Not too long ago, I was talking with a young solo practitioner who needed help with trial prep. He has a growing practice but isn’t quite ready to hire employees; he does, however, need help – especially on larger cases. After he asked about my fees, he responded that he’d need to see if they were okay with his client. It’s not the first time I’ve had such a conversation with a young attorney and I immediately knew that he did not yet have his billing rates established. It’s difficult enough for young solos to develop their own billing rate (see, Are you pricing for success (or failure)). When you’re starting your own practice, hiring personnel is generally the last financial obligation on your mind. A solo is used to doing everything alone. It’s not until much later, when the pressure of growth starts to suffocate, that thoughts of billing … Continue reading
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