The competition is severe. There are approximately 1.5 million JD holders in the United States, with 1.34 million licensed to practice law. Of these, roughly 354,000 attorneys are solo practitioners. The market is flooded. The Bureau of Labor Statistics projects 43,800 new jobs from 2014 to 2024. They also project
Is an MBA useful? To run your small law firm, it would be, right? Many pundits feel it isn’t. Their argument focuses on the fact that an MBA doesn’t teach you the real world strategies and tactics you need to build, grow and scale a successful business. They’re right, it
How is a recurring payment plan a potential solution for your billing cycle? What’s the one billing problem that’s often ignored? The missed billing cycle. If you’re managing your firm know what I’m talking about. Lost income due to a missed billing cycle. This occurs for a variety of reasons.
Cash-poor businesses. A postmortem analysis by CB Insights listed “ran out of cash” as the second most common reason for business failure. While it’s typically a problem for startups and new firms, it’s also a problem for established law firms. I’m talking about feast or famine. One minute your firm
Can online payments truly make a different to your bottom line? It’s there in the back of your mind. The reason why so many attorneys choose to collect larger retainer fees upfront. Doing so relieves a few of their secret and unspoken fears. Get as much as you can now.
It’s all worthless. Not your final year of law school, of course, but your GPA Laszlo Bock, former head of HR at Google had this to say about GPAs and test scores. “GPAs are worthless as a criteria for hiring, and test scores are worthless.“ This isn’t surprising, is it?