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To other lawyers: solo practice? - Page 2

post #16 of 17
9/11/09 at 2:25pm
Quote:
Originally Posted by CTGuy View Post
Thanks for the reply. I appreciate your thoughts. When I worked for a SP in RI while in law school he had similar problems. As he put it, criminals tend to have issues with paying their bills. His brother who was also an attorney pretty much demanded that people pay up front, but I realize that's a choice a lot of guys don't want to make in the fear they'll scare away business.

Two golden nuggets from Jay Foonberg for you to chew on:

"The client who can't or won't pay you cash up front at the beginning of the case is the same client who can't or won't pay you cash during the case, and is the same client who can't or won't pay you cash at the end of the case."

"If you choose between doing the legal work and not getting paid or not doing the legal work and not getting paid, you are better off not doing the work and not getting paid."
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post #17 of 17
9/11/09 at 4:49pm
Quote:
Originally Posted by jgold47 View Post
my dad has been a SP for the better part of the last 40 years (jesus). Obviosuly he loves it, started out doing a lot of criminal work, but burnt out on that and has spent the last 10 years or so doing Bankruptcys, DUI/Drivers License, and small timer stuff. He still takes the occasional big case as a favor. He is actually busier now then he ever has been. That said, everyone knows him in town, he gets a lot of referals, and at dinner the other day he told me that he had his first 4th generation client. So thats how he rolls. That said, one of the biggest issues he has had been wtih billing. For years he wasnt a good 'biller' and given the nature of the work it was hard to collect. I cant imagine the 1000's of dollars he missed out on because of this. Since he has gone to the flat fee type work, its gotten better, and with the bk he always gets paid, but he still has problems. My mom finally started helping him, and she told me that he has more money in outstanding bills (and these are just from the last couple of years), then she makes (and she has a good job) and wants to quit and do it full time. So just make sure you get your billing down.
I have a family member who is a SP and he said the first thing he learned in his first year out was to do his own billing. He let his assistant do once, she screwed it up, and he's been doing it himself ever since. He tells it's the only thing he won't let anyone else touch.
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