Law Firm Billing

Keys to Effective Cash Flow Management

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 invoicing the client. Accounting for the ...

Michael Baker - June 18, 2012
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Project Management and Your Law Practice Management Software

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 collaboration ...

Brett Owens - May 2, 2012
disrespectful clients

How Do You Set Your Hourly Rates?

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 know your rate should be a fair price for the ...

Ruth Carter - February 15, 2012

Wise Up Before Value Billing

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. While the simplicity of this is compelling, ...

Toby Brown - January 5, 2012

First, Figure Out Your Billing Strategy

When I started my own commercial litigation boutique last year, I gave serious thought to abandoning the much-maligned billable hour. After all, we all know the criticisms: The billable hour rewards inefficiency, places the lawyer’s interests at ...

John H. Snyder - September 8, 2011

Planning for Flat-Fee Billing

Thoughtful planning will be the key to making flat-fee billing, or any other billing method, viable and successful. And no matter how you change your billing practices, timekeeping will play a critical role. Yes, clients can perceive the value ...

Frederick J. Esposito Jr. - May 24, 2011

Get What They Owe You

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 up your cash flow and ...

Edward Poll - May 17, 2011

Getting the Fee You Deserve

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 can you have the nerve to charge that?” When that ...

Bob Denney - March 29, 2011
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