Show Me The Money: How to Get More Money In

Tough times lay ahead for a lot of business owners and their clients. Some clients may be behind on payments due to the current economic situation, leaving business owners struggling with billing collections. These last few months have posed a burden on us all. How can you and your business survive?  In this episode, we speak with Elizabeth Miller, Owner and Founder of Managing the Business of Practicing Law(R), which helps solo, small and mid-size law firms handle administrative matters, including billing time, collection procedures and a host of other business functions. If you are looking for a solution to help streamline your billing processes and get paid, then this is the episode for you.  In this episode, Elizabeth and I discuss: How delay in billing creates calamity Ways to structure effective retainer agreements Smoothing out the “billing edges” Automating retainer replenishments in software Flexibility in client billing Ethical and expedient ways to raise hourly rates Testing the waters to ensure clients have the ability to pay Running interference between clients and attorneys when collecting fees Extracting lawyers from billing to improve the collections process