Podcast category: Best Legal Practices

ABA Journal: Modern Law Library

ABA Law Practice Division: Joan Bullock on the Diversity and Inclusion Committee

Legal Talk Network Producer Laurence Colletti interviews Chair of the Diversity and Inclusion Committee Joan Bullock at the 2014 American Bar Association Law Practice Division Fall Meeting. Bullock discusses committee initiatives including building awareness, working with the Law Practice Today webzine, and reaching outside the ABA to see what is working in law firms and corporate legal departments. Bullock was a past Chair of the Law Practice Division, is Associate Dean for Teaching and Faculty Development and a Professor of Law at Florida A&M University College of Law, and has worked with law firms on practice management skills.

 

 

Special Reports

ABA Law Practice Division: Reba Nance from the Colorado Bar Association

New Solo host Adriana Linares interviews Reba Nance at the 2014 American Bar Association Law Practice Division Fall Meeting. Nance discusses the ABA Techshow, her unique view on how the division can work with State and Local Bars, and the benefits of legal professionals getting involved with the committees or sections. Nance is the Director of Law Practice Management/Risk Management at the Colorado Bar Association.

Special Reports

ABA Law Practice Division: Rodney Dowell and Josh Poje on the Legal Technology Resource Center

New Solo host Adriana Linares interviews Rodney Dowell and Josh Poje at the 2014 American Bar Association Law Practice Division Fall Meeting. Poje, Director of the Legal Technology Resource Center (LTRC), discusses online resources like the blog or webinars, and how lawyers can benefit from marketing and technology conferences and meetings. Dowell, Chair of the LTRC group, gives insights into quality content creation and questionnaires the group has devised to research what technology lawyers are actually using. Dowell also discusses being Executive Director of Lawyers Concerned for Lawyers, an organization working with lawyers who struggle with mental health or stress issues.

 

 

Special Reports

ABA Law Practice Division: John Bowers on the Law Practice Magazine

The Digital Edge host Jim Calloway interviews Law Practice Magazine Editor-in-Chief John Bowers at the 2014 American Bar Association Law Practice Division Fall Meeting. Bowers gives examples of top themes covered such as data security and work/life balance, his favorite articles including one with Richard Susskind, and how lawyers and other legal professionals can subscribe to the magazine in print, online, or through the Law Practice App. John Bowers works with lawyers in business development and marketing. He was previously the editor-in-chief of the Law Practice Division’s Webzine and has been working with the division since 2006.

Special Reports

ABA Law Practice Division: Anne Collier on Personality and Professional Development

Legal Talk Network Producer Laurence Colletti interviews Anne Collier at the 2014 American Bar Association Law Practice Division Fall Meeting. Collier describes her workshops for the ABA Women Rainmakers Mid Career Workshop. She discusses understanding your personality type through tests like Myers-Briggs, creating systems to help manage stress, and how women can use these skills to increase happiness and success. Anne Collier is a member of the Women Rainmakers Board and started Arudia, a coaching company to help lawyers and professionals with leadership, business development, and personal branding.

 

Special Reports

ABA Law Practice Division: Ireneo Reus on the Young Lawyer Division

Legal Talk Network Producer Laurence Colletti interviews liaison for the Young Lawyer Division Ireneo Reus at the 2014 American Bar Association Law Practice Division Fall Meeting. Reus discusses future projects for the Young Lawyer Division focusing on homelessness and street youth and how pro-bono work is implemented. He also explains recruitment age for the division, the level of national and international recruitment and networking, and how this leads to referrals. Starting in the Young Lawyer Division, he says, is extremely beneficial because it leads to connections and gateways into leadership roles within the ABA. Ireneo Reus is the National Representative from the National Asian Pacific American Bar Association and has his own practice serving as outside corporate counsel for business owners in healthcare and media.

 

Special Reports

ABA Law Practice Division: Micah Buchdahl on the Law Practice Today Webzine

The Digital Edge host Jim Calloway interviews Law Practice Today Editor-in-Chief  Micah Buchdahl about the Webzine at the 2014 American Bar Association Law Practice Division Fall Meeting. Buchdahl gives some examples of high quality content topics the webzine provides, how they are doing Local and State Bar outreach, and explains how previously unpublished lawyers can be involved in writing content for Law Practice Today. Previously a sports and entertainment lawyer, Micah Buchdahl now works with law firms on marketing and business development strategies.

 

Special Reports

ABA Law Practice Division: Chad Burton and Adriana Linares on E-Lawyering

Legal Talk Network Producer Laurence Colletti interviews E-Lawyering Task Force Co-Chair Chad Burton and Vice-Chair Adriana Linares at the 2014 American Bar Association Law Practice Division Fall Meeting. Together, they discuss core components to delivering legal services using technology, helping clients be more comfortable using portals to exchange information, and the future of the E-Lawyering Task Force in 2015. Chad Burton and Adriana Linares are both in the forefront of facilitating the use of technology for lawyers and legal professionals.

 

Special Reports

ABA Law Practice Division: Leona Frank on the Women Rainmakers Group

Legal Talk Network Producer Laurence Colletti interviews Vice Chair of the Women Rainmakers Board Leona Frank at the 2014 ABA Law Practice Division Fall Meeting. She discusses the history of the Women Rainmakers Board, the focus on newer female attorneys heading towards leadership roles, and how women should mold the legal profession around themselves, not fit in. She also explains how the group address the underrepresentation of female leadership within legal professions through networking, mentoring, and local programming. Leona Frank is a solo practitioner, a strategist for professional athletes, and has been Secretary of the ABA Law Practice Division, among many other impressive titles.

New Solo

Setting Legal Fees in Your Law Practice

When starting your solo practice, figuring out how to price your services can be very difficult. Many new lawyers undercut the market or undervalue what they have to offer. Additionally, in this emerging market of flat fees, they have to consider their strategy for setting legal rates. When charging for hourly legal services, what should be the lowest starting rate? How should a solo lawyer structure a system for flat fee pricing? What are the signs of undercharging and how should attorneys convey the value of their services to the client?

On this episode of New Solo, Adriana Linares interviews attorney Ted Waggoner about how lawyers should set their fees, hourly versus flat fee pricing, and educating clients about the true value of their legal services. When starting a new practice, Waggoner explains, lawyers should set their fees based on expenses, investment, the client’s budget, and, of course, profit. Each attorney will adjust these fees based on mistakes and experience. However, Waggoner also encourages lawyers to think like business people; have a discussion with the client about how valuable the legal services are and set fees accordingly. Lawyers need to establish a relationship with their clients in order to manage their expectations, educate them about value and benefits, and scope out the case. Waggoner also emphasizes the importance of research through blogs or consultants such as David Maister, Alan Weiss, and Ron Baker. In the end, he says, the fees are set to what the client wants to pay and is willing to pay, and whether the lawyer accepts that amount.

Ted A. Waggoner is the managing partner at Peterson Waggoner & Perkins, LLP in Rochester, Indiana. Waggoner has been an active presenter for lawyers Continuing Legal Education seminars, having lectured at the Solo and Small Firm Conference on topics such as Fundamentals of Successful Solo and Small Firm Practice; Tough Moments with Clients; and Selling Your Client’s Business. Waggoner has also contributed to articles in the ABA Journal and other ABA publications.

Special thanks to our sponsor, Solo Practice University.

 

 

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