By Elizabeth M. Miller bio
Law firms are unique in that unlike most other businesses that sell a product, lawyers sell time. Their time is, for a better description…
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Want to improve your bottom line? Encourage your partners to delegate
March 22, 2019 by
INCREASING PROFITS
How to pay the partners
March 22, 2019 by
Is your compensation system driving away the talent you need to grow? What approach did your firm take when establishing its partner compensation plan? It’s likely you chose…
BILLINGS
15 ways to improve your billings and collections
March 15, 2019 by
It’s no secret that many clients don’t like to pay their legal bills, says collaborative divorce attorney Joryn Jenkins. And without having…
BILLING & COLLECTIONS
Notice to Client of Increase in Hourly Rate
March 15, 2019 by
Why you need this Model Notice to Client:
Clients should be notified in writing of any fee increases 30 days in advance. This
protects both the firm and the client. Informing your client of what to expect and
when to expect it will help your client prepare for the extra expense.
Model Billing Statement
March 15, 2019 by
Why you need this Model Billing Statement:
Many clients don’t like to pay their legal bills and without having measures in place to ensure payments, law firms can run into huge headaches. One best practice is to ensure that your billing statement clearly outlines what services your clients are receiving for their money.
BILLING & COLLECTIONS
Model Retainer Agreement
March 15, 2019 by
Why you need this Model Retainer Agreement:
Many clients don’t like to pay their legal bills and without having measures in place to ensure payments, law firms can run into huge headaches. One best practice is to lay out your billing arrangements and hourly fees charged by partners, associates, and paralegals in your retainer agreement.
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Is your firm struggling with cash flow?
March 8, 2019 by
By Brenda Barnes bio
While revenue production is the core goal for every business, the real magic is in understanding and managing your cash cycle. You can’t execute without cash…
INCREASING PROFITS
Keep profits on track with this quick 5-point spring financial checkup
March 8, 2019 by
It happens every January. The firm makes grand resolutions to improve the financial performance.
But by spring, the attorneys get bogged down in their old habits. It’s the administrator’s job to keep the attorneys focused on their financial resolves, because their abilities and…
MONTHLY CHECKLIST
To-Dos: Your March office checklist
March 1, 2019 by
March comes in like a lion and goes out like a lamb. That’s outside, where winter storms give way to springtime calm. Inside, there can also…
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Cost-cutting strategies for law firms
February 22, 2019 by
By Elizabeth M. Miller bio
After much resistance, kicking, and screaming, lawyers are finally facing the reality that the business of practicing law is separate from the practice of law. What exactly does this mean? It means that a law practice is a business and from…
