Un-Billable Hour: Business Management Strategies for the Busy Lawyer Around the Community Table

Guest M.C. Laubscher is the founder of Producers Wealth and an author, speaker, and podcaster who aims to help business owners create and build wealth for themselves, their families, and their team. How do you look at the path to building your firm and your wealth? It’s not intuitive. It takes thought, effort, and time. How’s your cash flow, and how much time do you spend thinking about it? Sometimes as a business owner you get so caught up in the day-to-day that you may not be spending enough time working on your financial picture. Hear how finance, scale, and cash flow management can build your business. And make no mistake, a law firm is a business. Hear about the small things you can do within your business that make your business work for you.There may be no greater return than investing in your own business. Never doubt what you can do if you believe in yourself and your business. Hear how you can allocate capital more effectively for greater returns from your own business. As Laubscher says, “You don’t have to be a Rockefeller to do what the Rockefellers do.”Mentioned in This Episode:“Rich Dad, Poor Dad,” by Robert Kiyosaki“Loan on a Life Insurance Policy,” InvestopediaProducers Wealth, Un-Billable Hour page“Get Wealthy For Sure” by M.C. Laubscher, free with paid shippingJoin the next Community Table live. What’s on your mind? 

In this episode’s discussions around the Community Table: There’s a time to take stock and reset. Understanding what you value and your internal motivations will help you guide your law firm’s growth. Think about what gets you out of bed and into the office each day. For most, it’s more than money. Know the difference between growing and truly building. Purpose and intentional goals matter more than billing. It’s the holiday season, and who doesn’t want to take off work for an extended period to be with friends and family. But for law firm owners and leaders, the question is how? Set the pieces in place that will allow you to turn over the business to employees, such as an established chain of command and communication expectations. Try a test period to see how things go when others have to step up and run the office. And finally, let’s talk about recognizing and coming to grips with “red flags” from a job candidate. Sometimes … you just know.  Mentioned in This Episode:Ask us anything for the Community Table. Leave us a question onlineJoin the next Community Table live. What’s on your mind? Clio Legal Trends ReportClioCliocon 2025

Join communications expert Janet Falk, who boasts over 30 years of experience helping small law firms thrive through networking and media relations. She provides invaluable insights on attracting clients and mastering the art of networking, especially for introverted attorneys. Falk discusses creating strategic connections, elevating your personal brand, and crafting a compelling elevator pitch. Plus, learn how to engage with media effectively to boost your firm’s visibility and tell your story. Grab her practical tips for networking events that can transform your client acquisition strategy!

In this episode’s discussions around the Community Table: Returning Guest Danielle Hendon, CPA, founder of 4 Corners CFO, explores what lawyers and law firms should, and should not, be doing in the fourth quarter of 2024. Learn the common mistakes firms make as the year winds down.  Take the time to understand the story your business “numbers” are telling you. Do you see where your business is going and what you should be thinking about as you forecast for next year? Be intentional about your growth. Don’t let things “happen to” your firm, make them happen.  It’s OK to spend as needed at the end of the year, especially if you’re thinking of taxes. But you’ve got to be looking ahead, too. What’s important, how do you manage a budget, understand what’s budgeting and what’s forecasting? Don’t spend just for short term tax advantages, plan for the unexpected too.  Mentioned in This Episode:Danielle Hendon, previously on the Un-Billable Hour, “Is Your Small Firm Missing A Chief Financial Officer? Rent One.”4 Corners CFO, “A Framework to Reveal Your Path to Profit”The Un-Billable Hour, Legal Talk NetworkQuickbooksClio Legal Trends ReportClioCliocon 2025Join the next Community Table live. What’s on your mind?

Let’s talk about technology and how it fits into your practice. Fact is, the old yellow pad and document boxes are no longer your friends. Your clients expect you to use technology to be more efficient and effective. Guest Richard “Rich” Dukes Jr. has gone paperless. So has his entire South Carolina law firm. Today’s tech drives efficiency whether that’s in document review, witness preparation, or even courtroom presentation. Hear how Dukes evaluates each evolution of tech tools, how he decides if they will truly elevate his productivity, and how easy they will be to introduce to his colleagues and incorporate them into his practice. Time is an attorney’s most valuable commodity. Technology can give you more time. Coming next, AI. Dukes has some ideas of where artificial intelligence may upend the next generation of legal tech tools. Put down the pen and pad and start working smarter today. Mentioned in This Episode:NotabilityTrialPad OpenAIPerplexity AIJoin the next Community Table live. What’s on your mind?

