Last week, we gave you 4 reasons to rethink hourly billing in your law practice. Today I want to talk about the flat-fee pricing model, as many lawyers think that’s the answer to making law practice work, but in some cases, providing flat-fee legal services can be even worse than hourly billing.
Chances are you already know this. You struggle to capture all of your time. You spend the end of the day going through your time records to ensure that you’ve billed your clients for every minute you can. And, like every other attorney, you probably hate doing it. Yet, what other option is there?
You thought you were going to law school to be a lawyer and counsel clients, and help people. You thought you’d get a well-paying job in a law office afterward, or if you went out on your own, that the clients would show up with ease. Now that you are out on your own (or …
This week, one of the lawyers in our Personal Family Lawyer® program posted the following to our private member’s forum: “My assistant told me today that I am only appealing to the top 1% of people as potential clients, and that most people can’t or won’t pay our fees. He suggested that if somebody wants …
Becoming more efficient with your time and boosting productivity will not only benefit your bottom line but can have positive effects on how much you love your life and law practice.
A friend of mine posted on Facebook about a grinch lawyer who ruined her Christmas by dropping work on her desk Christmas Eve morning that had to be completed by the end of the day. It reminded me of a story about a client of mine who was shocked to discover he had turned into …
What Type of Lawyer Should I Be?
– A Christmas Story Read More »
I work closely with my financial team and tax accountant at year-end to ensure I pay as little taxes as possible and maintain as much control over my resources as possible. Do you do the same?
In part 1 of this article, we uncovered some of the real reasons why there are so many broke lawyers, and what savvy lawyers need to know to avoid falling into the pit. Today, we are going to get into specifics of 3 key strategies for success that struggling or broke lawyers can use to …
Why Are There So Many Broke Lawyers? Part 2 – Differentiate Yourself Read More »
Many people don’t believe it. Even lawyers are known to scoff at it. But many of you know the truth — you go to law school, spend a small fortune and come out to find the pickings are lean. Looking deeper than 6 figure school loans and the trend of fewer Big Law positions available …
Lack of steady, consistent, predictable cash flow is the number one problem most lawyers tell me they have in their law practices. They tell me that if they could just solve that problem, everything in their life would be better.
