Never Assume “It’s All Good” When Purchasing a Law Practice

Assumptions. We all make them on a daily basis. In fact, as I see it, doing so allows most days to progress with some level of predictability. For example, I often assume all my tech will function problem free, the power will stay on, and that if I need anything from anyone at the office, they’ll be available. There’s nothing wrong with my making such assumptions unless, of course, it turns out one of them is wrong and I’m not prepared to deal with the consequences. Keeping this in mind, let’s now narrow the focus and address some of the ethical missteps that can lead to trouble for the buyer of a law practice when it’s the buyer whose running with assumptions.

The Ever Evolving Law Firm Fee Structure – Guest Lecture with Jared Correia

In the late 90′s and definitely into the 21st century, the law firm fee structure is morphing and changing under tremendous pressure from clients and the economy. But where do new solos (and some not-so-new) lawyers go to learn about the what fee structures are out there? Jared and I discuss the pressures and those very fee structures. Join us!

Blueprint for Rainmaking Success – Part 3 Effective Goal Setting

To state the obvious, being a lawyer is stressful; being a solo practitioner 10 x more so because, even if you have administrative help, you are responsible for everything in order to become successful. And so, you need to find a way to not only have a great career, but a great life as well.

This is why I suggest, and truly believe, that you must have goals in 5 different areas of life….

I Know Cyber Security is a Headache. Do It Anyway.

A few weeks ago, I had one of those days. You know, a day where things just don’t seem to make much sense. The day started out with a training session on ransomware. Unfortunately, as such programs are apt to do, it made me start to think that selling everything I have, disconnecting from the wired world, and moving to some remote island where I could live out my life selling tapas on the beach might be a really good idea. I suspect more than a few of you might have responded similarly.

Anyway, what got me going was learning about one of the new business models hackers have come up with. In short, after a computer or network is breached and the data encrypted, hackers are starting to offer their victims two choices instead of the normal one, which was to pay the ransom amount in order to obtain the decryption key and get their files back. Now the victim can either pay the ransom or they can help spread the ransomware by sharing a malicious link with two people they know. If those two unsuspecting folks become infected and pay the ransom within seven days, then the initial victim would receive the decryption key and be able to recover their files for free. Now isn’t this a heartwarming development.

Blueprint for Success – Part 2: Your Ideal Clients

While becoming a practice area specialist can result in bringing in legal matters, it is becoming harder and harder to obtain clients just because you practice law in a specific area. This is because the amount of competition out there is tremendous. For example, according to the ABA website, there are more than 25,000 members of the Labor and Employment Law Section (and remember, not every attorney in the United States is a member of the ABA, so the number of attorneys practicing labor and employment law is almost definitely considerably higher). Competition for clients can be ferocious.

Interviewing Rezooming Pros – Issue 1 with Amy Gewirtz

Over the past five years, I have written about how to cope with many issues facing rezooming attorneys. This year I hope to inspire you by sharing the rezooming success stories of people just like you who have re-started their legal career. They decided to shift back to practicing law from a different career or a hiatus. These stories will inspire you while providing a suggested road map to success.

Blueprint for Success – Part 1: Why You Need a Rainmaking Plan

In 1927 when my grandfather began practicing law, this was a viable method of marketing and rainmaking. There were only 131,000 attorneys in the United States. If you averaged this out, there were only 2,620 lawyers in each state (yes, I know that some states and cities had more attorneys than others, I’m making a point here). You could literally hang a sign outside and people would hire you.

Now, 90 years later, in 2017, this method of marketing and business development is just not going to work. According to the ABA there are more than 1.3 million attorneys in the country and unless you find a way to let people know what you do, they will never hire you.

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