Ed offers 5 ways to increase your law firm’s revenue.
1. Emphasize collections.
2. Hire lateral lawyers to meet specific demands, a new practice area, a new need.
3. Leverage technology.
4. Create a cooperative compensation model that emphasizes the law firm as an institution.
5. Outsource functions that are better done by others. Delegate.
Ed talks about lawyers who provide solutions and who communicate effectively and often with their clients.
Ed stresses the fact that knowledge of technology is now vital in order to be considered a competent lawyer.
Ed discusses managing a client’s fee expectations.
Ed advises: keep track of your work, bill timely, and collect efficiently.
Ed advises: keep track of your work, bill timely, and collect efficiently.
Ed notes that poor client service is responsible for 63% of clients leaving their law firm.
Will you be one of the 400,000 lawyers retiring in the next 10 years? Ed discusses what to do when it’s time to move on.
Pop Quiz! When do you get rid of client documents? A) As soon as the case is over B) 2 years after case is closed C) Never. Watch this week’s clip to hear Ed’s answer…
Interested in making your firm more profitable? This video is for you.