Lawyers are motivated by peer recognition, peer evaluation and the opportunity to work in a law firm with clearly articulated priorities and values. A key component in establishing an effective billing and collection process is self-motivation that is enhanced and supported by the firm’s structure for governance, administration and financial management. The self-motivation of attorneys determines, more so than any other factor, the success of a law firm. To foster that sense of personal responsibility, management should encourage each lawyer to analyze his or her own contributions to the firm in areas such as billable hours, billings and collections. Lawyers will perform better if they believe that their advancement is directly tied professionally, personally and economically to the improvement of the firm. A firm that lacks a strong work ethic among attorneys for billing and collection of fees and costs, as well as for producing high-quality legal work in a timely and profitable manner, is at risk.
The vast majority of lawyers recognizes and acknowledges that billings and collections are critical elements that contribute to the firm’s success. However, some attorneys require a “jump-start” to focus their attention on this important financial point.
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