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Law firm owners frequently ask me how they can establish themselves as experts in their field. While there are many ways to do this, I believe the three most effective methods are writing articles, speaking at events, and networking with other professionals. Writing...

According to a new study, it takes the average person 10 years to generate $1 million in their law firm. The study, conducted by the law firm Jones Day, found that it takes an average of 10 years for a law firm to generate $1 million in revenue. The study also found...

When should you turn down a case or refuse to take it on? And is Declining Clients for Law Firms the right thing to do? There are a few instances where it is appropriate to do so: It may create a conflict of interest if you already represent a client in a similar...

When it comes to trust accounts, keeping a record of amounts, transactions, and details is necessary. However, they can be confusing and complex, especially for new lawyers or firms. That’s why it’s ideal for keeping track of individual client funds. If you’re...

You may have already heard about trust accounting when dealing with finances. We all know that a trust legally designates a trustee asset management of a grantor who is either deceased or incapacitated. Trust accounting, on the other hand, records both the trust’s...

What's the point of going to Miami if you can't have a little fun? It can't be all business and no play. During our business retreat, we stayed at a mansion. We had a pool in the backyard where we lounged in the evenings and got to know each other personally. Members...

A billing workflow is a system that law firms use to keep track of the hours worked by their attorneys and staff and any expenses incurred to generate invoices for clients. The workflow usually begins with timekeepers entering their hours into the law firm’s time and...

As a law firm, one of the most important things to do is keep track of your finances. Ensuring that you are making a profit. One way to do this is to calculate how much profit you make per client. To do this, you will need to track your income and expenses for each...

No one likes paying taxes, but unfortunately, it's a necessary part of life. Fortunately, there are ways to minimize your tax liability and ensure you're only paying what you owe. One way to do this is working with a CPA. Certified Public Accountants  are experts in...

Sales can be a demanding profession, whether working in a law firm or any other type of business. It's essential to build relationships with potential clients and understand their needs. But it's also critical to close a sale and get the client to sign on the dotted...

A law firm can be an excellent investment for the entrepreneurial attorney. It can provide a steady income and help you grow your business. But, like any other business, a law firm requires capital. It is where a business loan comes in. A business loan is a loan that...