#1 The (3) most crucial Critical Numbers for your law business to track and manage are: (1) the % Conversion Rate from Initial Consults to Clients, (2) % Collections, and (3) Hours Billed by each of your Legal Staff.  Each of these Critical Numbers can lag for many reasons and when they do, good management determines why and fixes such problems quickly.  In that way, there is no need to track or be concerned with the many other business numbers such as sales, costs, margins, cash, etc.

Knowing this already or learning it now is interesting, but ineffective without More Law Profits (MLP) to calculate, track, and display the data while incentivizing employees to maintain high numbers and automatically react to low published numbers.

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#2 Critical Number 1 above, the % Conversion Rate from Initial Consults to Clients, has the most effect on profits. If this number is low, especially in slow times, Hours Billed by each of your Legal Staff will drop and a high % Collections won’t make enough difference. Profits will sag.

Knowing this already or learning it now is interesting, but ineffective without More Law Profits (MLP) to calculate, track, and display the data while incentivizing employees to maintain high numbers and automatically react to low published numbers.

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#3 Employees will automatically keep the above critical numbers at high levels, and never retire on the job if properly incentivized with performance based pay and monthly awards that create a competitive environment.

If you are currently using the ‘Nag Method’ to get employees to cooperate, isn’t it high time to let software technology and protocols relieve you of that undesirable and ineffective method while also getting optimum results by Incentivizing Employees?

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#4 Near 100% collections is possible with the proper knowhow, tools, protocols, employee incentives, properly worded Retainer Agreements, and Guarantor Agreements for clients with low credit ratings.

Knowing this already or learning it now is interesting, but ineffective without More Law Profits to calculate, track, and display the data while incentivizing employees to maintain high numbers and automatically react to low numbers.

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#5 If % of Work Hours billed is not calculated, tracked, displayed, and made to affect monthly Awards and Performance Pay changes for each Legal Staffer, much time will be wasted on many things instead of work and billing hours.

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#6 Payroll and Income Taxes can often be saved if you ask your accountant some important questions. Many accountants are not proactive in saving you taxes and can be too conservative, ensuring their own reputations while letting you overpay taxes. You can overcome this by asking the right questions or finding a new accountant. MLP‘s new clients get tax tips upon signing up that could save a bundle over the years.

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#7 Using properly written forms, enforcing them, and following our suggested best practices are all part of the tool chest to increase your profits. Such forms would include Client Intake Forms, Employment Agreements, an Office Manual, Retainer Agreements, Guarantor Agreements, Confession of Judgment Agreements, Staff Billing Guidelines, Staff Training Documents, and more. 

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#8 In addition to the initial retainer amount paid by a new client, an additional deposit of $1,000 is usually required. This amount is typically not shown as a credit on the client’s account until his representation ends. Therefore, his balance due doesn’t show it. This out of sight, out of mind method helps clients pay on time and increases % Collections.

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#9 Gold mine. MLP requires legal staff to enter hours worked each day and the Hours Worked report compares them to hours billed, and publishes the ratio and other data that incentivizes legal staff to work and to bill hours more efficiently. They are then rewarded through the Awards Program and Performance Pay. And the business has happier, higher paid legal staff that makes more money for the business.

There are many more proprietary More Law Profits secrets to increase profits that only Licensees will get access to and benefit from. Even if we told you all of them now, they would not help you much without MLP because it takes all the components of this Business Management System to be effective. 

While we can’t guarantee you will make more money because of all the variables in business, we can Guarantee that if you use our system and follow our advice, you will make more money than you would have with your current methods and software.