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Most lawyers do not believe that the entrepreneur. However, a law practice is a business and therefore you should looking for ways to generate profit, where you can. Reduce costs is one way to create more profit for you. There are at least 3 painless way that you reduce costs.
The cost of the paperwork you know this too - the creation of draft after draft of documents, with a mailing, faxing and copying them all. More and more offices now on recycled paper in the office. Do use blue markers on the "red-line" through the pages of paper used can be reused for faxing, copying, etc. When an important document that needs its own page Copy. Another formalities reducer is e-faxes. (A personal favorite of mine.) And always check whether documents can be sent by fax or via e-mail, but as waste paper. Draft documents may only be printed on recycled paper. Another tip - Attorneys often you print multiple copies of things, the use of expensive printer cartridges, as it would be much cheaper to just make a copy
Duplication of legal means, if your Lexis or Westlaw services allow you to restrict access to certain magazines or other publications online, then you will not need to receive the printed version. Often it is cheaper to invest in an additional database, in order to purchase the update for the hardcover books. It may feel good to hang on the older, more comfortable way of doing things, but I think that lawyers usually underestimated how smart and resourceful that they can be. They may also work in your school or the local court law library. For rarely used means it is less expensive, a trip to these facilities. You should also be in the bar association resources and discounts, which they are offered. Finally, for small firms or sole practice, it is often beneficial to couple with other physicians and pool your resources.
Bill your customers Finally, it is important to keep track of and recognize what can and should be billed to the customer when it comes to the "administrative and office expenses. Copying charges, telephone, postage, costs and other costs billed back to the client. There is now a common practice enough that your customer will probably not superior to twice absorb these costs if you declare that these expenses will be along to them if you keep it. This shift of costs may a bit more administrative work, but it allows you to access a substantial portion of the costs - and ultimately a higher profit margin for you in your practice.
Jack McDonough is a Colorado CPA, speaker, coach, author, consultant and experts in the legal and accounting sectors, who wish to make more money while working fewer hours. Jack is the President of the rich Professionals LLC. WealthyProfessionals.com
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