BE THAT LAWYER Randa Predergast: Conquering Your Law Firm’s AR and Billing
In this episode, Steve Fretzin and Randa Predergast discuss:
- Committing to your processes no matter how busy or slow your firm is.
- Why many lawyers struggle with billing and accounts receivable.
- Perceived value in your costs with your clients and setting expectations around billing with them.
- Handling difficult AR and collections with clients.
Key Takeaways:
- Lack of processes, lack of time, and thinking emotionally about your costs are three of the biggest issues around lawyers receiving their proper payments.
- Lawyers make exceptions more than any other professional industry leading to higher levels of AR. You are not being exceptional when you make exceptions.
- You can have your clients on ACH and autopay as long as it is kept securely. This will nearly eliminate your AR.
- Book keeping and collections should not be done by the attorney. They are delegatable to other professionals.
"We want to remove the attorney from this process as much as possible. I only like to bring them in on making decisions about stopping work because of non-payment. So all the tasks up until that point should really go to a legal assistant, admin, billing clerk, or something of that sort, not even a paralegal." — Randa Predergast
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Episode References:
- The Go-Giver by Bob Burg & John David Mann: https://thegogiver.com/
About Randa Predergast: Providing expert services in law firm and case processes (including implementation and training), paralegal support, and billing clerk services on a 1099 basis.
Connect with Randa Predergast:
Website: https://mrsjunelegal.com/
LinkedIn: https://www.linkedin.com/company/mrs-june-legal-llc/
LinkedIn: https://www.linkedin.com/in/attorneywhisperer/
TikTok: https://www.tiktok.com/@attorneywhisperer
Connect with Steve Fretzin:
LinkedIn: Steve Fretzin
Twitter: @stevefretzin
Instagram: @fretzinsteve
Facebook: Fretzin, Inc.
Website: Fretzin.com
Email: Steve@Fretzin.com
Book: Legal Business Development Isn't Rocket Science and more!
YouTube: Steve Fretzin
Call Steve directly at 847-602-6911
Show notes by Podcastologist Chelsea Taylor-Sturkie
Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.