LawBiz® Blog

LawBiz® Blog

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Category Archives: Marketing

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Collecting Your Fee is still the key

Posted in Cash Flow - Finances, Marketing
Georgetown Law School’s Center for the Study of the Legal Profession recently suggested that earlier realization rates of 92% have gone down to a historic low of 85%. That means for every dollar billed, the law firm is collecting only 85 cents. My suspicion is that these numbers are reflective of "Big Law," and not… Continue Reading

Lawyers for sale

Posted in Cash Flow - Finances, Management, Marketing
In today’s Wall Street Journal, the writer suggests that high priced lawyers are for sale, that is, that clients are pushing back and demanding lower fees irrespective of the stated hourly rates of their lawyers. The reporter’s perspective is skewed only to the larger law firms, “Big Law.”  Small firm and sole practitioners have always… Continue Reading

“Caveat Emptor” Is No Way to Practice Law

Posted in Management, Marketing
In the Opinion section of today’s Wall Street Journal, two fellows from the Brookings Institute espouse their philosophy for deregulating the legal profession:  Let anyone practice law; whether they’ve gone through law school or not, and allow anyone to own a law firm. These are not new ideas, but the assertion that these ideas are… Continue Reading

Law market segmentation – It marches on

Posted in Management, Marketing, Technology
The Wall Street Journal, perhaps reflecting the concerns of its corporate readership, continues to emphasize what it considers to be the overpaid lawyers at the pinnacle of the profession.  In a recent article that had the less-than-subtle title, “Biggest Lawyers Grab Fee Bounty,” the Journal reported that partners in the top 25% of more than… Continue Reading

The Business of Law® confirmed again

Posted in Management, Marketing
Once again, it is confirmed that law practice is a business. As I’ve been saying since I received the registered mark for The Business of Law®,  law practice is a business. Yes, it’s a profession AND also a business, a service business.  Dewey & LeBoeuf confirms this.  This large, national law firm has just retained outside… Continue Reading

Law Practice Management Institute

Posted in Management, Marketing
The Law Practice Management Institute raised a number of issues and produced great discussion among the attendees.  Some of the issues in the first day were: Creating a marketing plan is important for success Alternative fee structures and billing modalities opened possibilities not previously considered Sending a satisfaction survey to clients helps maintain and build… Continue Reading

Legal services just got more expensive

Posted in Marketing
Not bad enough that legal services are already expensive, but court closures resulting from budget cutbacks will make legal services of all kinds even more expensive. Alternative methods of dispute resolution will need to be engaged.  This is like a bad heart, needing new arteries created from exercise. But, we don’t know yet what the… Continue Reading

Lawyer advertising – Testimonials now permitted!

Posted in Marketing
In our video (see blog post below), we talk about lawyer advertising. That commentary now must be supplemented. A twist to advertising for lawyers … at least in South Carolina … is that testimonials from clients are now permitted. Yes, there is a restriction: A disclaimer must be included to the effect that results for… Continue Reading