hits on reputation. A virtual office requires an array of tools to enhance constant and close contact with clientele. Legal firms and solo lawyers that do not pay enough attention to communication when going virtual, can do damage to their notoriety, even more so if its a new brand.
Evidently, during the last decade law has linked to the virtual office trend no matter the reasons. The effects have been diverse but adaptability has been the key to success in this profession. Virtual offices are the most affordable and cunning means to getting inside the market. Therefore, studying choices and getting assistance before taking a bad decision is what lawyers and law firms should do if expanding is their purpose.