Managing the "Business" of Practicing Law(R)
Elizabeth M. Miller, MBA
Law Practice Management Consultant
Each law firm has the ability to reach its’ potential, if lawyers concentrated on practicing law, rather than having to worry about managing the business of practicing law®. Whether it is efficiency, productivity or organization that is impeding your firm’s ability to exceed its expectations and provide exceptional customer service, we can help.
There are many important parts of running a law firm. When attorneys get bogged down with managing the business of practicing law, they can end up working 80 or 90 hours a week. Why? Because they think they have to do everything themselves. This ends up being either a recipe for burn-out, or, they get so fed up that they close the practice and get a job. We will help you to manage the business of practicing law®, and with more time to focus on your clients’ needs, you can spend less time in the office.
We offer administrative services, business coaching, and customized strategic business plans.
Remember - RESULTS MATTER!
Call me at 813-340-9569 for a free consultation
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It's Here!! - Buy it on Amazon
Billing is an essential aspect of running a successful law practice. It is how your law firm gets paid for its work, takes care of overhead bills, pays employees, and how you compensate yourself. If done incorrectly, your billing practices can threaten the very existence of your firm. Tracking and billing time to clients – whether it is hourly, flat fee, value or some hybrid thereof – is an important part of working in a law firm. Even in a contingency case you need to make sure your firm is reimbursed for costs.
Too often over the years, I have heard the excuses from attorneys about why they have not done their billing. Usually, the excuse is “I am too busy – I will get to it when I can.” Bluntly put, that is a poor excuse. If your firm is that busy, outsource your billing. The benefits of outsourcing your billing work and getting paid regularly will far outweigh the cost of outsourcing. My attorney/clients have a less than 5% AR.
Less than 5% AR!!
This book was written to help attorneys understand that billing needs to be a regular part of the process of handling a client’s case. This will result in being timely paid for your work, and as I like to put it, “not get stuck holding the money bag”. The billing guidelines will enable attorneys to bill their clients every 30 days, reconcile their trust accounts on a regular basis and keep the cash flow coming in on a regular basis.