Running out of things to do? Just kidding. But in case you are, here are some projects to consider for the last quarter of the year. Financial Review and Budgeting: a. Review the year-to-date financial statements to assess the firm's financial health. b. Prepare a budget for the upcoming year, considering revenue, expenses, and capital investments. c. Ensure all client … [Read more...] about 15 projects for the last quarter of the year
Increasing profits
The art of delegating to increase firm revenues
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 … [Read more...] about The art of delegating to increase firm revenues
Business origination: Know where the work comes from
By Brenda Barnes Businesses thrive only when they have sales—and lots of them. To increase top-line revenue, firms must continually generate new business. In professional service firms, sales, or business development, is generally referred to as business origination. Whether or not your firm tracks originated business or compensates attorneys for new business, it is vital to … [Read more...] about Business origination: Know where the work comes from
6 essential tips for law office administrators to attract more clients
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 … [Read more...] about 6 essential tips for law office administrators to attract more clients
Mastering time blocking: A guide for law office administrator and managing partners
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 … [Read more...] about Mastering time blocking: A guide for law office administrator and managing partners
Scheduling payments can boost collections
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 … [Read more...] about Scheduling payments can boost collections
Should a lawyer do administrative tasks to save money?
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 … [Read more...] about Should a lawyer do administrative tasks to save money?
Is it a recession or not? The answer may surprise you
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 … [Read more...] about Is it a recession or not? The answer may surprise you
12 MORE marketing secrets of superstar lawyers
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 … [Read more...] about 12 MORE marketing secrets of superstar lawyers
Artificial intelligence can boost billable hours
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 … [Read more...] about Artificial intelligence can boost billable hours