Matt Homann’s blog, the [non]billable hour indirectly inspired my own approach to flat fees and value billing. He was one of the keynote speakers at Minnesota CLE’s “Strategic Solutions for Solo and Small Firms” conference in Duluth this week. Yesterday, he sat down with me to share some tips for the “suddenly solo”—attorneys who get laid off from law firms during the economic slump—and for lawyers just starting their law firm careers.
Sam Glover has been writing about law practice technology, management, marketing, and other stuff on Lawyerist since 2007. He consults on appeals and motion practice in his solo practice. When he isn't blogging or lawyering, Sam drinks espresso and plays with fountain pens.
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The great thing about fixed-fee billing is that you can structure the engagement agreement so that the fees go straight into your operating account instead of your IOLA. The wrinkle is that if you make any sort of a money-back guarantee, the fees may not be earned despite any language in the engagement agreement.