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Lawyers from around the country continue to call me, asking for information on how to sell their practices. In response,we recently opened our LawBiz® Registry. Visit the archives for articles about buying and selling law practices and other ways to monetize the goodwill that you have spent so many years to build. In addition, you may want to buy one of our books or tapes in our store on the profitable law office exit strategy or planning for your next 6000 days.
Contact me at any time if you have additional questions.
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I’m proud to say that San Bernardino County Law Library is featuring my recent book on its site.
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This is an easy thirty-minute read for any busy lawyer on the go. You’ll learn Ed’s A to Z basics for managing and running a successful law business without getting into too many nitty-gritty details, numbers, and long examples.
From managing your cash flow and collections process to weighing the ROI of your technology purchases, this 60-page Special Report will give you the essentials on how to make more profitable decisions concerning every part of your law business. You’ll also see the hidden costs hurting your bottom line (for example, did you know that you waste $80,000 of billable time every year on email?). Case studies bring the valuable information in this book to life, making it a fun, fast read that will change your business overnight.
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Do you want to:
- Be more successful by design than by accident?
- Be more profitable?
- Attract more clients?
- Have your clients pay on time?
- Have greater control of your practice?
- Have greater peace of mind?
If your answer is yes to any one of these questions, you must read this book. Ed Poll had simplified the mystical process of operating a law practice so anyone can be more effective with his/her clients and become more profitable.
This expanded edition adds 27 new chapters on marketing, personnel issues, technology, time management, clients’ trust accounting, opening a new office, and changing from one practice to another. As the author says in his Preface to the Second Edition, “when we lawyers act in a more business-like manner, we tend to be more effective in the delivery of our services.” The many ready-to-use forms and charts are available on a disk in .pdf format.
Take the first step in achieving a more successful practice – order today to get your own copy of the expanded Second Edition of Attorney and Law Firm Guide to The Business of Law® today!
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Following the worst economic crisis since the Great Depression, and facing a sea change in clients’ demands and expectations, law firms must respond and adapt quickly and effectively. Law firms must choose the kind of law practice they will be; the marketing and business development tactics they will use; the overhead that is critical to their functioning; how to price, bill and collect for services; and how to manage the cash flow cycle. Success lies in identifying and capturing the right kinds of clients, providing the services those clients need in ways that add value, and ensuring prompt payment and the ability to grow profits. This book, based on the experiences of the author and his clients over 20 years of coaching and consulting, provides the keys to successfully thriving in the new era.
“No matter how you slice it, there is no substitute for wisdom and experience. . . .Ed Poll has demonstrated both in this eye-opening book about the essential elements of running a profitable law practice. . . .He provides practical wisdom along with simple ways to adopt and incorporate best practices for each. After explaining the pros and cons of every decision, he makes recommendations and provides useful guides disguised as key principles…. Buy the book so you too can access Ed’s wisdom and experience. It’s worth much more than the investment.” – Stewart L. Levine. Esq.
Buy this book
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This is an easy thirty-minute read for any busy lawyer on the go. You’ll learn Ed’s A to Z basics for managing and running a successful law business without getting into too many nitty-gritty details, numbers, and long examples.
From managing your cash flow and collections process to weighing the ROI of your technology purchases, this 20-page Special Report will give you the essentials on how to make more profitable decisions concerning every part of your law business. You’ll also see the hidden costs hurting your bottom line (for example, did you know that you waste $80,000 of billable time every year on email?). Case studies bring the valuable information in this book to life, making it a fun, fast read that will change your business overnight.