In this episode’s discussions around the Community Table: The ROI of hiring. It’s important. You may think hiring someone, say a paralegal, will cost you money. Successful firms won’t consider hiring someone if they don’t already know they’re going to make money. Firms use benchmarks to weigh the cost of a new hire against anticipated additional revenue. This is math, not “gut feeling,” and you can do it! Listen to find out how. Dive into the results of a legal industry “secret shopper” study by Clio. The scientific data shows law firms stink at answering calls, responding to emails, and even monitoring chatbots. The first rule of success? When a potential client knocks, open the door. Can AI help? How do you incentivize a high performing team? What kind of rewards are appropriate? And if your team is already firing on all cylinders, what else can you incentivize? Hear how you can help high performers earn more and grow by finding new tasks where they can take over and excel.   Mentioned in This Episode:Moneyball, what your firm can learn about ROI from a movie about baseballGoogle local search ads, be betterTips for better Google reviewsListen to the On The Road episode featuring Joshua Lenon Clio Legal Trends ReportClio For Clients appCliocon 2024Join the next Community Table live. What’s on your mind?

Guest Shaun Jardine is an unapologetic disrupter in the world of pricing and billing by lawyers and law firms. He’s leading the charge to move from traditional billable hour pricing – charging for time – to the emerging revolution of value-based pricing. Charge for the results you achieve for your clients, not the time you spent getting there.Are you still charging for time? Why not base your pricing on your experience, your wisdom, your education, the outcomes your clients want, and everything you bring to the table. Clients don’t want your time, they want their problems solved.It’s not “the way we’ve always done things,” but Jardine explains why change is inevitable. As technology, notably AI, accelerates the practice of law, why should a lawyer charge less – fewer billable hours – for achieving results faster and more efficiently? The move to value-based pricing isn’t like flipping a switch. It will take effort, and it will involve your entire team, from HR to marketing, to lawyers and paralegals. But in a changing world, sticking with the old ways may not be an option. This fascinating conversation will ignite your curiosity and challenge you to think differently. Mentioned in This Episode:Charles Proteus Steinmetz“Ditch The Billable Hour! Implementing Value-Based Pricing in a Law Firm,” by Shaun JardineAmerican Bar Association Rule 1.5: FeesRACI methodology of change management (free download)Join the next Community Table live. What’s on your mind?

In this episode’s discussions around the Community Table: Growing pains. As you bring on new clients, it can be hard for an overburdened team of lawyers and paralegals to manage client communications. Hear how texting can help bridge communication needs, how a virtual receptionist can fill gaps, and how a standing schedule of update calls and a task assignment system can ensure clear communications between lawyers and clients. ·What is the “rhythm/parking lot” method for managing client communications? Combined with allowing clients to schedule their own appointments online and chat functions, this system can take pressure off your staff. Be honest and direct with your clients. Set expectations and ask clients if your expectations and theirs align, so they know how the case will proceed. And if a client “emergency” arises, be sure your staff asks the right questions and fully understands the situation so they can provide clear details to the attorney. Mentioned in This Episode:Clio Legal Trends ReportClio For Clients appCliocon 2024 (discount code, “actfast”)Google ChatVonageJoin the next Community Table live. What’s on your mind?

How are you doing? Not you, personally, your business. Do you know? Because many small businesses, including small law firms, don’t have a true CFO, someone who doesn’t just do your taxes, but who helps you understand your business, your bottom line, and your future. Danielle Hendon is the founder and CEO of 4 Corners CFO, bringing the benefit of “big business” financial analysis to entrepreneurs and business owners at a cost they can afford. She and her firm are “fractional CFOs,” providing the analysis and planning you need to stabilize your business, develop consistent revenue models, and grow with a goal in mind. Hendon helps businesses, like yours, evaluate where they are, how things are doing, what your “real profit” is, and how to set and move toward goals. Allocating overhead, hiring, understanding gross and net profit, and growing with purpose is all doable. Hear about “bottom-up budgeting,” understanding cash flow forecasts and how a CFO, even a part time CFO, can help spot red flags and build the pillars that will lift your business. Mentioned in This Episode:4 Corners CFOJoin the next Community Table live. What’s on your mind?

In this episode’s discussions around the Community Table: Adding a Customer Relationship Management (CRM) program for your law firm? Hear the struggles one small firm is facing as it looks to automate CRM duties. Start with knowing what you need, how you’ll keep up with clients and follow up on leads. Software is just a tool. Without a plan, it’s useless. Start with a “sequence of contact” (and no BS).  “Misfiring” when you hire a new associate can be a headache (and expensive). How do you make sure it’s a good fit before you hire, instead of learning you made a mistake later? Treat recruiting as marketing. Start with a clear message. Know what you want and tell people.  Are you offering discounts? Here’s the thing: people don’t always want discounts; they want value. A good deal isn’t about money, it’s about service. Give clients more, don’t charge less. Make them feel special. (Do you know what a lagniappe is?) Mentioned in This Episode:Constant ContactHubspotZoho CRMKeapClio GrowLawmatics“Origin and Meaning of the Word Lagniappe” Join the next Community Table live. What’s on your mind?