This wiki is a collaboration of time-saving tips and crucial business advice for solo attorneys and anyone who's in the business of running a small law firm. As this portal grows over time, it's contents will include tips on cash...
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This wiki is a collaboration of time-saving tips and crucial business advice for solo attorneys and anyone who's in the business of running a small law firm. As this portal grows over time, it's contents will include tips on cash management, law firm marketing, client billing procedures, staff management and business strategy in the context of a law practice. Feel free to add your advice - based on experience - to this public resource.
I mentioned in an earlier blog the huge opportunities and challenges facing law firms with the impending baby boomer exodus from the leadership ranks. I thought I would expand on that theme here. That's right, you heard me--the long-standing complaint among senior associates and junior partners that they have no role in leading firms is going to radically change in the next few years. Take a look at the bios of the leaders in firms--that grey should be telling you something. That, coupled... Read Full Story
Just read an interesting post at the WSJ law blog (congrats, Rupert, on the new 'property'?). I found a review there of a new (as yet unreleased?) survey by the American Lawyer on associate happiness. As usual, it is abysmal. Congrats to Dickstein in NY for coming out on top. Of course, even the vaulted ratings they received doesn't mean they don't lose associates. Most interestingly, a little tidbit about law firm economics. It turns out that some firms will spend a whopping $250K to... Read Full Story
Bourne Ultimatum—An Old Paradigm Comes Out of the Closet I just caught “Bourne Ultimatum” last night (opening night in San Francisco)—the third installment of the amazing film franchise staring Matt Damon. Don’t worry: no spoilers within. I have to say, the action is riveting, the tension unrelenting, the premise compelling. Most action films engage only your adrenal gland—adrenaline is pumped into your system while the ridiculous plot turns and transparent appeal to emotion coax your brain... Read Full Story
We in San Francisco have a tendency to turn every three-day holiday into a four-day extravaganza--even our run-of-the-mill weekends are usually about 2.6 days all told. However this week, we aren't the only ones, I'll wager, feeling the "dog days of summer." I diligently checked all my "RSS" feeds today, and there wasn't a single new post among the glitterati of blawg writers--there is definitely something in--or absent from--the air today. The "ancient" Romans called these days--the hottest... Read Full Story
There are lots of good reasons why forty-plus percent of fourth-year attorneys are in their second law firm. Personally, I've enumerated about a dozen categories of reasons that associates switch firms early in their careers, all of them reasonable. But the big three, and the ones many think are unreasonable or at least disadvantageous, are really the best reasons for leaving, and ones you should make sure don't apply to you if you are planning to stay put--especially as you allow the fourth... Read Full Story
I am sick and tired of hearing partners and associates alike bemoaning the difficulties, unfairness and over-all messiness of law firm "politics". Many otherwise highly intelligent, well-read and forthright professionals start sounding like 7-year-old boys (I ought to know, I have two of the creatures at home) when they start gabbing about machinations in their respective offices--and usually it all starts sounding like an elaborate and just plain wishy-washy excuse for mediocrity. "But... Read Full Story
This article is sponsored by Accept by Phone - the ultimate payment solution for attorneys who bill by the hour. Accept credit cards from any touchtone or cellular phone for only a $5.00 monthly fee , at a 3.95% discount rate. No catch, no hidden fees, and no cancellation penalty. Full Account Details >> --------------------------------------------------------------------------------------------------------------------- Accounts receivable, if ignored or not dealt with efficiently, can... Read Full Story
In Part 3 of the Value Billing series, we highlight ways to value bill using BillQuick. While the decision about the value of work being done for clients may be incorporated into bill rates, estimates and fixed fees, you can also make this decision when you bill a client. Read Full Story
I "grew up" as a litigator. I always thought that was what you were supposed to do if you liked speaking in public and had a nasty little aggressive streak. Indeed, once I got into law-firm life, I noticed that nearly all the successful litigators had very overt hyper-aggressive tendencies. Even the more "mellow" litigation partners were eventually found out to be ruthless--once you scratched the surface. One fallacy that I have discovered now that I am a headhunter is that transactional... Read Full Story
Lastest feature article on Legal Marketing Reader is a good one: Getting Marketing and Business Development on the Same Page Are your marketing and business development teams playing from the same game plan? For the majority of professional firms, our research and experience tells us the answer to this question is "no." Despite the fact that marketing and business development people are both charged with expanding their firm's client base, at any given time they may be promoting different... Read Full Story
