Lessons From the Last Two Years of Growth at Offit Kurman
By Jim Ries
Oct 13, 2020
- Marketing + Media |
- Legal + Transactions |
- Services + Strategy
Jim Ries is the Director of Business Development at Offit Kurman, a full-service law firm with offices throughout the Mid-Atlantic region.
Offit Kurman Attorneys At Law has experienced significant growth over the past decade and is recognized as one of the fastest-growing full-service law firms in the United States. In fact, for the last two years, they have grown by over 50% through expansions into new regions like New York City and Charlotte, North Carolina.
The key to their sustained growth and expansion lies in:
- Lateral and firm recruitment with professional management. They hire highly skilled attorneys and affiliate with law firms that align with their culture and clientele.
- Strategic growth focused on the needs of privately held businesses and entrepreneurs, allowing them to service clients across various regions and legal issues.
Lessons Learned:
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Find your target market sweet spot: For Offit Kurman, this is the small to mid-sized business market. While they handle cases for startups and large corporations, their primary focus is on businesses in between. They fill a gap left by boutique law firms and national law firms raising fees due to public company clients.
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Diversify your services and reach to withstand recessions: Offit Kurman's full-service model and regional presence ensure stability during economic downturns. Some practice areas may thrive while others slow, but their diverse range of services and locations help them weather the storm.
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Culture and compensation are key to successful growth: Their unique culture and compensation model fosters collaboration among attorneys and rewards them based on individual strengths. Transparency regarding firm finances sets Offit Kurman apart from traditional law firms.
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Grow strategically: The management team carefully considers decisions to open new offices and affiliate with established law firms, ensuring alignment with their strategic goals and culture.