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<b>Meyerowitz on Marketing:</b> How Law Firms Finance Their Practices to Encourage Business Development

By Steven A. Meyerowitz

Most lawyers today seem to focus on attracting new clients and increasing their revenues. But there's another side to the balance sheet that also needs a firm's attention: the liabilities. Here are the ways that firms can make sure they are able to pay their bills.

There's probably nothing as exciting to a litigator as obtaining a big jury verdict, unless it's having a case thrown out before trial or winning on appeal. Transactional lawyers just love their closing binders ' not to mention the plastic deal toys. And, let's face it, every lawyer is thrilled when a new client signs a retainer agreement, or even when someone who has not previously retained the firm simply calls for information or requests a copy of the firm brochure.

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