The average attorney loses half of their money. Most aren’t being paid well for their time. Research shows the average utilization rate for law firms is 31 percent — this means attorneys are only spending 2.5 hours on billable work each day. Attorneys spend an average of 5.5 hours per
KaroshiLegal Practice management demands automationUnpleasant Downsides for the unpreparedDownside #1Downside #2 What’s your billable goal? Is it 1,950 billable hours per year? 2,500 billable hours? 3,000? Attorneys are driven to produce more billable work in less time. Thanks to industry disruption and pressure from the competition, firms are demanding more
It’s no secret, everyone hates timekeeping. No two attorneys track their time the same way. They use a wide variety of formats, billing increments and details in their time entries. It’s a nightmare for managing partners and administrators to sort through. You didn’t sign up for this. Managing partners aren’t
Why are lawyers so expensive? This was a question posed to the pundits at Law Crossing. It’s a question floating in the back of your client’s mind. It’s a question that’s often brushed off. But it shouldn’t be. That question rears its ugly head again at a very unfortunate time
“It’s foolish to follow trends.” After all, you have a law firm to run. You have client matters to attend to, employees you’ll need to manage and the logistics of successful practice management. Trends are the absolute last thing on your mind. But trends management is one of the first
“I’m not paying for that.” In Manigault v. Daly & Sorenson, LLC, a client accused her law firm of abusing minimum billing increments. She stated her firm used 15-minute increments to bill her when the “specified work took far less time to accomplish.” She refused to pay her $84,500 bill.