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the guidance you need to build the practice you want

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Law Business Manifesto

Category Archives: Law Practice Financials

The Only Difference Between a Million Dollar Law Practice Owner and You

Businessman putting a card with text Change one thing and change everything in the pocket

If you are not a million dollar law practice owner and you want to be, you might be spending a lot of your mental energy wondering what it takes to get you from where you are to where you want to be. I’ve been thinking about this a lot lately. I meet a lot of lawyers who say they want to build high 6 or 7 figure law practices, but who are not taking the steps necessary to actually do so. What’s in the way?

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

The Roadmap to Your Ideal Law Practice

a map, opened up on a desk, with laptop, camera, and two people looking over the map making a plan

Even if you don’t realize it, you already have a business model for your law practice. You inherited the “traditional law practice model” when you graduated law school and joined the ranks of hundreds of thousands of lawyers who are doing things the way they’ve always been done. But, since you’re here reading this article, I’m willing to bet that you’ve since become aware that you cannot build a sustainable and fulfilling law practice using the traditional law practice model.

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

So You Want To Make An Extra $20,000 A Month In Your Law Practice — Here’s What It Would Take And How To Make It Even Better

cartoon tree on a hill that has money growing on it, with a bill flying in the wind

One of the lawyers in our New Law Business Model coaching program recently asked us to help her decide between 4 different potential practice models for her law practice. She wanted to know how much she could make if she was working 5 days a week under the following scenarios: Just the lawyer at the firm handling everything, including drafting documents. Just the lawyer at the firm handling everything, but outsourcing drafting documents. Lawyer and one support staff person handling everything, including drafting documents. Lawyer and one support staff person handling everything, except outsourcing the drafting of documents I thought … Continue reading »

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

How Much (And When) Should I Invest to Grow my Law Practice?

A pocketwatch and a key on top of a bunch of $100 bills

“I have a strong background in investment math and cash flow model, so I get this completely… 100%. My question is, Will lawyers understand this?” “I don’t know, but they need to. Because if they can understand this…everything changes.”   This week, my copywriter, Eric and I were pow-wow’ing, brainstorming on our marketing campaigns, and getting clear on what you’d need to hear/know to decide if our membership programs are right for you and your law practice. Do you have anyone to brainstorm your monthly marketing campaigns with? If not, you should. And, that’s something we do with our members … Continue reading »

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

How To Increase Your Rates with Longtime Law Practice Clients

Lawyer shaking hand of client

We had a member recently ask us about a good way to inform clients who have been with her for awhile (and that she likes working with) that her rates would be going up. This is a great question and something that many lawyers struggle with. We see many lawyers out there not charging enough for their time and work. One of the things we teach our members, and those in our Bootcamp Programs, is how to implement flat rate pricing rather than offering services on an hourly basis. Charging hourly is often the root of a variety of problems … Continue reading »

About the Contributor
Alexis Neely
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

Would you spend $100k to save $30k on your taxes?

  As I hope you do, I work closely with my financial team and tax accountant at year end to ensure I pay as little taxes as possible, and maintain as much control over my resources as possible. Do you do the same? If so, you’ve only got a little bit longer to do it because there are many tax savings strategies that disappear when the new year starts, and can you believe it – that’s in less than two weeks! Personally, I far prefer to decide where my money goes, rather than just sending it off to the government … Continue reading »

About the Contributor
Alexis Neely
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

This Could Be Why You Are Stuck In a Law Practice You Don’t Love

This Could Be Why You Are Stuck In a Law Practice You Don’t Love

Until I had the first hand experience of seeing that the right investments, at the right time, would earn me back far more than anything else I could do with my time and money, I kept trying to build my law practice by “spending” as little as possible. I thought of investing that way, back then. I was spending my money. I didn’t get that properly investing in my law practice wasn’t spending my money at all. It was creating more with my least valuable resource. You see, today I get that money in a bank, or available on credit, … Continue reading »

About the Contributor
Alexis Neely
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

Three Reasons Hourly Billing Is for the Birds

Three Reasons Hourly Billing Is for the Birds

Chances are you already know this. You struggle to capture all of your time.  You spend the end of the day going through your time records to ensure that you’ve billed your clients for every minute you can.  And, like every other attorney, you probably hate doing it.  Yet, what other option is there?  Attorneys have been billing hourly since the dawn of time and who are you to blow against the wind?  Well, I’m here as a testament to the fact that you can get away from the billable hour and it will change your life – and your … Continue reading »

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

The $350 Investment That Turned Into a Million Dollar Law Practice

The $350 Investment That Turned Into a Million Dollar Law Practice

The first time I ever invested in my career as a lawyer (post-law school) was when I was an associate at a big law firm. I had never considered the possibility that after investing so much in going to law school, I have to invest more in learning how to practice law the way I wanted. I went to law school thinking I was going to get paid, not that I’d be paying more! I was super resistant to the idea of having to invest more, especially with $100,000 of law school loans owing. More of that story and how … Continue reading »

About the Contributor
Alexis Neely
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.

The Best Practice Area for Most Lawyers

I’m going to share with you what I know is the BEST area (niche) of law to practice, for most lawyers. But first, a brief story as background… There was a time when I wasn’t sure I was going to continue serving lawyers. I had a mid-life crisis (or as I like to think of it—a Spiritual Awakening) and I did a deep dive soul-searching inquiry as to what I wanted to be when I grew up. To set the proper context here, this was happening when I had already built two million dollar businesses (one an estate planning and … Continue reading »

About the Contributor
Alexis Neely is a bestselling author and has been a frequent guest on numerous network talk shows and news broadcasts. After graduating first in her law school class from Georgetown Law, Alexis clerked for Senior Judge Peter T. Fay on the 11th Circuit Court of Appeals and then began her career at the #1 AmLaw rated firm of Munger, Tolles & Olson. She went on to build her own law practice into a million dollar a year revenue generator within just three years by creating a revolutionary New Law Business Model you’ll hear about on the call. She is a leading expert on teaching lawyers how to attract more clients, engage those clients at higher fees,* and to serve those clients using this completely different law business model. Lawyers using Alexis’ systems report far more happiness, bigger bank accounts, and that they love being lawyers again.