As a cyclist, I truly understand the importance of a well-balanced wheel for ensuring a successful ride. After completing my recent ride, I thought about the analogy between the smooth bike ride and a successful client engagement. The difference between my smooth rides and not-so-smooth rides can be the condition of the wheels – one …
By Peggy Gruenke, COO Godbey & Associates From a previous post, not only is an informed client a happier client – they also tend to pay on time and keeping on the theme of building great client relationships to build a profitable practice – if a client gets a bill each month and pays each …
Where’s the Money – Keep a Regular Billing Cycle to Keep the Money Coming In Read More »
By Peggy Gruenke, Owner – LawBizCOO A lawyer’s job is more than offering sound advice or making a persuasive argument. An important role for every lawyer seeking to improve their level of profitability is to manage expectations from intake through getting paid at the conclusion: 1. Expectations about service; 2. Expectations about how long it …
Where’s the Money – Managing the Expectation to Get Paid Read More »
The other day I was working on billing, accounts receivable and collections and I noticed a pattern which shed some light on our cash flow and receivables. I was able to identify 3 types of clients and how they pay their invoices. Type 1 – The client, who paid an original retainer which has now …
Where’s the Money – Another Perspective on the Importance of Communication Read More »
Not only is an informed client a happier client – they also tend to pay on time, are less frustrated and have a better chance of becoming a good referral source. All pointing to good things for growing your practice. Your initial interview is the first step in managing your risk and is an opportunity …
