A managing partner should never have to make decisions based on speculation. The data exists, and so does the technology, to gather and make sense of it. But without knowing what to collect or how to assess the data, it can be challenging to translate findings into strategy. In this guide, we offer methods and solutions you can implement today to navigate the domains of financial, case, and staff management so you can make data-backed decisions, faster. Read on.
Free Guide: What Can LPMS Do For You?
It’s not uncommon for law firms to view technology as being grafted onto existing, offline office systems. Yet, one of the major advantages of a law practice management system (LPMS) is that it’s a holistic solution for your law firm. In this ebook, Jared Correia Esq covers 5 key processes in practice management that can be addressed through the consistent use of a law practice management system.
Download What Law Practice Management Software Can Do For Your Firm
Chasing down non-paying clients is the bane of most lawyers’ existence. And when you’re already spending an additional three and a half weeks on unplanned work every year, it makes settling overdue accounts that much more frustrating.
While you may not be able to avoid ever having to deal with non-paying clients, here are three things you can do throughout a case to reduce the incidence of non-payment.
Managing a law firm means running through a number of repetitive processes daily to stay on task — from client intake to document generation. These necessary though tedious tasks can take their toll on the efficiency of your practice by draining hours from your workday. The good news: almost any aspect of your law practice can be automated.
Download the Tips for Automating Your Law Practice to learn.
The truth is not all legal work must be performed by an attorney; there’s plenty of opportunity to strategically spread around the workload without forfeiting quality or momentum. Enter effective delegation, which allows your busy firm to increase its output significantly despite limited resources — all naysaying to the contrary.
Download “How to Delegate Efficiently and Effectively”
The 2017 Clio Legal Trends Report contained many shocking statistics about the daily habits and operations of practicing attorneys, but perhaps most jaw-dropping were the statistics on the tasks consuming the majority of attorneys’ precious time, and just as importantly, those tasks not receiving nearly enough of their attention:
The average attorney spends only 1.9 hours per day on billable work.
Attorneys are interrupted on average 6 times per day, resulting in nearly 2 hours of lost time.
Only 86% of revenue from billed time is ever collected.
Take a look at the state of the industry in this infographic, which draws from data in the Clio report…..
Type the name of your law firm into any search engine and the results are sure to yield a series of reviews in tandem with your business information. These star ratings matter. They’re the first thing consumers take into account when pursuing your services. How are you going to handle it?
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)
To this day, one of the most common challenges for solo and small firm lawyers is getting paid. Your payment structure notwithstanding, a smooth billing process is predicated on honest and open communication — particularly during your consultation. Paired with a dependable, secure tech solution, the latest billing best practices will help you achieve a significant drop in friction, avoid awkward client interactions, and ultimately collect on more unpaid invoices.
To help solo and small firm attorneys maintain a more steady cash flow and master their law firm’s finances, here are nine tips for getting paid consistently, on time, and without the drama.