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Home » topics » Increasing profits
INCREASING PROFITS

6 essential tips for law office administrators to attract more clients

May 26, 2023 by

As a law office administrator, one of your key responsibilities is to ensure the growth and success of your firm. A crucial aspect of achieving this goal is consistently attracting new clients. In an increasingly competitive legal landscape, it’s essential to employ effective strategies that can help your law office stand out. Consider these tips to help you gain more clients and enhance the reputation of your law firm. Develop a Strong Online Presence: In today’s digital age, having a robust online presence is imperative for any business, including law firms. Create a professional and user-friendly website that highlights your firm’s expertise, practice areas, and contact information. Optimize your website for search engines to improve its visibility. Leverage social media platforms to engage with potential clients, share informative content, and… . . . read more

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PRODUCTIVITY

Mastering time blocking: A guide for law office administrator and managing partners

May 16, 2023 by

Introduction: As a law office manager, you play a crucial role in ensuring the smooth operation of the firm while overseeing multiple projects and tasks. To effectively manage the demands of a legal environment, implementing time blocking techniques can be highly beneficial. By strategically allocating your time, you can optimize productivity, streamline workflows, and successfully handle projects. Let’s explore how time blocking can specifically benefit you as a law office manager. Prioritize legal case management: In a law office, managing legal cases and providing excellent client service are top priorities. Time blocking allows you to prioritize case management tasks effectively. Allocate dedicated blocks for activities such as reviewing case files, preparing documents, conducting legal research, and meeting with clients. By assigning specific time slots, you ensure that critical case-related tasks… . . . read more


INCREASING PROFITS

5 ways to keep the referrals rolling in

April 12, 2023 by

Referrals can be a powerful source of new clients, and they can help you build a strong reputation in your community. Here are some tips on how to get referrals for your law firm: Provide excellent service The first step to getting referrals is to provide excellent service to your current clients. When clients are happy with the service they receive from your firm, they are more likely to refer you to their friends, family, and colleagues. Make sure that your firm is providing top-notch service to all of your clients, and encourage your attorneys to go above and beyond in their interactions with clients. Ask for referrals Don’t be afraid to ask your clients for referrals. If a client expresses satisfaction with the service they have received from your… . . . read more

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BILLING AND COLLECTIONS

Scheduling payments can boost collections

April 12, 2023 by

One of your most important tasks is managing the financial health of your law firm. You know that collecting payments from clients can be a challenging and time-consuming process. However, with the right strategy, you can improve your collections and ensure your firm is getting paid in a timely manner. One effective strategy for improving collections is scheduling client payments. By setting up payment schedules, you can help clients stay on top of their financial obligations and avoid late payments. Here are some of the ways scheduling client payments can benefit your law firm: Improved cash flow By scheduling payments in advance, you can better predict your firm’s cash flow. This allows you to plan for expenses and ensure that your firm has the resources it needs to operate smoothly…. . . . read more

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INCREASING PROFITS

4 directions to send your law firm marketing message

February 21, 2023 by

If you’re looking to market your law practice, there are several techniques you can use to attract prospects, engage with them, and turn them into clients. To make the most of your marketing efforts, it’s important to focus on the data first. The better you understand your potential clients’ online and offline media behaviors and preferences, the better you can customize your messages to them across multiple channels. One effective way to expand your reach is to network on social media. Social media platforms are excellent tools to stay connected with clients and peers, increase brand recognition, and share thought leadership. Pay attention to which social media platforms your potential clients use, such as LinkedIn, Facebook, Instagram, Twitter and YouTube, and consider using several to reach a broader audience. You… . . . read more

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INCREASING PROFITS

Should a lawyer do administrative tasks to save money?

November 3, 2022 by

By Elizabeth M. Miller Should a lawyer do administrative tasks to save money? Of course, the answer is no. Struggling business owners will spend time to save money, whereas successful business owners will spend money to save time. Because you can always get more money⁠—you cannot get more time. So, you need to ensure the work you spend your time on makes the biggest impact. This is called leverage and leverage is the best kept secret of the rich. It works like this: If you spend five hours per week on administrative work at $400 per hour x 4.3 weeks per month it will cost you $8,600.00 per month of billable client hours. Over the course of a year that is $103,200.00 of billable time that you could be billing… . . . read more

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MORE PROFIT

The art of delegating to increase firm revenues

September 6, 2022 by

By Elizabeth Miller Law firms are unique in that unlike most other businesses which sell a product, lawyers sell time. Their time is, for a better description, “their stock in trade”. Based on this concept, to be profitable and generate sufficient revenues to carry the firm, lawyers should be spending their valuable time doing client billable work. The exception to this are contingency cases and hybrid cases which consist of a part contingency/part billable hour retainer agreement. Contingency cases, however, have to be profitable for a law firm also. With this in mind, the key to profitability and work product efficiency in a law firm is to assign legal tasks to the lowest paid but most qualified person to complete a task. When partners spend their time doing work that… . . . read more

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STAFFING

Is it a recession or not? The answer may surprise you

August 11, 2022 by

By Lynne Curry My in-box filled with questions after I posted a Recession Fears Loom blog. Readers asked how I made sense of the different views voiced by economists and politicians. As a law office manager with responsibilities around staffing and profitability, you are probably watching to see which way the economy goes. Here’s the background, and my answer to “are we headed into a recession?”: Some say “yes.” Over 60 percent of the 750 CEOs surveyed by the business research firm Conference Board expect a recession in the next 12 to 18 months1. Another 15 percent of surveyed CEOs report their region is already in recession.1 The most recent gross domestic product report that tracks our overall economic health showed a second consecutive quarter of negative growth, the textbook… . . . read more

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INCREASING PROFITS

12 MORE marketing secrets of superstar lawyers

July 27, 2022 by

By Trey Ryder #13: They provide client service beyond compare. They return phone calls quickly. They work day and night to finish projects. They have backup plans for their backup plans. They err on the side of caution. They hire a bright, responsive support staff. And they always go the extra mile. Whatever it takes, they get the job done. And the superstar’s staff is equally committed to bring the client the best result on time, on budget. #14: They make sure everybody knows they welcome new business. One obstacle successful lawyers face is that other lawyers think they don’t want new clients. As a result, they quit referring cases. When prospecting for new clients, superstar lawyers know it is far better to receive too many inquiries than too few. They make… . . . read more

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PRODUCTIVITY

Artificial intelligence can boost billable hours

June 7, 2022 by

Artificial Intelligence (AI) represents one of the latest advances in legal technology. Rather than replacing attorneys and support staff, AI can help lawyers and other legal professionals do more to serve their clients with greater efficiency and less expense. Teaching computers to learn One significant advantage of employing AI is the ability of machines to learn tasks that previously required the time and effort of lawyers, according to a blog by SMI Aware, a social media evidence collection and preservation service. Likewise, AI enhances the ability of lawyers to extract pertinent case information by directly typing a query in a search field—or directing the machine to perform a given task. Of course, before computers can perform these tasks, they must be “taught” to do so by humans. Connecting various concepts, such as… . . . read more

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