How I Built a $1 Million Law Firm By Hustling

How Steve Parr Built a $1 Million Law Firm By Hustling

There are a lot of different ways you can grow a business. But sometimes, it just comes down to effort and grinding.

Steve Parr grew his law firm through networking, networking, and more networking. It might not be the most glamorous way to grow a business, but it works. And Parr Business Law is proof.

In this interview, Steve shares the details of how he networked his way to success and how he’s using YouTube and social media to scale.

Key Takeaways

🎯 Steve specialized his practice based on an observed gap in the market

🤝 Steve took advantage of every possible opportunity to network

💰 Low startup and overhead costs allowed Steve to become profitable quickly

🌐 Steve uses online marketing methods (YouTube, email, content) that many lawyers ignore

Overview

Business Name: Parr Business Law
Website URL: https://www.parrbusinesslaw.com/
Founder: Steve Parr
Business Location: Vancouver, BC
Year Started: 2017
Number of Employees/Contractors/Freelancers: 8

How much revenue and profit does the business generate?

We generated $90k/month, with a net profit of $300k in 2023.

Tell us about yourself and your business.

I started Parr Business Law in 2017. I am a lawyer turned entrepreneur. When I finished my articles in 2013, I saw what my future as a lawyer looked like and decided to start an Airbnb property management company instead.

I ran that company for several years before starting Parr Business Law. Parr Business Law does exactly what our name implies – a law firm for small business owners.

How does your business make money?

Parr Business Law is a service-based company. Like other law firms, we bill hourly and charge for our time. We offer incorporation services, contracts, wills & probate, and M&A services for small businesses in BC.

What was your inspiration for starting the business?

When I was running my Airbnb business, I saw a gap in the market for entrepreneurs. We were getting contracts and agreements drafted up, and even as a lawyer, I wasn’t exactly sure what I needed. This served as the starting point for wanting to start a law firm that focused on entrepreneurs.

We take great pride in helping small business owners navigate their legal needs.

How and when did you launch the business?

I launched the business in 2017. We launched a website that was professional (good photography & a good designer) to help us look more established than we really were. And then I networked a ton.

Parr Business Law Homepage

How much money did you invest to start the business?

I spent a few thousand dollars on the website. I had photos taken by a friend. I sub-leased my Airbnb property management’s office, and I had a few other expenses such as law society dues.

All told, I launched this business for less than $10,000 and was profitable relatively quickly.

How did you find your first few clients or customers?

The very first client I signed up was at a friend’s bachelor party. He was a successful entrepreneur and needed a lawyer. 

After that, I networked a ton. Any room or event where a lot of entrepreneurs would be, I would go. In 2017-2018, I attended a lot of cryptocurrency events. No one really knew anything about the legal side of crypto so I dove in and learned a lot about the legal side of crypto. I ended up getting speaking engagements talking about crypto law, which turned into clients.

What was your first year in business like?

It didn’t take me very long to get profitable. I don’t have financial data from the first few years, but in 2019, I generated ~$200,000 in revenue with a net profit of $70k. Service businesses are nice because the overhead is minimal. 

But like any service business, the first clients you take on usually get your services at a fairly steep discount. I can’t remember what I charged my first clients but my rates have gone up considerably.

The first few years I spent so much time networking. I really can’t overstate how much of my time I spent attending events and meeting people. Networking is one of the few marketing channels that costs next to nothing, aside from your time. Sweat equity is often required to get any new business off the ground.

What strategies did you use to grow the business?

I’ve talked extensively about networking, so I’m going to discuss some of our other marketing channels.

I’ve spent considerable time building my Youtube channel. We have ~3400 subscribers and it consistently brings in new clients. The trick here is publishing. It’s hard to know which videos are going to do well.

I have an email newsletter with about 6000 subscribers. These were brought in via my YouTube channel or my blog.

I also have a growing Instagram account where I shoot shorts on all sorts of legal advice and post them.

I have a robust Google Business Page with >100 reviews. This generates a significant number of impressions and clicks each month. The trick here is to consistently ask for reviews. And of course, deliver exceptional service to clients.

My SEO presence is strong. I rank well for a number of service terms and informational terms as well.

Tell us about your team.

Aside from myself, we have one lawyer, two paralegals, and two admin staff, all local to Vancouver.

What are your future plans for the business?

We’re in growth mode right now. The aim is to grow to $1.5m in 2024 (up from ~$1m in 2023). That’ll involve hiring more staff and continuing to work to bring in new opportunities.

What was the turning point when you knew your business was successful?

When I was connecting with my first client I knew I was onto something. I was surprised by how difficult it was to find a trusted small business lawyer. Once I started talking to more entrepreneurs it became more and more obvious that I was going to be solving a serious pain point. 

Each year I see that thesis further validated as I get to connect and help more business owners.

How much traffic does your website receive, and what are your primary sources?

In the last 30 days, we generated 3500 unique visitors. The rough breakdown is as follows:

  • Organic search: 1800 visitors
  • Organic social: 1125 visitors
  • Direct: 500 visitors

Every month our organic social and organic search is improving, which is encouraging to see.

What is the most important lesson you’ve learned growing the business?

Find a good problem to solve. This is in $100m Leads, but essentially Alex Hormozi talks about finding a problem that rich people have and solving that problem.

The key part is to do it better than you competitors. For us, that means better and faster service. You don’t necessarily want to get into a race to the bottom. In most cases, being the cheapest in your market isn’t a great distinction to hold.

What advice do you have for other entrepreneurs?

The most important piece of advice I have for other entrepreneurs is simple: take action. 

Every small action compounds. There were lots of times I would drag myself out to networking events even when I didn’t feel like going. There are going to be a handful of actions every business owner can take that will move their business forward a little bit each day. Make sure you’re taking those actions.

What are some of your favorite books, blogs, podcasts, or YouTube channels?

My favorite podcast right now is Huberman Lab. I recently read $100m Leads which I thought was good. 

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