Business of Law

How to Budget and Build an Expense Spreadsheet for Your Firm

How to Budget and Build an Expense Spreadsheet for Your Firm

Whether you’re in the startup phase of building your firm or looking to get organized, a budget system can help you align your business strategy with your long-term vision. A law firm expense spreadsheet can help you track your fixed and variable expenses, understand your profit margins, and gain valuable insights to help you scale…

The 12 Most Lucrative Practice Areas for Small Law Firms

The 12 Most Lucrative Practice Areas for Small Law Firms

The legal industry and delivery of legal services is shifting, including the income potential for attorneys. According to industry data, the most profitable practice area for lawyers in 2020 is medical malpractice with a median annual salary of $165,266. To get a full understanding of what areas of law are the most lucrative, we analyzed leading salary…