Law firms throughout the country deal with many of the same operational challenges: annual standard rate setting, discounting, write-down analysis, determining fixed-fee arrangements, creating firm budgeting & forecasting, analyzing & understanding profitability, client rate negotiations, billing clients, and many others.
None of these responsibilities are what inspired our clients to practice law, but hiring employees to manage these tasks can be an expensive investment. Thus, too often these tasks are placed on an indefinite to-do list, which can lead to lost revenue, incorrect pricing, overspending, and an incorrect understanding of overhead costs.
Thomson Reuters conducted a Small Law Firms survey and found the following: "Spending too much time on administrative tasks was at least a moderate challenge to 74% of lawyers responding to the Small Law Firms survey, with almost 20% calling it a significant challenge... It’s become a theme in this most recent series of articles, but a general lack of action by small law firms can create tremendous opportunity for those firms willing to make these moves."
We aim to provide solutions to all of the issues mentioned above in a tailored approach, specific to your firm. This prevents a small firm from having to hire full-time employees for challenges which only require periodic attention (annual pricing, monthly reporting, quarterly reporting, cost analysis, etc.), enabling a firm to only pay for the time it needs. Through a scheduled consultation, we will learn what services you will most benefit from.
Our pricing is very similar to that of a law firm (it's the model we know and understand best). To best serve our clients and ensure you only pay for what you need, we offer pricing at an hourly rate. There's no smoke and mirrors within our organization either. Our consultant rate for 2024 is $165 per hour.
Note, for firms who are looking to have predictable monthly expenses, we can provide monthly fixed-fee arrangements once your needs have been scoped.
If a firm partner, who has an effective billing rate of $475, is handling 15 hours of administrative duties per month on behalf of a firm, those duties will cost the partner $85,500 in lost billable time for the year.
Meanwhile, we are experts in the areas we support, which brings efficiencies and results to our work. We most likely can accomplish the same amount of work in 10 hours per month. At a rate of $165 per hour, the same amount of work will cost the firm $19,800 in a year, a 76% savings compared to the partner handling the tasks.
Our main priority is to increase your firms profits through; increased revenue generation, effective practice management, and cost management. Because in the end, a business relationship only thrives when it is mutually beneficial.
Use the link below to make your monthly invoice payments online. Checks are also accepted (mailing address provided on invoice header).