Daily Dispatch


Financial Tips for Attorneys a Few Years Out of Law School

money management

In an earlier post, “Money Management Tips for New Associates,” we focused on how freshly minted lawyers can start their financial life on the right foot. Now let’s fast-forward a few years and consider some guidance for mid-level associates and young law firm owners. So, you’re older and wiser. What should you do at this point to keep your finances on the right track?Read The Rest

Your Money is In the Data

Looking for More Profit in All the Right Places

Back in January 2017, I was having breakfast with a local lawyer when he said, “I think I need to raise my rates this year. I am just not making enough money, and raising my rates should make the year more profitable.”

This led me to ask, “Do you know how much additional money you would actually make by raising your rates?” Maybe raising rates was needed; maybe not.Read The Rest

Play to Win

Riding a Wave of Business

When discussing business development, we often talk in terms of strategies — identifying top prospects, building niche practices or targeting selected referral sources, for example. But every now and then, I am reminded there are terrific chances to get business that fall into the category of being opportunistic — like riding a wave. Some lawyers reap great returns for a year or two from these efforts; others enjoy the benefits for an entire career.

Opportunities will present themselves to every lawyer at some point in his or her practice. To take advantage, you must recognize a trend, an emerging issue or a hot topic and then find an audience to promote it to — quickly.Read The Rest


Notes from the ABA TECHSHOW 2018 Startup Alley

Year after year, I refer to ABA TECHSHOW as the “relationship” conference. It’s where you spend time with old friends, make new ones, provide and receive mentorship, and come away energized with lots of new ideas to try out with a community of support behind you.

In the past couple of years, this community has included members of the Startup Alley. This year, 15 innovative legal startups were showcased in the Expo hall after winning a Start-Up Pitch Competition put on by a joint effort between ABA TECHSHOW, Above the Law, Evolve Law and Bob Ambrogi’s LawSites blog.Read The Rest


Resetting Default Heading and Body Fonts in Word

default fonts

If you’re sick of Calibri and Cambria, change your default heading and body styles so you can start every new Word document with the fonts you prefer.

Put Font Frustration Behind You … One of the most persistent frustrations legal users have with Microsoft Word is the default font settings. Fortunately, you can permanently change just two Styles (+Body and +Headings) to give your documents a more businesslike typeface.Read The Rest

Time Solv Product Spotlight

Seven Ways to Increase Law Firm Billable Hours

Can your firm honestly say it’s collecting all the billable time possible? Clio’s bombshell Legal Trends Report in September startled the industry by showing a dramatically lower number of billable hours as a percentage of hours worked than previously thought.

So how can your firm increase billable hours? TimeSolv has been providing billing and timekeeping software since 1999, and after working with thousands of lawyers we’ve developed seven best practices to consider to make sure every hour possible is captured and billed accordingly.Read The Rest

Thomson Reuters Product Spotlight

Four Ways Law Practice Management Software Helps Prevent Legal Malpractice Claims

Legal Malpractice Claims

Since 2009, the number of legal malpractice suits has escalated along with the costs to defend them, according to annual surveys by Ames & Gogh, an insurance broker. They say insurers have paid claims of $50 million or more in 2016, and that malpractice claims are most commonly triggered by conflicts of interest and cybersecurity issues. Business transactions result in the most claims, which tend to center around improper preparation, filing and/or document transmission.

If you want to do everything possible to ensure you’re never among the firms accused of malpractice, take advantage of law practice management software, advises Nerino Petro, technology co-editor for the ABA “GP|Solo Magazine” and CEO of a legal consulting firm. Here are four reasRead The Rest