Asked and Answered
By John W. Olmstead, MBA, Ph.D, CMC
Q. I am sole owner of a law firm in Western Kentucky. My practice consists of myself, a legal assistant, a part-time bookkeeper, and a part-time contract attorney. The practice is limited to employment law - both plaintiff and defense side. Approximately 80% of my business is contingency fee and 20% is time-billed and or retainer. While the practice has done OK over the past 15 or so years, worrying about paying bills (cash flow) is a constant source of stress for me and my family. I do no marketing - all of my business comes from lawyer referrals. Do you have any suggestions?