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Browsing the 'Law Firm Finances' category

Demanding Payment When a CA Lawyer Can’t Withdraw From a Representation

Tuesday, September 20th, 2016

What can California lawyers do when they haven’t been paid, but they can’t withdraw from a representation? For example, suppose that the lawyer is representing a client in litigation and […]

law firms mismanagement of profit margins

Why Law Firms Mismanage Their Profit Margins

Tuesday, May 31st, 2016

Too many lawyers don’t know how much profit they generate from different kinds of work they do on behalf of clients. When I ask potential clients questions about their margins, […]

How to Evaluate a Lateral Partner Move

Tuesday, May 17th, 2016

Attorneys are changing law firms at an unprecedented rate. Many of those who are changing employers are of counsel, non-non-equity partners, and even associates with a relatively modest book of […]

walking away from an uncollected attorney fee

When to Walk Away From an Uncollected Attorney’s Fee

Monday, April 25th, 2016

In my experience consulting with law firms, almost every attorney knows what the rules say about collecting unpaid fees from an existing client. That’s because the applicable rules and regulations […]

How Lawyers Should Determine the Amount of a Flat Fee

Monday, April 11th, 2016

Most lawyers approach the process of quoting a flat fee in the wrong way. They often determine how much the flat fee should be based on an estimate of how […]

How to Avoid the Most Common Fee Setting Mistake Made by Lawyers

Monday, February 29th, 2016

A lawyer recently asked me whether she should accept an offer from a potential client to take on for $50,000 a lawsuit against a large entity that has a substantial […]

Five Strategies to get Lawyers to Submit Their Hours on Time

Monday, February 15th, 2016

Leaders of firms that charge by the hour often complain that they can’t get their lawyers to submit their hours on time. This, in turn, causes the firm to delay […]

Create a Six-Month Law Firm Budget

Monday, December 28th, 2015

It’s that time of year when we tend to think in terms of years. People create new year’s resolutions, even though there is a lot of evidence they don’t actually […]

Keep More Cash in the Register

Monday, December 14th, 2015

For too many law firms the holiday season is accompanied by an unfortunate tradition. It’s not the bad egg nog or the awkward silence that follows an inappropriate comment made […]

A Law Firm’s Best Friend Can Be Its Banker

Monday, September 21st, 2015

When did you last talk to your banker? Do you even know them by name or are they one of countless vice presidents who work for Bank of America, Wells […]