Finishing Strong: A Fall Reset for Law Firm Owners

As summer winds down and the pace of practice picks up, the fall season offers a natural opportunity to regroup, refocus, and position your practice for a strong year-end finish. For many solo and small firm lawyers, the fourth quarter is about more than just closing out files—it’s about laying the foundation for a successful new year. Here are some practical steps to guide your fall reset.

Take Control of Your Financial Health

The fourth quarter is the ideal time to tighten up financial practices:

• Billing and Collections: Review your accounts receivable, follow up on overdue invoices, and consider incentives for prompt payment before year end.
• Tax Planning: Meet with your accountant to evaluate deductions, retirement contributions, and year-end expenses. A little planning now can reduce surprises in April.
• Budget for Next Year: Look at where your money went this year—marketing, staffing, technology—and set a realistic budget for 2026.

Reconnect with Clients and Referral Sources

Your strongest relationships deserve attention before the holidays:

• Client Outreach: Send a personalized note, holiday card, or newsletter highlighting your firm’s successes and updates.
• Client Appreciation: Consider hosting a small gathering, webinar, or virtual update as a way to thank clients and keep them engaged.
• Referral Network: Reach out to referral sources with a thank-you and a reminder of the services you provide. Ask them how you can return the favor of referring work – who are their target clients and what is their sweet spot for work.

Refresh Your Operations

A little administrative cleanup now makes the new year less stressful:

• File Review: Close matters where possible and archive closed files.
• Technology Tune-Up: Update your software, organize digital files, and back up your client data.
• Policies and Procedures: Review engagement letters, fee agreements, and office manuals to ensure they reflect current practice. Check out the many risk management resources available on our website: Risk Management Hub – Lawyers Mutual Insurance NC.

Invest in Your Team and Yourself

The end of the year is a natural time for reflection and growth:

• Staff Evaluations: Complete performance reviews, set goals for 2026, and discuss professional development opportunities.
• Holiday Planning: Set your holiday schedule early and communicate client coverage in advance.
• CLE and Compliance: Double-check your continuing education and licensing requirements before December 31. Remember our CLE on-demand platform if you need additional hours, free for insureds, a fee for those not insured: On-Demand CLE – Lawyers Mutual Insurance NC.

Plan Strategically for 2026

Use this season to look forward with intention:

• Set Priorities: Identify your top three goals for 2026—whether that’s building a new practice area, improving efficiency, or adding staff.
• Marketing Plan: Draft a simple Q1 plan now that includes articles, presentations, or networking opportunities.
• Succession and Growth: For solos and small firms, year-end is a good checkpoint to evaluate succession planning, associate development, or buy/sell opportunities.

A Final Thought

The fall season offers more than just a return to routines – and pumpkin spice everything! It’s an opportunity to reset, refresh, and realign your practice with your long-term goals. Even small steps in the fourth quarter can create momentum that carries you into the new year with confidence and clarity.

Camille Stell is Vice President of Risk & Practice Management for Lawyers Mutual Liability Insurance Co. of NC and is the co-author of the book, RESPECT – An Insight to Attorney Compensation Plans, 2nd Edition published October 2024. Continue this conversation by contacting Camille at camille@lawyersmutualnc.com
or 800.662.8843.