Data-Driven Strategy for Paralegal Pros, Inc. Consulting

Introduction

Although not as successful as hoped — but more successful than realistically expected — Paralegal Pros, Inc. (hereinafter alternatively "the company") has managed to move into phase two of its project plan, hiring two part-time certified paralegals and assigning them to their respective areas of specialty (i.e., bankruptcy and immigration) as consultants for local law firms. The purpose of this paper is to continue with the ongoing Paralegal Pros, Inc. consulting project by describing the types of data that will be relevant to phase two as well as succeeding phases. In addition, an explanation of the most effective strategies for obtaining relevant data is followed by an explanation of how the data will be organized. Finally, the paper presents a summary of the status of the ongoing paralegal consultancy project plan in the conclusion.

Types of Data Relevant to the Project

First and foremost, it is vitally important for small business owners to know where their income is coming from as well as where their money is going on a regular basis (Bhardwaj, 2022). Therefore, the company's income statement will serve as a useful barometer to assess its profitability and to determine what changes, if any, may be needed to increase revenues. This data will also be needed to determine when the company is best positioned financially to move on to phase three of its project plan.

In addition, in order to ensure the effectiveness of the company's website and social media platforms, data concerning the number of visitors and the percentage of contacts generated from those visitors will also be collected. This data-collection strategy is consistent with the guidance provided by Lányi and his associates (2021), who emphasize that "company websites are more related to marketing functions than information technology from the point of competitiveness" (p. 477). Likewise, the same type of quantitative data will be collected concerning responses to email promotional campaigns in order to determine where responses are coming from, what they concern, whether responses were required, and whether the communications ultimately generated new revenues.

Other data relevant to the project includes which areas of paralegal specialization are most often requested by the company's current clientele as well as by prospective clients. This data is similar to the above-described information concerning the major sources of the company's revenues, but it will provide specific feedback about which paralegal services are most in demand — helping to determine whether hiring additional part- or full-time certified paralegals is warranted. It will also be important for the company to regularly assess the prevailing wages for certified paralegals at the local and regional levels to determine whether salary increases are needed to continue attracting and retaining the motivated, talented individuals who have fueled the company's success to date.

Finally, the company will collect Likert-scaled ratings from clients using a feedback form following each assignment. These ratings will cover the performance of the assigned paralegal — including the owner — to determine whether pay increases and/or other rewards are justified for top performers, or whether counseling or termination is needed for suboptimal performance. Because the labor market in general is tight, and especially challenging for specialty occupations, this data will provide a valuable and timely indication of each employee's respective contributions. Given the limited number of employees during phase two, it will be absolutely essential to ensure that everyone is contributing toward moving the company into phase three of the project plan.

Conclusion

Although it is possible for small businesses to muddle through their operations by simply providing products and services when and where they are demanded, few such enterprises survive in the increasingly competitive marketplace today. Clearly, a data-driven approach to managing a small paralegal consultancy is the best course of action — and best of all, much of the data is already available and waiting to be analyzed. Some data, however, such as client ratings, will require manual input and analysis, but the minimal time and effort expended on these steps will pay major dividends over time.