Dec 12, 2023
Want to dial up your law firm's profitability? Let's explore how time tracking can make a significant impact on your bottom line. We unpack the importance of investing in automatic time tracking software and strategies to effectively implement it in your firm, regardless of whether you bill hourly or work on a flat fee basis. We help you see the big picture of how time tracking can streamline operations and boost profitability. We also share personal experiences and demonstrate how critical time tracking is for managing a growing business.
By combining a blend of software, calendars, and task lists, we exhibit how you can create a holistic overview of your daily activities. We also introduce you to the concept of task templates and how they can minimize redundancies. Hear a real-life story of a business owner who saw a whopping 20% increase in revenue by simply upgrading their time tracking system. We emphasize the importance of designating a team member to be accountable for tracking time and explain how this can be a game-changer for your firm.
Listen up as we share ways to effectively communicate with colleagues and clients for accuracy in tracking and billing. We guarantee this episode will provide valuable insights into making your law firm highly productive and profitable.
Show Highlights:
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The importance of time tracking in law firms.
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Strategies for effective time tracking, including investing in automatic time tracking software and assigning a dedicated person for this task.
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Utilizing a multi-pronged approach for time tracking and task management using software, calendars, and task lists.
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The role of task templates in reducing redundancies and increasing productivity.
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The significant impact of technology in time tracking.
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The necessity of clear communication with colleagues and clients for accurate time tracking and billing.
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The possibility of hiring a remote team member to assist with time tracking as a cost-effective solution.
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Supporting Resources:
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Schedule a Consultation: https://gngf.com/consultation
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Visit the Website: https://gngf.com/
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Visit streamlined.legal:https://streamlined.legal/
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Twitter: @NextLevel_Legal
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Instagram or Facebook: @nextlevel.legal
More Information About Our Hosts:
Melanie Leonard: streamlined.legal
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For help automating key processes in your law firm and implementing legal tech (especially around Clio & Lawmatics), check out the free videos and resources at https://streamlined.legal/videos to streamline your law firm TODAY.
Mark Homer: Get Noticed Get Found
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Every day, the Get Noticed Get Found team (GNGF) helps ambitious law firms push through their growth plateaus.
If your marketing budget is $80,000 or more a year and you are interested in learning how the GNGF team can help take your law firm’s marketing to the next level, schedule a conversation with our team at https://gngf.com/consultation or give us a call at 513-444-2016.
If you are just getting started but want some hand-holding and guidance as you spend more time and money in marketing, check out GNGF’s sister company https://lexcelerate.legal, which provides marketing help through group coaching, training videos, and downloadable guides for solo and small law firms.
ACTION STEPS:
Melanie:
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Buy the software: this is a problem with a $5/day solution. And if you’re really feeling starved for cash, skip Starbucks, buy the software, and your billing will increase, and your income will increase to a point where you won’t have the same stresses that were causing you to need that coffee in the first place.
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Designate your Time Tracker - ask them to listen to this episode and put a time on the calendar to sit down with your time tracker after they’ve listened and make sure that you both are on the same page about how they are creating your time entries.
If you haven’t done so already:
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Subscribe on Apple Podcasts, Google Podcasts, Spotify or wherever you listen.
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And once you have subscribed - please leave us a 5-star rating and review as that will help this podcast get discovered by other law firm owners.
-- Until next time, don’t forget….. Your Law Firm is a business -- take it to the next level.
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Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com. Let them know I sent you.