Billable Hours! Your MUST as an Attorney
For so long this has been the primary way most attorneys bill for their time. The big issue is you not always accurately capture the time you spend on a specific matter, either because you overspend or you are writing off time. Whichever is the case, you need to understand the outcome.
Ask yourself, How well am I capturing my time? Am I utilizing the time properly?. Today there is a huge variety of Law Practice Management systems with easy on and off time tracking that help you generate more income, but everything starts with you. You need to make it a habit, record when you start working on a project, and when you stop every single time until it becomes something natural. A good recommendation is to review your time log at the end of the day, so if you forgot to track time is still fresh in your memory to add it correctly.
I read once “The most important train a lawyer can have is a leather-ass. You’ve got to be able to put your butt in a chair and do the work.” and I find this true, but when you lack the experience in accurately estimating the time required, it may cost you a lot. When talking to a client, always go over, it’s better to tell them you finish the job at a lower cost than investing so much of your time for a low price.
Nevertheless, calculate the estimated time to deliver great results, but don’t overspend seeking for perfection, this can be time-consuming. Use this time to work in your marketing to attract more clients and to work on your firm to grow it to it highest potential.
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