Your Reasons to Not Go Solo Are Wrong: The Top 10 Fears of Going Solo

As a consultant, I’ve worked with many lawyers frustrated by their law firm’s dysfunction. For some, an obvious solution to escape the toxic environment is to go solo and hang out the proverbial shingle. But counterintuitively, these same lawyers who can confidently tell their clients what to do when faced with legal problems don’t have the faith in themselves to strike out on their own. Read full article on Attorney At Work Read More
Categories: Practice Management

The Problem of Too Few Rural Lawyers

About 10 years ago, in “Be a Small Town Lawyer,” I wrote about the shortage of lawyers in rural America and the abundant career opportunities for attorneys willing to venture outside of metropolitan areas. What has changed since then? Not much. The shortage is very real. Here are some recent statistics. ... Read More
Categories: Practice Management

Adding Partners When You’re a Small Firm Owner

You’ve successfully owned your law firm for a decade and have employed two lawyers for most of that time. Both are all pretty decent but are not superstars. One day, they come to you and ask about the possibility of becoming partial equity owners. Your initial thinking is “I knew this day would probably come. Now, what do I do?” Well, here’s what you do.

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Categories: Practice Management

What’s New in Law Firm Ownership?

Most lawyers are familiar with Rule 5.4 of the Model Rules of Professional Conduct. In a nutshell, it says that lawyers must own law firms. Virtually every state adopted the rule. The purpose is supposedly to prevent nonlawyers from interfering with a lawyer’s independent and professional judgment. ... Read More
Categories: Practice Management

Buying a Firm That’s Dependent on Marketing & Advertising Dollars

When purchasing a law practice, buyers seek revenue they ordinarily could not obtain on their own. For example, buyers hope that, with the proper introductions, the relationships that a seller has with repeat clients can be successfully transitioned to the buyer. The same can be said for a seller’s referral network, be they former clients or other professionals.

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Categories: Practice Management

Top 6 Reasons to Hire a Paralegal Over a Lawyer

Your solo or small law firm is busier than ever and you desperately need another warm body to complete the work. Resist the knee-jerk reaction to hire another lawyer. Instead, assess whether hiring a paralegal can fill the need. You’ll find that in most practice areas it can. ... Read More
Categories: Practice Management

Pro Bono: Doing Good Feels Good

In these pandemic days, many Americans have taken economic hits that have only led to further legal problems. But those less fortunate are often left to face their legal problems alone because they can’t afford legal counsel. ... Read More
Categories: Practice Management

Don’t Be Afraid to Raise Your Legal Fees

It’s getting to be that time of year when lawyers decide whether to raise their hourly rates or fixed fees when the new year begins. I suspect that many will fear doing so in the middle of a pandemic. Others always seem fearful of increasing legal fees, pandemic or no pandemic. My advice — with very limited exceptions — is to go for it. Clients are never as price-sensitive as you think. ... Read More
Categories: Practice Management

Your Competition Is Lazy: Three Things Small Law Firms Can Do to Find New Business Now

Thomson Reuters recently completed its fourth State of U.S. Small Law Firms survey. The findings were summarized here on Attorney at Work. That post’s title, “Small Law Firms Still Struggling With Finding New Business and Managing Administrative Tasks,” accurately reflects the overall state of the world of small law firms. ... Read More
Categories: Practice Management

Does Passion Equal Happiness on the Job?

During these pandemic days, everyone seems to be reevaluating many aspects of life, including career options. Have you recently wished you were more “passionate” about your work? And if you were, would it make a difference about how you felt about your career? ... Read More
Categories: Practice Management