Paying In Cash? You’re Overpaying
I know. It’s a strange title. Having cash is always good. However, using cash to buy what you need isn’t always the best. Let me explain.
Solo & Small Firm Practice
Are You Missing Out on Clients Because You Don’t Accept Credit Cards?
By 2017, it is estimated that 95% of non-cash transactions will be paid by credit or debit cards. That leaves just a mere 5% paid through traditional paper check payments. Many attorneys are beginning to recognize if they don’t accept credit cards already, they may need to reconsider in order to facilitate collection of fees in the very near future.
When New Lawyers (and a Few Old) Leave Money On The Table For All the Wrong Reasons
If I hear one more lawyer tell me they referred out a case to another lawyer ‘just because’ and maybe that lawyer will send something their way down the road, I want to scream, ‘You are leaving money on the table.’ Do you not understand what a referral fee is? Do you not understand the value of this fee to provide you some financial stability for your practice?
All The Kings Horses Can’t Put Your Reputation Back Together Again.
You’re great reputation as a lawyer will only get you so far. If you don’t live up to that reputation, the damage will be difficult to repair.
Lawyer as Mentor. A Job You’ll Love.
Our profession has a long tradition of mentoring young attorneys. After several years of practice, you shift from mentee to mentor rather naturally. I believe in paying it forward, and I’ve been blessed to mentor some great young lawyers. And I continue to do because….
How Can I Compete on Value? Every Client Shops on Fees.
Every time a client makes the decision to retain a lawyer, they weigh the fee against the value of your services. If your fee is too high relative to the (perceived) value they will receive, they are not going to retain you. Therefore, if you don’t have a compelling value proposition, you must reduce your fee in order to get the client to retain you. And no lawyer really wants to do that, right? Because then you are competing based upon fees (cost proposition) and that is a losing game. So, what do you do?
The Immediate over The Important – The Solo’s Quandary
We tend to choose to do immediate over important tasks because of the good feeling we get from a quick resolution. Getting an immediate job completed satisfies us. It is a subtle but important distinction in how the human brain works. But is it undermining your effectiveness as a lawyer? Find out.
Are You Speaking a Different Language?
Unless you are actively looking for non-English speaking communities you may not even realize to the extent they are present in your area. These are families that experience marriage and custody issues, these are workers that have employment and injury-related issues, and these are entrepreneurs that have business formation needs. In fact, due to language barriers, more trivial matters such as traffic tickets and ordinance violations are areas of concern for them as well. But you don’t speak (fill in any language). Learn how to tap these communities even if you don’t speak their language.
I’ve Seen Fire and I’ve Seen Rain…
A disaster preparedness plan is an essential element of law practice management. After experiencing Hurricane Irene in 2011, Susan Cartier Liebel wrote about having a communication plan for emergencies. Here are a few more items to consider including in your plan.
Want to Stay Productive? Take Time Off.
Life is crazy and hectic for the solo practitioner and I’ve talked to many who feel they simply can’t leave their solo practice for any length of time because they wouldn’t really be able to relax or the business would fall apart without them. But if you must know the truth, not taking time away from work, meaningful, restorative time, is actually hurting your practice and your health in insidious ways. And this is supported through studies linked to below. Without taking a respite, our work becomes ineffective.
Featured Podcasts
The Gen Why Lawyer
Why Going Solo as a Young Attorney Could Be the Best Decision Ever with Susan Cartier Liebel from Solo Practice University®.
Staying Motivated While Starting A Solo Law Practice
On this episode of New Solo from the Legal Talk Network, Adriana Linares interviews Susan Cartier Liebel from Solo Practice University® about how to stay motivated throughout the process of starting a solo law practice.
Helping Lawyers Go Solo
Motivation in life is very important. I share seminal moments which have shaped me as a human being and helped me become who I am today.
Learning To Build And Run A Solo Practice
On this podcast from Lawpreneur Radio, Miranda McCroskey interviews Susan Cartier Liebel from Solo Practice University® about perceptions of fear, failure and other issues facing solos.
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Susan Cartier Liebel
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Mark Bassingthwaighte
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Debra Bruce
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Lee Burgess
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Karen Caffrey
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George Gold
Columnist
Suzanne Meehle
Columnist, Big Law to Solo
Cynthia Sharp
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Debra Vey Voda-Hamilton
Columnist, Solo Re-Zooming
Chelsea Williams
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Wendy Witt
Columnist, Million Dollar Attorney®
Allison Wood
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