Shelton & Steele
Las Vegas: 702-534-0100
New York: 646-485-4000
Silicon Valley: 650-242-8500
Washington DC: 202-800-8700
Legal Business & Marketing Consulting
Law Firm Mergers & Lateral Acquisitions
Shelton & Steele offers consulting and structured programs that are easy and immediately usable by individual attorneys and management in the following areas:
Starting & Growing a Law Firm
Whether spinning off from a large firm as a solo or group, starting a firm has never been more complex. What many attorneys don't realize is that there has never been a business climate which offered a greater chance for small to medium sized firms to succeed. It's a matter of knowing how to capitalize on the current, rapidly changing market conditions.
We have over two decades of data and experience with what creates the greatest chances for success, as well as the mistakes that are most important to avoid.
The practice of law is undergoing rapid changes. In-Housing, In-Sourcing, A.I., Corporate Collectives and more are mounting an offensive against "Business as Usual" - especially in BigLaw and MidLaw. Market conditions are about to change but one thing remains constant: Attorneys with a loyal client base are safe in just about any market. We provide a customized program based on your strengths and weaknesses.
We have over two decades of interviewing, lateraling and debriefing Rainmakers who developed stable client bases (or "book of business") ranging from the mid-six figures, to well into the eight figure range. One of the questions we have always posed is "How did you do it?".
What would 20 years of the best answers to that question be worth?
Individual Digital Marketing
Individual Digital Marketing or "IDM" is changing everything. There has never been time in business history when an individual attorney had access to unlimited free marketing. Until recently, only corporations and firms had the ability to develop, grow and maintain a valuable brand. Social Media and Content Marketing have become the great equalizers. We have worked with attorneys who have built seven figure books using only digital marketing.
The IDM strategies which have proven most successful for high end professionals are far removed from those seeking to sell Amway or build a fan base on Facebook.
We work with our clients to develop their primary, secondary and tertiary brands. From there, we construct the initial platform and then help them develop and implement a marketing campaign that will accomplish one goal: Get clients.
Individual Data Analytics / IDA or "Small Data"
This is the 21st Century. Face it, if you’re not using data analytics, you’re falling behind. Period. Ironically, once you learn it, most of the best software for helping you build your practice is free.
Chances are, your firm has one or more people employed full-time who manage data analytics or "Big Data" for the firm. However, virtually no law firms are taking advantage of what IDA can do for their attorneys.
Imagine knowing the measurable value of every activity, endeavor, client and potential client pool. What would be the value of knowing exactly what you should do and when, in order to increase your personal originations. The best part is the ease with which everything you need can be constructed and organized for you. Once your IDA is in place, your practice will never be the same. We can show you why.
Lateral Integration Programs / "LIP"
If your firm doesn't have a structured, comprehensive LIP, you're losing money and doing a tremendous disservice to every attorney you hire. Unfortunately, most firms LIP consist of little more than an introduction to the head of HR and tour of their campus.
The lack of integration makes it much more difficult for laterals to port clients and cross-sell to other attorneys. Valuable time is wasted and money is lost.
For a flat fee, we can create a start-to-finish program that will have new partners & associates hit the ground running, increase revenues, cross-selling and long-term retention.
Bureaucracy Reduction & Enterprise Management
The law is virtually the only industry which is still operating under the same basic business model for nearly a century. All other businesses and professions have adapted to the market or gone the way of the fax machine.
"The problem with law firms is that they're run by lawyers."
The S&S consulting team experience includes Chief Marketing Director of General Practice Firm, Executive Director of a Patent Boutique, Seconded Lateral Partner Recruiter for a national virtual firm, Global Director of Marketing & Digital Media for a Fortune 100, Manager of Data Analytics ("Big Data") for one of the largest casinos in the world, and Chief Technology Officer for a national insurance company.
Even at small to mid-sized firms, bureaucracy has proven problematic. Time is wasted and revenues lost due to excessive layers of management & committees, pointless (and seemingly endless) meetings and other unnecessary bureaucratic constructs.
Our team of experts can quickly evaluate your firm from back office support to the executive level. We then provide a comprehensive menu of Analysis & Recommendations. Our clients pick and choose what they feel will fit best with their current structure and corporate culture, in order to streamline operations and increase profitability.
Everyone talks a good game when it comes to cross-selling but few firms ever excel at it. The problem with the traditional approach is threefold: Mindset, Management and Measurement.
We work with firms who have higher levels of cross-selling than any AmLaw or Mid-sized firm in the country. We know what they changed, the mistakes to avoid and how their eventual success in this area can be replicated.
Once upon a time, attorneys who worked from home were limited to small-scale work. All but three of our clients are either virtual firms or hybrid Brick & Mortar firms that have a virtual component as part of their platform.
Our clients have evolved from minor players to professional service providers who are on the most exclusive panels of the Fortune 500, Wall St., Tech and more. They've learned how to collaborate so effectively that they now run litigation and deals in the hundreds of millions and even billions in a virtual platform.
The market is changing rapidly and the low-cost and environmentally friendly structure of a virtual or hybrid platform is appealing to clients and has attracted some of the most prestigious and well-known attorneys in the country.
We provide everything you need to understand about this rapidly increasing industry trend and how to capitalize on it.
Branding & Re-Branding
Among the most important assets a firm has to offer both clients and potential laterals is brand. While there are three components to branding in modern and digital marketing, most firms haven't implemented strategies or campaigns to establish their brand as being anything more than "Business Law Firm" etc.
Worse, some firms have inadvertently established brands that are counter to their best interests. Negative market perceptions caused by bad press, poor management etc. are difficult to overcome and do not simply fade with time. Damage control and rebranding is absolutely essential if the firm is to survive, let alone rebound and prosper. Failure to do so almost inevitably results in the loss of clients and the Rainmakers who bring them in. We stop that from happening.
We provide specific tactics and strategies that have worked successfully for firms that were in need of re-branding.
Advanced Digital Marketing
Most firms have in-house marketing departments that handle their Social Media and Content Marketing. What they don't have is marketing departments that can identify exactly what they're doing to forward the three tiers of law firm branding & marketing: Firm, Practice Groups & Individual Attorneys.
We provide an analysis of current marketing efforts and activities, as well as what specifically should be modified, how and why. We provide a detailed and comprehensive set of campaign strategies & objectives for each tier, as well as the means to measure the success of each program. We also offer Alternative Fee Arrangements that are based solely on the success of the programs implemented.
To discuss hourly or alternative fees for consulting or training programs, please feel free to Email Frederick directly.
"The team at Shelton & Steele has helped me build my client base or "Book of Business" . They are experts on everything from traditional methods like speaking, writing, building a network and 'How to Work a Room', to using social media and digital marketing. I couldn't recommend them more highly!"
Michelle Smith, Of Counsel
AmLaw 200 Firm