WHAT ABOUT THE COMPETITION - EVER HEAR OF "HALF PRICED LAWYERS?"
The economics of running a law firm are fairly simple in comparison to
other industries. In order for a law firm to make money, the lawyers
have to process cases. Over time, a law firm can calculate the mean, or
average amount that they make on each case. If a lawyer charges a 40%
contingency fee and makes an average of $10,000.00 on each case, the
lawyer knows he or she has to process, say, 20 cases a year to gross
$200,000.00. If that lawyer decides to charge only 20% contingency fee
on each case, he or she will have to process 40 cases to gross
$200,000.00. The question is, then, how does a lawyer process twice as
many cases in a year? The answer is, work twice as much, or spend half
as much time on each case.
Here is the problem... If a lawyer spends 50 to 60 hours a week on
average to process 20 cases a year, it would be impossible to work
twice as much, unless the lawyer doesn't sleep and is a workaholic. So,
more likely than not, a lawyer would cut the amount of time spent on
each case in half in order to process twice as many cases. I don't know
how a lawyer can do justice to a case by spending less time working the
case.
There are some things that a law firm can do to build in some
efficiencies so that more cases can be processed, but more often than
not, you get what you pay for.
Passion for Law - Passion for Business
Like it or not, or perhaps believe it or not, a law firm is a business.
With an undergraduate degree in business management and a passion for
success, I know what it takes to succeed in the business of law.
Every seasoned lawyer knows that the most valuable resource a lawyer
has is his or her reputation. Every established law firm knows that the
most valuable and effective source of marketing is word of mouth.
That is why The Maridon Law Firm dedicates more time to client
satisfaction than most law firms in Nevada. Every aspect of the case is
important, from meeting with a client for the first time, to working
toward a settlement and to making sure that a case is ready to go to
trial if necessary.
- Joseph R. Maridon, Jr., Esq.