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Life is challenging, so the saying goes. And 2014 has provided many
challenges for most. From microeconomic impact on the geo-political
scene, to micro-financial issues for most lawyers and other small
business folks, to family and health, change is the name of the game.
In cycling, we hope you keep the rubber side down and on the road. May
you remain upright, healthy and in good humor in 2015. All else will
follow.
 Holiday Special ALL December One-time coaching session with me AND a copy of my book Life After Law (see below).
lawbiz.com
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Banking: More Than Just Checking and Savings
Banks offer a variety of services that represent opportunities for a
lawyer whose firm has established a good banking relationship.
That business relationship can often be used to give you greater access
to and more effective pricing for such personal banking services as the
following:
Personal loans Home mortgages Discount brokerage services Trust and estate services Personal financial planning Retirement counseling Discounts on standard banking services for your staff, such as lower-cost auto loans or no-fee checking accounts
In addition, there are a variety of other services available for law firms.
Credit Card Services.
If you have the client’s credit card information and permission to
charge his account, you will get paid more readily, improving cash flow.
The few dollars that it costs you to get the money faster—typically 2
percent to 4 percent, depending on your volume, the card, and your
ability to negotiate with your bank and processing agent—is offset by
the ease and assurance of payment as well as the speed of collection. Office Services.
Many banks offer services relating to functions such as staff payroll,
pension administration, and even monthly billing and collection. Investment Instruments.
Law firms can earn a return on cash balances not needed for operating
purposes by placing the money into such short-term investment
instruments as certificates of deposit, business money market accounts,
commercial paper, or U.S. government obligations—all of which a bank can
provide. Online Financial Services.
These services can facilitate your cash management. For example, banks
offer the opportunity to set minimum and maximum cash balances in a
firm’s general account, with “extra” funds being transferred daily into
interest-bearing accounts and cash advances being drawn from a line of
credit if the general account falls below the minimum.
As your needs develop and change over time, be sure to talk to your
banker about the various types of assistance that the institution can
provide for you.
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Special one-time coaching session with Ed (normally available only as part of the full six-month package) and a copy of Life After Law.
Note: This is a one-time offer with limited availability. First come, first serve.
About Ed:
- Lifetime Achievement Award, State Bar of California (LPMT)
- Fellow, College of Law Practice Management
- Board Certified Coach to the Legal Profession, SAC
- Member of the Million Dollar Consulting® Hall of Fame
- Learn more About Ed, his Coaching Program and his Books & CDs
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