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Cost of Doing Business

November 08, 2008

How are you holding up in this economy?

Its scary out here for professional services firms. As a solo, with a part-time legal assistant (who happens to be my sister) I am holding up okay. Business is actually increasing in my licensure defense practice.

I am continuing to market. I just finished a working draft of the 2009 Business and Marketing Plan for my law and consulting firms.

What are you doing differently now compared to last year?

Are you scared? I am not. As a RN (with recent home care nursing experience) in Ohio and a licensed attorney in three states I have employment options and this is comforting. My fiance is a licensed barber and his business is remaining steady throughout these turbulent times. We are both self-employed and plan to remain so throughout the R-word.

Are law firms laying off attorneys and support staff in your area?

September 25, 2008

Would You Pay $1,000.00 for CLE and training?

What is the most you would pay to attend a one day training seminar? Just registration.

What is the most you would pay to attend a two day training seminar? Just registration.

Whether or not it would lead to business and legal or consulting work in the future is just one of the considerations for me. I am considering attending a two day healthcare advanced mediation and healthcare arbitration training program. The cost just to register is $1000.00. For registration, hotel, car rental (I am not driving my boat to Chicago) and gas (its 5 to 6 hours drive from Cincinnati to Chicago), I would spend between $1800 to $2100.

I have wanted to attend this training for sometime (at least 5 years) however it bothers me to spend this kind of money on CLE and training. The firm's money is my money and I typically don't attend high priced CLE events.

The training would be beneficial to my law and consulting practices and would without doubt generate business and marketing opportunities for me.

What would you do?


August 15, 2008

Self-Help Center for Pro Se Filers

See this post about a legal self-help center for pro self filers that was axed.

http://www.law.com/jsp/law/sfb/lawArticleSFB.jsp?id=1202423757677

Do you think the government and/or state bar associations should fund such projects for access to the justice system? Will these types of efforts harm solo practitioners and small firm attorneys?

When I first read the article, I thought wow it seems selfish for attorneys to oppose the self-help center. However as I thought more about it I wondered how I would feel if a state nurses association offered a legal self-help center staffed by attorneys. Surely nurses would contact a legal self-help center affiliated with a state nurses association for assistance and counseling before contacting an attorney like myself.

What do you think about self-help centers staffed by attorneys?

July 28, 2008

I know you have a website and blog, right?

http://www.law.com/jsp/law/sfb/lawArticleSFB.jsp?id=1202423101062

I use typepad for my blogs and I have my website with networksolutions.

I don't mind paying for professional services. But I refuse to pay someone thousands of dollars to develop and update my website or my blogs when the technology exists to do this yourself. Its not difficult and I like to play with the formats and colors myself.

July 07, 2008

Accounts Receivable: When Clients Don't Pay

I am mailing out five letters this month to clients where I am officially starting to take steps to w/d as their attorney of record before the Nursing Board because of non-payment of legal invoices. "Taking steps to w/d" is required by the ethical canons.

I understand we are in living in lean economics times however I still expect to be compensated for the legal services provided. I recognize that legal services are low on the list of bills to be paid when working with individual clients.

But guess what? I don't hesitate to w/d from cases because in 98% of my cases I make payment arrangements with nurses after payment of the 1/2 of my flat fee in licensure defense cases. Some pay in a timely manner and others don't.

After three months of failing to pay invoices, I send the correspondence noting that I am taking steps to w/d. After I w/d, I mail an accounting of legal services provided (research, meetings, etc.), a refund (if any is due), and refer the nurses to the Bar Association attorney referral service.

I find that it is better to terminate a non-paying client than to let it roll on and on because after several months of non-payment, you probably won't collect anyway. I don't sue clients fees because as a nurse I couldn't imagine suing another nurse especially when I can terminate the attorney-client relationship and move on.

April 07, 2008

Professional Degree is Hazardous to Your Marital Health

See this article in the Wall Street Journal.

http://online.wsj.com/article/SB120701350606879161.html

Women with professional degrees (law, medicine, and business) are more likely to divorce or be divorced at some point in their career. Is this a cost of doing business or the price for success that professional women must bear?

I am single and I have never been married. Actually, I will admit that I am a little scared to tie the knot. I have been a serious relationship for 5 years and we are living together. I consider him my fiance although we are not officially engaged and have no marriage plans for the immediate future.

I am not risk averse when it comes to business and my law practice but I am when it comes to love and "saying I do." I do like him and I do love him however I do not think I will say I do for at least a few more years.

November 09, 2007

Its Not Direct TV: Pay Your Licensure Fees

I don't like to pay my Bar dues and my RN renewal fee, but I have to if I want the privilege of practicing law and nursing. See this ad in the Columbus Dispatch about 1100 lawyers who haven't paid the $350 registration fee. http://dispatch.com/live/content/local_news/stories/2007/11/07/ATTORNEYS_NAILED.ART_ART_11-07-07_B1_3S8D7R6.html?sid=101.

This year, I paid Ohio ($350), Indiana ($110), Kentucky ($285), and Ohio RN ($65). I used to wait until a day or two before the deadlines to mail my payments but not anymore. My livelihood depends on my ability to practice and I don't pay licensure renewal fees late. I never pay Direct TV in a timely manner. 

Licensure renewal fees are placed in between my two most important monthly bills, my cell phone bill and mortgage. I also calendar the deadlines for renewal on all four of my calendar systems. 

What systems do you use?

September 01, 2007

Are You Going Bare? If so, get some insurance!

I received my renewal information for my legal malpractice insurance policy in the mail yesterday. I may lower the deductible on the policy this year from $2,500 to $1,500 or $1,000. I have another policy that covers my consulting firm and nursing practice. The cost of this policy is $125.00 while my legal malpractice insurance normally runs around $2,100 a year and I am a solo practitioner.

I don't feel comfortable "going bare" and attorneys who go bare and practice in LLCs (limited liability corporations) in some states have to disclose this fact in writing to clients. Moreover, going bare, having an LLC, allegations of concealing assets, and being an officer of court as an attorney is a mixture for a Bar Complaint, criminal investigation, and a lot of legal drama.

I have my insurance with Greater American Insurance Group. www.greatamericanlawyer.com.

November 2008

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