Category Archives: Practice Management

Law Firms Qualify for the Payroll Protection Program Under the CARES Act

Law Firms Qualify for the Payroll Protection Program
Under the CARES Act

Due to the financial duress suffered by businesses as a result of COVID-19, the federal government passed a stimulus plan called the Coronavirus Aid, Relief, and Economic Security Act (CARES) to help businesses and individuals weather the financial storm. Part of this bill is the Payroll Protection Program (PPP), which offers low interest business loans to small businesses.  Law firms, including solo practitioners, are eligible to apply for these loans. The loans can be fully forgiven subject to certain requirements.  This means that the loans will turn into tax free subsidies if you meet these requirements including maintaining employees and salary levels for an eight-week period.  

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Time Management Tips to Increase Attorney Productivity

Time Management Tips to Increase
Law Firm Productivity and Profitability


It is difficult to find a profession where the old expression “time is money” is more relevant than in the practice of law.  Whether you bill by the hour or on a contingency basis, your ability to deliver quality legal work in a timely fashion is paramount to revenue generation and profitability.  Continue reading

Setting Goals and Achieving Them

Setting Goals
And Achieving Them


The importance of setting objectives in your practice cannot be overstated. Most attorneys are so driven by urgent matters, they lose sight of the big picture. One of my clients described his situation as having a time horizon of about two days. Needless to say his frustration level was high and satisfaction with his practice was low.

If you constantly operate in a reactive mode driven by urgency, your practice will experience highly random results. I speak with many attorneys who feel their practices are

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Planning for a Successful New Year

Planning for a Successful New Year


January each year represents a new beginning.  It is a time to examine your business over the previous year, assess what went right and what fell short of your expectations.  And it is a time to make adjustments to your business plan and tactics to make the coming year better than the last.   There are several aspects of your practice that you should examine to assess whether adjustments should be made:

  1. Financial performance (Revenues, Expenses and Profit) vs. Goals
  2. Case Analysis (Quality and Quantity of caseload)
  3. Personnel
  4. Marketing  Continue reading

How To Set Your Retainers and Fees

How To Set Your Retainers and Fees


Most attorneys, whether solo or partners in large law firms, struggle with the decision about where to set their fees and retainers. Generally, I find they err on the low side, mostly out of an irrational fear that if they raise their rates by $5.00, all their clients will immediately fire them.  Naturally, the result of this will be immediate financial ruin, bankruptcy, homelessness, and ultimately an unmarked grave in potter’s field.   Continue reading