Small Law Firm Spotlight: Exploring “The Modern Practice”

Topics: Case Management, Client Relations, Data Analytics, Efficiency, Law Firms, Legal Innovation, legal operations, Process Management, Small Law Firms Blog Posts, Thomson Reuters

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It’s no secret that the legal industry is transforming at an unprecedented rate. The truth is, it’s getting harder and harder for attorneys to find the time to actually practice law while running their own law firm.

Based on extrapolation of available working hours, there are 3,120 hours in a year to make money, based on a 60-hour week. However, according to responses from Thomson Reuters’ 2016 State of the U.S. Small Law Firm Survey, about 40% of that time is spent on activities other than the practice of law.

That’s 1,248 hours per year spent on activities other than the practice of law!

What if you could get back some of that time, streamline your workflow, and strengthen your practice?

The 4 Pillars of The Modern Practice

Explore the four pillars of success for competitive firms:

  1.      Attracting and retaining clients while sharpening your focus on business development and client service;
  2.      Practicing law, including specialties such as drafting and research, and improving matter management;
  3.      Running your firm with a focus on client management and billing; and
  4.      Managing your finances, including how to properly take write-downs and offer beneficial fee adjustments.

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Check Out These Other Insightful Articles on The Modern Practice

A Holistic Approach to Running Your Firm

If you own a Small Law Firm, you have many other needs to balance every single day to run a profitable business. With administrative tasks, marketing, project management, billing, and much more, your actual practice may be vying for your attention.

Speed and Accuracy: When Slow and Steady Doesn’t Win the Race

In today’s lightning speed digital world, your clients expect immediate — and accurate — service. As the expert in the field, you need to deliver on both because they can directly influence your credibility. Find out how some small law firms successfully combine accuracy with speed.

How to Virtually Eliminate Unnecessary Tasks and Mistakes

It’s the practice of law that ultimately creates revenue for your firm. Learn how small law firms are streamlining their administrative tasks so they can focus on what they do best — practice law.