Solo/Small Firm Nuts and Bolts Ethical, Administrative and Practical Solutions to running a Successful Solo/Small Practice
Three Things To Ask Yourself: What is my goal and will this help me reach my goal? Is this the most efficient way to reach that goal and what can I do to make it more efficient? Is this ethical and when in doubt ASK before you do anything?
BIG PICTURE GOALS? HOW WILL I GET THERE? FIND A MENTOR! WHAT IS MY PRICE POINT? WILL THIS BETTER MY CAREER? AM I HAPPY?
EFFICIENCY
How can I make money and minimize my stress?
KEEP TRACK OF THE “BOOKS” FIND TIME IN YOUR REGULAR SCHEDULE TO RECORD TIME, GO OVER YOUR BOOKS, AND BILL CLIENTS OUTSOURCING TO OTHERS FIND A SYSTEM AND STICK TO IT!
BILLING AND ACCOUNTS RECEIVABLE LESS EFFICIENT BILL CLIENTS (TRACK TIME) ON A MONTHLY BASIS SEND BILLS TO CLIENTS AS THEIR BALANCES BECOME DUE WRITING DOWN TIME WORKED ON A TIME SHEET THEN TRANSFERRING OVER TO EXCEL MORE EFFICIENT BILL CLIENTS WEEKLY OR AS YOU PERFORM THE WORK SEND YOUR CLIENT’S BILLS ON A REGULAR BASIS AT LEAST MONTHLY UTILIZING TECHNOLOGY, THE INTERNET, AND APPLICATIONS TO TRACK TIME AND GENERATE INVOICES
ADMINISTRATIVE CONSIDERATIONS BE REALISTIC! YOU WILL BE WORKING QUITE A BIT AT FIRST. SET A SCHEDULE & STICK TO IT CREATE A FORMS DATA BANK ON YOUR COMPUTER EVEN IF YOU DON’T USE THOSE FORMS CREATE AN LLC OR LLP & REGISTER IT WITH SOS FAMILIARIZE YOURSELF WITH LOCAL AND TRIAL COURT RULES
HOW CAN I MAKE MY PRACTICE RUN SMOOTHLY? TREAT COURT STAFF LIKE YOU TREAT YOUR MOTHER! THE SAME GOES FOR SUPPORT STAFF IN OTHER ATTORNEY’S OFFICES. GET INVOLVED IN LOCAL AND STATE BAR ASSOCIAITONS AS WELL AS ORGANIZATIONS SPECIFIC TO YOUR PRACTICE AREA. STAY INFORMED – READ THE INDIANA LAWYER!
ETHICAL CONSIDERATIONS
ETHICAL PRACTICE FOCUS YOUR AREA[S] OF PRACTICE!!! KNOW THE RULES OF PROFESSIONAL CONDUCT AND WHERE TO FIND THEM QUICKLY ( /index.html) /index.html TAKE ADVANTAGE OF PROGRAMS LIKE “SAFE ASK” THROUGH THE IBA ( program.php) program.php WHEN IN DOUBT ASK SOMEONE FIRST THEN ACT AND ALWAYS PROTECT YOURSELF!
MALPRACTICE CONSIDERATIONS Maintain Malpractice Insurance at least $1,000,000 policy Seriously Consider the consequences before suing clients or sending them to collections Shop around for the best premium
ETHICAL CONSIDERATIONS WHATEVER THE CLE REQUIREMENT IS FOR ETHICS – DOUBLE IT FOR YOURSELF! KNOW THE IOLTA RULES AND OPEN AND IOLTA ACCOUNT EVEN IF YOU DO NOT BILL HOURLY MAINTAIN REGULAR CONTACT WITH YOUR BANK – THEY ARE A GREAT FREE RESOURCE KNOW THE LAW FOR YOUR AREA OF PRACTICE DON’T OVER COMMITT
Additional Resources Indianapolis Bar Association Indiana State Bar Association Indiana Secretary of State Indiana Law Blog Supreme Court Website Clio Case Management