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Financial Management
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Build Your Own Law Firm #7: Projecting Revenue
- July 9, 2018
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Starting a Law Firm
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It’s not easy to make money; and, it’s even harder to predict how much money you will make when you start a business, especially if it’s the first business you’ve started. Since this can be a frustrating task, it’s tempting to just throw up your hands, and tell yourself that, truly, you’ll know what you’re
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Build Your Own Law Firm #6: Setting Fees
- June 11, 2018
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Starting a Law Firm, Technology
One of the most challenging aspects of starting a law firm is figuring out what to charge. You’ve got to walk the tightrope of making a living, while also delivering valuable services that justify your rates — even as consumers have more options for legal services, and are more price-sensitive than ever before. The traditional
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Build Your Own Law Firm #5: Creating a Budget
- May 25, 2018
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Starting a Law Firm
Lawyers tend to hate math, like Frankenstein hates fire. Many attorneys choose law school simply to avoid math; and, that reluctance often rears its head in terms of practice management, where lawyers will focus on substantive work, and avoid business management requirements, especially those related to finance. But, when you’re starting a law firm, it’s
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Build Your Own Law Firm #3: Initial Tech Expenditures
- April 22, 2018
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Starting a Law Firm, Technology
When you start a new law firm, it will be difficult to avoid obsessing over your technology platform. Everyone is going to be telling you that you need the right technology to be efficient, so you can make more money. And, that’s true. But, efficiency is in part based on volume. Your practice five years
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Build Your Own Law Firm #1: Malpractice Insurance
- March 17, 2018
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Malpractice, Starting a Law Firm
Risk is the first consideration for any business owner. Starting a new business is an inherently risky proposition: You may be leaving a salaried position. You may misjudge the market for your services. You may be overcome by the business management responsibilities that threaten to strangle your technical proficiency. But, for lawyers, the notion of
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Turn Me On, I’m a Radio: Why Your Legal Software Isn’t Sirius XM
- September 11, 2017
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Malpractice, Technology
Many lawyers find fast frustration with new software. This is, in large part, grounded in a notion many attorneys carry with them that the products they buy should ‘just work’. This also has some roots in the general culture. I mean, when you buy a new car, you intuitively know how your car radio is
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System of a Down: How to Reverse Engineer a Law Practice
- June 17, 2017
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Malpractice, Technology
When you build a law practice, sometimes it comes out looking like one of those old Volkswagen kits: personally beloved by the builder, while others looking on are just like, ‘What the actual fuck?’ I do think that the vast majority of solo and small firm lawyers have a good sense of how to run
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Version of Events: Cloud Software Means You Never Have to Update
- May 22, 2017
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Malpractice, Technology
This is version 2.0 of version 2.0. The planned obsolescence of planned obsolescence. This is the update to end all updates. No, I’m not holding up a sign, and talking about the end times. I am, however, addressing software versions. Even now, I regularly run across law firms that operate different versions of local applications.
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Collateral Damage: What Does Access to Justice Really Mean for Attorneys?
- May 3, 2017
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Marketing, Technology
The battle for access to justice (or A2J, if you can dig it) is being fought on two fronts. There is, of course, the traditional notion, that lawyers should be connected with those most marginalized members of society via a pro bono or ‘low bono’ model; but, the definition of ‘those who can’t afford a
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Pick Up the Pace: Some Secret Sauce While You Wait to Join the PACER Class Action
- February 16, 2017
- Posted by: jaredcorreia@gmail.com
- Category: Financial Management, Technology
If you use the PACER system regularly to access (and pay for) federal court records, you probably hate it. It’s clunky. It’s expensive. And, it may soon become a relic, as pressure mounts to make PACER documents accessible via an open (read: free — or, at least, less expensive) system. But, while you wait for
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