Archive for April, 2007

Winding up a practice

April 15, 2007

It has to be said: sooner or later (preferably at regular periods when you are in control) you will think about your future. Do you shut down your practice or merge it, expand or keep going as you are?

Sunsetting a law practice has some stories about solos making the transition to a different firm or different area of practice.

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Keeping inspired and focussed

April 6, 2007

It’s very easy to get swept up in client matters and lose focus in what you’re trying to do as a solo and small firm owner.

How do you get back on track?

If you’ve written a brochure or website or blog description of your firm (or even a strategic or business plan), it’s worth going back to  that document from time to time to see what you said and test whether you’re on track.

If you said you were  specialising in a particular area have you accepted some commodity work “for the cash flow”?

If you said you were going to be selective about clients have you taken on a high risk client because “the matter was interesting”?

To stay on track you need to align your day to dap practices with your goals.

The Inspired Solo gives some good examples of checking your email “one more time” at night and agreeing to bill by the hour when you had decided to fixed fee bill.