Billing


It’s About Time You Got Paid

By | Jul.10.12 | No Comments

It would be great if collecting accounts receivable from clients just happened, like clockwork, once you sent off the bill. As you’ve likely discovered, however, the money doesn’t come rolling in automatically. Technology tools can …Continue reading »


Money

Keys to Effective Cash Flow Management

By | Jun.18.12 | No Comments

Every business has to generate cash to survive, whether you run a Fortune 500 company or a shaved ice stand—or a law practice. Most businesses pay expenses well in advance of delivering services and then …Continue reading »


Use Project Management Apps to Manage People, Part Two

Project Management and Your Law Practice Management Software

By | May.02.12 | 6 Comments

In part one of this series on how to use project management software to manage people, Brett Owens started simple with some easy-to-use, off-the-shelf apps—Workflowy and Basecamp. In part two, Brett shows us how delegation and …Continue reading »


New Practices

How Do You Set Your Hourly Rates?

By | Feb.15.12 | No Comments

You’re a new lawyer, launching a new law firm. How do you decide what your hourly rate will be? The ethics rules say that your rate must be “reasonable.” That doesn’t give you much to go on. You …Continue reading »


Fees

Wise Up Before Value Billing

By | Jan.05.12 | 1 Comment

So many say “just do it” when discussing “new normal” pricing strategies in the legal market. The thinking is that you should just pick a number that meets a client’s value proposition and go with it. …Continue reading »


BIGLAW TO SOLO

First, Figure Out Your Billing Strategy

By | Sep.08.11 | 2 Comments

What happens after you leave BigLaw and become a solo? When John Snyder—a Harvard-educated senior associate in a big New York firm—decided to start his own practice, plenty of people wondered about it. There must be an easier …Continue reading »


Fees

The Best Pricing Advice Ever

By | Aug.22.11 | 3 Comments

So it was the summer of 1983 and I had reached that particular stage of adolescence when your parents have finally managed, after a long succession of hints, to get across the idea that this would be …Continue reading »


Money

Planning for Flat-Fee Billing

By | May.24.11 | 1 Comment

Flat-fee billing has been around in the legal profession for a long time. While there are arguments about the pros and cons of fixed fee versus hourly billing arrangements, the issue comes down to clients …Continue reading »


money

Get What They Owe You

By | May.17.11 | No Comments

Financial success is not measured by the billable hours you work, but by the amount of cash you actually realize from them. Uncollected receivables are tantamount to an interest-free loan to the client that can eat …Continue reading »


Money Extra

Getting the Fee You Deserve

By | Mar.29.11 | 1 Comment

It happens to every lawyer—although hopefully not too often. You propose or quote a fee to a client or prospective client and are greeted with a response such as “I can’t afford it” or “How …Continue reading »