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Law Firm Billing

business lessons

Fee Tale: This Is Not Your Father’s Client Engagement Agreement

Jared Correia |Client engagement agreements, or fee agreements, are an underused tool in a lawyer's arsenal. Here are 5 smart upgrades

Jared Correia - August 28, 2013
best invoices

Lawyer Billing Is Marketing: 11 Ways to Write Better Invoices and Time Entries

Last month, I wrote about the importance of communication when it comes to pricing your legal services ("Good Lawyers Talk Money with Their Clients"). Once you have the engagement, your invoices become a critical communication method. In fact, I ...

Sally J. Schmidt - August 22, 2013

Make the Timekeeping Honor Roll

Wise lawyers know that contemporaneous timekeeping is essential to the success of any fee arrangement—and to the overall financial success of your law firm. Lawyers who reconstruct their time weekly tend to lose 25 to 30 percent of their time, ...

Frederick J. Esposito Jr. - June 14, 2013

Stage Your Own Economic Recovery

It's been four years since the start of the great recession (or “lesser depression”) and business owners are acknowledging that recovery is going to be a long, slow process. With no springboard in sight, some economists are calling for another ...

Michael Baker - November 20, 2012

Setting a Dollar Value for Your Legal Services

If you read my post on "How Hourly Billing Kills Law Firms," maybe you’ve been inspired to figure out how to price certain legal services based on their value to a client, not the number of hours you spent. Now all you have to do is figure out ...

Antigone Peyton - October 11, 2012

How Hourly Billing Kills Law Firms

Lawyers have been talking about and wrestling with “alternative billing methods” or "alternative fee agreements" for a decade or more. Recently, however, the conversation has shifted to “value billing.” Well, that’s a concept we can get ...

Antigone Peyton - September 25, 2012

It’s About Time You Got Paid

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 help, of ...

Kevin Harris - July 10, 2012

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
Hand holding clock

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
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