Month: January 2023

When we say to delegate things that could never be considered billable time, we’re talking about things like accounting, marketing, and secretarial work because these are the things that have the biggest impact on your small law firm’s utilization rate. When you, a qualified and professional attorney and law firm owner, waste time on writing social media posts, pouring over trust accounts, and writing emails to clients, you’re cutting into your billable time dramatically. This is one of the most common ways that small law firms struggle to finally scale.

While it might seem daunting, implementing credit cards for law firms doesn’t have to be an arduous undertaking. Not to mention, it’s well worth the upfront time investment. The 2021 Legal Trends Report found that 66% of clients expect law firms to accept online payments. With over 100 million credit card transactions occurring in the U.S. every day, giving clients the ability to pay you via credit card is financially and logistically beneficial.

If you’re just starting your firm or looking to grow rapidly over the next year, you may be considering business loans for attorneys or other forms of law firm financing. Before you sign a promissory note on your next business loan, it’s worth considering how taking on this debt will impact your growing law firm in the short and long term.