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What Are Billable Hours? A Guide for Lawyers

Rocket Matter

Why the billable hour matters Reports state that many attorneys bill between 1,700 and 2,300 hours per year , so not tracking all your time accurately can lead to tens of thousands in lost revenue. Second, law firms track the billable hours of each attorney. Six minutes also works out nicely because it amounts to 1/10th of an hour.

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Four Signs It’s Time to Raise Your Rates (and How to Do It)

Rocket Matter

Take a data-driven approach by first considering the following: Local new lawyer value: First, determine your base-level value. You can do this by starting at the billable hour of any new lawyer in your area. Likewise, you should charge a premium for a unique legal service not commonly available in your region.

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Rocket Matter Ushers in New Era of Legal Workflow and Automation with ChatGPT Integration

Rocket Matter

Advances in AI, with the ability to digest large amounts of information and create compelling text, offer massive efficiency boosts for legal services. Get free guide How to Master Your Law Firm’s Time and Billing Lawyers have a heavy workload. Get free guide See More

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How to Get a Law Firm Website That’s Out of This World

Rocket Matter

Smart forms help you pre-qualify clients, route inquiries to the right person, ensure legal compliance, and enhance user experience. In short, they make client onboarding smoother and more efficient so you can focus on delivering top-notch legal services. Running a legal practice is definitely one of those things.

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To Surcharge or Not to Surcharge? We’re Here to Help Answer that Question.

Rocket Matter

More useful posts: 9 Reasons Why Legal CRM Takes Your Law Firm To The Next Level Top 8 Technologies to Help You Run a Paperless Law Office Why is Online Legal Payment Processing a Must for Your Law Firm 12 Legal Payment Processing Features to Look For Want to see a healthier cash flow and happier clients?

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Law Firm Invoice Alchemy: Transforming Legal Billing Details into Client Delight

Rocket Matter

Accessible! For many clients, hiring a lawyer is a major expense. This means using natural language rather than overusing legal jargon. It’s easy to accomplish that with the help of the right tech. The fact is that even the best-run law firms need to adjust their processes occasionally. Are invoices clear?

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How to Start a Law Firm

MyCase

Start by calculating your personal/family finances. This can include: Mortgage or rent (plus utilities) Groceries Gas Wifi and phone bills Car payment(s) Streaming services Gym membership dues Budgeted fun money (outings and shopping) Add up the total monthly amount to determine how much money you need to be financially stable.