Practicing law for the first time comes with its fair share of stressors and unknowns. One of the first things you’ll need to determine is how much you can expect to charge for your services. Will you be able to set an hourly rate that’s reasonable for an attorney in your area, and provides enough income to meet your needs? (Includes sample forms)
Putting bills together, invoicing, and tracking down payments can all take a serious toll on an attorney – costing them significant time, money, and other resources. If you look at an average attorney’s receivables, it can be anywhere from 30 to 90 days before they get paid for work they’ve already done. Such an inconsistent and unpredictable cash flow makes it incredibly difficult to run, let alone grow, a successful firm. How does a busy solo address this?