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For Immediate Release: December 27, 2005

Lawyers have experienced a 5% to 10% increase in revenue during 2005, according to several recent studies. Much of this growth, says Edward Poll, a nationally recognized law firm management consultant and coach to lawyers, has come from increasing hourly rates or acquiring lateral partners rather than by attracting new clients.

Many lawyers, especially in smaller law firms, are looking to 2006 and asking: "How can I increase both my revenue and the number of clients I serve?"

Poll addresses both issues in his work. Poll says that revenues can be increased in several ways. Poll's article on increasing fees published in the Association of Legal Administrators, Boston chapter's, new publication deals with when and how attorneys can raise their fees. Poll suggests that fees can be increased by 3% to 5% without complaints from clients.

Another way to increase revenue is to increase lawyers' collections, sometimes called realization rate. When lawyers fail to collect more than 95% of their billings, Poll says that the lawyer is "losing" money. "I believe that lawyers need to remind their clients that they (clients) also made an agreement when they engaged their lawyer; they agreed to pay the lawyer. A lawyer who fails to remind the client of the client's agreement not only loses money, but also loses the respect of the client." Poll continues, "If the lawyer can't take care of his own affairs, how can he take care of the client's?"

Poll also says that more clients can be attracted to today's lawyers by providing exceptional service. If you want to grow, you must provide exceptional service, not just outstanding service. Poll says that: "This is something lawyers struggle with; lawyers are so focused on fixing the problem presented by the client that they forget both about the client and about acting in a business-like way in dealing with the client." However, this is the best and easiest way to attract new clients, according to Poll.

In 2006, lawyers can experience increased revenues and increased profits by focusing on The Business of Law®! Poll addresses these issues in his resources for lawyers, his speaking engagements and his consulting-coaching.

Poll is the author of Collecting Your Fee: Getting Paid from Intake to Invoice. (Pub. ABA 2003)