What's Happening?
Legal business strategist Matt Darner discusses the challenges lawyers face with billing and client communication on the 'Be That Lawyer' podcast. Many lawyers find billing uncomfortable, despite delivering
valuable work. Darner suggests reframing client communication to emphasize the value provided, rather than pestering for payment. He highlights the importance of consistent communication and robust systems to maintain client trust and ensure timely payments. Darner argues that top-performing lawyers should not spend time chasing unpaid invoices, as it misallocates talent and time. Instead, firms should focus on setting clear expectations and maintaining communication to facilitate smoother collections.
Why It's Important?
Effective billing and client communication are crucial for law firms to maintain financial health and client relationships. By improving these areas, firms can reduce the time and resources spent on collections, allowing lawyers to focus on high-value legal work. This approach can enhance client satisfaction and trust, leading to better retention and potentially increased revenue. The strategies discussed by Darner can help law firms optimize their operations and improve their bottom line.
What's Next?
Law firms may consider implementing the strategies discussed by Darner to improve their billing and client communication processes. This could involve training staff to approach client interactions with confidence and helpfulness, as well as developing systems to ensure consistent communication. Firms may also explore restructuring their operations to allow lawyers to focus on legal work rather than collections.
Beyond the Headlines
The discussion on billing and client communication highlights broader issues within the legal industry, such as the need for better business development training for lawyers. By addressing these challenges, firms can improve their overall efficiency and competitiveness. The insights provided by Darner may also inform future developments in legal technology and client relationship management.
