Collection work is something that can't wait, because a dollar of receivables doesn't stay a dollar for long. The dollar the office bills this month will be worth only 50 cents six months from now. In a year, it will be worth no more than 23 cents and probably more in the range of 19 to 20 cents. After two years, a 5-cent recovery is about the best any office can expect. Much … [Read more...] about Keep your accounts receivable young
General
7 ways to make your firm stand out among your competition
The competition for clients is fierce and law firms are marketing heavily, says marketing expert Shawn McNalis. That means a firm has to make itself stand out among a deluge of marketing messages and try for "top-of-mind awareness." Surprisingly, that can be done without much expense and even without a marketing department. The key, she says, is to focus on the personal side … [Read more...] about 7 ways to make your firm stand out among your competition
5 benefits of rules-based calendaring software
1. Use of automated rules-based calendaring software may entitle your firm to discounts for malpractice insurance coverage. Talk to your provider; 2. Automated rules-based systems reduce human errors; 3. The software adjusts for local court rules and holidays; 4. Some programs come with predetermined reminder dates for different types of entries. When the calendar date is … [Read more...] about 5 benefits of rules-based calendaring software
Job descriptions make paralegals a profit center
A Phoenix firm realized its paralegal force was not paying for itself in billings. Instead, the group was not only unsupervised but was being given a lot of non-billable work assignments,. In response, the firm set billing requirements, drew up a paralegal job description, and, to encourage its paralegals to exceed the minimum, developed an objective bonus system. Along with … [Read more...] about Job descriptions make paralegals a profit center
Why your first act as a new administrator should be to rearrange the furniture
One of the most difficult ways to become a manager is to be promoted from within. For a Colorado administrator, however, moving up was even more difficult because the promotion came with a directive to change the working atmosphere of the office. The previous administrator, while knowledgeable, was not someone who encouraged a welcoming atmosphere, says the … [Read more...] about Why your first act as a new administrator should be to rearrange the furniture
Measure your associates’ satisfaction to keep them on board
Do you know whether or not your firm's associates are content or if there is a mass exodus in your future? Find out with a well-crafted survey. Your firm's greatest asset is its associates, yet associate satisfaction is often overlooked. To keep those associates happy, you need to find out what's making them unhappy, and do that with frequent and focused surveys. … [Read more...] about Measure your associates’ satisfaction to keep them on board
How one California law firm regained its corporate culture and improved business
How do you grow your firm and still maintain a close-knit team? Jason Pink, Administrator of Gianelli & Associates in Modesto, California, tells how their firm handled it. We're a small, but busy, 9-attorney law firm. When we outgrew the 6,500 square foot building we were in, we added an annex at the next door building. We moved three attorneys and a few staff over there. … [Read more...] about How one California law firm regained its corporate culture and improved business
Three weekly meetings to keep everybody updated
In its annual management performance review, an Illinois firm asked everybody, "What is the main thing that bothers you that could be improved?" Up and down the line, the answer was communication. The problem was not a new one. For almost 20 years, lack of communication had been a problem, says the administrator of the firm. Everyone felt it, from staff to partners. … [Read more...] about Three weekly meetings to keep everybody updated
How and why you need to carefully screen cold calls from potential new clients
What's your firm's process for dealing with a potential new client? What happens when someone sends the firm an email asking for a quote for a real estate transaction or when a frantic caller leaves a long, detailed voice mail message about why she wasn't to blame for the fatal car crash being covered on the morning news? Who takes the call? How are calls prioritized? And is … [Read more...] about How and why you need to carefully screen cold calls from potential new clients
3 bonus formulas that boost staff productivity
What bonuses should the office give, and how can it design the bonuses to increase productivity? As to the amount to give, a few consultants recommend setting aside as much as 17 per cent to 21 per cent of the monthly profits for staff bonuses. Most, however, recommend less. Whatever amount the office opts to allow, here are some ways to mete it out. Formula 1 The traditional … [Read more...] about 3 bonus formulas that boost staff productivity