Law firms don’t do price rises nearly enough.  Law firm pricing barely keeps up with inflation as it is.  And with the current rate of inflation, law firm pricing is likely being lapped.  That means that, even if your gross law firm revenue is rising year over year, the purchasing power you accrue from that revenue is declining.

So it makes sense to perform, at least, a basic financial analysis before making a new hire.  For attorney hires, this can be simpler than for staff hires, since staff persons may not bill directly. 

So, if you want to get to the bottom of how much you’re making these days, you have to pay more attention to your budget, including attributing expenses at a much deeper level than you are right now – because more sophisticated calculations require more specific data inputs.

You can’t be everywhere, all at once – so, stop trying to be.

Now, most people are visual learners.  And the text-based model for workflow management doesn’t work for everybody. Fine, okay.  But, what’s the alternative? Video is a good option: it’s the most visual of formats. 

Generally speaking, it’s less unwieldy to get another lawyer to write something nice about, especially if you do the same for them, or if the two of you regularly pass referrals back and forth.

Law firms have traditionally extended credit to clients by billing in arrears.  This is, in fact, the most common way for law firms using an hourly billing model to invoice their clients.