Bill 4 Time Blog

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In the right hands, Facebook is an incredibly powerful firm building tool. But it has a sweet spot – B2C firms. Even better, it produces significant value when the right amount of effort is applied. Which is why it’s ignored. Most lawyers prefer to focus their limited time and attention on business development platforms they view as a “sure thing.” Many lawyers ignore Facebook for one simple reason It isn’t a sure thing. These attorneys…
Earning interviews is the only way to survive. That’s according to the 2019 Report on the State of the Legal Market. Before looking at the data, there’s only one way for law firms (of all sizes) to grow. That’s through fierce, zero-sum competition. If you want to win, your competitor has to lose. For your competitor to lose, you need to earn interviews. It’s the sobering yet unpleasant reality law firms face today. Law…
Business development is based on one important detail, value. The more value you provide to those around you, the more value you’re able to capture for yourself and your firm. Here’s a common assumption many veteran attorneys make. They assume hovering is enough to close the sale. Make your clients happy, then stay on the top of their mind. If only it were that easy. Getting published creates value for your firm When lawyers get…
Can you get personal on social media? Sure, as long as you behave in a professional manner. It goes without saying that the rules of professional conduct still apply. It seems obvious, like it’s common sense, right? It isn’t obvious to everyone. Professionalism isn’t always as obvious to everyone Have you seen this tweet? A well-known attorney with a sizable audience sends out this tweet. It seems to strike the right balance between personal and…
The competition is severe. There are approximately 1.5 million JD holders in the United States, with 1.34 million licensed to practice law. Of these, roughly 354,000 attorneys are solo practitioners. The market is flooded. The Bureau of Labor Statistics projects 43,800 new jobs from 2014 to 2024. They also project an additional 113,900 jobs due to retirements, deaths and additional vacancies for a total of 157,000 jobs. Here’s the problem. ABA-accredited law schools produced 43,832…
Is an MBA useful? To run your small law firm, it would be, right? Many pundits feel it isn’t. Their argument focuses on the fact that an MBA doesn’t teach you the real world strategies and tactics you need to build, grow and scale a successful business. They’re right, it doesn’t. So why run your small law firm as if you have an MBA? Isn’t that kind of self-defeating? It would be if that’s all…
How is a recurring payment plan a potential solution for your billing cycle? What’s the one billing problem that’s often ignored? The missed billing cycle. If you’re managing your firm know what I’m talking about. Lost income due to a missed billing cycle. This occurs for a variety of reasons. Law firms routinely forget to send invoices to clients. Or they forget to follow-up with those who don’t pay. Some firms bill at the end…