You’ll learn how to:
- Follow the 5 Steps of Law Business Planning
- Rate the profitability and performance of your practice
- Manage your cash flow more effectively
- Shorten your billing cycle
- Get clients to pay more – and on time
- Change your billing method so that clients don’t get sticker shock when they read their bill
- Raise fees without any clients complaining
- Understand the impact each client has on your business
- Effectively balance your client portfolio so you never get stuck for cash when a heavy hitter leaves
“I think this book is a must read for any attorney who wants to achieve personal financial success in the practice of law. Many lawyers who are highly capable attorneys are not equipped to be financially successful but this book is a significant tool to change that. The book provides a foundation for further study of the business competencies a successful lawyer needs.” — RW, Minnesota
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In this follow-up companion volume to Ed Poll’s highly praised first Secrets collection, you’ll learn how to be even more efficient, more effective and more profitable in your practice. You’ll get topflight tips for how to:
- Collaborate with clients
- Succeed in collecting your fees
- Open your own law office
- Maximize the return on your technology investment
- Make the most of outsourcing services
- Exceed your clients’ expectations
- Fine-tune disaster and recovery planning
- Build a Weblog strategy
- Raise your rates
- And a whole lot more
“You don’t see many stories about legal firms making change work! Help is on the way. Ed Poll’s book is a must read for any leader who wants to win at the great game of business!” – Terry Paulson, PhD, columnist, business speaker, and author of They Shoot Managers Don’t’ They?
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“Law firms today are moving toward operating in a more businesslike fashion, rather than just as a group of professionals–and those that are truly businesslike will recognize that a key to responsible management is establishing a strong banking relationship. Importantly, banks are looking for profitable new niches so law firms and banks are natural allies in today’s competitive world.
… When you have the right relationship, a good banker will be creative in helping you become aware of opportunities to grow your business in ways you didn’t know existed. The practical steps that Ed Poll provides in this little volume cover everything from how to choose a bank that’s right for you, to how to improve your credit score and how to negotiate the best commercial loan to meet your needs. ….
This LawBiz® Special Report is a must-read if you want to take your law firm to a higher plateau”
— Howard Putnam, Former CEO of Southwest Airlines and Braniff Airlines
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Every law firm is a business, and every business has three common elements: Get the work; do the work; and get paid. This publication shows you how these issues intersect and guides you through an integrated approach to growing your practice and your profits—while simultaneously adding value to your billings and services. The vital concepts in realizing new value include:
- Engagement agreement essentials for lawyer and client
- Easy-to-understand pricing methods that convey meaning to clients
- Collection strategies that secure prompt payments
- Compensation policies that serve the firm’s best interests
“There is a reason Ed Poll has enjoyed longstanding success as a coach and consultant to lawyers–because he is the real deal. His Law Firm Fees & Compensation gives detailed information on how to incorporate value billing concepts in a practical and ethical manner, while giving clients certainty and transparency. And don’t let the title fool you–the book works equally well for solos.” — Carolyn Elefant, Author of Solo by Choice: How to Be the Lawyer You Always Wanted to Be
“Ed Poll’s new report is a must-read for all lawyers. It covers everything from alternatives to the billable hour and clients’ perceptions of value, to associate compensation, fee-splitting, collections, and trust accounts–all in one easy-to-read volume. This report is right in line with Poll’s emphasis on the business aspects of practicing law and is a comprehensive reference that lawyers are sure to return to again and again.” — Allison C. Shields, Esq., LegalEase Consulting
“In his new book, Law Firm Fees & Compensation: Value & Growth Dynamics, Edward Poll is determined to force lawyers to act like the business owners and operators they are. In the most practical terms, this means that “Failure to communicate often means failure to get paid.” This book outlines the ways this warning translates into law firm management, both internally and with clients.” — Michael Brychel, Senior Legal Auditor at Stuart Maue.
“We hear plenty of talk about the demise of the billable hour, but little substantive discussion about what method ought to replace it. Sure, there’s mention of alternatives like flat fee billing, hybrids and “value billing,” you don’t always find much “there there.” Plus, many non-lawyer advocates of value billing fail to account for our professional obligation to ensure that our fees are reasonable. That’s one reason why I’ve always been a fan of Ed Poll – he’s actually familiar with the code of professional responsibility and when he gives advice on fees, you can be confident that it will pass muster. He’s also big on substance, and his recent book (which I previewed), Law Firm Fees and Compensation, offers a detailed discussion on setting fees using a variety of methodologies. Poll also discusses retainer agreements, trust accounts and collecting fees. In short, he fully discusses the only two questions that matter when it comes to fees: How much should I charge, and how do I get paid? While the book does include some material suitable for larger firms, at least 85 percent of it is relevant to solo and small firm practitioners – and offers information that I’ve not seen elsewhere in such detail. In short, it’s a recommended read.” — Carolyn Elefant, MyShingle.com
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