Adding value for commercial clients
The biggest challenge of flying solo is that you are your business, says Rashmi Dubé
Deciding to start my own business in both Yorkshire and London was a big leap. However, I know I have made the right decision. I am enjoying building my own firm and helping my commercial clients add value to their own companies.
The biggest challenge of doing it on your own is that you are your business. When you fly solo, you realise, for example, there is no IT support; you are now PC World. The variety of people that were there to support you in a big law firm are gone. Then you realise that everything costs money. From paperclips to pens: it’s a huge shock to the system because you have to do everything. You need all 24 hours in the day.
However, this experience sets me up well for working with clients. Many small and medium-size firms are in exactly the same boat and they come to me because I understand the challenges they face and the solutions they need.
I believe that for lawyers to properly add value to their clients, they have to look beyond law. Many say they understand business, but because they haven’t actually started one, they will always lack the insight and the experience you only get from having done so.
Clients often come to us with one legal query but you really need to be looking at everything in the business to avoid future complications. It’s something more and more businesses are looking for when choosing a law firm to work with.
Many clients come to us and say: “Can you do this for us?” My response is: “OK, I’m not going to charge you, but I’ll have a quick look at everything else.” What you often find is other issues that you can advise them to look out for. That approach builds trust and creates a relationship that lasts.
Without growing businesses, we wouldn’t have an economy, so I believe it is important that solicitors have an understanding of how they work and what commercial clients really need to ensure they have a strong future. That’s the approach I take and it’s one I encourage others in the sector to follow.
Rashmi Dubé is founder of Legatus Law