How much a law firm should pay an associate attorney is an age-old question that many law firms consider. Many law firms debate this question, making it difficult for them to develop a workable formula that works within their budget. Law firms often gravitate to one of two extremes. One extreme is that law firms…
Category: Management
Law firms need to be thinking about ChatGPT
For a long time now, Google has been a major source of potential clients for law firms. Many new clients come from individuals doing Google searches online. Whether a law firm was ranking high organically or through paid advertisements, law firms have had to worry about how they appear on Google from a marketing perspective….
Ensuring competence, diligence, and communication
Having a large number of clients in a law firm is vital. To attract new clients, law firms must have a successful marketing plan. It is also crucial to make as many clients as possible happy to ensure they refer others to your law firm. However, after successfully acquiring numerous clients, law firms must ensure…
Proactively meeting productivity metrics
Meeting productivity metrics within a law firm is vital. Employees must meet their productivity metrics for a law firm to meet its obligations. Law firms have vast obligations from payroll, rent, insurance, utilities, supplies, taxes, and other expenses. Law firms that bill hourly likely have billable hours and accounts receivable requirements. Similarly, law firms that…
Few employees are reading your emails
In an article I wrote long ago, I encouraged law firm managers and owners not to manage by email. Email is mainly ineffective for conveying messages or instructions to specific employees. Emails can be helpful when conveying firm-wide messages. They can also be used if a law firm is trying to document something for legal…
Freelancers can help law firms
Many law firms have a lot of administrative work that needs to be done, including marketing, graphic design, recruiting, human resources, bookkeeping, and other business services. However, it is cost-prohibitive for many law firms to hire the folks you need to complete the work internally. As a result, some law firms never get to many…
To expand, does it make sense to buy other law firms?
Law firms looking to expand into new markets must determine the best strategy. Some start from scratch, open a satellite office and attempt to grow it. Others seek to buy existing law firms and put them under their umbrella. The potential pros and cons of each strategy are below. Does Buying Existing Law Firms Make…
What’s the average law firm growth rate?
Many law firm owners and managers want to grow or scale their firms. If they can increase their firm, they can pay themselves and their employees more. With more income, law firms can do other great things, like buy new equipment, obtain better benefits, and maybe even expand their law firm. It can even allow…
Major and minor matters: Where are you focusing your time?
As a law firm manager or owner, there is so much time in the day. Where a law manager focuses their time and attention can go a long way toward the success or failure of their law firm. With clients, employees, third-party vendors, solicitors, and others, there are time bandits all around. Everybody is going…
Voicemail is the enemy with potential clients
Obtaining new clientele is essential for most law firms. New clients ensure that the lights stay on and that legal staff have the work to remain profitable and generate income for the firm. Prospective clients can reach out in multiple ways today. With most law firms, potential clients can reach out through phone calls, emails,…
The harmless lunch meeting
Lunch meetings are common for law firm managers and owners. If you run a successful law firm with many social, business, and friend contacts, they often ask you to lunch. Going to lunch with others is often a great thing to do. You spread your wings and meet others by lunch, often leading to referrals….
Are you utilizing performance improvement plans?
Law firms often have employees falling below expectations in a particular area. An employee might do many good things for the law firm and the clients. But there could be an area where they are significantly deficient. The possibilities are endless. However, the law firm might not like the employee’s work product on cases or…