Financially Legal

Gravity Legal Presents at the ABA Dispute Resolution Tech Expo

Posted by Emery Wager on September 26, 2020
Emery Wager

This September I had the pleasure of speaking to the innovative lawyers, mediators and greater dispute resolution community members at the American Bar Association's Dispute Resolution Tech Expo. 

In the presentation I shared that every firm we have seen achieve a near-perfect collection rate has employed one of four strategies all under the umbrella of taking payment before the work is done. These four strategies are:

1. Move to a flat fee billing structure

2. Use an evergreen retainer model

3. Move to a subscription legal services model

4. Keep client payment methods on file

For more information on employing these strategies, view the slides from the presentation or watch the 30-min segment below. 

 

Topics: Firm Financials, Key Performance Metrics, IOLTA

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Decoding the Finance of Law

Financially Legal is a twice-monthly podcast on the finance and economics of entrepreneurial law firms and lawyering. Host Dan Lear talks with law firm leaders, academics, business professionals (both in and outside of law) and thought leaders to provide compelling and provocative content at the intersection of finance, economics, and law.

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