What A Partner At Rimon Law Wishes They Knew Before Practicing Law
Ben, a Partner at Rimon Law, emphasizes the critical importance of client financial stability in running a small law practice, stating "you've always gotta be very conscious of clients' financial situation". The ability to collect payment is paramount to success, irrespective of legal work quality, as "if they don't pay the bills, then you're not gonna make a living".
Finance Management, Client Relations, Billing Practices, Small Business, Legal Practice Management
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Ben Douglas
Partner
Rimon Law
UC Berkeley
UC Berkeley -- JD and MPP
History, Art History
Law
Legal
None Applicable
Video Highlights
1. Financial management is critical in running a small law practice.
2. Client payment is crucial for the sustainability of the practice.
3. Good legal advice alone is not sufficient; ensuring timely payments is essential for success.
Transcript
What have you learned about this role that you wish someone had told you before you entered the industry?
When you're running a relatively small law practice, you always have to be very conscious of your clients' financial situations. You need to be wary of those who are not in a position to actually pay your bills.
It doesn't matter how good your legal advice is or how happy they are with your work. If clients don't pay their bills, you ultimately won't make a living. So, just be very cognizant of making sure you get paid.