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What you need to know
- Communications & Technology
What are the biggest challenges you face in your law office today? Finding time to read the latest rulings? Juggling your client and court calendar? Keeping track of important legal documents? Tracking billable time and assigning it to clients? If any of these apply to you, an upgrade in your communication system may be just what the court ordered.
- Sales and Marketing
Inside the courtroom, lawyers must present the jury with good reason to rule in favor of a particular client. Similarly, attorneys must employ the same persuasive approach outside the halls of justice, ultimately convincing the target market to rule in favor of their services.
- Customer Service
Client service fuels the legal industry. Even so, some researchers point out that few attorneys make concerted, quantitative efforts to keep their customers happy. This is unfortunate, they add, because strategies that include client satisfaction assessments and a few basic people skills clearly can keep a practice in business.
- Staffing & Employment
The legal industry appears on the fast track for tremendous growth in the next decade. In fact, the U.S. Department of Labor anticipates employment of lawyers to rise anywhere from 9 to 17 percent through 2014. Government officials forecast increased demand for legal services in healthcare, intellectual property, venture capital, energy, elder, antitrust and environmental law.
- Billing and Accounts Receivable
The image of lawyers running up their clients' tabs as costly seconds tick away on the office clock has long held a place in American pop culture. And because the legal profession can pay quite well - a median hourly rate of more than $200 for experienced attorneys nationwide, according to PayScale.com - the tenacity of this perception is not surprising.
- Vendor Relations and Purchasing
Judging by the shear number of legal supply vendors, attorneys need much more than an easily-pursued jury to win cases. While most folks associate the field of law with the drama that unfolds in the courtroom, the action that takes place when it comes time to order supplies for the firm also can deliver an exciting storyline.
Insuring your car, home and family is a no-brainer. You need these things, you love these things, and you insure them to protect them. What do you do about your legal practice? With legal malpractice insurance, prior acts coverage and extended reporting endorsements (or extended reporting options), your practice can be covered at any phase of your career.
Social Media Best Practices & Applications
Anyone with a law background knows there are pitfalls and
challenges to how one uses any global communications
platform such as the Internet, Web and now social media
channels. What you publish online can be fraught with
complexities that are glaring to the legal-minded. How you
interact in social media channels can present challenges
that must be addressed before you get started.
- Industry Financials