Business Competency for Lawyers

By Edward Poll

(5.5"x8.5", 60 pages, soft cover, ISBN 978-0-9654948-5-4, Published by LawBiz® Management, Co., 2006)

This is an easy thirty-minute read for any busy lawyer on the go. You'll learn Ed's A to Z basics for managing and running a successful law business without getting into too many nitty-gritty details, numbers, and long examples.

From managing your cash flow and collections process to weighing the ROI of your technology purchases, this 60-page Special Report will give you the essentials on how to make more profitable decisions concerning every part of your law business. You'll also see the hidden costs hurting your bottom line (for example, did you know that you waste $80,000 of billable time every year on email?). Case studies bring the valuable information in this book to life, making it a fun, fast read that will change your business overnight.

Book: $29.00

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eBook: $19.00

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"I think this book is a must read for any attorney who wants to achieve personal financial success in the practice of law. Many lawyers who are highly capable attorneys are not equipped to be financially successful but this book is a significant tool to change that. The book provides a foundation for further study of the business competencies a successful lawyer needs."

– RW, Minnesota

You'll learn how to:

  • Follow the 5 Steps of Law Business Planning
  • Rate the profitability and performance of your practice
  • Manage your cash flow more effectively
  • Shorten your billing cycle
  • Get clients to pay more – and on time
  • Change your billing method so that clients don't get sticker shock when they read their bill
  • Raise fees without any clients complaining
  • Understand the impact each client has on your business
  • Effectively balance your client portfolio so you never get stuck for cash when a heavy hitter leaves


Understanding Business Competency
- Introduction and Definition
- Importance of business competency
- The unique law firm environment

Law Firm Business Planning
- Service elements
- Warning signs
- The five planning Steps

Law Firm Business Performance
- Performance factors
- Accounting methods
- Large firm performance
- Small firm performance

Cash Flow Management
- Collection cycle
- Statements
- Accounts management
- Clients trust accounts
- Average daily balance
- Bank sweep
- Deposits

Billing Rates and Cycles
- Identifying costs
- Billing options
- Value mix
- Raising fees

- Written engagement agreement
- Planning
- Time records
- Ancillary expenses
- Communication
- Collection service

The Junior Attorney's Impact
- Information metrics
- Associate value
- Financial ownership

The Client's Impact
- Client business essentials
- Client financial agreements
- Client mix

Case Studies in Understanding Business Competency
- The real cost of e-mail
- The real cost of lawyer turnover
- The real cost of capital investment
- The real cost of telecommuting

Business Competency Resources

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