Fantasy to Finance: Ways to Increase Cash Flow

March 2002

by Edward Poll, J.D., M.B.A., CMC

  1. Increase your hourly rate "Attorney & Law Firm Guide to the Business of Law®, 2nd ed. (2002, ABA) on the issue of pricing of legal services.

  2. Consider flat fee billing or other alternative fee arrangements which will allow you to benefit from increased efficiencies which are not rewarded by hourly billing.

  3. Get your billing statements in the mail no later than the first of each month. Failure to deliver billing statements to your clients before the 5th of each month usually causes the fee billing statement to be placed in the following month's stack of bills, not this months stack.

  4. Change your billing cycle. Bill one fourth of the alphabet each week.

  5. Shorten your billing cycle. Consider sending clients a bill twice a month rather than once each month (or less frequently).

More to come in next E-Zine ...

Published On: 

This Monthly Format is listed under the following categories:

This Monthly Format is categorized for the following audience(s):

Sub Title: 
March 2002