The National Creditors Bar Association Law Practice Management Blog

Law firms lack structure, generally; and, that’s also true of how they compensate their lawyers, beyond their salaries .  And, that’s maybe the most dangerous game to be playing in the current hiring environment – because, if you can’t keep your current staff happy, they’re more likely to be able to find an alternate position, easier and faster than they ever have before.   Most law firm s rely on ad hoc bonuses for their employees; but, that’s a bad idea .  One reason that’s the case is because those sorts of bonuses come at random times for random reasons .  That creates an expectation that they’ll come along again, but without grounding for how or when .  And then, since there’s nothing tied to those bonuses aside from the whims of a managing attorney, it will inevitably lead to bad feelings for the attorneys who don’t get bonused, because there is no quantifiable reason for why or when the bonus was paid.     Now, contrast that to a...

Contingency firms scratch a bunch of lottery tickets, and sometimes get a (big) hit .  I mean, it’s a little better than the lottery, because there is some skill involved; but, it is a lottery.     So, when that endorphin rush of a big hit, um . . . hits – it’s easy to just plow that money into a new Maserati .  But, you have other obligations , as well.     The best strategy to employ, then, is to create a payoff sheet for settlements .  You can use whatever format you want: a document, a spreadsheet, notes in your case management system – but, it would look something like this :     First, get any disbursements out that need to be made on the case, eg – medical bill payments on behalf of the client .  (This process almost always festers in law firms; and so, you want to move through it as quickly as you can.)  Next, allocate the appropriate percentage for payments of taxes (federal and state, if applicable) from the set...

Images in marketing are more important than ever – including moving images (videos).     But, you know what remains pretty boring about websites?  The stock images that are utilized at almost every single one of them to relay the value of a service or product.   So, why not shake th ings up a bit ?  Instead of buying the same old stock photos from Getty , or using a free service like Unsplash , or even taking your own photos . . . Why not try an AI image tool to generate fresh and interesting pictures?     DALL -E just released its version 3 .  And, MidJourney remains a favorite of creatives; so, you have at least a couple of options in play.     Utilize specific prompts to generate compelling images related to what you do, and avoid known IP – like, ‘ make Darth Vader an estate planning lawyer ’ .   And, you should be good.     At least you’ll be different, which helps you to stand out , in a competitive marketpl...