A May 2012 billable hours survey by LexisNexis reported that 39% of the time worked by a solo or two-attorney firm is not billed, compared to 8% for larger law firms. Among the various reasons hypothesized for the gap are not using staff for non-billable hours and spending time on networking and business development. While client acquisition can be time-consuming, sole practitioners and small law firms still need a robust client acquisition strategy to generate a good flow of new client business. Virtual office solutions are one answer to some of these challenges. See earlier posts for background on the growing number of solo attorneys and micro-boutiques (SAMBs) and the various strategies an SAMB can deploy to enhance its professional image.Read More >
In the previous post we noted the increasing trend of solo practitioners and micro-boutique law firms. While there are very attractive benefits for attorneys in these practices, a unique set of challenges are present as well. Virtual law firms, in particular, have to address credibility concerns. Partnering with a virtual office service provider (VOSP) can help, and the more common strategies to enhance a firm's professional image are:Read More >
According to Harvard Law School, 35% of US lawyers are sole practitioners. Another study using data from the American Bar Association and American Bar Foundation estimates that 68% of all attorneys in private practice in the US are sole practitioners or in firms with ten or fewer attorneys. A solo practice or micro-boutique provides attorneys with autonomy, flexibility, and independence.Read More >
We recently participated in an #InsideDenver Twitter chat, hosted by Blake Communications and Heinrich Marketing, that was focused on the growth of co-working spaces in Denver. Co-working spaces are certainly a rapidly growing trend, and the chat brought together a group of people who all have a unique perspective on what is behind this growth, the unique advantages of these spaces, and how co-working will continue to evolve.