LawBiz® Blog

LawBiz® Blog

Your Practical Guide to Profit ™.

Tag Archives: Collections

LawBiz® Legal Pad: Tips for Increased Revenue

Posted in Videos
Ed offers 5 ways to increase your law firm’s revenue. 1. Emphasize collections. 2. Hire lateral lawyers to meet specific demands, a new practice area, a new need. 3. Leverage technology. 4. Create a cooperative compensation model that emphasizes the law firm as an institution. 5. Outsource functions that are better done by others. Delegate… Continue Reading

Collecting Your Fee is still the key

Posted in Cash Flow - Finances, Marketing
Georgetown Law School’s Center for the Study of the Legal Profession recently suggested that earlier realization rates of 92% have gone down to a historic low of 85%. That means for every dollar billed, the law firm is collecting only 85 cents. My suspicion is that these numbers are reflective of "Big Law," and not … Continue Reading

Tips for Increased Revenue

Posted in Technology, Videos
Ed offers 5 ways to increase your law firm’s revenue. 1. Emphasize collections. 2. Hire lateral lawyers to meet specific demands, a new practice area, a new need. 3. Leverage technology. 4. Create a cooperative compensation model that emphasizes the law firm as an institution. 5. Outsource functions that are better done by others. Delegate… Continue Reading

Collecting Your Fee mentioned

Posted in Cash Flow - Finances
Don Downey graciously mentioned our book, Collecting Your Fee: Getting Paid from Intake to Invoice (ABA 2003) with the following comment:  “… a client who genuinely respects you and the work you did will pay your bill in a timely manner.” ED Poll (2003) In meeting Ed a few years ago and having the opportunity … Continue Reading